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About BHoffman

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    ATXaholics Anonymous

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  1. IMHO this is a tax court case and your client should turn it over to a tax attorney.
  2. Wow! Just got off the phone with IRS e-help and my EFIN application is updated, I'm just waiting for the code letter to complete the EServices registration, and the woman who helped me could not have been nicer!!!
  3. Crap. I can't register online for EServices because our cell phone is in my hubby's name
  4. I am moving soon and wonder if I have to update my EFIN information with the IRS. Looked online and read IRS pubs. Not clear. Does anyone have experience with whether this is required?
  5. Remember this client? She sent me an email saying that Turbox comes up with them owing less tax. Exactly the amount if the 1099M info is entered on line 21 and not subject to SE tax. She wants to file the Turbox version naturally although she did offer to pay for my services anyway. I responded that the difference was due to self employment tax, she didn't owe me anything, and have a great day.
  6. BHoffman


    I'm on the slide to retirement and have filed zero extensions as I'm traveling all summer and into the fall. So far, so good and it will nice to leave without any "baggage"!
  7. I think this might help: https://blog.foxwealthmgmt.com/2016/08/15/tax-planning-with-a-266-election/
  8. Boy, I'm sure glad I caught that one. This guy had whopper 1245 gains! Thanks so much for the reassurance.
  9. I don’t use ATX so cant help you there
  10. SCorp client sold equipment that had previous section 179. Big 1245 gain. I can apply this gain to QBI for the deduction, right? All other issues allow the deduction (wages, income, etc)
  11. Building and land are both 1250.
  12. Is this what you need? https://www.irs.gov/pub/irs-access/f8855_accessible.pdf
  13. That’s where it’s going. Overthinking, and they are going to owe around $2k due to underwithholding. Ugly.
  14. It seemed obvious to me as well but the fact that she isn’t actively pursuing this as bonafide business and Catherine’s comment about an appearance fee got me overthinking the thing.
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