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I want to be a barista. I make excellent espresso drinks if I do say so myself. If any of you pass through KS, let me know ... I'll deliver carside ;)!

I could see myself working in a cool coffee shop (no chains!) in later life. I wouldn't mind doing some roasting of the beans, too. Or maybe a brewery or distillery. Or an animal shelter. All things I have an affection for.

We started collecting EIP3 data when people were confused about EIP2 pmts received in Jan/Feb. Have maybe half of those already. Ugh. What a nightmare!

For the purpose of due diligence by a purchaser of a tax practice, under sec 7216(n) the seller is allowed to disclose names, addresses, emails, phone numbers, the tax form and entity classification of the clients. You may find the following blog helpful in this regard: https://www.johnrdundon.com/irc-7216-disclosures-issues-to-consider-when-selling-your-practice-start-with-a-tight-nda/

I have had at least one client who swears she did not get the second stimulus payment, and actually looked at the bank accounts to check, but got the letter from the IRS saying that she did. When we checked, they had issued the payment as a debit card. Once they have done that, the only recourse is to contact the "bank" that actually issues the debit cards for the IRS. She did that, and they reissued the card, but after she activated the card, it showed a zero balance. And apparently it is impossible to talk to an actual person to get anything cleared up. This is a huge waste of my time holding their hand through all of this.

This is very helpful info, Hahn. It's been years since I had a client in the military, probably back to my Block days. He has said that CT is his state of record. He himself has never maintained a PPA as he lived in his mothers home in CT and attended Yale in CT through May 2021, but his mother's home is open to him, probably without any restrictions. I think his first year will be intense, so he might not step foot in CT for 30 days during 2022. I guess then it depends on if he maintains a PPA in another state... Would that mean no state tax to any state, if CT is his state of record but VA or another state becomes his PPA? (That's the least we can do for our military.) Thank you very much for sharing your time and knowledge during these last hectic weeks.

You will not have to consider the BAH and BAS (housing and food allowances) for active duty. Both are not taxable and are not reported on the W-2. as for state... once he is active duty, he will remain a resident of his state of record. So if he was a CT resident when he joined, he remains a CT resident unless he takes the steps to change it. When stationed in VA, his active duty pay is not taxed to VA. If he were to have a side-job, then that would be taxed to VA as a non-resident (form 763) . For 2021, he will be taxed on all of his income as a resident. For 2022, he may qualify to be considered a non-resident if he is not in CT 30 days and maintains a permanent place of abode in another state. see: https://portal.ct.gov/-/media/DRS/Publications/pubsip/2019/IP-2019(5).pdf

Oh! I know how that is: your eyes see it but by the time it gets to the brain.... it does not register. It is definitely difficult to keep straight what are eligible expenses for tax-free scholarship vs. AOC vs LLC vs 529 expenses. ...you said he is leaving for the Marines. Did he have ROTC or Veterans benefit scholarships? Make sure that none of the allowances for housing are included in the scholarship amount. BAH is paid separately and not included in income. If he had those, look at the Veterans Administration section of Pub 970 and/or go to: https://benefits.va.gov/gibill/. Probably you are looking at the 1098-T. BAH would/should never be a part of the box 5 scholarship figure. So you do not have to consider it.

First Gal ;).

A cousin who was a programmer for her career is now a volunteer at a cat shelter in retirement. Hubby who taught middle school music (including the performing choruses) for 37 years wanted to be a Trader Joe's cashier, because they always look like they're enjoying themselves. He continued as a part-time music director at our church (where we met) so didn't rush to Trader Joe's. After a few years away from middle school kids, a local music school asked him to teach piano. He teaches kids and adults, mostly FaceTime over the last two years, and enjoys his students who are taking lessons because they want to. I probably will prepare taxes until I cannot function in any other job!

As long as we're off topic anyway, I'm trying to post here. Replying to an existing post worked only sporadically for me yesterday.

Now here's a waiter (beg pardon, I mean bar-easta or however you say it) with direction and a goal (cain't say the same cause I'm still hackin' at various gigs 50 years later). Good information jsd, but '84 was my last time through Dodge so don't wait up. Can customers maybe express themselves with an excellent Slurpee? Coffee at a dollar was okay but $5 a cup seems a bit much. P. S. First guy I ever saw who's further off-topic than me.

Yep, 1098-T and the cover letter from Yale. It appears the scholarship is from Yale only. Neither he nor his mother said anything over the last four years about ROTC, so I was very surprised to find he's leaving for the Marines in a few days! She just mentioned something about OCS and Quantico, but I think that's starting in this October. He also had a W-2 from DFAS for a 2020 summer program. Box 1 was a little higher than 3 & 5, so maybe summer housing... 2021 will probably be where I have BAH and such paid for the fall after graduating from Yale this spring. I will save your link and Pub 970 in his electronic file for 2021. Thanks so much, Hahn. I'm definitely nearing burnout and need a few days this fall to play with grandchildren.

just received from a client IRS Form Letter 6470 that says he either had too much income or already received it. I'm thinking this is going to be a debit card one that the TP never realized was his stimulus and threw away. This has all turned into such a mess. In 5 years someone will have calculated the cost of this stimulus BS and it will well exceed the benefit. Kinda like Obamacare. Nonsense!

I vote for hide under our desks now.

Allocate the selling price and the expenses of sale to each type of property sold. You will have separate sale entries for the land, the building and its improvements, and any 1245 assets that were on the fixed asset schedule. If I have lots of improvements over years, or have lots of 1245 assets listed, once I have the SP and expense of sale allocation figures, then I do group/bulk sale for each of those types.

Note, @cbslee that you are talking about *state* licensing rather than federal. Also you are comparing apples to kumquats - the staffing level differences in OR and NV/Las Vegas is far more likely to be due to the clientele and types of transactions occurring in the gambling centers (that draw many thousands of national and even international visitors, daily) versus more-normal operations.

It'll go the way of the 1099-MISC to corporations; suspended from implementation because they won't have the computer processing power, or storage space, for all the data. Imagine it - a notice every time a small company pays its credit card bill, rent, buys a computer or desk, renews its insurance, etc etc - a notice is sent to the IRS. If we thought they were slow this season with all the hand-checking, they'd simply grind to a halt just about immediately.

That's great! The great-er news is that I sold my business and finally grew up to be an employee! So thankful to have the responsibility off my back, and excited to help the next one build her business. I'll work for a few more years, just because.

I have 3 notices this week -- all adjusting the stimulus I calculated downward. No fun.