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Showing content with the highest reputation on 12/30/2022 in all areas

  1. 65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022. 22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, consistent with the increased midyear rate set for the second half of 2022. 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2022. https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2023-business-use-increases-3-cents-per-mile
    3 points
  2. Years ago one of China's leaders stated that the US had gotten away from "making things" to pushing paper around. China's leadership, for all it flaws, is noted for its no-nonsense, see-things-as-they-are approach, so it made me think. So much wealth in this country is derived from stock options, swaps, derivatives, stock shorting, straddles, and now NFTs and cryptocurrency. How does any of that improve anyone's life, except for those on the winning end of those trades? Most of us have clients with brokerage statements that are dozens of pages of buys, sells, buys, sell, buy again, margins. All this paper amounts to nothing productive. Maybe China had a point. Note that the country has banned crypto.
    3 points
  3. :The IRS will begin accepting all business tax returns at 9 a.m. Eastern on January 12, 2023."
    1 point
  4. Still taxable. Papers means nothing... you must report your gains and pay taxes on them if any. Remember that I don't know where my bank has the database of my transactions by block chain is open to anyone who wants to see my transactions and any profits I made. So the fact that the IRS has said to the crypto exchanges that they don't have to report to the IRS, it doesn't mean that we don't have to report gains and it doesn't mean that the records are not available to everyone.
    1 point
  5. Of course currencies are useful - as a medium of exchange. The problem with cryptocurrencies is that they are being touted as an "investment". But as someone said, there's no there there. The only way to make a profit is on the greater fool theory. Too many people who can't afford to speculate are being lured into buying, and scams abound. And the IRS has delayed the implementation of the reporting requirement for cryptocurrency transactions: https://www.irs.gov/newsroom/treasury-irs-provide-transitional-guidance-for-broker-reporting-on-digital-assets
    1 point
  6. One blogger stated at some point that if you cannot stand in front of it and defend it, it's not real and/or not yours. She had (still has) a point.
    1 point
  7. I have been trying to login off and on for over a week. I enter my user name and password then I'm asked to request an authentication code be sent to my email which I do. The email doesn't arrive for 2-3 days and, of course, is invalid by the time I get it. I tried to call today but I was number 76 in the queue..........
    1 point
  8. Goes to show, it's not what you say, it's how you say it.
    1 point
  9. I don't see any difference between Crypto, Non Fungible Tokens, Stock Options or Derivatives., You can't see, smell, touch or hold them. They are all numbers in a computer somewhere
    1 point
  10. I encourage calls from clients. I want them to ask me questions and I know the questions that I want to ask them. To many of you, this may seem foolish and a waste of time; but to me nothing is worse than having to do an amendment because something was missed. I, personally, interview every client and give them as much time as they need. I don't prepare returns while they are sitting here. If it's going to be too much for me, I will refer them to a practitioner that I trust. They are paying for my time and service. I want to give them what they are paying for and I tell them that I am here all year if something comes up that they have a question about. I don't like surprises at tax time. My husband and I reflected on our 63 years together on Christmas Eve after all of the "kids" had gone. We have been so blessed. We started out with a lot of Nothing. Neither of us even had a job at the time. We have both worked hard both as employees and finally as self-employed. We reflected on what we had then and what we have now. We have been so blessed. I have spent a lot of time learning and I don't mind sharing some of that time with individuals who need help. When I go to bed at night, I sleep really well.
    1 point
  11. 13 composers fighting over the last slice of cake. Very well done. Seven minutes.
    1 point
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