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Everything posted by kcjenkins
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After their father passed away, these two brothers formed a bond stronger than ever. When the oldest one returned home from duty overseas, their reunion proved just how strong a brother’s bond can be.
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That should be the first thing you see when that form opens,
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I agree with those who say 'no', this is not a 'donation' because it is obviously for the benefit of the t/p's child.
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Since their own rules say it is not allowed, the IRS should care.
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Unless the others' are using accrual and reported the income already, they can't deduct the 'loss'. But we all know that some preparers, rather than argue about it, let their clients 'think' that they deducted something that they did not really do. That could be why she was told that. Then there are the clients who just ASSUME that whatever they give you, you take. Surely we've all had a few of those, too.
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A copy should be sent to the IRS, with a reference to http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/IMRS-Monthly-Overview-October-2012
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Bar Review Course Deductible to get Licensed in 2nd State?
kcjenkins replied to jasdlm's topic in General Chat
Yes, it does not qualify her for a new profession, just for that particular job in the same profession. -
Good business decision, I'm glad it worked out well.
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Realtor, for sure, closely followed by Brokers, the bankers. Hair dressers and barbers are not nearly as bad, because people do not take them as authorities, like they do Realtors, brokers, and bankers.
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Well, it would be reasonable to treat the payoff as an addition to basis, or as an expense of sale. Ditto the legal fee. I would include it in the sales expense rather than Sch A. The 2K is an Executrix fee, IMHO, so that's how I'd report it.
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Probably a lot more of them do than you ever know, now that so many sources offer you 'free' versions. I know my credit union does. But given that fact, it CAN be a good marketing tool FOR YOU, if you deal with it correctly, if they bring it up. NEVER ACT DEFENSIVE. SMILE and explain that a software program can take information given and put it into a form, but it can not THINK, and it can not chose the BEST OPTION where there is more than one possible choice, etc. That is why smart people use professional advice rather than trying to learn enough about the tax code to do their own return, if they have any complications in their financial life. Showing them why 'their' result was wrong just builds their trust in you.
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Warning-Don't Wish For Something-You May Get It
kcjenkins replied to MsTabbyKats's topic in General Chat
THAT WOULD BE TELLING.......... OK,, I'll tell. sherv.net -
How about the ones who just turn around and go back?
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Can you wire his chair so you can push a button when he does it and hr gets a SMALL shock?
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Of course, having an office in your home is part of the problem, JB, but clearly, those clients lack a basic understanding of simple good manners. I'd suggest you meet such a situation with "I will be happy to re-schedule your appointment, I don't want to have to charge you for extra time." Be pleasant but firm. You are 'at work' even if you are in your home.
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The employer clearly misunderstood the rules on paying a "per diem" to their drivers. It's a win-win to long-haul drivers and their employers, but does not apply to local drivers, unless the driver supplies the truck.
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Warning-Don't Wish For Something-You May Get It
kcjenkins replied to MsTabbyKats's topic in General Chat
Way to go, Jack! -
http://www.wimp.com/janitorrevenge/ After a bad snow day, a janitor decides to get some light revenge on his work colleagues by shoveling the snow in a funny way. Since the snow is too high to walk over, people have to use the shoveled path the janitor made.
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The point is that they are trying to find a way to take it now, Can't, but don't blame them for asking.
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Probably because they have other income they want to shield with the deduction. Time Value of Money.
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http://www.youtube.com/watch?feature=player_embedded&v=dg4we04shbo
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imjulier makes a good point, they may indeed have mailed them to the subs/vendors, since without the SSA address they would not even know where to mail them to the feds. And Jack is right, unless he included the 1096, SSA would not process them. Of course, he probably had a copy of that too. That is why I always used a red "FILE COPY" stamp on the copies I gave clients.