It’s a hobby. Not a business.

1095-A went from refund going from $100 to $1300 and was concerned thanks

Funny and informative content! I hope you’re doing well personally and professionally.

What is passthrough ???

its just a loan i got scamed

How do you know if you received too much or too little

Nobama care is a joke only to help the poor.

What I assume is a little simplification is "if you itemize you'll get a 1099 g but if you took the standard reduction you won't."

How does that work though because I generally get money refunded from the state based on how much I payed to the state. If a tax credit is done, that means I get less of a refund because the other state gets their money and my state deducts that as a credit but I get less money in a refund but I still paid that amount to the state for that year.. so am I paying less of my state taxes through out the year if I'm paying another states tax?

Newer EA here. Thanks for explaining!

How do you only have 13k subs. This is a fantastic video

I dont even have insirance and there saying someone in my household did

abolish income taxes

Hello sir if I live in Va and work in NC and I make 80k a year, how much will I be tax that the end of the year pls

What does 1099G mean, did the government decide on your unemployment benefits or not?

Thanks man! I always wondered what this all meant. Awesome teaching skills!

"if the losses are going to be limited to the income, as is a case with a hobby" How in the world (or rather, WHERE in the world) can you claim losses on a hobby at all? You'll deduct nothing for a hobby...

How do I get my bank statement into excel if it’s 10 times longer than the one showed?

How to get a w1095 form

I was searching this video and finally found. Many thanks enjoyed listening. Let me go back to QB and practice. Greate one.

There is no law to file taxes

How to report non-taxable distributions on K-1?

Is the EA considered a license or is it just a credential given by the IRS

very good content thanks 🙏

very good quality content, thanks a lot❤

So there's a shortcut for calculating MACRS 200% DB depreciation by looking up the percentages in Publication 946... is there also a shortcut for calculating the Straight Line depreciation?

@ 1:50; yet another reason to eliminate all income tax and implement a sales tax.

Before business has customers, we can write off up to 5k of startup costs?

Does one have to have revenue or a customer signed up to officially start the business?

Big thanks for this helpful and frank video!

This question is really great! I’d like to hear More on active trader business and depreciation deductions that could benefit the business.

It’s kind of amazing actually. Seems like Intuit watched this video and fixed so many things you spoke about.

The government should stop this fake stuff.

You are the best!!! Thank you so much for all your hard work

Thank you so much for the information

Wow. Great walk through explanation. Thank you! Question: If the sole proprietor is UNDER the threshold amount and also listed as a "consultant" on an EIN application ...would that disqualify them from getting the QBID as a SSTB? Or despite the SSTB status would they still receive the QBID because they fall BELOW the threshold amount?

Awesome video. Very informative. Thanks for sharing!

This is exactly what I needed to see. Thank you!

I send my check in 2021 to the irs. and I being getting a letter saying the I owe money. I already call irs couple times and (they got it fix) and I still getting a letter saying the I owe. What should I do next ? Just call again? Is going to be my 4th time calling.

Answer some questions in the comments

if i have a capital loss and i file married versus filing separately am i able to deduct the careyover loss from my wifes capital gain?

that's not right...

so basically they are loaning you, YOUR OWN TAX REFUND!!!! TO PAY FOR HEALTH CARE...I THINK TECH COMPANIES SHOULD FUND FREE HEALTHCARE FOR ALL!! THEY TAKE YOUR HEALTH DATA, AND SELL IT. WELL THEY SHOULD ALSO PAY YOUR HEALTH INSURANCE....

OMG, get to the answer

Excellent and very simple video ! I still have one question though. Can you not use your capital loss carryover for the later years and instead pick and choose which year you want to apply it to ? Or do you have to use it every year you can use it ? I’m asking this because if you’re in a very low tax bracket at the moment, offsetting $3000 wouldn’t save you too much in taxes however in a later year when you’re in a higher tax bracket, that same $3000 tax deduction can save you much more in taxes. Please do let me know and thank you again.

Absolutely brilliant video. I subscribed. This is a very niche topic so I had quite a bit of trouble finding anything about it on the web. Thankfully you showed up on KZbin to explain the very thing I was looking for. I figured there’s absolutely no way big investors would take a measly $3000 tax deduction on their income when they’re losing hundreds of thousands from one bad trade. It’d take them 50 years just to offset $150,000 of income. I very much believed you could use your capital loss carryover to offset capital gains for later years but unfortunately the tax system doesn’t work on beliefs so I had to get a confirmation. Thank you again so much for such a simple and in depth explanation. God bless 🙏

I know this post is 3 years old. As far as KZbin I would wait until your channel is monetized with Google AdSense money. Way easier to show you're working to grow your channel for profit. Just a suggestion❤

Mr. Efros, i have done only individual tax returns. I passed Part 1 and 3 from the SEE. I'm having a hard time understanding the trestof basis for partnership, I can't get it. Do you have any tips that can help me to pass part 2 of the SEE. Thanks.

Fk the IR$

"I hate questions that don't give you the answers." Yet the EA exams don't let you know what questions you missed nor what the correct answers are and we have to go our entire lives never knowing which questions we missed... That will haunt me to my grave.