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Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA Volume 3 Issue 104 March 16, 2001 |
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 Haven't A Clue - What To Do? From: Hudson, IN I am doing my brother and his wife's small business taxes and I'm using the TaxAct program. I'm on the state now and it asks for tax add back. I guess that I'm suppose to add some tax from the federal back on to the state, but I don't know what I'm suppose to add back. Can you help me? Susie Hi, Susie, Sorry. I am not familiar with IN taxes. I'd have to do the same thing you should be doing before you do ANY tax returns. READ THE INSTRUCTIONS! Pick up the Indiana State instructions and read them before you finish preparing the returns. I'd be happy to do that for you - at $150.00 per hour. Cheaper if you do it? Right? Or hire a local tax pro who already knows the rules. Don't just rely on tax software to get all the answers right. And NEVER, NEVER be doing someone else's tax returns if you don't know the laws. I don't care WHAT kind of great tax software you're using. Do you have any idea the kind of liability you can open yourself up to - for doing a favor for a friend? Especially a family member. What's if they have income you don't know about - but the IRS learns of it? Sure, you weren't the PAID preparer. But, you did the return. And who do you think your friend is going to point the finger at, if they are pressured? "Oh yeah, I TOLD her. She left it off, not me," they'll whine. Be careful. Please. Best wishes, Eva Rosenberg |
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