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I often forget to look at anything but General Chat. Today I looked at all the others and learned new things. Perhaps I'm the only one that doesn't check them all but wanted to remind others to do so. They are all great. I will be checking more often, my resolution for 2017!

I would take his actual expenses (gas, depreciatoin, repairs, insurance, licenses, stickers, washes, etc.) multiplied by his business use of the vehicle (not counting commuting and any other personal use) and then subtract the reimbursement he receives from this total. Both the expenses and reimbursement would be shown on a 2106 as long as he is a W-2 employee, Schedule C if 1099 subcontractor. This is what I have always done in the past when I encountered similar situations.

Exactly. On the one hand they claim they want us to save for our own retirement. On the other, they make the rules ever-changing and harder to follow. This would be a case of "poop or get off the pot" except they cannot decide which social end they really want to achieve - more taxation NOW or more taxation later; more retirement savings to lighten the socsec burden or less retirement savings that push more government control. And I will stop right there, lest I cross the line into "political" posting. No, I will say one more thing: all the legis-vermin in DC (and most of those in the state houses, as well) need a good spanking (except for those who would like it; they don't get spanked) and some hard lessons in economics. *And* get locked into a room with no calculator, lots of dull pencils, insufficient erasers, and NOT let out until they do their own taxes correctly. Mwa-hah-hah!

I feel like almost every year, something I've wanted has been implemented. I'm quite pleased that ATX listens to us users. I keep a text file that I jot down ideas in during tax season so I don't forget to make suggestions later.

Thanks, Abby. My home page is Chat. Think I will change it now. I don't want to miss anything!

Yes. Create a template return that has all the forms you want. Then just copy that to create a new client.

Actually: The intent is to eventually tax the amounts in the IRA's at some point, From the IRS's POV, the sooner the better. Therefore, you have the RMD Rules. I like the stretch IRA rules. I think they are a good rule. The Money stays invested, but the feds start to get some money from the funds. Abolishing the stretch rules, which have only existed for 15-18 years, would be a real bad idea. If you get $500k from a parent who dies, your effective tax rate on that, right now, excluding state tax, could be 44%. That is HUGE money grab by the government. The whole ROTH Rules are being driven by investment lobby. The money is invested, but it is taxed up front, The government likes that. IF they restrict ROTH, which I expect them to do anyway, and they also blow up the "stretch" rule's, the government is in for a bonanza. There is supposed to be 10 trillion or so in assets moving from the baby-boomers to the next generation. A big chunk is in pension funds, IRA's and 401(k)'s Rich

I saw an article about this a few days back. It was written by a financial advisor, but he's one of those rare exceptions - a F/A I actually respect. I'm pretty sure he said the effective date is expected to be when the legislation passes, thus effectively grandfathering existing stretch IRA's.

ADP battery backups have worked well for me but replacing the battery is quite expensive. I too have a generator to plug in but as Medlin said it is important to swap between appliances and electronic items. A gasoline generator cannot hold a steady rpm and therefore produces a ragged AC sine wave which electronic devices do not like. So, if I am running the office, nothing else is running that would cause the speed on the generator to vary.

I like the meme except he has a paddle. Most of the time I don't feel like I do.

I just want to thank everyone who contributed to this "OH SHIT" thread. Helped me a lot yesterday.