kcjenkins

The rule is based on convenience for the IRS rather than on individual fairness. But it is what it is. As Jack said " Essentially, there was so much fraud with the Hope Credit, that this was put in place. "

No "business plan" could out-weigh 16 years of losses, IMHO. Reminds me of the old saying "pigs get fed, hogs get slaughtered".

She's smart not to cash out her 401K, but she still needs to understand that she has to consider that her withholding was too low. Hopefully she's correcting that going forward. And yes, no matter how she arranges the loan, it's a personal use, so the interest is personal.

I was due for an appointment with the gynecologist later in the week.Early one morning, I received a call from the doctor’s office to tell me that I had been rescheduled for that morning at 9:30 am. I had only just packed everyone off to work and school, and it was already around 8:45 am. The trip to his office took about 35 minutes, so I didn’t have any time to spare. As most women do, I like to take a little extra effort over hygiene when making such visits, but this time I wasn’t going to be able to make the full effort. So, I rushed upstairs, threw off my pajamas, wet the washcloth that was sitting next to the sink, and gave myself a quick wash in that area to make sure I was at least presentable. I threw the washcloth in the clothes basket, donned some clothes, hopped in the car and raced to my appointment. I was in the waiting room for only a few minutes when I was called in. Knowing the procedure, as I’m sure you do, I hopped up on the table, looked over at the other side of the room and pretended that I was in Paris or some other place a million miles away. I was a little surprised when the doctor said, “My, we have made an extra effort this morning, haven’t we?” I didn’t respond. After the appointment, I heaved a sigh of relief and went home. The rest of the day was normal .. Some shopping, cleaning, cooking. After school when my 6 year old daughter was playing, she called out from the bathroom, “Mommy, where’s my washcloth?” I told her to get another one from the cupboard. She replied, “No, I need the one that was here by the sink, it had all my glitter and sparkles saved inside it.” Never going back to that doctor again……….. never.

1, Not IRD, but be careful to document FMV at DOD, as that could vary either way by the time it is actually sold. Grain prices can be volatile. 2. Yes, if the couple qualifies for the farmer rule in 2013, which it sounds like they will, no need to estimate tax as long as it is filed in time next March. UNLESS there are estate issues that make it wise to estimate taxes before making distributions. You know what I mean. Sometimes if there are multiple bene's, there is pressure on the executor to hurry and distribute funds. In cases like that, it is often wise to pay the estimated tax first, just to be safe. Tax law is not always the only thing we should consider.

LOL

I agree, essentially he had assigned zero basis in the rights, when making the land sale. While that was questionable then, it now is fair that it be used as the basis brought forward.

OK, they finally released the second video, Gilligan's Island http://www.youtube.com/watch?v=CBq8yzLObGg

YEAH, but it's one thing to be taken by a "you won a prize" email. Dumb if you did not enter a contest, but at least tempting to believe. But this one I got does not even try to sell me some even slightly believable story. I'm supposed to believe some stranger just wants to will me $10 MILLION ??

Senate Finance Committee releases draft of tax simplification options. On March 21, the Senate Finance Committee released a document titled “Simplifying the Tax System for Families and Businesses.” It is the first in a series of papers on tax reform options being considered by the Committee, including options suggested by witnesses at the 30 tax reform hearings that have been held, bipartisan commissions, tax policy experts, and members of Congress. The document emphasized that the list was non-exhaustive and that placement on the list doesn't imply endorsement of any particular option by either Committee Chairman Max Baucus (D-MT) or Ranking Member Orrin Hatch (R-UT). The reform options included the following: Reduce tax fraud and taxpayer identity theft by limiting access to personal identifying information, partnering with third parties to share successful practices to combat identity theft and tax fraud, and improving information sharing with federal, state, and local law enforcement. Reduce the tax gap by, among other things, restructuring and simplifying the penalty system to improve voluntary compliance and ease administrative burdens, improving and enhancing third-party information reporting, and enhancing privacy protections in IRS whistleblower programs. Improve the taxpayer experience in IRS audit and collection procedures. Enable IRS to verify information on taxpayer's returns against third-party information as returns are processed. Reduce compliance costs by having IRS fill out simple returns for taxpayers (i.e., by pre-filling returns with third-party information and preliminarily calculating tax liability, similar to California's “Ready Return” program). Repeal provisions that require taxpayers to calculate their tax liability multiple times (e.g., the alternative minimum tax). Simplify and conform definitions in the Code. Improve government transparency by providing taxpayers with a receipt for taxes paid, which would show the taxpayer's average tax rate, marginal tax rate, the value of the tax expenditures they claim, and/or an allocation of their tax payments to the major spending categories in the federal budget.

It's expensed. Does not matter how much the 'deductible' was, that's just a name for the amount of risk you chose to assume yourself.

That's great news Tom. We will all be rooting for him. And for you to survive his last year of HS. My granddaughter who has always wanted to be a vet just got her letter notifying her she's been accepted at UC-Davis, which has one of the best vet schools in the country. I'm excited about that.

email I just received Barton, Allen G. <[email protected]> 9:03 PM (54 minutes ago) to undisclosed recipients Please write my Lawyer now i have WILL YOU $10,000,000.00 contact Via Email :[email protected]

50 Things you didn't need to know ... ♥ d 1 - Rubber bands last longer when refrigerated. 2 - Peanuts are one of the ingredients of dynamite. 3 - There are 293 ways to make change for a dollar. 4 - The average person’s left hand does 56% of the typing. 5 - A shark is the only fish that can blink with both eyes 6 - There are more chickens than people in the world. 7 - The longest one-syllable word in the English language is”screeched.” 8 - On a Canadian two-dollar bill, the flag flying over the Parliament building is an American flag. 9 - All of the clocks in the movie “Pulp Fiction” are stuck on 4:20. 10 - No word in the English language rhymes with month, orange, silver or purple. 11 - “Dreamt” is the only English word that ends in the letters “mt”. 12 - Almonds are a member of the peach family. 13 - There are only 4 words in the English language which end in “dous”: tremendous, horrendous, stupendous, and hazardous. 14 - A cat has 32 muscles in each ear. 15 - An ostrich’s eye is bigger than its brain. 16 - Tigers have striped skin, not just striped fur. 17 - In most advertisements, the time displayed on a watch is 10:10. 18 - Al Capone’s business card said he was a used furniture dealer. 19 - The characters Bert & Ernie on Sesame Street were named after Bert the cop and Ernie the taxi driver in Frank Capra’s “It’s a Wonderful Life.” 20 - A dragonfly has a life span of 24 hours. 21 - A goldfish has a memory span of 3 seconds. 22 - It’s impossible to sneeze with your eyes open. 23 - The giant squid has the largest eyes in the world. 24 - In England, the Speaker of the House is not allowed to speak. 25 - The microwave was invented after a researcher walked by a radar tube and a chocolate bar melted in his pocket. 26 - The average person falls asleep in seven minutes. 27 - There are 336 dimples on a regulation golf ball. 28 - The average human eats 8 spiders in their lifetime at night. 29 - A cockroach can live nine days without its head before it starves to death. 30 - A polar bear’s skin is black. Its fur is not white, but actually clear. 31 - Elvis had a twin brother named Aaron, who died at birth,which is why Elvis’ middle name was spelled Aron: in honor of his brother. It is also misspelled on his tomb stone. 32 - Donald Duck comics were banned in Finland because he doesn't wear pants. 33 - More people are killed by donkeys annually than are killed in plane crashes. (Not any more!) 34 - Stewardesses is the longest word typed with only the left hand. 35 - Shakespeare invented the words “assassination” and “bump.” 36 - Marilyn Monroe had 6 toes on one foot. 37 - If you keep a goldfish in the dark room, it will eventually turn white. 38 - Women blink nearly twice as much as men. 39 - Right-handed people live, on average, nine years longer than left-handed people do. 40 - The sentence “the quick brown fox jumps over the lazy dog” uses every letter in the English language . 41 - The names of the continents all end with the same letter with which they start. 42 - TYPEWRITER is the longest word that can be made using the letters on only one row of the keyboard. 43 - The word racecar and kayak are the same whether they are read left to right or right to left. 44 - A snail can sleep for 3 years. 45 - American Airlines saved $40,000 in 1987 by eliminating one olive from each salad served in first-class 46 - The electric chair was invented by a dentist. 47 - Vatican City is the smallest country in the world with a population of 1,000 and a size of 108.7 acres. 48 - “I am.” is the shortest complete sentence in the English language. 49 - No president of the United states was an only child. And last and definitely most important: 50 - The average chocolate bar has 8 insects’ legs in it. (i really needed to know that!!)

GOOD

Sounds like you were a serious bargain. Don't let it make you defensive.

Bridge To Hawaii A man was walking along a California beach and stumbled across an old lamp. He picked it up and rubbed it and out popped a genie. The genie said “OK, OK. You released me from the lamp, blah blah blah. This is the fourth time this month and I’m getting a little sick of these wishes so you can forget about three. You only get one wish!” The man sat and thought about it for a while and said, “I’ve always wanted to go to Hawaii but I’m scared to fly and I get very seasick. Could you build me a bridge to Hawaii so I can drive over there to visit?” The genie laughed and said, “That’s impossible. Think of the logistics of that! How would the supports ever reach the bottom of the Pacific? Think of how much concrete…how much steel!! No-think of another wish.” The man said OK and tried to think of a really good wish. Finally, he said, “I’ve been married and divorced four times. My wives always said that I don’t care and that I’m insensitive. So, I wish that I could understand women….know how they feel inside and what they’re thinking when they give me the silent treatment….know why they’re crying, know what they really want when they say ‘nothing’….know how to make them truly happy….” The genie said, “You want that bridge two lanes or four?”

A Doctors Advice An Irish woman of advanced age visited her physician to ask his help in reviving her husband’s libido. ‘What about trying Viagra?’, asked the doctor. “Not a chance,” she said. “He won’t even take an aspirin.” “Not a problem,” replied the doctor. “Give him an ‘Irish Viagra. It’s when you drop the Viagra tablet into his coffee. He won’t even taste it. Give it a try and call me ina week to let me know how things went.” It wasn’t a week later that she called the doctor, who directly inquired as to progress. The poor dear exclaimed, “Oh, faith, bejaysus and begorrah! T’was horrid! Just terrible, doctor!” “Really? What happened?” asked the doctor. “Well, I did as you advised and slipped it in his coffee, and the effect was almost immediate. He jumped straight up, with a twinkle in his eye, and with his pants a-bulging fiercely! With one swoop of his arm, he sent the cups and tablecloth flying, ripped me clothes to tatters, and took me then and there passionately on the tabletop! It was a nightmare, I tell you, an absolute nightmare!” “Why so terrible?” asked the doctor. “Do you mean the sex your husband provided wasn’t good?” “Twas the best sex I’ve had in 25 years! But sure as I’m sittin’ here, I’ll never be able to show me face in Starbucks again!”

I understand how you feel, Marco, but it is really better that you did not say that. You are a professional, only YOU can decide what your time and knowledge is worth. If you said anything, that is all you should say. Never try to put yourself into a comparison with some product or service, or even other tax preparers. If you feel you just have to say something, limit it to "I am a professional, I spend a lot of my time and money on continuing education every year to make sure I am up to date on all the changes in the tax laws, revenue ruling, court cases, etc. My fees are based on the time involved and the complexity of the return. If you are just shopping for the cheapest return, you are in the wrong place."

I tried to send you a PM, and it tells me you can not receive any more PMs? Why?

Do a Substitute. Form 4852.

Good for you! If you had backed down on the price you would have been cheating yourself plus sending them the message that you were trying to over-charge them. Not a good way to start a relationship.

Good point, Jainen. I had not thought about those possible events, but in today's computerized world, auto-renewals are a frequent thing.

Well, we got 3 inches down here in AR, thank goodness it snowed mostly at night, and was melted away by the second day.

The controversy still hasn't ended. There is another video with a "Gilligan’s Island" theme which the IRS has not released. In this case the agency is saying it was a "a legitimate training video" with "an island theme provided filing season training for 1,900 employees in our Taxpayer Assistance Centers in 400 locations." According to the IRS "using a video saved the agency $1.5 million each year compared to the costs of training the employees in person." No explanation why we taxpayers should not be allowed to see this 'training film'.