Oh yeah. This year we incorporated the business, taxing it as an S corporation. This means another learning curve, and ach, other things ( Read more... )

I did finally get those three years of tax returns amended and printed out today. All that's left to do is for the mate to sign and date them, shove a check for $227 to the state for 2018 into one(????), and send them off. I skipped sending the state 2016 and 2017 since as far as they're concerned, nothing changed ( Read more... )

It seems I declared income on Schedule C wrong for the past three years. So it'll be time to break out Turbotax for those years(2016, 2017, 2018), and go to forms, to fill out a 1040X. I needed to split the Sched C income between the mate and myself, as well as fill out separate Sched SE's for both of us. Our Social Security income is screwed up ( Read more... )

A fairly accomplished time at home. Just about everything on the business list got done. Really, even the forms for converting our business from a simple partnership to an LLC are ready to be mailed off, along with a $100 payment. And since we need to renew come late March anyway...bam, perfect timing that way ( Read more... )

Okay. More or less the final numbers have been entered into Turbotax. I went back through, corrected mistakes, updated figures...and now we owe $2765 to the feds. That's not the part that cheeses me off though ( Read more... )

I closed out January today at least. So that's something. In fact on the business end pretty much everything is done, except actually setting up the LLC. I found Publication 3402, which states that an LLC can be taxed as a simple partnership, which is what we're doing now. Though if I send in uh, form uhhhh...what's that number again? Yeah. ( Read more... )

This whole Trump tax bill has me curious about whether I actually fared better or worse. So this idea hit me. Plug 2017's numbers into 2018 Turbotax and see what happens. My suspicion is I'd wind up owing more since Per Diem no longer counts as a deduction. But let's wait for the final verdict on that one. I mean, I still have all those ( Read more... )

Okay, I figured out to set up an LLC within Oregon, we'd just need to send in two forms, one to dissolve the DBA that we're currently doing business under, and one to file for the new LLC. However I need to figure out tax filings, schedules, and whatnot for an LLC before I go and sign up. I figure irs.gov would be the place to find such info, and ( Read more... )

I went back through Profit Gauges and found some discrepancies.

• Two settlements hadn't even been entered. So I got them in.


• Reimbursements had to be accounted for as such. Landstar lists them as refunds.


• Things deducted out of the income section needed to be accounted for as such. So I updated those when needed.

After all that updating, Our 1099 ( Read more... )

Had a much belated Imbolc this evening. Cut the tree up, and burned the branches. We save the trunk as logs for next Yule. So, everything's swept and cleaned up. Sunfire(our Summer Solstice Fairy) wanted to have a peek in, so I brought her out to witness ( Read more... )