Taxes+Hobby

[MacTheKnife]

Originally Posted by Sugardaddy

See federal code of evidence Article 515:
"C. Exceptions. There is no privilege under this Article as to a communication:
(1)(a) If the services of the accountant were sought or obtained to enable or aid anyone to commit or plan to commit what the client or his representative knew or reasonably should have known to be a crime or fraud."

http://www.rpifs.com/vkjcpa/confidentiality.htm

[Laz]

Sounds like the best option if you need help is to use an accountant that is also a lawyer.

[MrGiz]

As if the I.R.S. is a respected institution... Give me a break!!
If there is an established relationship between 1096 businessman and 1099 recipient... And businessman has control of his own "books"... Who is the I.R.S. , to say what "services" are legal or not?
There is nothing "illegal" about using someone's services in aiding one's business!

[Still Looking]

Originally Posted by Laz

Sounds like the best option if you need help is to use an accountant that is also a lawyer.

I just hope the IRS never hires any female divorce attorneys! They can find EVERYTHING! LOL

[London Rayne]

[quote=Sugardaddy;1755566]Filing a false document with the IRS carries up to 3 years.

And if that 1099 is over $10,000.00 you could be charged with smurfing or structuring which is up to 5 years.[/quote

It would be different if you said you were a LMT and you're really a hooker, but you are not saying a damn thing on your business license. I have an LLC already, so I would not need any "false" business person to issue me anything. You can easily get your own forms once you are classified as a legit business.

Not all of us are dumb hookers who didn't check with the "right" people, before making this decision lol. NOT paying taxes at all, seems to be the stupid way to go....especially if you are buying up cars and property!

Having a minor account to deposit "some" funds in is also a good idea...so is having liens on every darn thing you own, so it looks as if you're broke. If you "don't" own a home and are paying high rent, the best thing to do is NEVER put that rent money in an account. Before I owned, I was paying over 3k a month for a lease purchase. That money never saw the bank...went right to the lessor. I might deposit a total of $800 a month to simply cover water, cable, phone, and electric...the rest is handed over in cash.

I don't know about anyone else, but for the last 5 years I appeared as a struggling student whose dad bought everything for her lol.

We know it's a fine line...a gray one even, but I would rather be paying my taxes than not. I personally don't use a CPA, because I am capable of doing my own taxes. I used to when I had another business that was grossing a lot, but now it's not necessary. The only things I deduct are what I give to the Church, and day care which is really my parents.

I don't try and deduct hotels, gas, flights, etc. If you get too greedy, it can bite you in the azz. In most every case I have seen go to court, it was because Uncle Sam was not getting his piece of the pie. Tax evasion and money laundering cases are rarely under 100k a year. The big agencies/madames I have seen get busted, were always just that...BIG.

[simpleton]

I would be careful with any advice given on a shmb. I opened my first business in 2005. We did $960,000. that first year. In 2008 we were picked by a lottery to have our state sales tax audited. When this happened the state notifies the IRS. The IRS then performs their own audit. My personal tax returns will audited going back to 2000 along with my business taxes from 2005 to 2008. The auditor assigned to me was a complete douchbag. In the end I had to hire a Tax Attorney and $20,000(fee to the lawyer) later everything is just fine. I have a great CPA and don't get into any grey areas. Different people interpet the tax code different. And things are not always black and white. I would say to always be honest and dont try and hide any money. If for some chance you do get audited you won't have to worry about the audit. And that's a good feeling knowing things are in order.

[London Rayne]

I consult an Attorney before I take any steps...always have. I take what I read here with a grain of salt because afterall, everyone is a Doctor, Lawyer, IRS agent, or Ivy League graduate on the internet lol.

[simpleton]

Originally Posted by London Rayne

I consult an Attorney before I take any steps...always have. I take what I read here with a grain of salt because afterall, everyone is a Doctor, Lawyer, IRS agent, or Ivy League graduate on the internet lol.

That's because your such a smart girl. I really am a doctor and I make house calls. So if you ever want to get an opionion on your who hahhh shoot me a pm.

[London Rayne]

Bwahahaha! My hoo ha, is better than ever. She is taking a break until the 26th lol.