Lee B

What about the risk of claiming a dependent for a year that is not legally yours ?

In my opinion, these were legally contingent expenses at the time of closing , however the $ amount was unknown. In accrual accounting these expenses are estimated , for example, warranty expenses. In this case, if the installment sale is still on going, it would be an adjustment to the gross profit calculation. If the installment sale has been completed then the final year of the installment sale should be amended.

In my 26 years of preparing tax returns, I have only had this scenario once. These rules are unique enough that I have decided to refer any potential clients with this particular situation to another preparer.

The Box 14 codes for the Oregon Statewide Transit Tax are "STTW" for Statewide Transit Tax Wages and "STTT" for Statewide Transit Tax Tax . I have seen a number of smaller businesses' W - 2's which show nothing in Box 14.

I have been an accountant in Oregon since 1976 and I have never seen it before. It might be related to a specific benefit for a civilian Federal Employee. The codes for Box 14 are not standardized, you will probably have to ask your client to go back to their employer for an explanation.

I am confused, I thought we were talking about a 2 partner 1065 ?

Copied from the BNA Blog: Kentucky’s conformity date was moved to Dec. 31, 2018, from Dec. 31, 2017, under an omnibus tax-change bill (H.B. 354) signed March 26 by Gov. Matt Bevin (R). The state already conformed to the provisions of the federal tax code overhaul (Pub. L. 115-97). Maryland’s hourly minimum wage is to rise to $15 by 2025 for large employers and by 2026 for small employers from $10.10 after the legislature voted March 28 to override Gov. Larry Hogan’s (R) veto. The first hourly minimum wage increase is to occur Jan. 1, 2020, when the hourly minimum wage is to rise to $11 for all employers. New York’s electronic wage-reporting specifications were updated to reflect new requirements for 2019. Michigan’s hourly minimum wage rose to $9.45 and state paid medical leave requirements took effect March 29. All Puerto Rico employers are to electronically file unemployment tax and wage reports starting April 1, 2019. The requirement is to apply starting with tax and wage reports filed for the first quarter of 2019, due April 3

Schedule C ??????

Any tax extenders bill would have to originate in the House, where is there is no apparent sign of movement. At this point, I hope all of the extenders vanish, never to be seen again.

Aw shucks, you have taken all the fun out of this discussion.

That's too introspectve for me. On to the next client !

Just one thing, I believe since the vehicle wasn't in service at the end of the year, there would not be a deduction for 2018 depreciation. Then you would probably have a loss in 2019 assuming the insurance check was less than the original purchase price.

A bipartisan group of House members has introduced a bill called "Restoring Investment in Improvements Act". They cherry picked one issue out of the various proposed TCJA Corrections problems. This bill is a one issue bill which would retroactively correct the "Qualified Improvement Property" glitch in the original TCJA bill from 39 years to 15 years qualifying the property for immediate expensing. There has been no apparent movement in the House on any of the Tax Extenders or other TCJA Correction issues

I am not sure what you do if they haven't kept copies of this stuff. At this stage of my career, I would walk away even if they were willing to pay me an extra 1 K.

The client has the responsibility for keeping copies of the original purchase documents. Did this client keep those documents? Even if they didn't, the information should be available from the escrow agency and or the county assessor's office.

What works with one financial institution may not work with another because they each have their own rules.

Yes, it is well worth the donation that I make every year in December ! Even when it's not a topic that I am currently dealing with, the questions and varied points of view wake me up and give me a kick in the pants !

Since 2013, ATX has tended to gradually fill up your print cache will misc garbage, until the program crashes. For most part you can avoid this by keeping your print cache cleared.

Several years ago I had a client receive a grant from the state of Oregon to partially offset the cost of noxious weed control. My client's expenses exceeded the grant. I reported the grant amount on 1099 G on Line 21. Since my client was not a farmer and the acreage involved was attached to their residence, the expense was personal.

Wouldn't this payment be a shareholder distribution ?

I would paper file this return with a signed attached statement requesting that the refund be applied to the Trust Fund Taxes. It might work, you have nothing to lose.

Didn't look this up, but my gut instinct says that you may have file MFS.

I have a very reliable Ativa 1850 which does the confetti cut, for which I paid about $ 400.

I am looking forward to seeing what the answer is, since I don't know either ?

If you are efiling an Oregon 20 S, you have to attach a pdf of the 7004 to the Oregon return, since it's after March 15th unless of course no extension was filed ?