Mike 1040 LLC

City of Philadelphia Business Privilege License Tax Blogger Insult

     It seems that the City of Philadelphia Revenue Department may in fact feel that tax bloggers are second class citizens. Even after insisting that having the tiniest banner ads would subject a tax bloggers to the city business privilege tax, and even after Mayor Michael Nutter got involved in the explanation himself, the city revenue representatives seem to have overruled the mayor. Apparently if you have a connection with the Child Care Information Service and provide... READ MORE Posted April 14, 2011 at 12:43 PM

Tax help philly new social security tax cut mike1040

There is a reduction in the rate of social security tax for employees. Employees should notice in their next pay check a 2 percent raise. For every twenty thousand dollars of income that represents $400 of additional pay. This reduction was part of the end of the year tax deal between President Obama and the Congress. This  tax break replaces the Making Work Pay Credit which was repealed. If  you earn more than $20,000 the new credit means more money. If you earn less, then you did ... READ MORE Posted January 25, 2011 at 06:58 AM

Commercials for free tax preparation are a scam

There are plenty of commercials about free tax preparation on tv and the internet. One of the most popular ones talks about filing returns for free for a limited time. Well, if you listen closely to the disclaimer, it tells you that any state return would be extra. Since about forty-seven states now have personal income, what's the point in not including state returns. It's simple. It's not a genuine offer but a bait and switch to a paid product. The disclaimer goes on to state that the earne... READ MORE Posted January 16, 2011 at 06:14 AM