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Pacun

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Everything posted by Pacun

  1. Test this. Make your default printer a PDF printer, then make your default printer another physical printer in your office. Then make your current printer your default printer. If you only have issues with your current printer (out of 4, since no printer gives no error), then the issue is not ATX but your printer driver or your printer device limitation.
  2. Pacun

    Household Income

    I had a person in the same situation. He is 22 and he doesn't need to go to the doctor so no having health insurance makes sense. I don't have pedestrian insurance and I believe the chance of me needing pedestrian insurance is higher than this person using his health insurance. So, from an economic point of view, it makes sense for some young people to pay the penalty this year and the next.
  3. NO donation involved for the worker. The person or entity receiving the free advice should report the FMV of that service as income. Technically that letter that he received, it is salary to the worker. He is getting a benefit when he shows that letter to you or to his friends, so he should pay taxes on that amount. What benefit he gets? He gets the benefit that he is a good guy because he donated time and he also gets the benefit that you know he can make beer, that he is a beer expert, and you might want to be his friend because he will make beer and you will get it for free. This is a barter transaction and trust me, people claim they don't get a benefit but they do. A few years down the road the "employer" will take the "worker" to lunch or more. No free lunch.
  4. Start the print spooler service after you start ATX and call tech support
  5. Pacun

    Household Income

    Yes, it is hard on people. BELIEVE me, most of my clients are under 50K, so I thought that $95 per head was not bad until I make the calculations. I thought $95 was the maximum someone was going to pay but it is the minimum. So if you client made 21K, they have to pay $95 but if they pass 30K, everything starts to stink.
  6. Pacun

    Household Income

    ILLMAS If none of the dependents are filing a return, no self employed or Social security, just enter line 39 from 1040 to calculate. Technically the penalty is 1% above 20K (roughly).
  7. I found myself but 5 miles in the center of Washignton, DC is a LONG distance. So, I searched my zip code limited to 5 miles and I got thounsands of hits, so I have either enter my last name or check only EAs to have a small list.
  8. I have heard that properties need to be under the LLC name but I never knew why. When you form a partnership, a partner can bring a tractor and his basis on the partnership is the FMV of the tractor or the cost, whichever is less. Why not real estate? So if money making items are all considered the same, you don't need to transfer the title of the Real Estate Properties to the LLC and you can depreciate them. I think the issue is that losses are not allowed even if the partners run the rental business and make breakfast to the tenants (material participation).
  9. I issues here but my computer is not running that many programs or malware.
  10. Unearned income has a lower filing requirement
  11. Yes, if unearned.
  12. In the past I said that the program was going to be fixed in 2012 and that future releases were gong to be robust.
  13. IRS main concern is that you pay SS taxes. So, I don't see a main issue if you use line 21. Line 21 will not qualify you for EIC credit and IRA contributions so, I don't think the IRS will have a big issue with that as long as you pay SE taxes. If this is not the time you use line 21 with SE, when will you use it? Why did the IRS approve ATX if that was a mistake?
  14. To answer your original question, you have to open 1099misc, then on line 7 enter the amount your client got paid and then you have 3 choices from the pull down menu: 1.- Sch C 2.- Line 21 with SE 3.- Line 21 without SE.
  15. That form is used when you have two owners and the 1098 is under the person that doesn't pay anything. So owner 1 transfers the mortgage paid to the second owner who pays the mortgage
  16. I agree. lol.
  17. I want to add something: Why not many people participated on my sample? This is exactly the issue I addressed and I added 5 more siblings to the puzzle. When earned income is involved, I put the whole family together in my office and I tell them.... if this person claims the child, you will loose the battle, now if these other people claim the child, you will win.
  18. Why did you stop pasting? I am pasting the next paragraph.., "If another person uses your qualifying child to claim EITC using the tie breaker rule, you can claim EITC only if you have another qualifying child. You cannot take the credit using the rules for those with no qualifying child." IF IF IF IF is a big word. IN ANY EVENT, you cannot say that the father is the one with the information provided.
  19. I didn't read the whole case, but I was under the impression that the owner of the house didn't live in the house and that will make the case that the house was "own" indirectly by the occupants. Again, I didn't read the whole case.
  20. There is a difference when the owner and the other person lives in the same house. In my case, that court decision doesn't apply.
  21. Judy gave you the correct answer. I had the same situation and for about 3 years no one benefited. The father never wanted to "sell" the house to the son but when he retired, the son convinced the father to "sell" the house and now son is the owner and is able to deduct interest.
  22. It makes sense to hire a force that was already trained.
  23. File both single and give the child and all the goodies to the mother.
  24. I normally add the cost of the land to the cost of the house. So if the house cost $100K and when you are ready to depreciate you notice that the cost of the land is $70, then you depreciate only $30. At the time of selling, then you add the $70 to the basis and you should be OK. Find out if they qualify for exclusion based on the time they lived in the house when it was sold.
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