michaelmars

i wish i were a non filer then i could get my share of the millions.

its being required for all financial emails with personal info.

a big sign behind my desk "Your failure to plan does not constitute an emergency on my part" generally i am pretty accomedating but not during a crunch week like 3/15 or 4/15

unfortuneatly the other board is the only way to get tech support this year.

careful with the word "capitalized" because you are right but many might think that it gets depreciated. if they are building houses then they are manufacturers and you have to add 263A costs.

if building the house, the costs go to inventory

HE IS AN ASS, but we enjoyed your back and forth. we should all report his obama, and other posts as being objectionaable.

THE LAST SENTENCE SAYS IT ALL!!! N.Y. Attorney General Finds Law Tailor-Made for Tax Case BY RICHARD J. KORETO March 12, 2013 2:25 PM In a case that will be no doubt be remembered for both the novel application of a state law and its farcical aspects, well-known New York City custom tailor Mohanbhai "Mohan" Ramchandani, of Mohan's Custom Tailors, admitted before the New York County Supreme Court to failure to pay nearly $2 million in sales and income taxes. He pleaded guilty to felony charges and agreed to pay $5.5 million to settle separately filed civil claims. Mohan also faces up to three years in prison, as noted in a release from New York State Attorney General Eric T. Schneiderman. It's a landmark case because, according to Schneiderman, this is first time that New York's False Claims Act has been used in resolving a tax case. The release explained that the act requires defendants to pay treble damages and civil penalties if found liable. To make the law even more powerful, in 2010 the state added amendments to the law, allowing whistleblowers to come forward to make claims about tax law violations. The law entitles whistleblowers who report fraud against the government to claim a share of the recovery. Indeed, it was a whistleblower who first reported Mohan. Although the release did not state the whistleblower's name or connection with Mohan or his business, an article in the New York Times said a former employee, Vijay Tharwani, filed a whistleblower lawsuit against Mohan, which led to the charges. Tharwani is expected to receive $1.1 million from the money Mohan needs to repay. What the False Claims Act Accomplishes The attorney's general's website explains the key provisions and implications of the act. Chiefly, it allows the attorney general, a local government—or indeed, anyone—to file a lawsuit against a person or a company that "obtains or withholds funds or property from the state or local government through false or fraudulent conduct." When citizens file, they may do so in secret to give investigating authorities time to investigate. If the investigations and prosecutions are ultimately successful under the New York law, the individuals may be able to keep a portion of the funds they help recover. If they're employees of the company found guilty, the law also protects them against retaliation. However, individuals must bring suit themselves, with a lawyer they've hired. The attorney general's office does not represent individuals in any situation, nor can it make a referral to a private attorney. There are attorneys who do specialize in False Claim Act cases, the site notes. The act itself is also posted online. Significance of Mohan Case Attorney Jack Trachtenberg, formerly Deputy Commissioner and Taxpayer Rights Advocate at the New York State Department of Taxation and Finance, said in an interview that this case was important because it was the first time in the state there was money paid out as a result of a tax-related False Claims Act case. "If the law stays as it is, we're going to see more tax cases like this. As word spreads, people will see an opportunity to be rewarded," said Trachtenberg. The law, Trachtenberg continued, is publicly touted as an anti-fraud measure; that's what the press releases say. "But there doesn't have to be any intent of fraud for the False Claims Act to come into play," he said. Even a reckless disregard or deliberate ignorance could lead to liability, and it may be hard to draw the line between that and an honest mistake. Further complicating the situation is the New York law's conspiracy provisions: tax preparers or advisors who are seen as conspiring on tax evasion with a business owner, for example, could be liable, added Trachtenberg. This means that tax preparers need to be more aware than ever before. "They should be doing due diligence and heightening scrutiny. You can't stick your head in the sand," said Trachtenberg.

I HAVE had a few nexus residence audits and the position is, if you have a home in nyc [owned or leased] unless you rent it out you are a resident. there is an attorney that lectures on this all the time and she has built a practice in fighting these cases. the only way to move out of nyc if you work there is to get rid of your city home. this is a city issue not state since for example if you actually reside n NJ then you pay nys on your wages and get a NJ credit so for state purposes there is very little effect but add in the city 4.3% and you get screwed.

not in operation, no depreciation. make business use 0 for the year so you don't lose track of the asset by deleting it.

i got my first post this year deleted and honestly, it was funny and not that mean.. i have been much worse in the past. whats so funny is that although they deleted it, it was quoted in other responses to it so its still visable. They can't even censor their own board correctly this year.

so let me get this straight, he has a residence in NYC that he doesn't want disclosed on his return yet You made a mistake? He is commiting tax fraud which you Should Not represent him for. Does he have a log?, the new proceedure is any day you come into NY even if you sleep out of the city, is counted as a nyc day. hit 180 of them and you are a city resident no matter where you sleep. does his e-z pass show he comes into the city 180 days, he is a resident even if he only comes in for 1 hours. this is a huge money maker for NYC and just getting worse. as for the ethnic slur, for me thats an automatic dismissal of a client.

While i love your attitude i think you invested too much time on this already. He is a jerk and you should move on. Just be carefull in your emails that you don't admit to knowing that he was really had a residence in the bronx. Being jewish myself, my answer would have been much more colorful. Lets hope he is the type to not keep old copies of his return so when other years get questioned he will have to groval and pay for you to supply copies.

I saw the title and thought it was about ATX!!!!!!!!!!

now that you say its a separate building, i would use 39yr

No matter what you do, your fee should be higher than the saving of tax on a 700 deduction

gross salesprice has to match so i usually just put in a cost of +/- to net out the gain/loss. i put the stk name and nominee in the description line and try and keep it right below the corresponding entry

Hang and rehang are what we want to do to the atx programmers and testers this year.

Glad it no longer hurts when you laugh! A guy goes into a bar and sees what are obviously a Mother and a Daughter with long flowing blond hair. He walks up to them and asks, "are you two sisters?" They look at eachother, roll their eyes and respond "well duh we aren't even catholic"

Sequestration - is that a sort of horse back riding? where is my lexicologist when i need him?

there is an 80/20 or 90/10 rule, i forget where you can still treat the building as one unit and not have part 39 and part 27.5

PROseries took 2 weeks to convert but probably much faster now with the rush over, input is fast and everything converted better than expected. learning curve took me about an hour for a simple 15 minute returns for each type but now its a breeze. Printing is a one button proceedure, no more selecting copies, which forms or worksheets etc. its all done globally.

ooop sorry about that, i missed it.

JOEL- you should be a lexicologist, nice word.

http://www.prnewswire.com/news-releases/cch-ceo-hensley-resigns-post-73806852.html