Can anyone share some tips for budding entrepreneurs. What are the do's and dont's for them.

To my peers. Do you have concerns over the new RTRP(Registered Tax Return Preparer) testing and licensing? Do you have up to date information? Are any of you thinking of leaving taxes. What about you fincial planners that also prepare are you understanding the disclosure rules that efect everyone in the tax industry? Look for some great dialog.

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Is a credit card statement considered a viable replacement of a receipt for income tax documentation of expenses or are credit card slips still required?

If I'm participating in my employer's 401K plan, may I also set up a SEP-IRA for my self-employment income?

Can I claim child tax credit for my son born on December 31?

Is commission rebate from the buyer's Realtor to the buyer a taxable income? Transaction was done outside of the escrow and 1099-Misc (Box 7) was issued to the buyer following January. 1) is this taxable income for the buyer and 2) if so, is he responsible for SE taxes as well?

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