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About easytax

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    ATXaholics Anonymous

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  1. easytax

    Need Help with Rental

    Amend 2014 NOW (few days, minutes left) to get refund from dep for 2014 (if any) // taken or not, if entitled you should now take on amend). Amend 2015. 2016 for dep. and tfinalize 2017.
  2. easytax

    Letter Variables

    Thought this was to be a WEBINAR too? Maybe even live streaming? Just tie us into Rita's security system cameras and mic's and we can all experience the REAL TN happening (except for the food -- maybe make our own????).
  3. easytax

    Incentive Trip Deduction-Am I Mean?

    Possibly reaching and no cites off top of head -- BUT -- might depend on wording of reward. Would same amount be on 1099 if only she attended or less if she did not take a guest? If same dollars and cost would have been same for one as for two, then all might be business related.
  4. easytax

    Cryptocurrency sale

    Here is a follow up answer for some questions from the CPAacademy webinar from Wednesday (NOTE: different webinar and presenter (still free with free CE) today at 1400 hr.).
  5. easytax

    Cryptocurrency sale

    Cpaacademy.com has a webinar tomorrow 032318 1400 hr. Established. Free & ce too.
  6. easytax

    New Client Hasn't Filed in 8 Years

    Would you not have to file all years just to start (and eventually) end limitations? Agree do the 2014 so if refund you do not lose it.
  7. easytax

    N/T - exciting news

    You mean to watch with Ms."Cheri"; not to cook?
  8. easytax

    Rental in Germany - and more

    Easiest thing (and safest) is to treat EACH item on it's own. Does NOT matter if they co-mingle or barter, etc.. Look at each as its own individual occurence (for person) and things get a lot simpler. Take the dynamics and inter-play out and then the picture can become clearer. Maybe not easier as they are still a lot of parts --- but much easier to look at and plan and tax individually. Of course, I am also known to be simple-minded, so use idea at your own discretion. ALSO, life might be boring except for things like this. ///If it happens, God let it and God does not allow more than we can handle (whether we think we can handle it or not -- GOD knows we can).
  9. easytax

    Farm Value

    Son also needs to make sure that being in "assisted living" that there are no agreements that the facility or maybe even the state get the farm. Many times this is overlooked and a big surprise. On the tax issues, yes if the property was purchased by THEM, then probably the step up is only on the fathers basis when he passes and mom's remains at her cost. Depends on the wording of the deed, etc.. As an aside, make sure the attorney he "settles things" with acts on tax knowledge and law and not on just what the attorney thinks. Some do not and are also surprised.
  10. easytax

    US Citizens Abroad

    Probably not best timing BUT CPAAcademy is offering a webinar on "Changing Your Residency": https://www.cpaacademy.org/webinars/a0D1A00000xyPcZUAU CHANGING YOUR RESIDENCY Register Available Date(s) Monday, March 19, 2018, 4:00 PM EDT Tuesday, April 10, 2018, 4:00 PM EDT Choose Your Time Zone: Please select Alaska Arizona Central Time (US & Canada) Eastern Time (US & Canada) Hawaii Indiana (East) Mountain Time (US & Canada) Pacific Time (US & Canada) CostFree CPE Credits1.5 hours Subject AreaTaxes Course LevelBasic Instructional MethodGroup Internet Based PrerequisitesNone Advanced PreparationNone Who should attend?CFO / Controller CPA - small firm CPA - medium firm CPA - large firm Other Course Description
  11. easytax

    OIC Payments

    There is a fee regardless, unless you pay via check each time and even then there are pitfalls (never sure when credited, if it made it on time, etc.. Electronically at least leaves proof and timeliness. Pub 5123 ELECTRONIC FEDERAL TAX PAYMENT SYSTEM PAYMENT INSTRUCTION BOOKLET FOR BUSINESS & INDIVIDUAL TAXPAYERS https://www.irs.gov/pub/irs-pdf/p4990.pdf
  12. easytax

    Refund is not yet approved--why

    All IRS blurps seen so far state to wait at least 21 days after filing. 20 days is just short of 21. With that said, I have a few EITC people who have received refunds just a week to ten days after they started sending them AND they had filed just a few days before release.
  13. easytax

    US Citizens Abroad

    Changing domicile, especially NY to anywhere is VERY HARD. Even in easy states there are certain things that must be cut in existing state and done in new state or neither will "approve" allow change. a google search on "changing domicile will even bring up many discussions on NY (they seem to like keeping ALL tax dollars). Here is an article (full as many do not click on URL's): Changing Your “Home” For State Tax Purposes – Not So Easy It’s February, the middle of winter, and many of us are longing for warmer weather. Some with second homes in Florida or Arizona and the like start thinking about changing their primary residence for state income and estate tax purposes. Despite “cocktail party talk”, changing your residence for tax purposes is not so easy; and, if you do desire to do so, you must become familiar with, and adhere to, the residency and domicile rules. While New York imposes state income tax on a New York resident’s worldwide income, as well as state estate tax on taxable estates exceeding $4,187,500 (increasing each April 1 to eventually equal the federal estate tax exemption), Florida, for example, imposes no state income or estate tax upon its residents. A taxpayer is a New York resident if she is domiciled in New York, or if she is a “statutory resident”, which means spending 183 days or more per year in New York State and maintaining a permanent place of abode in New York State. Even if the taxpayer spent more than 183 days in Florida for that year, she still may have too many connections with New York that will lead to a determination that she has not changed her residency and is still a New York resident for New York tax purposes. In order to successfully change one’s residence for tax purposes, many ties with one’s former home state must be loosened or broken; and the important elements of one’s life must be centered in the new state. There are generally five factors which the tax authorities will look to in determining whether someone has changed their residency, frequently referred to synonomously as one’s “domicile” for tax purposes: (1) physical presence, (2) home, (3) family and business activities, (4) personal property of significance to the taxpayer, and (5) documentary evidence. Physical Presence. It is important to spend as much time as possible in your new state. Keep track of the days spent in both the old and new states, especially for the first year or two after the change in domicile. Stay at least 183 days of the year in the new state, but the more the better. Home. The taxpayer must have “abandoned” her old home. Ways to show abandonment of an old home are to buy a bigger, nicer house in the new state, rent the old house out to a third party and/or put the old house on the market for sale. Remove any property exemptions on the old house that are tied to it being a “primary” residence, like the STAR exemption. Family and Business Activities. The taxpayer should have her family visit her in her new home state for important occasions, or, better yet, have other family members move to the new state, too. The more family activities in the new state, the stronger the evidence that the new state is really the taxpayer’s new domicile. Be careful of supporting a spouse or children located in the taxpayer’s old state, which could be used as evidence against the taxpayer. Active business involvement in the taxpayer’s old state is evidence that there has been no change in domicile. Work as much as possible in the new state, and set up a “real” office in the new state, not just a home office. If the taxpayer owns the business, consider moving the principal place of business to the new state and withdrawing any business registration in the old state. Consider reorganizing the business entity in the new state. Personal Property of Significance. Move items of personal or sentimental value to the taxpayer’s new home. This includes photos, trophies, yearbooks, collections, and the like. Funeral and burial arrangements should be made in the new state. Documentary Evidence. While not enough alone, changing one’s residence on documents adds evidence to the fact that the taxpayer has, indeed, changed her domicile. Change the address on all accounts to the new address, including U.S. post office, social security, Medicare, credit card companies, tax authorities, phone companies, banks and financial institutions, doctors, social and religious organizations. Obtain a driver’s license in the new state and change voter registration. One factor will not control the determination of a taxpayer’s change of domicile. If you are considering a change of domicile to another state for tax purposes, make sure you are ready to satisfy all of the factors to prove your change of “home”; and discuss your plans with your tax advisor.
  14. easytax

    Husband is in the Military - Stationed in California

    Disagree. HOR can be different from domicie and does not define state taxation. Regulations and facts of "domicle" define state taxaction.
  15. easytax

    Husband is in the Military - Stationed in California

    Check what the domicile of the individual actually is. A W-2 stating FL does not mean anything. Facts and circumstances along with intent. There are specific things needing to be done to change domicile. It is not done easily. Just ask someone trying to prove they moved from NY to anywhere else. NY wants all they can get and other states although not quite as stringent are moving that way.