91 posts shown.
Taylor Evans82 said:Totally.
Just pick the tax form option from the list of attachments and upload your signed PDF. It works like a charm!
Wait, I thought we weren't supposed to be sending the KFC stuff?
P.S. My decisions, for instance, never get "certified" and they go through just fine... I'm assuming the certification is digital—like an electronic signature covering the whole report—so I don't really see the point in this extra, old-school layer of verification.😉
amberdrifter14 said:I have two outstanding claims filed with Medicare regarding employees who started back on April 12, 2014... they still haven't been processed... it is quite frankly appalling.
Heads up, everyone! I was stuck in the same endless waiting game, so I finally called them—only to have the clerk tell me they’d already emailed the processed filings over a week ago. Problem is, I never saw a damn thing. She had to read the whole email out to me just to prove it existed.
Double-check your inbox so you aren't sitting there waiting while they sit there thinking they've already cleared you.
Jack Young said:Not me either, until last year... It’s like, who knows what kind of criteria they're using? For example, back in 2012, they requested it for one business but didn't bother asking for another, even though it was the exact same IRS agent. Who can say for sure?🤷
And apparently, these recruiters can't even read a balance sheet. 🙂 🙂 😂
Maria Miller7 said:It was submitted by my employer as an attachment to the tax filing, but without a transmittal sheet.🙂
The main thing is that you turned it in... don't let this get you down! Next time you'll have the experience under your belt and know exactly how to handle it... just hang in there.😉
cosmictinker24 said:If I have penalty interest hitting my phone bill account from $0.04, where am I supposed to categorize that in the general ledger? Which line item does that actually fall under?
If you’re asking which account we're talking about—you’ve got four different ones sitting there with those nasty interest rates from the commercial contracts. But if you mean the position in the URI, then forget it; those aren't subject to sales tax. 😉
Brenda Chase3 said:It’s taking far too long! I submitted my paperwork back on April 11th and I'm still stuck waiting. I actually showed a screenshot to the inspectors the day before yesterday just to prove everything was filed correctly, but they hadn't processed anything yet. They told us to come back tomorrow morning with the completed files.🤣 Honestly, if they refuse to stay on top of their deadlines, we might as well hand them nothing at all.
hahahaha typical government bureaucracy... classic.
Hey everyone... anyone else dealing with delays on health insurance enrollments or cancellations? It feels like my paperwork has been sitting in limbo for five days now. Is it just me?
placidlynx92 said:I dealt with a headache like this a few years back with a family farm setup. Once the owner registered for sales tax to cover their agricultural work, they were suddenly forced to charge sales tax on their vacation rentals too—even though the properties weren't part of the farm's assets and they had been renting them out as individuals long before the farm was even established. The IRS looks at everything through the lens of the SSN; the logic is that since Pero Perić is in the sales tax system, everything tied to his SSN gets caught in the dragnet, regardless of whether it's the business or the man himself.
In the US, it seems you just have to follow the reverse logic and everything becomes obvious.☕
David Green642 said:So what’s even the point of listing business assets? For everything else, the rule is you check if it's on the asset list and if it's actually being used for business purposes.
By that logic, if Pero buys a chocolate bar at the grocery store, he could claim the sales tax credit just because he’s a registered taxpayer. It wouldn't matter if the chocolate has anything to do with running his business.🙂
And where does the official business purpose of the LLC fit into all this?
Honestly, we might as well scrap the whole requirement. No matter what kind of deliveries a small business owner handles, they record it all as part of their business operations—even when it clearly has zero connection to their registered industry. 🙂
Henry Edwards33 said:Pero is registered for sales tax under his SSN, which means every single delivery he makes includes sales tax, regardless of whether the house is set up as a sole proprietorship or not. Since the property is owned by someone who is already in the sales tax system, they’re required to charge tax on rent—unless, of course, the house is being used strictly as a primary residence 😉
So what’s even the point of listing business assets? For everything else, the rule is you check if it's on the asset list and if it's actually being used for business purposes.
By that logic, if Pero buys a chocolate bar at the grocery store, he could claim the sales tax credit just because he’s a registered taxpayer. It wouldn't matter if the chocolate has anything to do with running his business.🙂
I’m getting conflicting advice on this one, so if anyone here has dealt with something similar, I could really use your insight.
Here’s the situation: Pero Perić owns a house. He’s been renting it out to tenants and has been reporting that rental income to the IRS, paying his taxes accordingly.
In the meantime, Pero started a small business—a sole proprietorship—and keeps full books. That business is registered for sales tax.
Now, Pero goes to the IRS, and an agent tells him he needs to be issuing formal invoices to his tenants and paying a 25% tax rate on that income.
The catch? The house isn't listed as a business asset. Pero hasn't moved the property onto his business balance sheet or anything. It isn't used for the business at all—his actual business is running a restaurant, which has zero connection to residential rentals.
Some people are telling him he *has* to issue those invoices because his business is in the sales tax system—basically treating Pero the individual and Pero the business owner as one and the same.
Others argue he shouldn't have to issue those invoices since the house isn't owned by the business, isn't on the business ledger, and the rental activity is totally separate from his restaurant work. From their perspective, Pero as a private citizen isn't part of the sales tax system; only his business is.
So, who actually has a leg to stand on here? 🙂 🙂
Brenda Chase3 said:Think of it this way: you essentially have to clear all those outstanding invoices and bills by recording them in your cash flow statements as if they've been settled. For any long-term assets you still hold, you need to calculate the depreciation right up until the closing date and book that as an expense. However, you also have to account for the fair market value of those same assets as incoming revenue. It’s almost like you’re selling the equipment or property to yourself. If you're registered for sales tax, you'll need to factor that into the whole process. To figure out the market value, you can just check sites like Craigslist or Facebook Marketplace; but if you're dealing with real estate or land, you'll definitely want to hire a professional appraiser to provide a formal valuation to include in your receipts.
Regarding the sales tax filings, those usually need to be submitted within three months of the official closing date, while everything else should be wrapped up and filed alongside your annual tax return by February 28th.
Brenda Chase3, you are a lifesaver! Seriously, thank you!!
Can anyone who’s recently shuttered a small business give me the quick rundown on how they wrapped up their books and when the final reports actually got filed? 😛
Roger Stewart2 said:That’s exactly what I was thinking too—but then this agent starts insisting I can just mail it in, though they can't even tell me how to actually get it to them! 🙂
Look, you have options. Either convert it to... whatever date format you need... or just head over to the form and use the dropdown menu for specific periods—it should be right there in the top left.
Has anyone dealt with registering employees through Medicare lately? What’s the actual word on their deadline—I'm getting mixed signals everywhere. Is that 8-day window still the rule? Thanks. 🙂
Everything's going fine on my end 🙂
Ethan Mitchell4 said:I tried logging into my MyMedicare portal today. As easy as it is to check my Social Security benefits online, they’ve made this whole process unnecessarily complicated. 🙂
Honestly, I can't stand it. ☕
They're basically just waiting for a revolution to hit. 🙂