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Betcha' y'al think that Donut Day was something dreamt up by Krispy Kreme or some other donut company. In fact is wan't any food company, or any other business. It was the Salvation Army who 80 years ago initiated Donut Day in honor of the Doughnut Girls who served treats to our soldiers during WW1. In case anyone doesn't get the connection, the soldiers of WW1 were called Doughboys, a term that originated during then Mexican-American War of 1846. But that;s not all. There are tax implications as well as some additions to the list. To find out more, here is the article from Forbes, https://www.forbes.com/sites/kellyphillipserb/2018/06/01/free-doughnuts-and-a-side-of-sales-tax-trivia-on-national-doughnut-day/#68d8172f65c7

It is indeed ridiculous to hear of so many states requiring proof of state tax withholding, even when the state itself is doing the withholding. Lazy and unaccountable. We are spared this misery in TN where there is no such income tax. So we don't have to deal with state idiots, right? Wrong. Just talked to guy at the state, who asked me to file an amended return for a business tax just because the state changed their database. Rita, let's welcome people to our intelligent state where everyone is smart, lives in fashionable houses, has honest politicians and well-manicured lawns.

Yeah, But I can eat a whole box of holes, whereas I can't eat just one donut. We used to have a place her that make "Texas" donuts. They were the size of a 13" dinner plate. I miss that place.

I know just how you feel; I'm real picky about my donuts too. I insist they have a hole in the middle.

Uber. Hey, how about Danbury, CT, for the NY/CT-ATP two day seminar every December?! Ethan Allen Hotel has nice rooms.

The largest raised dough I made were the max diameter of the proofer/fryer screens, 2ft x 2ft cooked. Impossible to flip without damage, so they were dunk fried and did not have the white line around them.

The Fingertip Tax Facts tables do too. Here's the link for the Tax Book tables: http://www.thetaxbook.com/updates/TheTaxBook/Updates/2018-01-15_Withholding_Tables_for_2018.pdf

Once I was driving in NYC and came to a street where the cars blocking me had the right of way. I stopped and waited but cars kept coming. Finally I decided to risk everything and try to cross. The cars all stopped and I got through. I got to a hotel in Brooklyn that had a parking lot and stayed there--took the subway everywhere I had ti go from then on.

I ate too many doughnuts... Then this dude beat me up...@#%$*&

Will the crypto exchange they use generate a 1099? Most don't and even those that do won't for small amounts. If they want to do taxes, have the client pay them and deduct it from the distribution. It isn't a loan and it isn't a gift. Technically should be run through a partnership but I doubt the IRS is going to get upset if the taxes were paid. If the client has carry forward capital losses that they burn up with the gain, ethics can come into play.

Yes, you will recalculate any refundable credits that are impacted by a change in AGI, or MAGI and household income in this case. It goes in the "after carryback" column of form 1045, and you will complete a form 8962 with the revised figures. It's in the instructions for form 1045, line 21.

Oh, I'm not afraid of being in cities or crowds and I share in the urban driving in our travels. But the thought of driving in NYC and missing exits or turns is what is worrying, probably because I haven't done it myself.

This dog's closed eyes tells it all. Good dog.

Good ideas and also on possibly combining it with some CPE! Maybe a good tax course on the new law later in the year. NYC for this country girl may require some tranquilizer and a blindfold though. I, too, regret not being able to make Rita's in TN because there are lots of people here I'd like to meet someday, even give some a hug ... a real hug. lol

Why don't we wait until after Rita's and then see how much interest there is for another. I have a feeling there will be a lot.

Yes, driving in the city can be daunting. It's the crowds that worry me so I only take public transport going to Manhattan. There is no parking unless you don't mind parking garages that all seem to be valet only (Spothero.com is my go to for a spot in cities). But since most streets and avenues are numbered, people like us would never get lost, maybe even be able to give out directions to the numbers challenged people.

The Tax Book Tables are easier to use as they eliminate a step.

Why couldn't he report income on Sched D and issue nominee 1099B's to the other participants, offsetting that part on Sch D? https://www.kerezmancpa.com/2014/01/file-nominee-1099s/

MMmmmmmm..... .......

We tend to have a few who forget the checkbook (or wallet) and send a check once home. If they forget, we send email reminders with the bill attached. However, when gearing up for the new year we will occasionally find one or two who slipped through the cracks. Those people get our welcome packet with a note that NO new work will be started until the prior balance is paid. Over twenty years, I've only had a few people stiff me, and for all of them I was glad to see them go. Although one lady came back almost ten years later, hoping I had copies of her daughter's adoption papers that had been lost (burst pipe? something; don't recall). She still owed $150 (a partial pay who stopped). I promised to look after she paid and I had payment through paypal in five minutes. *And* I found the adoption paper scans, too. She was thrilled. But I would not take her back as a client! (Not that she asked.)

Ooh, ooh, we should do this, too!

And I thought you would never ask. I feel terrible that I can't make it to Rita's due to an ongoing obligation of care giving here in Boston, but I do travel monthly to NYC to visit Mom and the rest of my old crew. Had a reunion last year at the LaGuardia Comfort Inn and I thought it would be a great place if we ever got together. Maybe plan it when some CPEs are available. What do you think?

Volunteering?

I may dust off my custom cutter and make some, but as an old (long ago, not age!) dough slinger, I only truly enjoy donuts I make... and they have to be hand rolled, cut, and fried, not put through a sheeter or any other automation.

Ha! You're very kind MWright. I've had a lot of practice, it's how I get thru life and get things done. Keep smiling and be happy because life is too short to lose out on that extra 5% when and if it comes our way. Thanks MWright, you're a bit of a charmer too, I can tell! Bill

I believe ATX does that automatically for you when you save the amended return, but I prefer it before the name so it shows in the tab at the top for open returns. Sometimes I'd have both the old return and the amended return open and it's easier to see you're in the file if it says Amended at the beginning.

FDNY you are certainly a charmer!

In Missouri you can get a food pantry credit for donating food. There is a limit on the amount of the credit each year so if you are not in early enough you don't get the credit since it has all been given away. I have a client who donates a lot of food to our local food pantry. Twice now Missouri asked for support for the withholding. By the time the return got processed Missouri said he was too late for the credit.

Nebraska does the same thing. It's almost always the only withholding is from their 1099-R for teachers. It's just a good way to drag out paying the refund.

I've had one client so far receive a CP2000 for 2016 that was for unreported 1099R for a 401k distrib with code "1". In her case the proposed increase to gross income was correct and she agrees with the correction. One thing that was strange was that the notice proposed an adjustment increasing the PMI deduction on Sch A when her income was increasing so the deduction should have been further limited, not the other way around, but then that increased deduction was NOT factored into the proposed increase in tax. It was like a memo item, and I could not tie in the amount.