The TaxMama Talks About Year End - Show #16

Eva Rosenberg better know as the TaxMama (www.TaxMama.com) has managed to tease and cajole her way through some of the most harrowing experiences with desperate clients, intractable (and adorable) IRS agents, uncooperative and uncontrollable spouses, and managed to keep the respect of the tax authorities, tax professional community and taxpayers throughout.

After overcoming her total confusion about taxes and her sheer terror of the IRS, (albeit with years of study, degrees, research, writing, IRS interactions and experience) TaxMama has managed to find a way to help the less fortunate deal with their tax pains and misfortunes. Not a person comes to see TaxMama who does come away richer for the experience (even after paying her exorbitant fees).

Eva Rosenberg, for those who care, has a BA in Accounting, MBA in International Business. She is an Enrolled Agent, authorized by IRS to represent taxpayers in disputes, audit and collections issues.

She has 20 years of tax preparation, planning and representation experience and periodically teamed up with IRS to provide seminars so Tax Professionals can learn to deal with the maze of tax laws and obscure administrative procedures that baffle us all.

TaxMama answered the following questions:

What license are needed to operate a business?

Should a fitness business incorporate?

What should small business do about a bookkeeping or accounting system?

How do you select the right accounting tool or software?

What is and isn’t income, among your deposits to your business account for the year?

How should a small business decide if they have a profit or is your loss for the year? And what should one do before year-end to make sure?

Should we be hiring family? Do we need to set up a payroll before year-end?

Are there last-minute purchases one should make this year, or are you better off waiting until next year?

Should we be funding or opening up any retirement accounts before year-end?

How does bartering affect our taxes?

What are the rules for home office deduction on our taxes?

To listen now click here: Fitness Business Radio (38:00 minutes 8.69 MB)