Dan

I think HP printers are the best. I would like to have a HP laser printer if it wasn't for the cost. I use a HP Officejet Pro L7680 which is an ink jet printer.

Thanks to those that have responded to my question. The IRS also told me that you get to determine how much of your EFI you put on line 2 of Schedule J, as long as it's not more than the total on Line 1. The remainder of Line 1, if any, would be taxed at the 2007 rates. So your still paying tax on all the taxable income. The amount you elect to put on Line 2 would then be taxed averaging the amounts for previous years, which if those previous years had lower income, could result in paying less tax overall.

:) Thanks to those that have responded to my question.

Thanks KC for responding. Are you saying that you can just pick a number out of thin air and enter it into line 2 on the schedule J form? The maximum amount is $59,165. If I enter $35,000 in line 2, there is a savings of $2338. Can you do that? To those that see this topic, there is no other income except what is on the Schedule F form and 1/2 of self-employment tax. Thanks for responding.

My Question: How do you go about obtaining the FEIN from the state's registry of the LLC's in the State of Kansas? What is the www. etc you would enter to look up something in Kansas. I also have the problem of getting a W-9 from one that has an LLC. Thanks

For me anyway, it's rather tortured leap of imagination to go from the scenario in the original post to "a landlord who obviously hides income from the IRS." All the landlord did is to balk at what he believed to be an unnecessary procedure, and we're ready to convict him of tax fraud.

I know how folks love to cite the Internal Revenue Code, so here it is:

Section 6041:

(a) Payments of $600 or more

All persons engaged in a trade or business and making payment in

the course of such trade or business to another person, of rent...

In the original post, the rent payments are to be made to an LLC, not a person. The lessee doesn't know whether the LLC is a disregarded entity and so should require a 1099. The vehicle for determining this is the new W-9 which allows the responder to specify the type of LLC. Unless it's an LLC being taxed as an individual, no 1099 would be required. (My guess is that a landlord in the business of renting for years is likely not a disregarded LLC and has elected S-Corp status for the LLC, but my speculation is irrelevant.)

Here are the options that I see:

(1) Pay the lease as agreed, forget about the 1099, and butt out of other people's taxes.

(2) Mail the landlord a W-9 to provide him with the opportunity at least to indicate whether the LLC is a disregarded entity and hence should receive a 1099 from the lessee. The landlord will likely ignore the W-9, but the lessee then has a record of having tried.

(3) Obtain the FEIN from the state's registry of corporations/LLCs/etc, and issue a 1099. Just don't expect to get any maintenance work done on your office.

(4) Break the lease and move. Of course, a landlord's failure to provide a W-9 is not grounds to sever a lease, so you'll have to pay the penalties for breaking the lease.

[Hint: The correct answer is Option (1).]

Question: How do you figure elected farm income to use on Schedule J line 2 when the instructions say: "However, you do not have to include all of your taxable income from farming...on line 2? When reading line 2 instructins it says to include taxable income from farming (Schedule F) and also include the deduction for 1/2 of self-employment tax attributable to farming. There are other items mentioned but these are the only two that apply to my question. Where are the instructions to this however? Hope someone out there knows the answer. Thanks :)

It would be nice to know what percentage I can defer if it is less than 100%

Thanks!

KC

Do you know the answer to my question? What percentage can one defer to next year?

Question: I have a question about how much one can postpone until the following year? This question is found in Publication 225 and the instructions for Schedule F (lines 8a through 8d) In the instructions for Schedule F it says "generally, if you elect to defer any eligible crop insurance proceeds, you must defer all such crop insurance proceeds." Is there anything out there that says you may defer just some of the proceeds. Must you defer all or nothing? What does the word "generally" mean? Thanks for your reponse. Dan

Question: I have a question about how much one can postpone until the following year? This question is found in Publication 225 and the instructions for Schedule F (lines 8a through 8d) In the instructions for Schedule F it says "generally, if you elect to defer any eligible crop insurance proceeds, you must defer all such crop insurance proceeds." Is there anything out there that says you may defer just some of the proceeds. Must you defer all or nothing? What does the word "generally" mean? Thanks for your reponse. Dan :)

ATX sent out a paper with some help on this matter.

1. Go to MYATX.com and click the Need Help? link on the MyATX login screen.

2. On the next screen, click ATX Upgrade. You will be guided through the process of obtaining your Client ID and updating your login credentials. To complete this process you will need your login information, that is, your email address and password.

Please write down your Client ID because you and your staff will need it every time you log in! Each ATX customer has been assigned a unique Client ID. This number is different from your previous customer number. If you have any questions please call: 1-800-638-8291.

The new login procedure requires three items:

1. Your client ID

2. Your user name

3. Your password

When you follow the Need Help? link on the login page you will be guided step-by-step though obtaining your Client ID, creating a new user name for yourself and creating a new password. Each person currently registered to use MyAtx.com can do this.

I hope this helps. Dan

Has anyone been able to access their MyAtx on the ATX website. I have been trying for a few hours now and keep getting an error.