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Max W

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About Max W

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    Advanced Member

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    Boston Red Sox, Spanish Civil War History. Flamenco Music & Guitar

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  1. OIC when 941 taxes are also in arrears

    Please see my response in bold in the Quote.
  2. Section 121 & community property

    Tom, thanks for your hypotheses. They certainly provide some avenues to pursue. The house was re-fied in 2005 and spouse's name was on the loan papers and it was paid out of a joint account, although there are no longer any records to substantiate it.
  3. Section 121 & community property

    Yes, that is what it would probably turn to. What I have been able to find out is that if the client and spouse had split up before he died, he would have to go to court to claim community property. It is not automatic. Essentially, she gifted him half, but there would be no basis as it would have between spouses.
  4. Client sold home last year that had been purchased in 1986. The following year she got married, but did not change title to house. Husband contributed to mortgage payments effectively making house community property (CA). He died in 2009. Is there any way she can claim stepped up basis? TIA
  5. "she just wants him to get her SS when she dies " Interesting, since the SS stops when she dies, or better said, when her death becomes known, as there have been cases where the death was covered up and the SS checks kept rolling in.
  6. I use Paypal for most of my internet, store and restaurant purchases. I get an immediate email on my cell phone. If someone tries to use my Paypal account, which happened once, I know right away and cancel the card and get a new one.
  7. Equifax, freezing credit and E-Services

    You might be locked out of E-services when you are required to make the 6 month change in password? Or, when you renew your PTIN.

    I certainly agree with the reasoning here, but is there anything in the tax code that would allow this?

    Yes, ILLMAS. I was certainly going to suggest a 1099 for the cash payment, but for the free rent - I'm not so sure, although your suggestion is food for thought..

    Client purchased a 2 family home in San Francisco for rental purposes which already had a tenant. SF has some the of toughest rent control laws in the country. Because, the tenant had a "sweet heart" deal on the rent from the prior owner, the client wanted to renovate the house, raise the rent and move into the renter occupied portion. In SF, any of these reasons are cause for the evicted tenant to receive "Relocation Costs". The eviction cost the client over $10K in legal fees and another $20K to the tenant for relocation costs. In addition to this the client gave up any claim against the tenant for 7 months unpaid rent ($14,000). Clearly, the $10K legal fees are deductible as an expenses and it would seem that the payment to the tenant would also be deductible as part of the eviction cost, particularly since it is mandated by local law. However, I would would like to be sure that there is not something in our "clear, concise and unambiguous " tax code that says otherwise. TIA
  11. Change of Address on POA's

    Try calling PPS 866-860-4259. They are able to retrieve forgotten CAF numbers. So, maybe they can effect an address change, or at least point you in the right direction. BTW, it is not a stupid question.

    Hmm! Did anyone ever sign off allowing Equifax or any other credit reporting agency to sell our personal info? Of course, not because there is a loophole in Fair Credit Reporting Act which allows them to do so. Although, it won't help with the hacked information, you can stop any further dissemination of your info at the following web site. https://www.optoutprescreen.com/?rf=t, It can be done electronically for 5 years, but if you want it to be permanent it has to be mailed in. (This smells like some political compromise that was made in drafting the legislation.
  13. Foreign earned income

    I've scoured the pubs and the other references and couldn't pin it down. There is no mention of a contracted employee working in a non-treaty state, only those treaty states that have an agreement on SS, or self-employeds. I had been thinking of a client that used to work for the Australian Embassy in DC and had to file a form SE, but she was a US citizen residing here, so the circumstances were different. So, it looks like there is a loophole here - Work under contract for a non-treaty state and avoid SE taxes.
  14. Foreign earned income

    Client worked under contract as a teacher for several years in a non tax treaty country. No taxes were withheld by foreign gov. Income was well below the exclusion amount so no income tax. But, what about SE tax. If client were self-employed, he would pay SE tax, but he was on contract as a salaried employee. I still think he still pays SE, but just want to be sure. TIA
  15. Vegas - Recommendations for food.

    For me, the only way to eat in Vegas is at one of the many buffets, where it is all you can eat and with a huge variety to choose from. Wynn's , Bellagio and Rio are 3 of the best.