Posts by Morgan Mitchell

Under the old income tax regulations, restaurateurs were required to maintain detailed records for the purchase and usage of supplies and consumables. It’s been a minute since I’ve worked in this specific area, so I can't quite remember if that requirement is still on the books. Does anyone know if that's still mandatory, and if so, which specific section of the tax code or federal regulations covers it? Any help would be huge...

electricviper23 said:I only ever update my info through lana.mirovinsko.com, and so far, nobody from Medicare & Medicaid Services has ever come looking for updates. If they’ve switched to an automated system, I honestly assumed everything would sync up automatically once I updated it on the Social Security site...🤔

The folks at the US Census Bureau told me that sign-ups and cancellations are all handled electronically via lana.mirovinsko.com, which then supposedly syncs right over to Medicare & Medicaid Services. But for anything else? Apparently, you still have to hand-deliver paperwork because their electronic systems aren't quite there yet. If you need to change your last name, for example, you have to bring in a stamped, signed employer form along with a copy of your ID. They said the new insurance card gets mailed straight to the employer's office.

I ran into the exact same headache when I was setting up Windows 10. Honestly, your best bet is just to call that free support number from Microsoft. They'll walk you through the fix. Basically, it looks like your certificates got wiped out during the process, so you have to reinstall them. I can't quite remember the specific steps myself—my memory is a bit fuzzy on the technical details—but if you give them a ring, they’ll guide you through it step by step. Once I got mine sorted out that way, everything started working perfectly on Windows 10.

I'm about to issue my very first invoice here in the USA, so I could really use some guidance. It's for a service provided by a small business that isn't registered for sales tax. On the invoice, should I explicitly state that the business is exempt from collecting sales tax under specific tax code sections? Besides the standard required info, do I need to include any specific legal clauses or maybe something in English if the client is out of state? Also, regarding paperwork—do I just file a summary report at the end of the period, or is there more to it? Thanks so much for the help!

I really need some quick advice if anyone can help me out. My travel agency organized a symposium in partnership with a medical association (who acted as the main organizer). According to our contract, the agency handles all the registration fees, while the association manages the donations and sponsorships. On top of that, our agency is responsible for paying all the vendors. Right now, I’m looking at a pile of invoices for catering, dinners, museum tickets, and stuff like that—all made out directly to the agency. Should I be booking these as 100% deductible business expenses, or should they go under representation/entertainment? If anyone has dealt with this before, I'd really appreciate the help! Thanks so much!!

Henry Edwards33 said:You’re getting hit with sales tax on top of an increased income tax rate.
It’s the exact same headache you get with any standard invoice.

Thanks for getting back to me! So, since this small business owner isn't part of the sales tax system right now—meaning they wouldn't be claiming those credits—does sales tax still apply to these invoices? Or do you just record the total value of the service, including the tax, as an in-kind receipt without actually paying any tax out of pocket?

So, I’m looking at this situation with a local tradesman who used to be registered for sales tax back in the day but opted out around 2015. He’s sitting on a bunch of unpaid invoices from way back—we're talking 2010 through 2014—and since they're all under $1667, nobody ever bothered to sue for them. Can I actually write those off, or am I totally off base there? Or should I just go ahead and record them as paid? The issue is that these old bills have sales tax baked in at 23% and 25%. How on earth do I log all that in the KPI? If I mark them as paid, does he end up owing more tax on them? 🤔 His previous accountant basically just ignored the whole mess and let it sit, but now that I've taken over, I really want to get things squared away properly. 😵

I'm working on filing a tax return for a small business owner and I have a quick question: if she was out on maternity leave for all of 2015, but she has two kids listed on her tax card, should I still include the personal tax credits for them? 🤔

So, I’m looking at how this travel agency works—they basically act as a middleman. I haven't dealt with their specific setup before, so I'm a little tripped up on the bookkeeping side of things. Here is how it goes down: an agency gets one big payment from a customer that covers everything—the actual stay plus their commission. Then, on the next bank statement, the agency sends the remaining balance over to the property owner, keeping just the commission for themselves. Now, when looking at the agency's income, only the commission actually counts as revenue. My question is about that transfer they send to the owner. Since that money is really just passing through their hands, how should I record that outflow? Does it count as a business expense, or should I just bypass it entirely? Or is there a specific way to track it so it's documented? Any help would be appreciated...🤔

So, I’m looking at this small travel agency set up as a sole proprietorship. They basically act as a middleman—they take a commission for booking accommodations, and then the rest of the money goes straight to the property owner. I was wondering if anyone could walk me through how to handle this in KPMG? Specifically, what happens when a guest pays the full amount into the agency's bank account, but their actual earnings are only a 15% commission? Since the whole lump sum isn't technically revenue, just that percentage is, how does that look on the books? 🤔