@Taxathrone wrote:
@Anonymous_ -- those sources are wrong? Well, dang...! Are you saying this as a CPA, too?
Yes, those sources are wrong.
You really need to understand that most CPAs do not practice what I would term "retail taxation" (i.e., tax preparation and consulting for small business). In fact, most EAs know infinitely more about taxation than do most CPAs. In fact, you can get all the way through many MS in Accounting programs without taking more than one course in federal income taxation.
Frankly, and to be blunt, you can do what you feel is appropriate. If you want to pay self-employment tax on bank interest (which is not subject thereto), go right ahead.
