Abby Normal

Most shareholder 'loans' are not really loans and are totally undocumented, and never repaid. Making them equity allows for stock basis, avoids imputed interest and gains on repayment of principal if debt basis was used for losses. Not to mention having to track debt basis. You put it in as capital, you take it out as distributions. Easy, peasy.

Sometimes, when donations of goods is in the 501-700 range, I get them to agree to 500 to save more on prep fees than they'll save on taxes.

I don't do shareholder loans. Always goes is as additional paid in capital.

And apparently that legal fee deduction was killed in the new law: https://www.forbes.com/sites/robertwood/2018/03/12/new-tax-on-lawsuit-settlements-legal-fees-cant-be-deducted/#693a8a1e70d7

It was the Moore case (I think) http://caselaw.findlaw.com/md-court-of-appeals/1132400.html But, yeah, lawyers write vague agreements and then get paid to fight about what was meant for years afterward. Tell your divorcing clients to SPELL. IT. OUT. Regardless of what the law says. I asked my mediation attorney why my divorce agreement didn't specifically say that support ended upon remarriage, and she told me that she felt it wasn't necessary because 'that was the law.' I told her she should start doing it.

I just got one this year where the husband gets the 1099R for the full amount, even though the ex gets half. Thankfully no taxes were withheld. We issued 1099R from husband to ex. Also, there poorly crafted mediation agreement says 500/mo until he dies but says nothing about qualifying as alimony or not qualifying. Too many lawyers suck at their job. There was a MD case that went all the way to the state supreme court which, on a split decision, decided that lifetime payments ceased at remarriage because MD law clearly says they do. The ex got remarried one month after the divorce agreement. Alimony was rally high. I remember the surname in the case seemed appropriate.

All of our entity returns and personal property returns are extended the first week of March. We extend all unfinished returns the first week of April, unless we are 100% certain they will file on time and/or are getting a refund. With the way we customize our 4868, extensions go fairly quickly. I could repost if any of you missed it last year.

My experience with ATX support has been very good, with short wait times, helpfulness, etc. Plus, even more importantly, I have rarely needed to call support. Some of that is due to my self-sufficient, dogged nature, but a lot of it is due to the software just working.

Take solace in the fact that no auditor will understand it either. When I'm faced with at situation like this, if there are no red errors, I make some notes, call it day and only have to see it again if the government asks about it.

Enter Box 11 as tax exempt interest and box 6 as an adjustment code B.

I say that about the entire tax code!

I must be doing it wrong, then, because it seems pretty automatic. I find that things like this are much easier if you don't care too much about them. Also, I heard that even though you're not required to file the 1116 when you're below the limit, you're still supposed to do the calculations! Good luck with that!

Exactly. That's why I raised my rates on 1041s for trusts and estates this year. The lawyers just pay whatever I bill and no one ever complains.

I hope kidding is forever allowed. Life would be a lot less fun without it!

As a man, I have had women touch my arm, rub my chest, touch or pull my hair, hug me from behind with no warning and even smack my butt. I understand as a man I (usually) am in a position of power (physically, emotionally, etc.) so my reaction to these things is way different than a woman's would be. And, none of these things rose to a sexual level, in my mind.

Assuming those were all good hours 4-6K

Show me his title to the land. If he has no title, then he has an intangible right to access that land.

Seems like an intangible to me.

That's how it's supposed to work. If you're getting the deduction on Sch A, you're fine.

Override the amortization for this year to take the entire amount left in 17. Delete the asset next year.

https://www.nbcnews.com/nightly-news/video/hackers-target-cpa-computer-network-1177412675583 This is why my office is not on wireless network.

Hard to get them all in the shot.

I have 9 LED bulbs in my ceiling, all 4000K cool white. The 5 over the work are are 100w equivalent and the other 4 are 90w equivalent. They're on a dimmer than I usually have set less than 50%. When I crank it up, you feel like you're on stage. The total actual wattage of the bulbs is about 90 (10w per bulb), so I'm only using 45 watts or less to light my office. I, too, hate fluorescent. We still have them in the hallway until they burn out.

Someone's going to London.