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Max W

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About Max W

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    ATXaholics Anonymous

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    Boston Red Sox, Spanish Civil War History. Flamenco Music & Guitar

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  1. Max W

    I have a NYC ? on sale of real property

    The NYC taxes are reported on page 3 of the IT-201. https://www.tax.ny.gov/pdf/2014/inc/it201_2014_fill_in.pdf
  2. Max W

    Client needs someone experienced in Canada

    There are a number of cross-border tax preparers. Here are two of them with offices in the US and Canada. Buffalo Cross Border Tax Preparation & Accounting | Marlies Y ... https://www.hendricksusa.com/cross-border-tax-preparation-accounting Cross Border Tax Preparation & Accounting With Marlies Y. Hendricks: Who Files U.S. 1040 TaxReturns? ... USA (NY):, (716) 694-3500 ... 65); married filing separately $4,050 (any age); single dependents if dependent's unearned ... While they are also subject to Canadian taxes on the same income, the foreign tax credits ... US Tax Services www.ustaxservices.ca/ US TAX SERVICES: A Toronto-based company that successfully helps ... priced below competitive market rates for expert work and in Canadian dollars. We also ... Cross-border tax analysis and planning ... Toronto's "local" Social Security office Niagara Falls, NY & ONLY the SSA record name/TIN must be on a tax
  3. Max W

    How to find a qualified intermediary?

    https://www.1031.org/FEA/Membership/Directory/FEA/FEA Directory.aspx?hkey=0fd4beb3-5dd0-48ba-b5fe-861ccb5b5b24 Enter the state and click
  4. Max W

    help for California S-Corp return needed

    FTB S-corp allows 10% of income to be taken as a charitable deduction on Line 11. Run your diagnostics and see if there as an error message. Otherwise, call customer service. They will help you right away. CA does not conform with the IRS in many aspect, so be aware of this.
  5. Max W

    savings bonds

    There was a discussion about this 2 months ago. Click the heading EE Savings Bonds, to read the whole discussion.
  6. If you want to get cash for them, you can place them with a consignment shop. Selling them on'line has a couple of downsides. Either you have to pack them up and ship them, or have to have some stranger come to your door to pick them up.
  7. Max W

    Depreciation on leasehold improvements 2018

    Yes, it qualifies with the exceptions that are outlined - the enlargement of the building, any elevator or escalator or the internal structural framework of the building. Roofs, HVAC, fire protection systems, alarm systems and security systems
  8. Max W


    The glitches won't affect most 1040's and those that might be affected would be a small number of Sch C filers , who are not usually early filers. https://taxfoundation.org/technical-corrections-tax-law-lame-duck-session/
  9. Max W


    My guess is that we will have efiling earlier in Jan than last year and some other years where there were last minute changes to the tax code. For TCJA they have had plenty of time to make and test the necessary software changes, at least for the 1040.
  10. Max W

    Qualified Business Income Deduction

    I would double check this one a few ties by another means before relying on it. UI Taxschool put out an Offerin Compromise booklet a few years ago and it was riddled with errors. The most egregious was the calculations for one of the 22 types of OIC payment plans.
  11. Max W

    Conversion Problem with Depreciation

    If you click on form 4562, you will get a grid pop-up. The first column should show "E" in the form column, which is the 1st column. Then in the next column 'MFC" put in the number of each property. All the assets of a particular property should have that number. Property 1, prop 2, etc. This is similar to what Judy suggests, but faster, as all assets will be on the pop-up rather than having to go to each asset page. If that doesn't work, call customer service and they will have it solved in minutes.
  12. Max W

    any fast way to get a POA to process?

    I don't think the IRS uses paper for most faxes anymore. They use Efax and that goes right into a computer as an email. When I'm talking to PPL , they sometimes ask me what my area code is, because that is what you see when a transmission has arrived. There are times when a fax doesn't go through. When this happens, they can provide an alternate number. That one is probably a paper machine they keep for a backup. I always ask to have the 2848 forwarded to the CAF unit and they only have to press a button to do that. Most of the time they do it without asking, but I just want to make sure. I suspect that the delays in posting is a shortage of manpower. There are times the POA gets posted in 5 days and other time 2 weeks.
  13. Max W

    Qualified Business Income Deduction

    Here is a simplified set of charts broken down by categories that provides before and after thumbnail sketches for each provision. Details are given in the foot notes. The charts can be printed out. https://www.bkd.com/services/tax/tax-reform-resource-center/tcja-tax-charts
  14. Max W

    Qualified Business Income Deduction

    The Bradford letter has a QBI calculator. You have to subscribe to the letter, but there is a 7 day trial period in which you can try it out. https://bradfordtaxinstitute.com/info/TRL_Home_Page.aspx
  15. Max W

    OIC when on an installment agreement

    The IRS OIC office will send out an acknowledgement of receipt. That is when collection activity stops and starts extending the SOL (CSED). It usually takes about two weeks after the offer is mailed before the letter arrives.