Abby Normal

We used to put them in partnerships back then. Never in corporations.

Sch B, which means 1099INT. Unless it's mortgage interest income. In which case, use BrewOne's answer.

Dissolving any corporation with real estate in it is always a taxable event, which is why we always try to avoid putting the real estate into a corporation. Real estate should have been in a partnership/LLC from the beginning and the business should have paid rent to the partnership.

The income should go straight on the Sch F. I don't do any farmers but doesn't that flow automatically to 8995?

You do need an account and a PIN to file. I never thought about getting any signed permission to file.

Yeah, it's pretty easy. Uploading was always a problem for me, though. I haven't done one in a while, but here are my notes: FBAR Filing Instructions 1. Use Internet Explorer 2. https://bsaefiling1.fincen.treas.gov/BSALoginMain 3. E-Filing System Login password expires annually(?). 4. Select Report 114 - FBAR 5. Open a New Form 6. Must open in Adobe inside Internet Explorer. 7. Enter a name and save the file locally in client's folder. 8. Complete form, sign and save. 9. Click Manage PIN under Filing on left side to see and copy PIN. 10. DO NOT CLICK SUBMIT IN FORM. Close the form. Click Submit FinCEN Report on left side of the website just above where you just got the PIN. You'll need to paste the PIN in again. 11. Upload saved PDF. NOTE: If you did the FBAR last year, you can copy, rename, edit, save, sign and upload that PDF to save time.

If you use an authenticator app, you don't have to wait. I've had MFA since 2016, but I set my computers to be trusted so I almost never need to enter the 2nd code. But maybe they're eliminating the option to "trust this device" so we have to enter the code every time?

Maryland does not allow itemizing unless you itemize for federal. Maryland is close to be a flat tax for most people.

That rule is for hotels and requires substantial support services, like daily maid service, to be subject to SE tax. I'm sure there are court cases.

The 2106 was heavily abused by cheaters. The main things I like about the current tax law is a high standard deduction, so people don't have to worry about itemizing, and the elimination of employee business expenses. Make your employer reimburse you or find a better employer.

The conference call thing could have been due to the fact that I was using the internet to place the call and not cell service. I don't have great cell service at home so I place calls and send texts using the internet.

Which VOIP service are you using?

Also, you can make calls from your cellphone using your Google voice number to hide your real cellphone number from clients. It's like having a work phone and a personal phone, all in one phone.

The free one.

I use it for both personal and business. You can have it forward calls to your cellphone or just take a message. I prefer to have it just take a message, because I want text messages going to my computer, for ease of saving attachments and messages to my computer. You can also send or reply to text messages with your computer. You can make outgoing calls with your computer camera. I also don't have to give clients my real cell number. You can record a custom outgoing message too. You can not be part of a conference call with a Voice number. If only it would accept faxes, it would be almost perfect.

And also if the reverse mortgage paid off some of the original mortgage.

Agreed. You can do that with IRA distributions.

Or, maybe I used my cellphone camera to scan my face. I can't really remember, but that would make more sense since many don't have a camera on their computer.

This how "temporary" arrangements become permanent.

I remember that it took about 10-15 minutes, but I don't recall it being that bad. You do need a camera hooked up to your computer so they can scan your face. I have to do it again for my fiancee because she needs an IRS account and an ID PIN, since her SSN is definitely part of the recent leak. Here's where you can check to see if your SSN was leaked: https://npd.pentester.com/

I just hope we can stop it from becoming our overlords or starting a nuclear war.

This looks useful for password protecting our folders of client records and tax returns. https://www.wisecleaner.com/wise-folder-hider.html

I used a 5 digit Julian date numbers internally, while programming, and only displayed dates in readable form for humans. Y2K would not have been an issue for any programs I wrote. And the 5 digit Julian dates made it a snap to calculate the number of days between two dates. I used to dream in code!

I think there already is on the 2023 forms, or at least on some input screen.

Both my Google authenticator and my Microsoft authenticator provide 6 digit codes. I hope they provide desktop versions of these because it's convenient to copy and paste the code on the phone. Might not be deemed secure enough to have on desktop, though.