Massage & Bodywork

March | April 2014

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28 m a s s a g e & b o d y w o r k m a r c h / a p r i l 2 0 1 4 best practices 5 Burning Questions for Tax Time What Bodyworkers Need to Know By Les Sweeney, NCTM, and Kristin Coverly, RMT LES SWEENEY: Ahh, taxes—one of the few topics where people can universally agree on something. We don't like paying them, we don't like tracking them, we don't like remembering to pay them … did I mention we don't like paying them? Some fun tax facts for you, Kristin (for starters, try saying, "fun tax facts" five times with a mouthful of potato chips): • The first income tax in the United States was assessed in 1862 to pay for the costs of the Civil War, at a rate of 3 percent. • The 16th Amendment to the US Constitution allows Congress to levy an income tax without apportioning it to the states or basing it on the US Census. • The name Internal Revenue Service (IRS) was first used in 1918. • There is a record label called IRS, cofounded by the brother of one of the members of The Police. Another fun fact to note: Neither Kristin nor I are accountants or tax advisors; any tax information shared within this article should be considered as normal conversation between friends over a beer or coffee. For specific questions related to your tax situation, you are best served by seeking out a qualified tax professional. KRISTIN COVERLY: I knew we could count on you to not only make our tax talk fun, but to somehow create a connection between paying Uncle Sam and cool music! Rather than assume we knew what our readers wanted to know about managing their BUSINESS SIDE

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