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Showing content with the highest reputation on 07/15/2012 in all areas

  1. Just took the RTRP exam in Fair Oaks, CA and, believe it or not, I passed. Thought I was too old to be taking tests. Guess I was wrong. I would advise a reading of Cicular 230 prior to taking the test. I was rustiest there. The computer research materials provided did lack seomething, however, it was good to have available. Will I ever find out what questions I actually missed or should I assume that I, of course, did not miss any?
    2 points
  2. When the client didn't allow you to represent him, he sealed his fate with the auditor. Were it me, I would not get involved at this point. I hear... "I ain't afraid of the IRS." "This will be simple, I can handle it." If my professionalism was not apparent enough for my client to let me represent them, then the client deserves what they end up with. I guess I am fed up with clients not listening!!!!
    1 point
  3. Well, the first mistake was that the tp decided to represent him/herself. What the tp said to the auditor regarding the repairs is unknown, but he or she probably said something like "Oh, I was fixing it up trying to sell it, and so it wasn't rented then. But then I couldn't sell it, so I put it up for rent again". If the tp was trying to sell the property, it is probable the repairs were not deductible rental expenses, but selling expenses (capitalized to basis if the property had been sold). Therefore, it's likely the auditor is making the arguement that the property was not available for rent during that period, and so the expenses would not be deductible as rental expenses. However, when put back into service, you could argue that the repairs would be capitalized, and depreciated.
    1 point
  4. Congratulatiions to both of you. I, like Mark, thought that I was too old to be taking tests and was a total basket case for about three days before. However, once I got into the cubicle, the calm descended and I found out that I actually knew most of this stuff. Am SO glad I got it over with early. Just hope they don't come up with any more bright ideas.
    1 point
  5. This must be about the funniest descriptions of women and men I have ever seen...so vivid, so true!
    1 point
  6. The Geography of a Woman Between 18 and 20 a woman is like Africa in the late 1800s, half discovered, half wild, naturally beautiful with fertile deltas. Between 21 and 30 a woman is like America in the mid 1900s, well developed and open to trade, especially for someone with cash. Between 31 and 35 she is like India in the early 1900s, very hot, relaxed and convinced of her own beauty. Between 36 and 40 a woman is like France in the late 1900s. Gently aging but still a warm and desirable place to visit. Between 41 and 50 she is like Yugoslavia in the early 2000s, lost the war -- haunted by past mistakes. Massive reconstruction is now necessary. Between 51 and 60, she is like Russia in the late 1900s, very wide and borders are unpatrolled. The frigid climate keeps people away. Between 61 and 70, a woman is like Mongolia in the mid 1900s, with a glorious and all conquering past but alas, no future. After 70, a woman is like Afghanistan is now: most everyone knows where it is, but no one wants to go there. The Geography of a Man Between 15 and 70 a man is like Iraq in the late 1900s -- ruled by a dick.
    1 point
  7. We will never know! I got so stressed out about taking the exam and then stressed while taking it that as soon as I received the congratulation letter I got sick and it took me 10 days to get over it. I agree about the circular 230, however I did go over it pretty well, and in my opinion some of the questions asked were not covered, but I do believe that common sense would come into play. Just my two cents worth! By the way Congratulations! Deb!
    1 point
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