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But, but....I thought our homespun humor, cracker-barrel wisdom, and cornpone colloquialism (see below) somewhat compensated for our lack of expertise (hmmm...better make that "my"; John's pretty swuft 'bout taxin' stuff) and/or whatever other flaws we bring to the board. http://www.dictionary.com/browse/colloquial P.S. to Rita: Sorry about missin' the meetin' and didn't mean to diss your sincere invitation (would really like to meet you, a few others too, some maybe not) but my wife's got to have surgery then and wouldn't take it kindly if I went off somewheres (actually I gave up on those family reunions). Anyhow please forgive & I'll wash your shoelaces - with malice toward none and charity for all, I remain, your most humble and obedient servant, blah, blah, blah -- BB. P.S. to Catherine. My apologies (that's all I do anymore) if my Nazi-spelling censorship offended you - I don't like those corrections either, but couldn't resist attempting to be funny when the opportunity presented itself. You're a great poster and your scientific essays are impressive - thanks for everything.

Tick tock.

Rita, you're a very wise person.

Acting IRS Commissioner David Kautter has said the IRS expects to issue guidance on the Code Sec 199A passthrough deduction in July

Good States 1. Happiness 2. Positive 3. Blissful 4. Confident 5. Alcohol Induced Bad States 1. Dilemma 2. Poor State 3. Desperate Straits 4. Predicament 5. Alcohol Induced And of course the State of Affairs can be anything.

Just get the fastest computer you can buy and definitely get an SSD. I have 10 years of ATX installed on a server/workstation, running on an i7 3.5Ghz with 16GB of RAM, but you're mostly only running 1 or 2 years at any time.

Yeah, yeah, you two are the salt of the earth. We ain't buying that.

I think we're still waiting on the IRS for interpretation.

Me too. I once said this to a client who couldn't pay me in full: "Well, if you're short, Mr. Short, you can pay me next month."

But in the snow it's smart to wrap some barbed wire around your bare feet, just to get a little traction.

Some days I just open my mouth to change feet.

Didn't you learn from Obama that using pronouns like 'it' or 'that' can cause you a lot of grief? Care to clarify? https://www.nbc.com/saturday-night-live/video/needleman-the-dentist/n9232 Skip to 1:33 after the ad plays.

This is the client you have to remind to tell you when they sell or trade an asset. And why they have no basis in the asset. But I get what you're saying I think. I woke wondering why I think you can't take Section 179 after the due date and discovered that I was thinking about the olden days. Or perhaps pulled that out of my left ear. Which is exactly why I cannot do tax returns with the client present. I would have a heart attack the next day. Oh, and I would WALK 18 miles to make $5,000. Or give it to a good dentist. All day, every day, uphill, barefoot, in the snow, both ways.

6 GROUPS OF TAXPAYERS MOST AFFECTED BY TAX REFORM MICHAEL LAW, CPA - CANOPY ON MAY 20, 2018 Due to the tax reform passed in December, many taxpayers will be seeing tax changes in their 2018 tax return. Some changes are positive and some negative, and it is important to keep as updated as possible with the ever-changing tax environment, especially if your clients are among the groups affected. Let’s take a look at a few of the groups of taxpayers who will be affected the most. TAXPAYERS WHO WILL BENEFIT FROM TAX REFORM Most individual taxpayers will have less tax to pay next year, but there are a few groups in particular that will see significant tax savings. INFRASTRUCTURE/FIXED ASSETS For federal purposes, taxpayers who heavily invest in fixed-assets have almost full write off of depreciable assets they are purchasing. Before this law change, these taxpayers who bought equipment had to depreciate the cost over five or 10 years. Going forward, almost the only thing they have to depreciate for federal purposes is real property—the buildings they are buying. The changes to depreciation is one of the few changes that had an early effective date. The accelerated depreciation started for assets placed in service mid- September 2017. CORPORATIONS Corporations now pay lower marginal rates than most other taxpayers. The decreased corporate tax rate is significant enough that some business entities are considering switching their businesses from being taxed as partnerships to being taxed as corporations. Some are electing out of S-corp status to become C-corps. expect we will hear of more businesses doing this as the year progresses PASS-THROUGH ENTITIES To benefit taxpayers who are not corporations, Congress made a new “pass-through“ deduction. The name is a bit of a misnomer since a sole proprietor who files Schedule C could also take the deduction. The deduction is almost like getting 20 percent of the business’s income tax free. This new provision has specific limitations for accountants, engineers, and lawyers when their income exceeds certain thresholds. As with anything new, there ar a lot of questions about what does and does not qualify. The IRS expects to provide additional guidance in July. TAXPAYERS WHO WILL BE NEGATIVELY AFFECTED BY TAX REFORM PROFESSIONAL ATHLETES Professional athletes will be among the taxpayers hardest hit by tax reform. They used to be able to deduct training fees, out of town fees, equipment fees, etc. as two percent itemized deductions, but those deductions were eliminated as of January 1, 2018. Because they will still make high wages that place them in the top marginal tax brackets, they will pay even more in taxes next year. SMALL WAGE CONTRACTORS Contractors who work for wages instead of as independent contractors will be negatively affected by the new tax law. This situation often comes up in union trade jobs. Like the athletes mentioned previously, these contractors have lost the ability to deduct business production expenses like uniforms, tools, and safety clothin against their wage income with the loss of two percent itemized deductions. These tradesmen may include construction workers, electricians, iron workers, plumbers, etc. If these wage-earning taxpayers could switch to independent contractors, it might be beneficial in order to deduct the expenses, but switching could prove difficul California, for example, is trying to make it so more independent contractors will be considered employees. TAXPAYERS WHO ENTERTAIN Taxpayers who wine and dine or recruit clients and employees have lost many of their meal and entertainment deductions. Entertainment expenses such as renting box seats or rooms at stadiums are no longer tax deductible. There is some debate in CPA circles if a meal expense for working out of town is 50 percent deductible. Hopefully the IRS will provide more guidance on this deduction restriction before the end of the year. There are many other tax changes to be aware of outside of those mentioned in this post. One of the best ways to keep informed is to read a lot of different notices newsletters, updates, and publications. The Attorneys and Accountants Retirement Act revived one more time

Right, we're all waiting for that guidance. I took a webinar this afternoon on this topic that was pretty good, and the presenters said the same thing, waiting for IRS clarifications.

I can't attend either, so no need for anyone to worry about me ruining the fun. I do wish everyone well and hope all that show up have a good time.

Not needed! Sorry you won't be able to make it this summer.

What Abby said. Whatever you get, get the fastest. Get more memory (RAM) than you think you need. Get bigger drives than you think you need - preferably SSD.

John, you're just like me. A chronic grump. Have to say though that that funny line you put at the end of your posts for a while still gives me smiles whenever I think of it. It was (remember) "Despite the high cost of living; it remains popular." Yuk-yuk-yuk!

But for the present, just one more addition to the most expensive welfare family in the world.

Haven't you misspelled misspelling? According to an unimpeachable source (Wikipedia), there's no dash in there. If this is correct, consider yourself reprimanded, but not chastised, banished, or anything drastic.

One of my husband's friends says what we really need is not caller ID, but call IQ. To see if it's worth bothering to answer. Of course, I got not one, not two, but three "Windows Technical Support" calls yesterday. Kept two of them going for a bit by playing stupid. It was funny.

It was easier to screen my calls long before caller ID by the way people would pronounce my name. Home or work, I and my colleagues knew who was a real call I wanted/needed to take and who was just marketing or worse. I do miss that, but I have caller ID now on all our phones.