single-member LLC

Do I need to Pay Self-Employment Tax if I Have No Profit?

Do you remember your first job and the excitement that generated?  Do you remember your first paycheck and the shock that was generated when you realized that there is a difference between gross pay and net pay? Self-employment income can … read more

How do I Report My Income from a Solely Owned Business?

If you have a small business like a sole proprietorship or you are an independent contractor, or you operate as Single Member LLC, you generally would consider yourself to be a self-employed.  For tax purposes, you must file IRS Schedule … read more

Help with Reporting Offshore Accounts Foreign Bank Account Report FBAR Form 90-22.1

The IRS FBAR and Title 31 Helpline connects practitioners and filers, both domestic and abroad, with a team of specially trained technicians, examiners and specialists to answer technical Title 31 questions To reach the FBAR and Title 31 Helpline, dial: … read more

Schedule C – Doing Business in California as Single Member LLC

Beware of the single member LLC (SMLLC) rules of California…even if you have a net LOSS.  If you are a SMLLC doing business in California, you happen to fall into a small category of certain filing requirements.  As a SMLLC, … read more

Selling Your Home

Now that the housing market is beginning to rebound you may be considering putting your current personal residence on the market.  But what do you need to know before you call your real estate agent? First of all, does the … read more

What’s New on the 2009 Form 1040 – Related Forms and Schedules

As a follow up to the previous blog “What’s new on the 2009 1040”, here is a summary of some of the changes to the related forms and schedules that usually get attached to the 1040.  Again, I highly recommend … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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