Good Morning. I'm in the process of doing my taxes for my full-time job and my small part-time mobile food business. I kept records and receipts for everything, except for my vehicle expenses, like gas receipts and mileage. I use the vehicle for my job, business and for personal use. Will it be okay if I don't deduct any vehicle expenses, since I have zero records? I'm not going to make up any numbers. It's a lesson learned. I bought a vehicle that I specifically use for business, and started keeping up with the expenses and mileage at the beginning of this year. Thank you.
Great question, I would love to answer that for you on my next live show! You can submit this question here for me to answer: www.JamieTrull.com/TH-cam
In general yes, if you sign up for payroll you'll also need to sign up for unemployment through your state. There is a way to mark exempt for this in most payroll systems, but you'll have to make sure you truly are exempt.
If an employer is being audited by the State employment commission, is this as bad as the IRS audit? I have never been audited in 18 years of being in business and now after massive Covid umemployment claims , they are out of money and find ways to recover. Please advise
IRS audits or employment audits aren't necessarily "bad", but they can be time consuming. In general, it all comes down to the documentation that you have. If you have good support for the things they ask for, you should be fine. In general, employment audits will focus on things like employee vs. contractor classification, etc. Missclassifying employees as contractors is a hot button and could result in penalties and back payroll taxes assessed.
Very Good,Thanks🙂
My pleasure
I am glad I found you. Great advise!
Glad it was helpful!
Good Morning. I'm in the process of doing my taxes for my full-time job and my small part-time mobile food business. I kept records and receipts for everything, except for my vehicle expenses, like gas receipts and mileage. I use the vehicle for my job, business and for personal use. Will it be okay if I don't deduct any vehicle expenses, since I have zero records? I'm not going to make up any numbers. It's a lesson learned. I bought a vehicle that I specifically use for business, and started keeping up with the expenses and mileage at the beginning of this year. Thank you.
Why not lie? They wont be able to prove it.
Good info! Thanks Jamie!
You bet!
What if they are taking retirement out of my 1099 can I claim that?
Great question, I would love to answer that for you on my next live show! You can submit this question here for me to answer: www.JamieTrull.com/TH-cam
By signing up for Payroll does it require them to sign up for unemployment?
In general yes, if you sign up for payroll you'll also need to sign up for unemployment through your state. There is a way to mark exempt for this in most payroll systems, but you'll have to make sure you truly are exempt.
If an employer is being audited by the State employment commission, is this as bad as the IRS audit? I have never been audited in 18 years of being in business and now after massive Covid umemployment claims , they are out of money and find ways to recover. Please advise
IRS audits or employment audits aren't necessarily "bad", but they can be time consuming. In general, it all comes down to the documentation that you have. If you have good support for the things they ask for, you should be fine. In general, employment audits will focus on things like employee vs. contractor classification, etc. Missclassifying employees as contractors is a hot button and could result in penalties and back payroll taxes assessed.
🌷 Promo-SM!!
👆👆
Very helpful..Thank you
You're welcome!