Posts Tagged ‘tax’

It Has Officially Begun

Tuesday, February 2nd, 2010

Tax time is in full swing. Yesterday was absolutely exhausting. When we got home and fed kids pizza that we picked up along the way, I checked my Farmville and then laid down. I think I was asleep by 8:30. The good thing is that my hours are going to fly through the roof. When I had stepped out to pick up lunch for us from Subway, 6 people came by and dropped off their info for their returns. The boss looked at the growing stack and asked me if I was sure I didn’t want the part time temp to handle the administrative aspect. I am sure, I really want the hours. So this morning I am ready to go to work and get cracking. But. Kids have a 2 hr delay due to the sleet coming through. So I have to wait. Now I am waiting to hear from the school. Given that the kids keep missing days and they have already taken Good Friday as a makeup, they are now discussing starting to use Spring Break. They are going to call parents and see what they want. I am sure we can figure out my answer…….take the Spring Break days. Those have always been a pain for us. But I doubt that it will happen. I think more parents will vote for the use of Saturdays (which my kids will not want lol). Saturdays wouldn’t affect us much because Alex will still be home. Kyle usually stays and works from home on Saturdays so that  can come to the office.

With regard to the knitting classes this weekend, Kyle and the kids will go down with me Sunday as long as it isn’t snowing. No matter what if it snows I am not going. But Sunday it’s not supposed to and it’s supposed to be above freezing which means melting. And Sunday is the designing class which I am really thrilled about.

Tomorrow Claire gets her glasses….finally! It’s been almost a full year since she had a pair. Hopefully next month I can buy a second pair for her so that in the event she breaks a pair she has a backup. I also need to get a new pair for me because I haven’t been seen in two years. I am afraid Alex needs glasses as well, so I need to get him checked.

In other news, Megadeth is coming to Asheville in March. YAY! They are bringing with them Testament and Exodus. Talk about a blast from the past! I am totally going, friend of mine got our tickets already. Shinedown will also be coming April 1. Not too sure about that one. Tickets go on sale Friday and once my friend finds out how much they are we will talk about it. I really can’t afford it if it’s more than $40. We will see.

That’s about it in my exciting life. I need to check my farm andget ready for work. What are you all up to today?

FTC vs Mom Bloggers

Monday, November 9th, 2009

Maybe I am being too cranky, but I am tired of people still blogging complaints about the guidelines the FTC has imposed on people doing endorsements.  I can understand it after the initial imposing of said guidelines but now it’s just a dead horse. So can we please quit complaining? Seriously?

And too I am looking at this with the accountant’s mind. See the thing is, people seem to think that reviewing products and keeping said products are “free”. The reality is it’s not. First off someone is giving you something in exchange for a service. Income is not just money but the fair market value of anything you receive in exchange for a service. If you don’t do the review, the company more or less is going to want the product back in the same condition it was sent in or the cost of the item. Absolutely nothing in this world is “free”, it costs someone something. If a company sends you an item that they sell for $40, they lose that sale. Assuming a 50% markup it costs them $20 plus shipping costs and then the other $20 lost in sales. Yea, it’s free to you but they are paying for it. And if you review that item they have paid you with that item to do the review.

Now I know some are going to say, “I don’t review that much”. No, some people don’t and there are some people who set out to make it a “career”. However, if you do reviews you should be reporting the fair market value (retail value in this case) as your income. If you do one review a month for items at about $40 a pop, that is $480 in income. May not seem like alot but it can put you in a new tax bracket depending on about 100 different factors (kids, wages, annuities, day care expenses,standard deductions, itemizing deductions, etc etc). Now with FTC guidelines the IRS is going to be looking at bloggers and work at home mom incomes even more. Even moreso now, working from home will become a red flag for auditors to review your return more carefully. This isn’t to scare you, this is just the truth. And don’t get into the mentality that the IRS is going to go after large corporations. First off small business and what I call Schedule C’rs (work from home people) make up the larger portion of businesses in the country. And who do you think will be easier to audit? Yep, the small business. Larger corporations take more amount of time to comb through everything. The IRS is probably going to go for what is easier and less time consuming.

Lastly, I have to say you should be VERY careful about announcing on your blog or twitter that you won’t be including the info on your return. I have already witnessed this once…dangerous stuff. The IRS offers rewards for people reporting others who are committing tax fraud (ie: not claiming all sources of income). And announcing it on your blog or twitter can make it very easy to locate you. Nothing is hidden well on the internet!

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