Switched Keys

Training for royalty transactions in VITA are brief and instructions for how to enter them in Taxwise are not easy to find. With some trial and error and investigation, I believe I understand how to best enter them in Taxwise. It is rather… more »

Working at VITA is quite a learning experience. Working with the IRS, non-profit organizations are able to offer free tax assistance to low-income individuals via the "Volunteers in Tax Assistance" program. To adequately staff the site, the VITA… more »

After the first week at VITA I came across some issues that might be of interest to other VITA-ites. 1099-MISC There is an option to add Businees/1099-MISC income in the Income page of the Interview, where you add the W-2s and other 1099s. Only use that… more »

On an annual basis, taxpayers may be surprised by the additional taxes they may be liable for. Here's a few of those situations. Employer provided credits In anticipation of providing credits for some expenses you may have, some employers include those… more »

In December of last year (2013), I finished the exams for Enrolled Agent. When preparing for the E. A. exam, I had to mentally block out most of what I heard about tax changes because the exam was on 2012 laws. Following that I started spending time get… more »

Reading an article on the tax implications of Obamacare I found it interesting the people that the article quoted, and in particular, the titles of the individuals quoted. In the article, Tax Pros Face Obamacare Questions by Jeff Stimpson, of the seven… more »

It has been more than six months since my last post. In that time I've been studying and testing for the Enrolled Agent certification. Having passed (presumably in flying colors: I'll never know), now I am waiting for the IRS to process my application.… more »