Anyone here doing NH BPT/BET?
1) Compensation for personal services deduction is limited to the net income from federal schedule C. Using Schedule R reconciliation results in a smaller number for net income. Is compensation then limited to the smaller amount from Schedule R? The law does not clarify this. This only matters where a subsequent entry is made (on line 9) to add back state income taxes that were included as a federal expense.
2) 2009 booklet says that the compensation for personal services worksheet MUST BE FILED with your return! Is this new?
1) Compensation for personal services deduction is limited to the net income from federal schedule C. Using Schedule R reconciliation results in a smaller number for net income. Is compensation then limited to the smaller amount from Schedule R? The law does not clarify this. This only matters where a subsequent entry is made (on line 9) to add back state income taxes that were included as a federal expense.
2) 2009 booklet says that the compensation for personal services worksheet MUST BE FILED with your return! Is this new?
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