Lee B

If you are saying that he is an officer of a C corp and he is reporting tips that he received due to being an employee of the C Corp, then he is correct.

I have never read anything suggesting these expenses are deductible pre rental. Take a step back and look at the bigger picture. Until this property is ready and available to be rented, it is not rental property, it is investment property. Once you consider your questions in those terms, it should then be fairly easy to answer these questions.

For tax purposes, the donor should have sold the land, harvested the capital loss even if it ends up being a carry forward, then given them the cash .

No cites, but to best of my knowledge: 1. Unused Investment Interest continues to carry forward. 2. When FMV at the the time of gifting is less than donor's basis, then the FMV is the donee's basis for the purpose of calculating a loss. 3 When calculating a gain, then the the donor's basis is used. 4. If the donee sells the land for less than the donor's basis but more than the FMV, then there is no gain or loss.

Are you saying that you didn't even get an acknowledgement of the transmission to the EFC ?

I did write up work for a small U S Subsidiary of a Swedish Corporation for 4 or 5 years. The Swedish employees had 36 paid holidays every year. Just let me say they were a well run very profitable company. It really doesn't matter how many or how few holidays the employees have. What matters is how productive the work force is !

Clarification: The changes in the original draft of the 2019 W -4, while delayed by one year, will be implemented in the 2020 W -4.

For 2018 Oregon created a supplemental worksheet, OR-WW, to help employees determine whether their state withholding is correct. For 2019 Oregon will be releasing an Oregon only W - 4.

Apparently a bit of common sense actually prevailed, "Following feedback from the payroll and tax communities, the Treasury Department and the IRS will incorporate important changes into a new version of the Form W-4, Employee’s Withholding Allowance Certificate, for 2020. The 2019 version of the Form W-4 will be similar to the current 2018 version. A new draft version of the W-4 for 2019 will be available in the coming week."

The days of faxing in a POA while on the phone with an IRS representative may be coming to an end. "The Internal Revenue Service has not implemented sufficient processes to authenticate the validity of Forms 2848, Power of Attorney and Declaration of Representative, and Forms 8821, Taxpayer Information Authorization, the Treasury Inspector General for Tax Administration said in a report released Aug. 30. The forms are used to designate powers of attorney or representatives on behalf of taxpayers, TIGTA said. “Tax examiner reviews of these forms do not include steps to verify that the legitimate taxpayer submitted or signed the form to authorize access to his or her tax information,” the report said. TIGTA, which provides independent oversight of IRS activities, made seven recommendations, including that the IRS develop a confirmation letter program to ensure that taxpayers authorized third-party access. The IRS agreed with six recommendations and partially agreed with a recommendation to correspond with representatives and designees assigned multiple centralized authorization file number."

You didn't say whether this happened in 2017 or 2018? It matters because of the TCJA.

Get a grip, this is way overblown ! Microsoft is providing free extended support until January 15th, 2020 , when all support was scheduled to end, which was announced years ago. Apparently they intend to offer paid extended support for 3 extra years, which is exactly what they are still doing with XP on a contractual basis for the IRS and other large institutions. Obviously they see a chance to make some extra profit due to the large number of Win 7 systems still up and running. Captured aliens are being kept in Area 31

The problem with buying systems at Costco or Sams Club is that the internal components may be of lower quality to achieve a desirable price point. I have purchased Dell systems thru Dell online for over 20 years without any problems, except that my current Win 7 Pro 64 bit system will have graphics driver problems several times a month.

One could argue that you have received a benefit by structuring the transaction this way so that there is no additional deduction to be claimed.

I sure hope they can come up with something better than the first draft, which was way worse than the 2018 W -4 ! "The planned final release of a revamped 2019 Form W-4, Employee’s Withholding Allowance Certificate, could be delayed a year, a source familiar with the revision process the Treasury Department is applying told Bloomberg Tax on Sept. 6. Members of the payroll and service-provider communities said in comments to the Treasury Department that failing to finalize the 2019 draft by midyear would severely hamper the ability of many employers to effectively adopt the changes of the new form in time for 2019. A draft 2019 Form W-4 was released in June and a second draft was planned to be released in August, but there is no date for when a second draft would be available, Scott Mezistrano, IRS representative for industry stakeholder engagement and outreach, said Sept. 6 in a monthly payroll industry teleconference. A release of the W-4 with its significant changes at this time of year likely means constrained time frames for design, programming, analysis, and the significant testing needed to ensure proper implementation, said Pete Isberg, president of the National Payroll Reporting Consortium."

Medicare announced today, "To provide additional flexibility for those in need of a hardship exemption for 2018, CMS is announcing that consumers can claim hardship exemptions either by obtaining an ECN through the FFE using the existing application process, or on a federal income tax return without presenting the documentary evidence or written explanation generally required for hardship exemptions."

Bicycle Commuting Reimbursements No Longer Excluded from Employees’ Income but Still Deductible by Employers Under the new tax law, employers can deduct qualified bicycle commuting reimbursements as a business expense for 2018 through 2025. The new tax law suspends the exclusion of qualified bicycle commuting reimbursements from an employee’s income for 2018 through 2025. Employers must now include these reimbursements in the employee’s wages. Qualified Moving Expenses Reimbursements No Longer Excluded from Employees’ Income Except for Certain Members of the Armed Forces For 2018 through 2025, employers must include moving expense reimbursements in employees’ wages. The new tax law suspends the exclusion for qualified moving expense reimbursements. One exception: Members of the U.S. Armed Forces can still exclude qualified moving expense reimbursements from their income if: They are on active duty They move pursuant to a military order and incident to a permanent change of station The move expenses would qualify as a deduction if the employee didn’t get a reimbursement Employee Achievement Award — Tangible Personal Property Defined Special rules allow an employee to exclude certain achievement awards from their wages if the awards are tangible personal property. An employer also may deduct awards that are tangible personal property, subject to certain deduction limits. The new law clarifies that tangible personal property doesn’t include cash, cash equivalents, gift cards, gift coupons, certain gift certificates, tickets to theater or sporting events, vacations, meals, lodging, stocks, bonds, securities, and other similar items

The question is can a son with his parents POA give himself a nontaxable gift ?

According to this news article, one year later, no sanctions or enforcements of any kind have been taken against Equifax. Business as usual - more sheep to be fleeced ! https://apnews.com/3e135a3f5b1941a48a9cb9692950d11e/A-year-after-Equifax-breach,-no-enforcement-actions

IR-2018-178, Sept. 5, 2018 WASHINGTON — Business taxpayers who make business-related payments to charities or government entities for which the taxpayers receive state or local tax credits can generally deduct the payments as business expenses, the Internal Revenue Service said today. Responding to taxpayer inquiries, the IRS clarified that this general deductibility rule is unaffected by the recent notice of proposed rulemaking concerning the availability of a charitable contribution deduction for contributions pursuant to such programs. The business expense deduction is available to any business taxpayer, regardless of whether it is doing business as a sole proprietor, partnership or corporation, as long as the payment qualifies as an ordinary and necessary business expense. Therefore, businesses generally can still deduct business-related payments in full as a business expense on their federal income tax return. The key phrase here is "business related payments". So what would be a qualifying business related payment ? How wide or narrow is this definition ?

I assume you are working on a 2017 return with a transaction that happened before 1/1/18, because under the TCJA like kind exchanges will only be allowed for real property .

I have been using prior year Drake programs, since my ATX 2016 program will no longer open. Since I did not buy ATX 2017, ATX will not support any of the prior year programs that I purchased.

I wouldn't touch this for double or triple the normal fee !

When I converted earlier this year,I noticed that Drake gives you a lot more method selections than ATX. Several of the choices are a bit confusing, which is where I found my differences.

Moving expenses are gone except for military on active duty.