Jack from Ohio

The forgiveness of the debt will probably cause him a large capital gain. This has nothing to do with the 1099C. You need to sharpen up on the differences. The debt forgiveness is treated a sale for the amount of the forgiven debt. Depreciation recapture must also be calculated. This amount is NOT reduced. If he receives a 1099C, there are exclusion rules for the amount of debt not being taxed as income. This is a totally separate calculation and does not reduce the amount of gain on the sale.

At the firm, we have Brother HL-5370DW. Three of them three years old. Total page count between the three 300,000+. By doing our on refilling, we have average cost per page at $.003. This includes replacing all the drums at least once. At my home business, I use Brother MFC-8680DN all in one copy, print, fax and scan. Uses the same toner cart as the 5370DW so my toner expense is almost non-existent. I have use the 8680DN for 3 seasons now. Page count over 50,000 and it still works flawlessly. It will scan pages at about 12 ppm directly to my PC so document archiving is very easy. The newest version of this machine MFC-7460DN is available at Staples for $249.00. The carts are easily refilled as well. http://www.staples.com/Brother-MFC-7460DN-Laser-Multi-Function-Printer/product_918016 Have had no issues with reliability of these machines. The only problem we have is after printing about 5,500 pages, the toner cartridge runs out of toner and needs refilled or replaced.

Buy Brother. Simple answer.

Congress will NEVER relinquish the power to tax. It will NOT happen in the next 40 years. The American voters will send 90% back to Washington in 2014, and the cycle continues.

Catherine, your inner Geek is showing!!

Ohio has had a budget surplus for the last two years. In fact, 2012 taxpayers here were given a .25% reduction in the state income tax compared to 2011. I am definitely on an anti-incumbent roll for the upcoming elections.

State of Ohio ends property tax rollback. As part of the Ohio budget bill signed June 30 by Gov. John Kasich, local residents may see a rise in property taxes next year. The budget bill removes a “rollback” created in 1971 as a deal with taxpayers where the state income tax was established in exchange for the state agreeing to pay a portion of property tax bills. As per the agreement, the state paid 12.5 percent of local property tax bills, while the public paid the remaining 87.5 percent.: ... However, the rollback was eliminated in the new budget bill, which as many worried about its implications. Note: It is my personal opinion that all Ohio property taxes will go up as a result of eliminating the rollback. Our elected legislature at work!!

Check your messages Gail. I may have a solution for you.

Newest joke of the day.... SCL has a sense of humor!!!

Crow Mystery Solved. Researchers for the Massachusetts Turnpike Authority found over 200 dead crows near greater Boston recently, and there was concern that they may have died from Avian Flu. A Bird Pathologist acquired a US Federal Grant and examined the remains of all the crows, and, to everyone's relief, confirmed the problem was definitely NOT Avian Flu. The cause of death appeared to be vehicular impacts. However, during the detailed analysis it was noted that varying colors of paints appeared on the bird's beaks and claws. By analyzing these paint residues it was determined that 98% of the crows had been killed by impact with trucks, while only 2% were killed by an impact with a car. Thanks to the Grant the MTA then hired an Ornithological Behaviorist to determine if there was a cause for the disproportionate percentages of truck kills versus car kills. The Ornithological Behaviorist very quickly concluded the cause: when crows eat road kill, they always have a look-out crow in a nearby tree to warn of impending danger. The conclusion was that while all the lookout crows could say "Cah, Cah," none could say "Truck."

A man walked out to the street and caught a taxi just going by. He Got into the taxi, and said, "Perfect timing. You're just Like Andrew" Cabbie: "Who?" Passenger: "Andrew Sullivan. He's a guy who did everything right all the time. Like your coming along when I needed a cab, things happen like that to Andrew Sullivan, every single time." Cabbie: "There are always a few clouds over everybody." Passenger: "Not Andrew Sullivan. He was a terrific athlete. He could have won the Grand Slam at tennis. He could golf with the pros. He sang like an opera baritone and danced like a Broadway star and you should have heard him play the piano. He was an amazing guy." Cabbie: "Sounds like he was something really special." Passenger: "There's more. He had a memory like a computer. He remembered everybody's birthday. He knew all about wine, which foods to order and which fork to eat them with. He could fix anything. Not like me. I change a fuse, and the whole street blacks out. But Andrew Sullivan, he could do everything right." Cabbie: "Wow. Some guy then." Passenger: "Yep, and he really knew how to treat a woman. He would never answer her back even if she was in the wrong; and his clothing was always immaculate, shoes highly polished too. He was the perfect man! He never made a mistake. No one could ever measure up to Andrew Sullivan." Cabbie: "An amazing fellow. How did you meet him?" Passenger: "Well, I never actually met Andrew. He died. I'm married to his damned widow."

A young man with his pants hanging half off his a_ _, two gold front teeth, and a half inch thick gold chain around his neck; walked into the local welfare office to pick up his check. He marched up to the counter and said, "Hi. You know, I just H A T E drawing welfare. I'd really rather have a job.. I don't like taking advantage of the system, getting something for nothing." The social worker behind the counter said "Your timing is excellent. We Just got a job opening from a very wealthy old man who wants a chauffeur and bodyguard for his beautiful daughter. You'll have to drive around in his 2012 Mercedes-Benz CL, and he will supply all of your clothes." "Because of The long hours, meals will be provided. You'll also be expected to escort the daughter on her overseas holiday trips. This is rather awkward to say But you will also have, as part of your job, the assignment to satisfy her sexual urges as the daughter is in her mid-20's and has a rather strong sex drive." The guy, just plain wide-eyed, said, "You're bulls_ _tin' me!" The social worker said, "Yeah, well... You started it." .....

OIH expenses are not deductible for a partner in an S-Corp.

Unfortunately, any electronic devices lose 50% of their value in 6 months after purchase. Your expectation of price is not realistic.

The only vote that has any real weight is an informed vote. Ask a number of people: "Why did you vote the way you did?" The overwhelming majority had no solid factual answer. The bigger problem is low information voters. If the number of voters that are "engaged" by knowing why they vote the way they vote, the flavor of our Congress and Senate would change drastically. The disease of apathetic ignorance is killing our country and electing the conductor of the runaway train. Yes, it is my opinion. You will be hard pressed to show me any factual evidence to the contrary.

Interesting information in the link you posted. It speaks for itself. It is also incomplete since the last entry is for 2011. Your response to me makes my point about the problem our country is facing. I do not have a "side." My ability to observe, be informed, make my decisions and express my opinions do NOT depend on whatever "side" you may think I am on. The United States is on the track of a downhill train wreck and majority of Americans do not want to see, hear or even talk about it. If there is a "side" I am on, it is the side of the people of the United States and restoring the greatness and direction that made our country the greatest place in the world to live. (At least for now) My position stands. If I have infringed and get just one person to start looking, investigating, leaning or CARING, I will listen to you rant.

I am sorry if my posts are "upsetting" you. I refuse to be apathetic about what is happening with the administration in D.C. To celebrate the most important day in our Country's history and ignore what is happening to it is exactly the mindset that will, if allowed to continue unchecked, destroy the rest of the United States I grew up in and have grown to love. So, if "Here comes Honey Boo Boo" is more important than the future of our nation, continue to ask me to be silent. If the mods think I am out of line, they can ban me. God Bless America and The United States of America.

No public schedule July 3, 2013 http://www.whitehouse.gov/schedule/complete/2013-07-03 No public schedule July 4, 2013 http://www.whitehouse.gov/schedule/complete/2013-07-04 You decide. If he is not seen, is he really in the country?? Why would the President of the United States of America have no public events on July 3 & 4? With all the deceit we have seen from Washington D.C. tell me why I should not be skeptical?

(Removed due to the angst caused by my original post.)

I saw this question posted by a friend... "Has any American President ever been out of the country on Independence Day? But then BHO isn't a true American... at least not in his heart. Maybe this should be in the laugh of the day thread...

I have tomatoes, green beans, summer squash & giant sunflowers. If I sell a basket of tomatoes, a peck of green beans and a bag of sunflower seeds then I have a farm? BTW, I live inside a city and the garden is only 14X14.

Joke of the day: An old man walking to his mailbox on his 90th birthday turns back towards the house and finds a lovely young thing in his path. He asks her what she wants and she says that she is there to give him "super" sex for his birthday. He smiles and says, " I guess I'll have the soup". LOL

Conservative is an adjective. It defines a set of beliefs and life choices. it describes me. Political party names become labels. There was a time when Conservative and Republican were very much the same. Not for the past 20+ years.

For the record. I am a Conservative. I am NOT a Republican. There is a difference.

Neither do the banks. Dual blame on this one...