Gail in Virginia

But is it taxable? It was written by the director and published by the agency - does it further the exempt purpose of the organization? Does the director receive any remuneration for writing the book? Do the people selling the book get paid or is it all volunteer labor? Selling items to raise funds is not always a taxable activity to a non-profit. It all depends on facts and circuses, as Jerry Mealer used to say.

I would not ask too many questions of Rita. She has this really large back yard....

I am not an expert on annuities (or any insurance product, for that matter) but I thought that there were two different types of annuities. If he invested $400,000 from life insurance proceeds at one whack, I would not think that this is the type of annuity that behaves like an IRA/qualified plan. In which case, I would have thought that he could recover his investment without tax penalty although there might be penalty from the insurance company for early withdrawal. But I am quite willing to be corrected on that since I really don't know much about how annuities are structured.

Just wondering - if you are not employed, can you receive tips? If you were self-employed, they would not really be tips, just additional income you earned. If you work for an employer, you report your tips to your employer to be included on your W-2. So ir you are not self-employed, and you are not working for someone, is what you receive actually a tip within the definition of the tax code? Are tips defined somewhere? I did not see a definition in Pub 531, and did not take the time to look elsewhere. Of course, even if they are not technically tips, they would still be income since anything not specifically excluded is considered taxable income....

According to the IRS website, if they don't file a 990 they should notify the IRS by letter or fax, with a copy of the change to the articles of incorporation and proof of filing with the state, at Customer Account Services. The information is found at https://www.irs.gov/charities-non-profits/charitable-organizations/change-of-name-exempt-organizations

Assuming that the non-resident spouse is not a US citizen, she can file as MFS or HoH, depending on whether she provides a household for a dependent she can claim on her taxes, and only report her income. She can elect to file MFJ and report their worldwide income. But if her husband has no nexus with the US causing him to file a return, it is up to them whether to file together and include his income or file separately and only report her income in the US. At least that is my understanding of the election to file jointly and report world-wide income.

I faxed a 2553 to the IRS on June 1, and the client has so far not received a letter from the IRS regarding his election to be treated as an S Corp. This is a new corporation that was incorporated effective 5/12/16, and I want to be sure the election goes through. Should I be concerned yet that he has not received the notice accepting or denying his election? IRS does still send out letters regarding this, don't they?

One of my favorites: A fine is a tax for doing wrong. A tax is a fine for doing well.

What a tragic situation to deal with. I am so sorry that you and your family. Must go through this. Prayers for you all.

Just curious, Jack, if you have no connection to the internet how do you update software and e-file returns?

Even those cash registers can't compete with people who won't use their brains. My sister managed a grocery store for a major chain at one time, and I remember her telling me about the cashier who called her over because the cash register said to give back 0.25 change, and she was out of quarters. Sis pointed out that she had a drawer full of dimes and nickels, but the cashier still didn't understand - she needed to give them twenty five cents and she was out of quarters!

The article was so interesting that I actually watched the video. Wow.

I have not, but I will check it out. Thanks, Catherine!

The information for 2014 should be available from e-services. Just be sure to pull a Wage and Income transcript rather than a tax transcript. Or whatever they are called.

I have never read the Divine Comedy entirely, in English or Italian, but Larry Niven and Jerry Pournelle did an excellent fantasy version of the story entitled Inferno. Nominated for both Hugo and Nebula awards in 1976, it is highly entertaining and borrows the geography of Dante's Hell. If you want something a bit lighter than the original, I highly recommend this book. i know we have some science fiction aficionados on this board.

Thanks for the in-depth review. I would just add that as of July 1, if an organization qualifies to apply using the 1023EZ, the user fee has been reduced to $275.00. And it seems to me that I recall reading somewhere that if the gross receipt are less than $5000 per year, they do not have to file for approval but should file the 990N. In order to get set up to file the 990N, they would have to call and request registration for that purpose.

I have been introduced to some wonderful authors and books through Bookbub, that I probably would not have come across without it. I also get emails with specials from http://robinreads.com/ There is some overlap between the two, but not always. I love getting books (including cookbooks!) for free. And they are almost always available in multiple platforms, so that you can choose between Amazon for Kindle or BN for Nook.

I have owned a Kindle, one of the earliest, a Nook, and an iPad. I am a tech geek to a point, and they all had their good points. If you are not going to be using the device for anything but reading, I would go with the Kindle or the Nook. My personal preference was the Nook, but my Kindle was old enough that it did not have a touch screen. The iPad (or other tablet device such as the surface pro) is the most versatile, but the Nook, or probably the Kindle Fire, are nice compromises in that you can download books, games and videos on them and they generally are less expensive than true tablets. My husband has a Kindle fire and and iPad, and he uses both devices depending on what he is doing. Going to a store that carries multiple devices and handling them is good advice; you might also check among your friends who are geographically close to you and see if any of them use any of these devices and would be willing to let you borrow them for a day or two to see how hard or easy they are to use. All of my devices are still in use - my mother has my kindle to read on, and my son has my Nook because he can't afford a tablet and I won't give him my iPad. I would base a decision on personal preference for what you will be using it for, and price point for you personally. Although I do think that my first Kindle was in the nature of a gateway drug....

You might want to read this article in the Journal of accountancy: http://www.journalofaccountancy.com/issues/2012/jan/20114540.html. I found it by googling IRS and Quickbooks. While I would prefer not to just hand over the quickbooks, i am not sure there is realistically any choice.

Virginia would have also cashed the check.

If the older brother is totally and permanently disabled, age doesn't matter.

It would be helpful for this and many other questions if members put their state in their profile information so that it shows with your posts. In Virginia, distributions can be made from an estate without prior approval.

i love this quote from the article: The lesson, of course, is that in order to get a tax break for work clothing, the clothing must be so specific, awful, or embarrassing that no well-adjusted person would dare to wear it outside of employment. I would like to quote that in my newsletter this fall.

I disagree, Jack. I think the only 100% surefire way to never have a credit/debit card hacked is to never have one issued to you.