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TAXMAN

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About TAXMAN

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    ATXaholics Anonymous

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  • State
    VA

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  1. It seems to me that with the like kind being taken off the table, trade value becomes a sale price. In the event of 179 and bonus in prior years WILL come to haunt you as several of my farmers did. Income averaging for farmers worked good this year but probably not next. Ask him if you can have a peek at what his BUDDIES did. I hear this a lot. This seems to be a problem when tp's want to owe no tax. Just thinking to myself.
  2. Is there a guide or some info on how many houses I can flip before the service will consider me a dealer making it subject to SS tax. I have a TP who is a landscape operator but during the course of 2 years flipped 3 houses. Selling all 3 this tax year. bought 2 in 2017, 1 in 2018. Fixed them all and sold them all. Your opinion please.
  3. TAXMAN

    Moving to VA

    Hi Sara, Welcome to the Valley. If you PM me with your office address We may want to touch base as I am only 30-40 miles from you. Is this going to be a perm. move?
  4. I am still at win7. Appears need to go up. Win 8.1 vs win 10. Which do you think will be a better move with the learning curve in the process. I am told I can make win 10 behave like win-7. Anybody had any luck in doing that. Also do you think my old programs other than atx run on the new version. Other thing is 8.1 or win 10 an upgrade or a fresh install thus wiping out all my old stuff?
  5. I too have never had any luck in reducing a co to a amended return bill. Therefore I now have all amended returns pay up if balance due. I also have had issues where I asked for an amended refund be rolled and dang-it IRS sent check. Go figure.
  6. Further checking Virginia is indicating not filed within the statue for refunds.
  7. Ok I cannot find what I need on this topic. TP filed a Federal Extension for 2015 with a payment and noting he was to get a refund from Virginia no extension on Virginia's part was required. When TP filed Federal and state return on 8-02-2018 tp's Virginia return did show a refund. When state processed return in May of 2019 they denied his refund. I think maybe Virginia may be wrong however I can not find a statue similar to federal where filing that extension also extends the date for getting refunds. Any help in clarification on my part is gratefully accepted. Thanks
  8. I have a TP who moved her Ice cream stand from one location to another. The new location required Excavation $1300, Plumbing ($2000) Electrical work($1346). I think the Excavation becomes land improvement and the other 2 would become leasehold improvements? What dep rate would you use?
  9. 10:35 AM 5-07-2019 STILL DOWN?
  10. TP deceased(2018) holding bonds fully matured 5 years ago. TP did not include them in their returns for any year. Estate got bonds cashed early in 2019. Can I put this interest on the final return of the deceased or do I include them as income for the 1041 to be filed next year? I think I read I could put them on the final return of the deceased.
  11. Do you know how long VA will actually hold the stock before converting to cash? I found one I had completely forgot about because of circumstances surrounding my divorce. Only 8 shares.
  12. TAXMAN

    NT EMAIL

    Has anybody gotten the email that's looks like it came from yourself stating you have been owned and asking for bitcoins?
  13. TP has not done any of those things referred to in the link. TP said he has NOT gotten anything since the auditor put his account on uncollectible status 10 years ago. The levy sent to the payer came from ACS regular mail and no previous mail has been received. Your suggestions. It seems strange that this letter came uncertified. With what will be left to tp he will not be able to pay his estimates federal and state, nor make his house payment, nor his health insurance. TP even would not be left with enough to work to earn his income. TP is a self employed Real estate appraiser and travel is quite extensive. Just some added facts
  14. Levy was dated 4-23-2019. Does this make a difference?
  15. I must be missing something. If a tax year balance due is uncollectable due to the 10 year statue, how can they get a levy on your pay to pay for a tax that is uncollectible. Where am I missing the boat?
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