ILLMAS

I received a package about two weeks ago, I have not opened it yet because the package felt like books.

Even before Trump "build the wall" slogan there was no way your client spouse would be a candidate for papers as you feared, it's easier to buy an assault rifle then an immigration judge to give the okay.

State of IL went after funeral homes for not itemizing the receipts, apparently some funeral homes were charging over $2K for clothing and accessories and they were not collecting sales tax.

No worries, I am jokester myself. Did you hear about the man that wanted to stop talking to his wife? He loaned her money and never heard back from her.

Illigitimas, did you mean to say illegitimate

I've been on this forum for close to 10 years now, and it seems most don't touch payroll preparation with a 10-ft pole and other charge a fee that makes it worth it. For those that charge a hefty fee, what is the minimum you are willing to charge for a small employee company?

TP is a property manager, no vehicle is provided by employer, manages 15+ building with over 250 units has to drive back and forth to pick up keys from the office and is probably unhappy because he is on call after hours for emergencies.

I believe someone here posted a case about a CPA or accountant that argued his client was a had a substantial increase in salary every year after his client was fined for not having a reasonable salary. If I remember, the person was making 20K as supposed to $200K, so the accountant would significantly increase the salary by $5K a year, that is a huge increase for someone making $20k lol.

If they were to get an VPN from let's say a cousin that lives in the U.S, would this be a work around?

If a tax payer does not have a mileage log, but has records of oil changes that have the mileage recorded, would that be sufficient for the IRS if they are requesting proof?

Yes, there was a partial distribution.

Thanks John, in this case the individual has a very small salary from another business, they are just pocketing the profits or buying more inventory from what I can tell and they are not receiving a compensation at all.

I seen a tax return prepared by another tax preparer and that has left me scratching the little hair I have left on my head. Basic details 1120S (LLC), one K-1 Owner buys, rehabs property and sells right away Property are reported as inventory Profits are passed to shareholder as ordinary income Here is my concern, since I have not dealt with a client in this situation before: If they are in the business of buying/fixing/selling homes, shouldn't the profits be subject to SE taxes? I did not see it (SE tax) when I reviewed the shareholder personal tax return, again I have not had dealt with a client like this before and just want to make sure to say the return was prepared correctly or incorrectly and it should be amended. Thanks

Can they be treated as inventory?

So what do you think about government employees that connect via wireless (hotspot) modems?

Has anybody had a client that failed to take the proper or no deprecation at all, but the IRS recapture it anyway?

Flow-chart please

Scenario: TP decided to renovate a rental unit after the lease expired, the property was rented for three months in 2015, improvements overlapped into 2016 and was finally rented in 2017. Questions 1. Would it be proper to depreciate the property in 2015 for only 25% (3/12), zero in 2016 and whatever percentage applies to months rented in 2017? 2. Same question but for expenses, what is the appropriate thing to do, expense (continue expensing each year) or capitalize (in year placed back in service)? From the IRS Idle Property Continue to claim a deduction for depreciation on property used in your rental activity even if it is temporarily idle (not in use). For example, if you must make repairs after a tenant moves out, you still depreciate the rental property during the time it is not available for rent. Please define temporarily idle? Let's say in this scenario, TP was not in a hurry to have the job completed or to rent it. Thanks

Tooth be told.

I had the same issue and I believe some here mentioned it doesn't work after 4-15-17 date.

Good points, thanks everyone.

@FDNY please make sure you are compensated for your worries.

After working 20+ years for a firm/self-employed and working long hours, that time finally came to an end this past summer, I longer work past 4pm I put myself first, managed to lose weight, spend more time with my family, the only person I baby sit is myself.

Last couple of SS-4 I have prepared, I have received the same message. I usually fax it over and wait until my client receives the acceptance letter.

I also recommend the Fujitsu S1500, it's the best scanner since the invention of whipped cheese in a can. I have a question, can one get a bad ream of paper? I recently bought a whole box of paper at Costco and when I print more then 5 pages it curls up, now if want to scan it, my scanner chews up the paper pretty badly, anyone had this happen to them?