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Old 07-20-2008, 05:20 PM
 
Location: Central Texas
20,958 posts, read 45,410,702 times
Reputation: 24745

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Thinking? We were supposed to be THINKING???? Who knew?
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Old 07-20-2008, 05:58 PM
 
Location: DFW
40,951 posts, read 49,198,692 times
Reputation: 55008
Quote:
Originally Posted by Mike Peterson View Post
I didn't realize we were supposed to be paying taxes.

I thought since we are self employed we did not need to.
You only pay if you actually make money doing this business. I think Uncle Sam owes me some big bucks.
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Old 07-21-2008, 07:46 PM
 
Location: Palm Coast, Fl
2,249 posts, read 8,898,379 times
Reputation: 1009
Well, here's a little tidbit for ya to keep your eye on. I think the IRS is going crazy, lol.

Quote:
A recent ruling by the U.S. Tax Court has made it unclear whether business cell phone use is tax deductible. The case involved a self-employed individual and his assistant, and the court said his inability to prove that the phones were used for business purposes disqualified the deductions. In response, the National Association of Realtors has joined a broad-based coalition pushing Congress to clarify the matter through legislation.

Source: Arizona Realtor Digest (07/08) Vol. 30, No. 7, P. 8
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688
It doesn't say what the self-employed person did for a living and it just might be that his business didn't exactly call for heavy phone useage but apparently it was a ruling that bothered NAR.
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