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You know I re-wrote that post three times to get it to "Judy Acceptable" standards. Tom Longview, TX

The topic heading did say "divorce"

They can allocate it using any percentages they want as long as they are in agreement. They must use the same percentages for all of the months. Yes, you could give 100% to him and 0% to her. If they can't agree, then it is split 50-50 to each. The following is from the 8962 instructions.

We named our dog SALY. Everyone thinks we mis-spell her name. My son, who was with us when we got Saly, actually named her. I was thinking .... Debit...Credit....Deduction....1040....Dependent My son blurts out "You should name her SALY". Kid listens very well to his parents. Tom Longview, TX

R&D falls under the criteria of section 174. I doubt that your clients efforts for a credit would meet all 4 standards. If it is taken as an R&D expense it is amortized over 5 years. It could be a better choice to patent his modifications.

SALY is the best!

Thank you!! Silly me - look in the instructions? No.......

Ooops!

As long as the terms of the scholarship allow it to be spent on non-qualified expenses (such as room and board), and such expenses were paid during the year, you can allocate the scholarship between tuition and the other expenses any way you want, regardless of how the scholarship money was actually used. Any amount you allocate to non-qualified expense is taxable. If the scholarship was restricted to tuition only, you cannot make it taxable by using it for other expenses.

This is extremely helpful information. Thanks Judy.

"WASHINGTON––Today, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed." Well, that makes the March 21st deadline meaningless!

Same as last year. Efile Rejects Tom Longview, TX

In the late 60's or early 70's there was a song called DOA by a band called BloodRock. Creepy song about a plane crash. Anyway how about "The Pencil Pushers" Not strictly Tax related but works.

De Minimis (Imagine announcing at the beginning or end of a gig "We are De Minimus!")

As long as they will all play in the Audit-torium!