schirallicpa

It's kind of a mess up family. My client has taken in her nieces because her sister has some mental issues. When she went to collect her info this Fed, she could not find the youngest girls SS card, and had to go thru the trouble of getting another one for her. Finally she got it Thursday and brought it in so we could get her return e-filed. On Friday the efile rejected because that SS # had been used on someone else's return. My client thinks she knows who (another relative) and thinks he had stolen the SS card to begin with and that's why she could not find it in February. So now the question is, how do we pursue this?

new client. All the good ones come in late in the season. Filing old returns. Has not filed 13 - 16. Self employed "project manager" whatever the heck that is. Has residence in NY, has farm in NY, and since 2014 has wife in NY. However, in 2011 he accepted contract work in North Carolina. Was supposed to be an 6-8 month gig. Then they hired him again, another 6-8 months, and again, and again. So supposedly he never knew if he could plan on being down there for long term, or if after each contract ended he was done. He went home to NY once or twice a month to tend to personal stuff. He does not have a home office. The company he was contracted with was only in NC, not in NY at all. He rented a small house in NC. He actually did a really good job at keeping track of expenses right down to stamps bought, and burger king whoopers. He did this thru mid 2015 and then took a regular job in NY. Of course, he's asking me if he can just take per diem for all this, since it would be a lot more than his house rent and whoopers. I'm a little nervous about where is tax home is. Can I take per diem for lodging? Can we take per diem for food? And can I take the travel back and forth from NY to NC? How much can I charge for this one?

We send our children to school to learn terrific geometry problems, and solve horrific stats problems. We make sure they take sciences that they are not interested in, fill their calendar with Spanish classes they will never use, and make sure they have at least 2 "arts" to graduate, or something dumb like that. But no one teaches a child about basic cooking skills, how to keep a checkbook, what interest on credit cards looks like, the implications of student loans, and especially income tax and how to fill out a W4. It is a huge problem in our schools, and we continue to ignore basic stuff in lieu of math - that personally I cannot figure out why they need it these days after they learn the basics! We have computers! I've done a few amends myself. Grumble mumble...grumble mumble.....It's been a very long week.

Thank you Gail, jasdlm, I think that is where I was leaning. Certainly no one is trying to cook any books. I just had not come across this situation before, and since it is a large amount of money, the matching issue swatted me in the face. Yes - I will post again if I hear of a notice - however, I do not know the contributor and I suspect he would be the recipient, not my client the non-profit.

Nonprofit received very large contribution in early 2017. But the contributor had written the check on Dec 31, to take the deduction. When the NP wrote him a very nice letter thanking him for the contribution, they dated the contribution for the 31st to support his taking the 2016 deduction. But - they did not know it was coming, and their books record the money as 2017 income. Not a problem, until I get to the schedule B. If I put him on Sch B with that large contribution, his amount alone will exceed the total revenue for 2016. So that sticks out like a sore thumb. But if I put the lesser amount that was received in 2016 will there be possibility of mismatch later on if his return gets pulled? Can I just put the lower amount, and then put an explanation on schedule O? Or should I include the income on the 2016 990 as an in-transit receivable - even though it was an unknown.......I don't like that idea......

but I posted the convoy rubberduck song

Rubberduck! (You did see my earlier trucker question.......)

The camera is spanning down the street trying to capture the feel for the area, the young men hanging around doing nothing, the run down buildings, while the reporter is talking of the huge problem they are having in this particular area with drugs. I thought it was kinda funny when the Jackson-Hewitt office was right there in the mist of it all. "come here and we'll send your refund right to your supplier". No - of course it didn't really say that, but jeepers creepers don't the politicians ever catch on to the the whole EIC scam? Remarkably the drug problem increases in the spring. Gee-golly. Federally subsidized drug use.

My client qualifies for a moving expense as he had to move from PA to NY to accept a new job. The 3903 info automatically fills in on the pa forms. I'm thinking that he should not get a benefit in pa since he moved out of pa. But my expertise is limited on PA. Any experts out there????

Rubberduck.

As I recall, the over-the-road trucker can take meals per diem @ 80% but cannot take the lodging per diem - that is only actual expense. Does that sound right?

i didn't think there should be any prior period adjustment. So I will have client fix that and we will record properly. Thanks for the responses. Sometimes you just get tired of thinking I think...........

And Sec 179 not used, for that matter. Client has significant NOL that I believe he can continue to carry. (Wasn't that Trump's method of avoiding tax?) But does it matter what type of bankruptcy they use? And should I maximize 179 and let that carry forward? That doesn't seem right at all since he will be abandoning the property and allowing the bank to take it back. Including equipment that he just purchased this past year. But, if NOL stays, can 179?

Every time I have used insolvency, the IRS has written back asking for a copy of the insolvency worksheet in the publication. So you might want to keep that handy.

try having farmer clients............

The Taxpayer - based on what attorney told him about 5 years ago - recorded a liability. I agreed with it - it was very probable that it would happen. We estimated that he would have to pay $25000. Debit expense, credit liability in 2011. Case was tied up in state of NY for years and when settled my client will get money back, and will not owe as we originally all thought. So now we think there should be a receivable on the books in the amount of 75000, not a liability. So client posted an entry to debit the liability for 25000 to take it off the books, and credits retained earnings - prior period adjustment. I don't like messing with retained earnings, partly because of some other HUD reporting we will have to do. Makes things messy. So if we are going to record the receivable, can't I debit recievable for 75000, debit liabiltiy 25000, and credit the expense for 100000. (of course, client is trying to avoid putting that 25000 into this year and just wants to bury in RE.) I am wondering if making it a prior period entry even makes sense. Wouldn't that mean I should amend that old tax return? Yuk. any thoughts?

I know - I know - I'm asking the obvious. Thank you!!!

the 1099INT is in child's SS#. She has other w2 income and is filing a return, but is a dependent. She has ed expenses. The 1099INT reports savings bond interest from series EE that was used for books, and tuition. So I initially have this on her return, but when i look at 8815 instructions, it seems that maybe she does not qualify. Which is an utter mystery to me. Don't most parents and grandparents put bonds in the child's name? Isn't that the whole point - so the kids can use it. U.S. Savings Bonds That Qualify for Exclusion To qualify for the exclusion, the bonds must be series EE or I U.S. savings bonds issued after 1989 in your name, or, if you are married, they may be issued in your name and your spouse’s name. Also, you must have been age 24 or older before the bonds were issued. A bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. Can someone tell me if I have just missed the boat here?

cost is recorded at what was actually given up or paid. dealer incentives are not considered. if he paid cash of 28995, that's what you record as cost basis. Now in a trade-in, have to consider the book value of what he gave up, plus cash that he paid.

Box 3

I have said from the beginning - the tax return and the health care insurance should have nothing to do with each other. Now - I have (accidentally) filed a return with out the box checked for my own minor daughter who is my dependent. I see you get a message back with your acceptance. This to me is very sticky icky stuff and I am worried about possible ramifications. Make sure that liability insurance is paid up!

I am annoyed with the pop ups and will try these suggestions. Starting to feel like turbo tax??????

I may have it, and even the super secret codes. Email me if you are unsuccessful getting it from ATX. [email protected]

I tried hitting the "search internet" tab and now I cannot get the little bar to close in my return.