Amy is a calendar-year taxpayer reporting on the cash basis. Please indicate how she should treat the
Question:
Amy is a calendar-year taxpayer reporting on the cash basis. Please indicate how she should treat the following items for 2019:
a. She makes a deductible contribution to an IRA on April 15, 2020.
b. She has made an election to accrue the increase in value of savings bonds even though the increase is not received in cash.
c. She prepays half a year of interest in advance on her mortgage on the last day of 2019
d. She pays all of her outstanding invoices for standard business expenses in the last week of December.
e. She sends out a big bill to a customer on January 1, 2020, even though she did all of the work in December of 2019.
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Dudhat Vaidehi
I tutored mostly elementary school students privately after school and during the summer. We met in their homes or at the public library. I charged an hourly fee, and I provided any necessary materials.
Having taught in special education in two local schools for many years meant that I had contact with a lot of parents of special needs students. I never had to advertise — word of mouth was how most folks knew of me. At one point I did have a website, but didn't utilize it much. I stayed very busy, especially in the summers, and always had a full schedule. I typically met with each student's teacher in order to get an idea of what the focus of my instruction/remediation should be. Becoming familiar with the student's learning style(s) was also very helpful. Often parents would share records and test results with me. After each tutoring session, I documented the student’s progress and gave parents written updates, as well as phone calls or emails as needed.
While my students and I certainly utilized technology and the internet often during our sessions, I never tutored online or for any tutoring company, so am not familiar with the curriculums or methods used in those settings.
Tutoring one on one was very enjoyable and rewarding. My students and I had fun, and grew quite fond of one another. The extra income was a bonus. I had to retire from tutoring due to a physically handicapping disease, and miss my students very much.
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Related Book For 
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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