michaelmars

:pop:

IOU

FILE NOTHING ITS A DEAD ISSUE

deduct

HOW can an llc with TWO members be a disregarded entity?

IF THE estate distributed the homes to the 2 bene's then schedule e [or actually a 1065] is appropriate. the estate does not have to sell the homes to get them out of the estate. a new deed needs to get filed.

also consider if there is anything in the older years where he wants the statute to run out on, filing the nol restarts the 3 years on those returns.

i can answer that, assuming its an s corp and they don't have workers comp or disability policies since the shareholders are the only ones on payroll. adding the child makes you have all of the above. I sort of do the same with my kids, they spend the summer scanning back files so I can shred them. and the nice thing is since its earned income they can have an ira. its a nice gift to give your kids if you can swing it. 10k income, 5k ira, no taxes due but fica. 10k might sound high but figure you would give then 1/2 that anyway in allowances, gas money, date money, school supplies etc.

is the loss from a passive activity being limited?

I would probably just elect to carry forward, carry backs are a pain.

he has been making deposits all tax season,,,,this was just a funny brain fart

Macallan 18 y/o in 3oz doses does the trick. -

just send a bill- they will run

marked no, less money in politics the less tv ads I have to see.

I handle a dozen lawyers, you know the type, they always get retainers up front for them but take 6 months to pay you. but I love them because they are the ones that refer business clients to me.

staff is more dense than clients.... while I was typing the above post, our new 25 y/o intern came in with my daily deposit in his hand. 3 checks from clients and he asks are you sure you want to deposit this in this account? why? because you are depositing into Citibank and the checks come from chase and td. and my wife wonders why I drink at work!

wonder what job he is unemployed from!

are you sure they are yours? hmmmmmm!

never heard that because its not true

New client had my first and middle name so naturally I entered my social security number as his.

The way I see it is that this is a private forum created and owned by Eric, assume you made some payments to Eric those were donations not membership fees. Nothing gives you the right to dictate how it is being run Eric owns the board and KC is his majordomo. The only one here who could censor her is Eric. Maybe if you ask nicely Eric will set up a forum for "SCL approved posts". The only comments KC should get are thank you's for all the work and time this takes from her life. I appreciate the "attempt" to keep political posts separate but too many times the lines get blurred. When I don't like a post or its heading then I skip it, I don't complain about it being here. I like the humorous posts and don't like the spring flower ones, so what, someone else will like the flower talk and not the humor. this forum is a nice tool to share tax ideas, work on problems, discuss political issues that affect taxes and some that don't. its a great diversion while taking a little break or printing a return. Its not a cch forum that is dedicated solely to taxes. I can't believe all I learned here which is something I planed on posting after tax season but will post now. Being on the "gold coast" of long island its easy to get very jaded. My associates, my clients and most friends and family are from around here. What I have learned is that this is a big country with such varied social and economic differences. I love guns for self-protection, I train in martial arts and petkiti-tirsia knife fighting but except for a "few" cop friends most think I am crazy. When I read all of those here from across the country who defend gun ownership I see I am not alone. When I first saw some posts here about people raising fees $5 or others whose clients complained over small increases, when I see people here talking about the cost of toner or paper, or see others worried about depreciating $100 items I used to roll my eyes but I have learned here that while $100 here is nothing, not even a movie night out, for others it is a very significant amount. I couldn't pay my rent or eat around here if I charged what some of you charge but, you charge what makes sense for your area. Even a simple rental house around here starts at over $500,000 so to me, capitalizing anything under $5000 [in most cases] would be ridiculous. its just a different way of looking at things. I think I pay more for health insurance for my employees [$25,000} here than some of you earn, but that's not a slight, its just an economic geographic thing that I learned here. Being here you get used to big numbers but I learned that they are not normal nor universal. I bet many of you don't have to pay $20 for a sandwich but because I do, I found it hard to understand some of your posts but I am glad to have learned to look at things more universally. ok, I rambled enough after 5 hours of sleep each of the last 3 night.

1041 for a deceased uses social security number so show it there and there is a form to allocate the taxes withheld to the beneficiaries. but why assume the husband has authority to file anything for the wife? was he court appointed? seems like a lot of hassle for one 1099

THANKS ALL!

I am gonna go with the pdf attached, worst that could happen is they ask for the original.

I charge per staple that I have to remove....I copy everything and that a client gives me. when it takes 20 minutes to remove all the staples on 1099's k-1's etc I add a frustration fee.