ILLMAS

“Don’t steal, the government does not accept the competition.” Unknown

Hello everyone, I'm having trouble reconciling Schedule M-3 in the tax software after amending a Form 1120S. I’ve got it reconciled on paper, but the software isn’t lining up. Is anyone available to help take a look? I can PM the numbers. Thanks!

I also received the same letter today. I wanted to inform you that I spoke with an agent approximately two weeks ago about my account, and I was assured that it had been renewed and that my new card would be arriving soon. In fact, the card arrived last week.

Anyone heard from Jack from Ohio? It’s been a couple of years I haven’t seen him on the forum.

What did they say when you called them?

How about entering the FEIN as SS#, that works.

I learned about the Wayfair case a couple of years ago and many states are going after businesses to see what they can collect.

Someone also recommended the beekeeper.

Just out curiosity @Christian how old was your computer? I retired my Dell XPS I bought in 2019 due to slowness and the fan turning on out of the blue at full speed.

Thanks for sharing, I have the same issue for 2022 & 2023, I will use their 2024 PIN.

If I may recommend try going digital, I say 95% of my clients get digital copies and the other 5% get a print out. Someone here recommend Verifyle secure portal and I've been happy with it.

Thank you all for your contributions. I would like to clarify that the suits in question are actually western wear, not technically cowboy suits. However, as city slicker, we do not perceive a significant distinction between the two. In fact, I personally owned cowboy boots during the 1990s when they were a fashionable trend.

Agreed, these are cowboy suits that were fashionable in the 90's and over the last 30 years he sells one here and there, but I will make that suggestion. Thanks

I have a client who sold at a swap meet or flea market for many years. In 2024, he decided to close his shop (no sales in 2024) and was left with approximately $100K in unsold inventory. Additionally, he inherited a property along with his siblings back in 2011, and they all decided to sell the property in 2024. The step-up basis is very low, meaning his portion of the sale results in almost a 100% gain. My question is: Can he write off the unsold inventory to offset part of the gain from the property sale? The best option for the unsold inventory would be donating it to Goodwill or Salvation Army. Thanks!

I have a client that moved to NY (Bronx) and had state and local (NYC) taxes withheld as part-time resident, I have answered questions on page 1 of form IT-203 however the NYC taxes are being refunded. I have an understanding NYC taxes you if you work there, if you work remotely etc... I'm I missing something like having to file NYC tax return or TP is not subject to the tax due to not living in the City, any guidance would be appreciated. Thank you,