Jump to content
ATX Community

kcjenkins

Moderators
  • Posts

    8,374
  • Joined

  • Last visited

  • Days Won

    313

Everything posted by kcjenkins

  1. I edited the title for you.
  2. Thanks for sharing that one.
  3. I believe each of them can take it on 'their half' of the home.
  4. "acknowledgement and judgement, are PERFECTLY acceptable alternate spellings" In that case I'll change my score to 21. THANKS, that makes me feel better.
  5. ((3)Liquidating Trusts, Voting Trusts, and Similar Entities In addition to investment trusts, the regulations give specific sanction to another category of trusts motivated by commercial reasons, rather than reasons of personal or estate planning. Reg. Section 301.7701-4(d) protects from "association" classification those trusts formed for the purpose of winding up a corporation's affairs subsequent to a liquidation, and to "bondholders' protective committees, voting trusts or other agencies formed to protect the interests of security holders during insolvency, bankruptcy, or corporate reorganization proceedings." The rationale for granting trust status to liquidating trusts is that their objective is a limited one, not directed to the carrying on of business by an entity. The liquidation must also be of limited duration. If it is unreasonably extended, the status of the trust may be placed in jeopardy. Thus, according to Reg. Section 301.7701-4(d), "If the liquidation is unreasonably prolonged or if the liquidation purpose becomes so obscured by business activities that the declared purpose can be said to be lost or abandoned, the status of the organization will no longer be that of a liquidating trust." As a disincentive to this kind of behavior, the IRS has issued advance ruling guidelines that generally limit the term of a liquidating trust to three years, limit investments to short-term instruments (Rev. Proc. 82-58 Section 4.04, 1982-2 C.B. 847), and set forth related restrictions on the scope of the trust's activities. Although the ruling guidelines do not purport to represent the limits of a liquidating trust's activities as a matter of substantive law (Rev. Proc. 82-58 Section 2, 1982-2 C.B. 847) and older judicial decisions have upheld the status of liquidating trusts exceeding the IRS's guidelines, the ruling guidelines serve as a warning to taxpayers seeking to employ liquidating trusts as a means of escape from the 1986 Act's relatively high corporate rates. To similar in terrorem effect, the regulations warn that the pass-through characterization of voting trusts, bankruptcy trusts, and similar entities will be lost if the trusts are "utilized to further the control or profitable operation of a going business on a permanent continuing basis."
  6. Farmers do not have to wait for the 'in service', once they have it in possession, they can start writing it off. Yes to §179
  7. Gee, no one is listing a score. I'll admit it, I only got 19 right. But frankly, that was not bad for me, as I depend way too much on my spell checker. Thank goodness for ieSpell.com
  8. Do the 8594 and it will help you determine how much goes where, Deb.
  9. The little country schoolhouse was heated by an old-fashioned, pot-bellied coal stove. A little boy had the job of coming to school early each day to start the fire and warm the room before his teacher and his classmates arrived. One morning they arrived to find the schoolhouse engulfed in flames. They dragged the unconscious little boy out of the flaming building more dead than alive. He had major burns over the lower half of his body and was taken to a nearby county hospital. From his bed the dreadfully burned, semi-conscious little boy faintly heard the doctor talking to his mother. The doctor told his mother that her son would surely die - which was for the best, really - for the terrible fire had devastated the lower half of his body. But the brave boy didn't want to die. He made up his mind that he would survive. Somehow, to the amazement of the physician, he did survive. When the mortal danger was past, he again heard the doctor and his mother speaking quietly. The mother was told that since the fire had destroyed so much flesh in the lower part of his body, it would almost be better if he had died, since he was doomed to be a lifetime cripple with no use at all of his lower limbs. Once more the brave boy made up his mind. He would not be a cripple. He would walk. But unfortunately from the waist down, he had no motor ability. His thin legs just dangled there, all but lifeless. Ultimately he was released from the hospital. Every day his mother would massage his little legs, but there was no feeling, no control, nothing. Yet his determination that he would walk was as strong as ever. When he wasn't in bed, he was confined to a wheelchair. One sunny day his mother wheeled him out into the yard to get some fresh air. This day, instead of sitting there, he threw himself from the chair. He pulled himself across the grass, dragging his legs behind him. He worked his way to the white picket fence bordering their lot. With great effort, he raised himself up on the fence. Then, stake by stake, he began dragging himself along the fence, resolved that he would walk. He started to do this every day until he wore a smooth path all around the yard beside the fence. There was nothing he wanted more than to develop life in those legs. Ultimately through his daily massages, his iron persistence and his resolute determination, he did develop the ability to stand up, then to walk haltingly, then to walk by himself - and then - to run. He began to walk to school, then to run to school, to run for the sheer joy of running. Later in college he made the track team. Still later in Madison Square Garden this young man who was not expected to survive, who would surely never walk, who could never hope to run - this determined young man, Dr. Glenn Cunningham, ran the world's fastest mile!. (This is not an urban legend, but a real story – see the Kansas Sports Hall of Fame site http://www.kshof.org/hof-profiles.cfm?record_id=12 )
  10. That depends on the site. The Jacquie Lawson site is the only one I ever use, and the only one I routinely open, because I know it's legit and the cards are beautiful. And I never got any extra spam after going to it.
  11. Was a Form 8594 done for the purchase? There should have been one, although it's not nearly uncommon enough for there not to be one. Still, you should do one, and include it in the return. Whether it matches what the seller reported is not your problem. You will put the depreciable items in the Asset entry, of course. Amortize items also. Inventory purchased would go into page two under Purchases, etc.
  12. In the past I've opened them when I knew the sender, but only if it was from a really reputable company, like the Jacquie Lawson cards. Even then, I don't click the link in the email, I open a new tab and type in the address to go to it. Right now, I'm neither sending nor reading them. It's a shame, really because the Jacquie Lawson cards are awesome!
  13. Order your free e-file Marketing Toolkit from IRS (11/10/2008) The IRS e-file Marketing Tool Kit contains IRS e-file promotional products and publications designed to help Authorized IRS e-file Providers grow their business by informing clients of electronic payment options and promoting the many benefits of e-filing their return. This tool kit is revised each year, to provide current information on the e-file and e-pay topics of most interest to you and your clients. New and existing Authorized e-file Providers are no longer mailed a reminder to order their free Marketing Toolkits, so order yours today by calling 1-800-829-3676 and ask for Publication 3005.
  14. RELAX, ZEKE. If it's in 1040 Office, then it is in every package above that, as well. In other words, MAX includes everything in 1040 Office plus some more stuff, and TTO includes everything in MAX plus other stuff, and TT&AO includes everything in TTO plus....... You get the idea.
  15. http://www.snopes.com/computer/virus/postcard.asp
  16. It's in the emoticons, Eric put it there last year. Maybe you just never scrolled down enough to see it? :dunno:
  17. I got them all, just wonder why Kukla, Fran and Ollie were not in there somewhere? I still remember my excitement waiting for them to come on........Lord am I OLD..... http://www.youtube.com/watch?v=bZxSbjhBFRs http://kukla.tv/
  18. If set up properly [i let my son do that, so can't offer much guidance on the details], you should have a choice of printers at both locations. I know I can print to the office printer in CA, or to my printer next to my desk in AR, just by selecting the correct printer. Check into the setup and I bet you will find that you just need to set a permission to let you print to the office printer from home.
  19. I use the Remote Desktop Connection that is built into Windows XP to access my CA client's books, and I can be on their network at the same time as other users, no problem. It just has to be set up at both ends one time. And it is free, and works well. Check it out before you spend money on GoTo or other paid services.
  20. Ah, but perhaps their spouse makes a lot more? That is usually the answer.
  21. I think you did the right thing. They put you between a rock and a hard place. As seller, you are supposed to push your product. Asking you to do an assessment of your own product compared to a competing product was not fair to you. If you gave them an answer in favor of your company's product, even if it was superior, they might well have seen you as biased, anyway. If you favored the other product, that would be disloyal to your employers.
  22. Could it be the CODE that caused the problem? Just guessing........
  23. Employees subject to the DOT hours of service limits include certain railroad employees, such as engineers, conductors, train crews, dispatchers, and control operations personnel. They are allowed to base their expense deductions on the DOT rules, rather than the 'overnight' rule. But since he does not itemize, it's moot for him. He won't have enough excess, at the best, to make itemizing work for him, unless he's close to the edge anyway. And those 2106 expenses are also subject to the 2% haircut.
  24. Lines That Make You Smile... 1. My husband and I divorced over religious differences. He thought he was God and I didn't. 2. I don't suffer from insanity; I enjoy every minute of it. 3. Some people are alive only because it's illegal to kill them. 4. I used to have a handle on life, but it broke. 5. Don't take life too seriously; no one gets out alive. 6. You're just jealous because the voices only talk to me. 7. Beauty is in the eye of the beer holder. 8. Earth is the insane asylum for the universe. 9. I'm not a complete idiot -- Some parts are just missing. 10. Out of my mind. Back in five minutes. 11. NyQuil, the stuffy, sneezy, why-the-heck-is-the-room-spinning medicine. 12. God must love stupid people; He made so many. 13. The gene pool could use a little chlorine. 14. Consciousness: That annoying time between naps. 15. Ever stop to think, and forget to start again? 16. Being 'over the hill' is much better than being under it! 17. Wrinkled Was NOT One of the Things I Wanted to Be When I Grew up! 18. Procrastinate Now! 19. I Have a Degree in Liberal Arts; Do You Want Fries With That? 20. A hangover is the wrath of grapes. 21..A journey of a thousand miles must, begin with a cash advance. 22. Stupidity is not a handicap. Park elsewhere! 23. He who dies with the most toys, is nonetheless DEAD. 24. A picture is worth a thousand words, but it uses up three thousand times the memory. 25. Ham and eggs...A day's work for a chicken, a lifetime commitment for a pig. 26. The trouble with life is there's no background music. 27 .The original point and click interface was a Smith & Wesson. 28 .I smile because I don't know what the heck is going on.
  25. Now's a good time, it will only get more hectic in the next month. And I sent some more money through PayPal yesterday. I know you don't want a profit, Eric, but that does not mean you can not have a small cushion, either.
×
×
  • Create New...