Abby Normal

It's still a partnership, they're just losing the liability protection of the LLC. If it's not expensive to keep the LLC, I would recommend they keep it. Also, they would need to go through a title change to put the property in their individual names, or a new partnership name (non-LLC).

I saw there was an Adobe Flash update this morning so I went to Windows Update and there was KB3035583 (the only windows update number I've ever memorized) as a recommended update. Be careful out there!

My first tax season was 1980 but I've been in and out of the public practice over my career. But, yeah, the end is near.

Uninstall KB3035583 http://windows.microsoft.com/en-us/windows/remove-update#1TC=windows-7 After you uninstall it, go into Windows Update and hide it by right-clicking on it and choosing hide.

Only if paid in December.

Assistant to the PR Specialist Lotta B. Essen

They are written down already. http://www.cartalk.com/content/staff-credits

I would include it in expense of sale (basis) instead of reducing the selling price.

Client wants to prepay next year's mortgage interest because of income spike this year. I told them it would all go to principal but they called the bank and were told they could designate it as not for principal. I still don't think the bank will allocate it to interest on the 2015 1098 because it hasn't been earned yet by the bank. All thoughts appreciated!

Just backdate the letter. The IRS isn't going to carbon date the ink to see when it was created.

You have to use an email client to download emails to your computer. Were you using Outlook in win7? If you're using the default email app, read this.

I know. I just wanted something more lighthearted and easier to refer to (Abby vs. jmdavis).

The rates are the same but the brackets are much smaller so the tax will be higher on a 1041 than a 1040.

They're called 'backronyms' when they deliberately craft a name to produce a desired acronym. CPU, FYI, FBI, LAPD are initialisms, not acronyms, because you don't say them as a word.

Ha! Henceforth I am known as Abby Normal. And let me be the first to say "Damn your eyes!"

I email it to the client (password protected) and let them forward it to the bank. No charge.

Putting rentals in an LLC doesn't change the rental loss laws.

Yes. Think of partnerships as a collection of sole-proprietors. They can pick up their marbles and go home, anytime.

I used Intelliconnect last year and will continue using it. I don't see anything 'intrusive' about it.

No. Distributing assets to partners is not a taxable event. That's just for corporations.

How is the real estate titled?

I've never tried to do anything like that. I just use TeamViewer and run ATX remotely with nothing installed on my home computer. You need a networking VPN IT person.

Just watch from 29:00 - 34:27 https://vimeo.com/147945640