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WITAXLADY

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About WITAXLADY

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    Advanced Member

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    WI

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  1. WITAXLADY

    NT It has been real!!!

    good for you!! Hardest part I think is finding someone to fill your role and then letting go! Best of luck.. D
  2. WITAXLADY

    Depreciation Question

    sometimes we are our own worst enemy - barter - yes it sometimes is -0- but not always and laws says to report it - so I feel better to be known for reporting all and deducting all 2 cents is negligible- 10K is not! Guess it all depends...
  3. so I am going to whine first - between the IRS letters - need W-2, need 1099-R - should have been sent e-file, or at the least on file and should be with the IRS records! I am finally tackling some of the messier returns... client has S corp trucking business - dies in truck accident, have filed for EIN for Estate for personal, etc.. Vehicles are sold - final S corp - Where do truck sales go? after his passing... An estate return is not filed for the corp as finished with his death?? or do the vehicles belong to the S corp? Disposition and income? And where does the insurance money go? Taxable income? My brain is fried - point me to a Pub if you do not want ot answer as this is such a stupid question but I cannot figure it out I know what to do with houses, stocks, rentals, etc but this has me spinning. Please.. thank you D and of course dealing with distant family members so the information is so hard to get..
  4. WITAXLADY

    I really am not that dumb - report 6252 sale

    well it is a bulk sale and an installment sale ... do I have to sell them individually and pick some? or can I not sell business as a whole as it is just equipment? $5,400 down and rest in 2018
  5. WITAXLADY

    Good News!

    we make a big deal of Presidents and visiting dignitaries as well.. here
  6. WITAXLADY

    Late Filing of Form 2553

    me - I would do it now..
  7. WITAXLADY

    client says cost $1,000 for estate extension?

    well if it makes any difference - only has interest and soc sec and not enough to be taxable - mfj or mfs - so I guess it doesn't make any difference - this year! Did prior years though...
  8. so I have a sale - of business assets $10,000 depreciated all out, sold for $27,000 so some goodwill in there as well. so can I use Bulk sale? and goes to 4797 and then how do I get to 6252 Or if I use singularly - selling assets and break out the prices - I still cannot figure out how to get the 6252 to pick this up? been too long - used to be able to do these with 1 eye closed and 1 finger! oh that is how I type ok - 3 finger typing..
  9. WITAXLADY

    Good and Bad States

    hhmm - IOWA is a real pain as have to mfj, mfs but 2 to get different scenarios of tax and take lowest!! WI is both!! They are great as many states give credit for NOTHING! and WI gives lots of credits both resident and part year! But that is why they are bad - you have to catch all those credits and ATX never gets them all - have to know them, and manually input them both WI NPR and WI 1 Why is CA bad?
  10. 1 - he is wholesale manufacturer 2 - I am naive, but I do not think he ever lies... very nice guy, he is also somewhat naive 3 - will match further - I think it is 1099 error and 16, vs 17 error 4 - he does his own books and it may easily be a combination of 1099 and QB error 5 - good idea on bank statements as well - , do have qb file Thank you, D
  11. WITAXLADY

    client says cost $1,000 for estate extension?

    more info - yes it cost her $11o0 to have the atty file until June 1 - but if they are married - WI is community property - why would it not be hers? I guess I can a - do them - but b - pay less if mfj!! c - call atty but she will get charged?!
  12. WITAXLADY

    advice on $15 payment for $848 bill?!

    ya - our rule is we do not even tell family members if other family comes here or answer if they ask - neighbors etc, especially would never mention names in public - I could say did you know that so and so stiffed someone (else)!!!
  13. QB sales and 1099'as do not match and sales tax numbers to state do not 1099's are $60,000 more! Last year , had to add $100,000 to get to match,, this year short.. I was thinking just accrual sales reporting vs cash Until the 1099's were too high So I told business owner to go thru invoices and see if 1099's matched? Any other options? Where to look? Thx
  14. so we filed an extension for estate return widow calling and needs his estate tax done/filed... as she says it costs her $1,000 every time she has to ask for an extension? 1 - she is married to him - so it would be be their estate - hers not his to file? 2 - what would cost $$ to file and $1,000?! is she being scammed? He had a guardian prior to his passing and was filiing mfs - ??? but they were living together... Any light on this? Thx d
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