TAXMAN

TP was in the car racing business about 10 years. Bought a motorhome to pull trailer that housed race car. Mh was on depreciation as 10 year property. Into seven years TP got out or racing and sold everything 2 years ago except the mh. The past two years mh was treated as a second home for the mortgage deduction. TP sold mh for a lot less then what his after depreciation basis was. Is loss somehow deductible or is he barking up wrong tree. Some have said prorate based upon time as sec 1245 and second home. What do you think? Many thanks.

Does anyone know what the renewal price may be and if you sign up now when do they actually bill?

JJ I agree with your info. Can you answer Rita's question. The bookkeeper for the church figures out what the salary will be and pays one half of this number to the clergy which also gets included in her wages(w-2). Bookkeepers question was does she now include the insurance number in this figure also for calculation of the Fica tax? They were warned and now are changing how they do this. Problem may be what do they do about first 6 months of 2015? Thanks for your help?

Anyone dealing with clergy and church? How are we to handle health ins in this matter. Clergy has their own health in. We have been reimbursing for this. I see we can no longer do this. I think we have to increase salary and calculate FICA on this increase. Do you agree? or what is your response? Thanks to anyone who can steer me right.

Can a tp owing for 2 years less than 50k do the online self installment 6 year aggrement?

Anybody had any luck with these fair collections letters or hearings. Problem is TP has bigger mortgage than IRS books allow thus showing additional spending $?

You could type in DO NOT SIGN HERE On a joint return type once copy it and paste. One of my preparers came up with FINAL DO NOT MAIL.

Can a self supporting 23 year old claim the AOC credit? Has not used any credits in prior year. TP does not live at home and maintains all his expenses. 1098-T half time box is checked. The way I worked through the requirements he can.

Someone check me on this. TP age 70 started Roth IRA 7-01-2009. I believe TP can start wd from RothIRA beginning Jan 2014. I don't think he has to wait till 07-02-2014. Right or wrong. Head is a little fuzzy. Manny thanks.

Is that logo created above available?

I am finding so many bad things this year that I too am way behind in getting anything done. Esp broker stmts.

Yes my dr told me that yesterday at my review. How do you explain to clients that you will be extending without offending? My helper was out the entire month of Jan and half of Fed due to shoulder surgey. My mom had back surgery 3 weeks ago when she woke up and could not move. How do I even attempt to catch up when I am already mentally exhausted? Just trying to figure out what to do.

Question recently asked but no one had a ready answer. When preparer dies CAN TP ask for all records pertaining to tp be returned to him?

How about "whats the Radar Target/"

Thanks be to all. Will inform clients of all possibilities for them.

Have TP who pays for long term care ins each year. This year he had extra income so he paid 2 years. Each year on its own exceeds the table amount. What CAN I do with the extra year he paid for? Pub 502 is quiet on the subject when this is done. What do you think?

ATX just put down a correction to this problem.

Show them a prior W-2. Wages and ss Wages. See you didn't pay the tax. Some states don't allow this deduction anyway>

Just moving back up as more of my clients want the blanks.

Darn thing keeps printing portrait mode with lots of open holes. KC did you change printer settings somewhere to get this to print that way?

What is weird is none of those boxes are checked on the file I see somehow when you close a return and open it back up the x magically appears????. Supposedly if the 2210 is not needed it will not be efiled. Somehow 2 of mine went through and promptly rejected. Fix and resend ok???

Lets go back to the original post. "he pays tax on the interest" I am not sure I follow this. Someone have some clarification on this matter as I have one coming in next day or two.

ATX users Is there a way to print the Schedule B detail Page in Landscape mode with only the columns that actually have something in them. Client likes to see all the Tax Exempt interest on paper. It used to do this.

My family shops a lot at those shops So I have a good idea on those prices. I also volunteer at local church reach out program. This gives me a good idea. I tell clients I want to see their list and values.

I can print Blank Fed est forms for client. I can't seem to get Virginia to do the same. Client likes to figure his own during the year. Just wants blanks printed. Has any body else tried this?