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Everything posted by Abby Normal
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Yeah, but if your insurance company finds out you're using it for business without properly disclosing that, then your claims can be denied.
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Ask for bank accounts and other records in the corporations name. If they don't exist, then the corporation has no activity. Always ask for copies of titles for 'corporate' vehicles. Some salesman talk purchasers out of registering a vehicle in the entity's name because they can get better interest rates.
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See, we can't even simplify English! But they are trying.
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The problem with rules is that as soon as your write one down, you end up needing 10 more to clarify or tweak. Then, more questions arise or tweaks are suggested and before long you have a book of rules.
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Even though I have nothing to base it on, I doubt that most countries have a simple taxing system.
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If they want simplification, just put a cap on mortgage/HE interest expense of, say, 25k, and drop the acquisition debt BS. It's clear that simplification is not in their genes. They should get a bunch of us small preparers together to hash out real simplification.
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Sorry to Waste your time with this Ridiculous Situation
Abby Normal replied to FDNY's topic in General Chat
Sorry about the loss of your friend/client... but I am looking forward to updates. -
If you have a PDF iFilter installed, you can search the contents of all the PDF copies of returns. You have to also change the Windows Indexing Options to index file contents of PDF files (Advanced, File Types)... and wait for the indexing to complete.
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Never had to do it but the Tax Advisor has this article on it.
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I keep waiting for the personal property auditors to show up, now that we're expensing everything $2,500 or less. The form asks for expensed personal property but my clients never give me a list.
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This is our down time of year. I find my brain is far from peak tax season form quite often.
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In my experience, corrected forms never seem to get posted to the IRS wage transcript.
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A corporation always deducts 100% of vehicle costs and adds the value of personal use to the W2.
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I understand the difficulties of determining how much was paid for tuition vs. room, board, etc., but if they could change box 2 to total payments received plus loans applied, that would be awesome. One smart college has a 1098T with an account statement printed on the back. Such an easy solution.
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Yeah it's been a pain getting transcripts, but I learned to just start here and it works: https://la.www4.irs.gov/esrv/tds/ Alternatively: https://www.irs.gov/tax-professionals/e-services-online-tools-for-tax-professionals
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https://get.adobe.com/reader/otherversions/
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Finally got around to writing a script to enter my password in ATX
Abby Normal replied to Abby Normal's topic in General Chat
I keep the same special character and change some numbers at the end. -
Just file form 8919 and be done with it. What the employer did or did not do, is of no concern.