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Max W

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About Max W

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    ATXaholics Anonymous

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  • Yahoo

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

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  1. Here is something to start with. https://www.cpec1031.com/blog/can-a-married-couplepurchase-their-replacement-property-with-a-family-member-as-tenants-in-common
  2. Max W

    Deducting sales tax on gifted vehicle

    There are no limitations on the sales tax deduction as to what can be done with the car, or vehicle. Presumably, the client has the sales receipt showing the sales tax paid.
  3. I have used eservices ever since it started and the password always had to be renewed every six months. However, if you didn't renew before the deadline, you had to recertify. Has this changed?
  4. Max W

    1040 PostCard

    Instead of complaining, whining, pizzing and moaning, DO something. Send a message to Washington - https://www.whitehouse.gov/contact/ - to your congress person, senator, house ways and means committee. If you belong to NAEA, AICPAA, NFTP, or any other professional group, contact them as well. Basically, my message was that the proposed 1040 is an exercise in bureaucratic, big gov't waste and inefficiency to create 8 pages out of two, something the President had promised to fix. If enough voices are heard, maybe someone will listen.
  5. Max W

    1040 PostCard

    Lynn, you only have to hold it for a week.
  6. Max W

    It's time for a new printer

    Whatever happened to the Paperless office we were all promised back in the late 70's and 80's when PC's were coming in to use. I had a retail business at that time with over 15,000 SKU's. The computer really helped with inventory control, but to get reports a printer was essential. It was one of those 128 column IBM jobs and it put out reams and reams of paper. Instead of less paper there was more than before. The large reports on that wide, accordion folded paper were awkward to handle and stacks just piled up in the office. Since it wasn't suitable for printing sales receipts, a small, second printer was put to work. I went through several Canon's and Epson's as they were all prone to breakdown, even with proper maintenance, so I had a second ready to go, in case the one in use brokedown.
  7. Max W

    Draft W4 for 2019

    It looks like an improvement, but the on-line calculator isn't working. It keep asking for a salary and three were tried together. It looks like it may do a good job of determining withholding for people with multiple jobs.
  8. Max W

    2018 tax tables

    Abby, those are the IRS tables that Taxbook copied. It is not the Taxbook tables. I don't know if this link will work, because TheTaxBook requires a password, but here goes. https://thetaxbook.net/files/ttbf/2017/pages/1040_fc.pdf
  9. Max W

    Form 966

    You just hedged your bet with the last sentence.
  10. Max W

    Form 966

    Really! New York requires Articles of Dissolution; CA requires a Statement of Dissolution; TX a certificate of termination; FL the same as NY; IL same
  11. Max W

    Form 966

    The only problem with that is all states require corporations to file some type of form indicating that the corporation has elected to dissolve and/or has been dissolved. Some also require a plan of dissolution. https://eminutes.com/corporate-dissolution-and-irs-form-966-how-to-satisfy-the-plan-requirement#_ftn7 After searching various sites and reading attorneys opinions, the consensus is there is no consensus. Each has their own idea re LLC's. I fact, Legal Zoom says LLC's have to file 966 without any mention of having filed as a corp. Did they leave something out? https://info.legalzoom.com/papers-file-irs-close-business-llc-4316.html
  12. Max W

    Form 966

    Nowhere in the instructions, the for, or tax code 6043.1 is there any mention of an LLC, so the answer to your question I would say is definitely No. It seems that the form is designed for to flesh out srock transfers and even though filing 966 is required, there is no penalty for failure to do so. I can't say how many times I've checked "Final Return" for a corp, but have yet to receive a notice from the IRS re 966. Interestingly, 6043.1 says that "...the return shall be filed with the district director for the district in which the income tax return of the corporation is filed." What this tells me is that the form is used to determine if an audit is appropriate.
  13. Max W

    The List......

    Betcha' y'al think that Donut Day was something dreamt up by Krispy Kreme or some other donut company. In fact is wan't any food company, or any other business. It was the Salvation Army who 80 years ago initiated Donut Day in honor of the Doughnut Girls who served treats to our soldiers during WW1. In case anyone doesn't get the connection, the soldiers of WW1 were called Doughboys, a term that originated during then Mexican-American War of 1846. But that;s not all. There are tax implications as well as some additions to the list. To find out more, here is the article from Forbes, https://www.forbes.com/sites/kellyphillipserb/2018/06/01/free-doughnuts-and-a-side-of-sales-tax-trivia-on-national-doughnut-day/#68d8172f65c7
  14. Max W

    2018 tax tables

    The Tax Book Tables are easier to use as they eliminate a step.
  15. Max W

    Gift Tax - Crypto Assets

    Why couldn't he report income on Sched D and issue nominee 1099B's to the other participants, offsetting that part on Sch D? https://www.kerezmancpa.com/2014/01/file-nominee-1099s/