Roberts

When I locked my credit account at Equifax they gave me an 8 digit code to unlock it later. Woops, what they gave me was the first 8 digits of what is actually a 10 digit code.

Is the son reporting the income on his tax return? I would deem the expense associated with being a Power of Attorney to be comparable to legal fees which aren't deductible.

A capital loss will pass through to the beneficiaries and the yearly limit applies. (I assume that's still true) My issue is how did you value the note at the time of death?

As for the 1099's issued in her SS for hiking work, yes they can go onto the Schedule C. That's rather normal. You enter the 1099 and attribute it to the Sch C and the IRS will easily see it. I have a farm rental on a Schedule C. It's not real clean and obviously not preferred but I don't think it's horrific. The previous preparer did it that way but you can also change it. Thing is if it's rental - I'm not sure it really makes a big difference unless they are showing a loss. I agree with you that the 1099 for the "non profit" is also to go on its own Sch C. I do hate doing non-profits. Do you need to fill out a special return for the non-profit or is someone else doing that?

I do my required hours in a quick / cheap manner right after tax season. Many outlets sell the CE, not the training itself so if you don't need the CE credits, it's free. The IRS itself gives away a TON of free stuff if you don't need to get the CE credits. Our local bar association, CPA firms and university do the same thing. University of Missouri puts on a farm / tax seminar. Everyone is sleeping after lunch and they have a break half way through the afternoon where you are handed out your little CE sheet and announced you are given the credit. More than half the participants skiped the last 90 minutes the one year I attended.

I suspect if we routinely took our CPE in a classroom setting we wouldn't wonder about these things. We'd also just "know".

While this may technically be wrong, it's how I would do it. Just document everything in your records so that you don't forget the details (I'd forget in 18 months) if the IRS ever wants clarification.

I plan on having a progression retirement plan like this. In about 5 years I'll start taking Friday afternoon's off. I've noticed that if I leave at noon on Friday it feels like a 3 day weekend. A lot of times I have lunch with friends on Friday so it would be a nice transition. Then I'll shift to taking another 1/2 day per week when I turn 60. We are moving into a condo in about 3 weeks. With the selling period of our house I expect to maybe have to mow the yard 5 more times at most in my life!!!! No more leaves!!!

I was going on an extended International vacation / work from another location type thing and paid a bunch of corporate bills for the next 3 months. No problem I do it routinely with tons of companies. The document storage company couldn't comprehend it. When month 2 came around they sent me a refund for the extra 2 months paid and the very same week they mailed me a bill. The third month comes around I now have two bills and a notice that I'm late more than 30 days on the first one. Before I get in the office they are calling and threatening co-workers for not paying a bill that is now 40 days late. When I get back I send them a check for everything owed (which is now 3 months of bills). They apply the money only to one of the bills outstanding and mail me back my over payment and at the same time demand I make a payment on our outstanding bill owed.

Trying to tell a spender that they should be a saver is just whistling in the wind. Giving a spender financial advise as if they are a saver can be very dangerous.

How much of their AMT tax bill was just a recapture of their deduction for taxes paid? I have many clients who have been subject to the AMT and it is 100% a recapture of the taxes paid that they deducted on the Sch A. I don't see the rules change having a significant impact on their taxes.

Doesn't the AMT already limit SALT deductions for most high tax payers? Yet nobody complains about that.

The IRS system insists I should be a semi-weekly depositor but by their own rules and that of the IRS person on the phone I qualify for monthly. Since we used to be a semi-weekly I just go ahead and pay it semi-weekly now. During tax season I missed a semi-weekly payment (made it at the end of the month) and they sent me a letter and a penalty.

If it's only dividends, interest and capital gains running through the LLC, why do you feel they are subject to SE tax?

In reality my state is pretty stingy on alimony deals so they can be rather rare. Modifications are exceptionally rare and almost always involve one of the exes being physically disabled. I would think this rule is going to make modifications even more rare. After overcoming the tax increase and the attorney fees, the modification is going to have to be VERY substantial.

As a Certified Divorce Financial Analyst I LOVE those!!!!

Missouri turned a 2 page tax return into 5 pages. It's naturally progressive to turn a 2-3 page federal return into 5-8 smaller pages.

Alimony deals entered into after Dec 31, 2018 will be taxed the same as child support. The payer will be taxed on what they pay, the receiver will not pay tax on what they receive. This is not retroactive to previously entered into agreements.

eServices is a complete mess. They should shift to a Citrix system or something similar. The system they have with all the hoops you have to jump through really isn't all that safe. At least my password doesn't keep expiring.

Yep, get a police report.

Doesn't an ARM automatically reset? Only one I had did but maybe they don't on commercial. Balloon makes sense.

I don't even know what you mean that a mortgage expired. How much work is required on your behalf to meet what the banker is asking? If it's a valuable client, I go out of my way to help them regardless of who's fault it is. Just because the banker screwed up doesn't mean the client isn't any less in harms way and your help would be greatly appreciated. You can send them a bill if it's a significant amount of work on your behalf.

Of all the outrage over taxes by the public - I've never understood why the S-Corp is allowed the way most operate under it.

After reading in the back of the subpoena that a bill was expected - I did away with the discount offer! Thought mentality of people are different. I was fine with $.59 per page for a relative of a partner of my firm. That partner declared he's going to send him an additional bill for 3x that amount.

I spoke with an independent third party attorney who said it's basically the honor system. He said to include a bill and hope they pay it because it's not coming out of their pocket book. I don't see a state figure but do see one for medical records at $.59 per page. I like the 25% discount idea - don't know why I didn't think of that. I will 100% include an additional postage fee.