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About Roberts

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  1. Win 10 Update on Tuesday

    I have only Windows 10 on all my laptops, all using Bit locker and have never had a problem with updates.
  2. Bug Out

    15 years ago if our office went up in flames - we were basically out of business forever. We had EVERYTHING in physical form and we had about 30 filing cabinets worth of stuff. Today it all fits on a zip drive and I have 2 real time copies and a bi-weekly backup. A ton of our stuff is scanned into and operated off of a remote office environment via another firm. Amazing how things have changed. When it snows here and I stay home from work - I literally can do 100% of what needs to be done and no client would know I'm not in the office. If I need to switch laptops in an emergency - it would take me <30 minutes to up and running.
  3. Idle property (Expenses & Depre)

    IMO, I'd want to document the amount of repairs and decide if what your client is doing is actually a rehab. If they decided to do a significant rehab of the property, a temporary stoppage is normal and capitalize the rehab expenses. If what they did was drag a small repair job out for 16 months - that's not really applicable. The IRS would IMO want proof they are actually actively managing the property as a rental business.
  4. Minimal Depreciation

    While the tax return is showing a loss due to depreciation, it would be obvious that he's not actually incurring a loss - right? Many real estate investors will go a decade without showing a profit on their tax return. $5 million in assets and he's recognizing $100k in revenue is the problem (I'm assuming you were just using a low example).
  5. invoicing software

    I'm cheap so I generally keep track via a spreadsheet. Our billing is probably less intrusive and involved than yours. I book all payments into Quickbooks but don't use it for billing and accounts receivable.
  6. paying back medical ins from settlement

    JMO but you'd have to know what the court settlement states. Was part of the settlement based upon an agreement they would repay the insurance company? If that's the case, as was stated the bills were paid by someone else still. If it was a voluntary repayment, I think that's an arguable position. Why did they pay back the insurance company? edit: just looked it up - insurance companies can get repaid when the settlement includes their medical expenses. No deduction in my opinion.
  7. DFAS AND 1099R

    Correcting Your 1099-R Retirees and annuitants with questions and concerns regarding incorrect tax information may contact the DFAS Customer Care Center at 800-321-1080, submit your inquiry online on our website, or write/fax to: Retirees: Defense Finance and Accounting Service U.S. Military Retired Pay 8899 E 56th Street Indianapolis IN 46249-1200

    If they are a cash basis landlord, why would one issue a 1099 for unpaid rent?
  9. Marriage

    I could see people caring if they were not filing correctly to avoid paying on a student loan - otherwise it isn't a major factor IMO. I've also known people who were married and I had no clue. My neighbor for one had been living apart from her husband for 30 years and I just assumed he was dead from the way they talked! Maybe wishful thinking? Guy I know got divorced and moved in with his ex-wife a couple years later. If the IRS was ever going to have a read flag you would think that was it. They aren't a couple at all, just friends living in separate parts of the house.
  10. Marriage

    How does the IRS determine someone is married if they aren't? I have clients who live together, have the same last name but insist they are not married and never have been. I file as two single individuals and the IRS has never cared. As far as I can tell their only justification for wanting to be single (assuming they are actually married) is that they keep their finances completely separate. They would actually pay less in tax if they filed as married. Her deduction is only partially being used.
  11. 2018 PTIN

    Received the email so I thought I'd renew - my password isn't working and when I requested a new one - I'm not getting an email with it. Every freakin year I have a problem somehow with the IRS website and my log in.
  12. Update CCleaner Now !

    Hacking is NEVER ending. Literally never. They will always find vulnerabilities in online accessible software. The US Government (not to be political) literally installs malware on every new computer sold with Apple or MSFT operating systems unless you build it yourself.
  13. Equifax Hack

    If you waive the Equifax lawsuit right you aren't just waiving your claim, you are reducing the financial punishment Equifax will be given. If everyone followed that through process, Equifax would be able to avoid most of their punishment. Plus by signing up to their free service, you'll be bombarded with advertisements from them in a year to renew or risk being hacked.
  14. Love fall - hate picking up the leaves. One of the reasons we are beginning the process of moving to a condo.
  15. Equifax Hack

    Sorry, missed the messages to me. Equifax is waiving the fee and so is Innovis if you are inclined to put a freeze over there as well. For the wife and I it was $20 total - not horrific. The fees are set at the state level. Financial crimes rarely end in prison terms. I don't know of a single mortgage broker or investment banker that went to prison for mortgage fraud. Equifax and their investors will pay a substantial fine, all the key people will quit and move to other companies doing the same work and it'll all be forgotten from their end as we deal with this for the next couple of decades. Keep those pin numbers in case you ever need to suspend the freeze. We have no debt but might be buying a condo in a year so I'm a little concerned we might need a bridge loan as we sell the rest of our property to pay for it. I wonder if the loan companies tell you which company to unfreeze so they can check your credit.