RoyDaleOne

I would say either person could claim the children, as a qualifing child. However, does not one have to pay over half of the cost of maintaining the household? Female most likely does not qualifiy as HOH. Who pays for the household?

Does anyone know if I can still e-file extensions for the 2006 program. I am doing an 1120 for 11/30/07 due 2/15/08 and I want to extend. The program locks-up with I try to transmit the e-file extension request. TIA

Could it be, while not stated the driver could not be subject to DOT requirements? A short-haul dump truck driver for example.

Taxit, are you working 12 hours days or more? Do you get to deduct your meals.? No sleep......

See Pub 225 page 51 for a discussion of how to properly report these types of transactions for a farmer.

If you can get the IRS to accept payment of the trust fund portion of the payroll tax and your is not s SP or General Partner them the 100% responsible person penalty can be avoided.

In some States you can elect to be covered by W/C for sole owners. Must have been a mistake of some nature by the sole owner. I would say at least the payment represents medical expense to the owner. Because this was the underlying nature of the transaction given raise to the payment. That is the W/C people paid the medical bill and got reimbursed for the payment. Not that much different from borrowing the money to pay bill.

Amounts on a credit card are actually a loan and should be handled in the year of the charge. It is the same as borrowing the money and paying cash.

A 2007 Form 8863 is available on the IRS web site.

I had the same problem, was on line with atx from 2:00 pm to 8:pm yes six hours. The tech tied into my computer. Now I am somewhat of a computer geek, the program started running completely out of nowhere. The tech did know why. Do you have a network? If so, I suggest shuting down everthing including the net. The only thing I did to my computer system was to turn off a network printer. Sometimes they can be hogs of the net.

Normally, 1099 Misc are based on the checks written by the payor. In all cases this may or may not match the correct reportable income by the payee. 1. If the payee is on the accrual method. 2. If the amount differs because of timing issuses of when the checks are prepared by the payor and when the payee receives the checks. The timing issue can happen at the start of the year and at the end of the year. The system has many flaws. As far as the instructions to Schedule C, if I don't record my income, say by customer, and I have more than one customer, how am I to know whether the 1099 Misc matches my reported income or not? Now, if I have only one customer that is a different story as to knowing id there is a match.

Agree with bulldog, just adding, a long time ago I had the same problem and the IRS computer had the wrong EIN entered somehow. It is the other person's problem to tell the IRS they are wrong and he does not and never did work for your client. If I understand this correctly.

All leasing expenses are amortized over the life of the lease, therefore, unless, the deal is totally south they would get capitalized. Look in the asset entry form for the Code Section if you need it.

Maybe you can used From 1045 Schedule A to check the computation.

See Code Sec 213 and Pub 502 The limit is $50.00 per night per person.

See above.

I am not in the office but I believe it is an ordinary deduction. I will check in the morning if you don't get an answer. The character of the loss flows from the underlining asset not purchased, therefore, a loss on a warehouse not purchased but intended to be used in a trade or business would be an ordinary loss.

Non compete payments is not the sale of anything, it is as stated money paid for the "service" of not competing. Therefore, I think 1040 Page 1 other income is the correct place for this money. You can sell the assets from the depreciation part of the program and answer the questions and it will take of putting the assets sold on the correct schedule.

First, non compete must be include in gross income as ordinary income, it is not subject to SE tax. Goodwill is proably a Section 1231 asset for Form 4797.

You could ask the builder to reissue the 1099 as a zero amount. Why is this transaction subject to 1099 reporting?

The different between an independent contractor and an employee checklist ia available from IRS. Note as I recall there are up to say 15 factors to consider when making this determination. Sorry can't help.

Mine is all CAPS like ADMIN....

The IRS has a worksheet for this. Pub 17. If not for profit you know the rules as outlined.

Does not work as you stated. Be very careful what you advise if anything.

The generally rule is the partnership basis is the partners basis. No setup. Oh, that is adjusted basis...