Ask me any tax questions

wtf6192002 · #1 08-29-2007, 12:07 AM

I may not be able to answer questions right away, "I work all day and have to go to bed semi early" but I will eventually answer all questions.

There is one rule that I believe will answer many questions about write offs.

Claim ALL YOUR INCOME and everything will be ok. We can get aggressive with write offs if you want. The worst thing that will happen is the IRS will disallow it and you will have to pay the disallowed write off plus a little interest. As long as you claim your income you will be ok.

With that out of the way

GOGOGOGOGO

doubLe a tom · #2 08-29-2007, 12:08 AM

stfu

phobos · #3 08-29-2007, 12:10 AM

ban the accountant

popeye18 · #4 08-29-2007, 12:17 AM

Is there any truth to the myth that the IRS will not pass on information to other agencies if you file taxes for illegal practices (prostitution, dealing drugs, ect.)?

wtf6192002 · #5 08-29-2007, 12:20 AM

YES. Just like the Census Beuro wont. Except for when they gave the names and addresses of Japanese people in WW2, but it says right on their pamphlet that they don't.

With that out of the way, I am a CPA not an IRS agent so I cant say for sure.

popeye18 · #6 08-29-2007, 12:22 AM

Im kinda worried about the irs coming back and saying i should have filed as a pro in 2005. How long till i can stop worrying about this?

drexah · #7 08-29-2007, 12:25 AM

i know this is 4l so im not gonna bother posting any serious questions in here but if anyone does pay taxes on their poker winnings or knows a lot about paying taxes please PM me i got a couple questions.

also, does OP have any clue what he's talking about or this a terrible idea?

wtf6192002 · #8 08-29-2007, 12:26 AM

[ QUOTE ]
Im kinda worried about the irs coming back and saying i should have filed as a pro in 2005. How long till i can stop worrying about this?

[/ QUOTE ]

Its 3 years unless you omit 25% or more of your income. Then its 6 years.

WARNING: thats 3 years or 6 years from the date you file. If you never file then there is no statute of limitations.

Can you clarify what you are worried about?

wtf6192002 · #9 08-29-2007, 12:28 AM

[ QUOTE ]
i know this is 4l so im not gonna bother posting any serious questions in here but if anyone does pay taxes on their poker winnings or knows a lot about paying taxes please PM me i got a couple questions.

also, does OP have any clue what he's talking about or this a terrible idea?

[/ QUOTE ]

What is your problem? I offer to answer your questions and you insult me and then ask for tax advice. LOL

popeye18 · #10 08-29-2007, 12:36 AM

[ QUOTE ]
[ QUOTE ]
Im kinda worried about the irs coming back and saying i should have filed as a pro in 2005. How long till i can stop worrying about this?

[/ QUOTE ]

Its 3 years unless you omit 25% or more of your income. Then its 6 years.

WARNING: thats 3 years or 6 years from the date you file. If you never file then there is no statute of limitations.

Can you clarify what you are worried about?

[/ QUOTE ]

Im worried that since i made a decent amount of money with no other income they will come back and say i should have filed as a pro and slap me with the SE tax and interest. I have heard of others that this happened to whose situations seemed pretty close to mine.