Pacun

If the college participates on the financial aid program provided by the department of education AND she paid for tuition (or got a loan), she could qualify for AOC.

Blozanor, you need to report this on line 21 and enter something like "1099-misc issued by mistake. Prize won not related to self-employment" I always try to squeeze as much information as it can be shown on 1040 line 21. This 1099 was like a lotto winning but line 21 is the perfect place.

On your short posting, you used the word "repair" twice, so I would expense it.

I am sorry. Trust me.... I know that first hand and that's why I love this forum, I always ask questions and some of them are simple questions. I think Jainen and I approached your question from all angles.

Technically yes. No form is also good since workers should keep track of their income. A form is just a paper with no authority as Jainen stated on another post. Your 20 old client worked very slow. Maybe he worked as slow as a retired person and that's why he got that 1099-R.

I don't think your first posting was a stupid question. Always quote when directly answering.

This is the correct way of doing business. Most likely the boys got a W-9 prior to being paid. They ignore it and the accountant said "withhold and issue a 1099 with no SS#". That's the way you do it when you pay someone outside the US who doens't have a SS# or ITIN. That's required by the IRS and from the accountant's point of view, he is done with it. Why will they correct the 1099 at tax time when they are busy correcting their own mistakes? Remember that the mistake could be from the boys.

Elfling had all the information in front of him and he knows the situation better than all of us. He made the calculations with real numbers and provided his professional assessment of the situation.

This is a beautiful answer and to the point. During the interview process we will find a lot of information on the situation. That's brings me to a rebuttal point I have to make to one of Jainen’s comments on another post. The preparer who has the information has to decide where to report the information. You have to do a cost/benefit analysis and a materiality check with the information. There are times when an employee comes with a 1099-misc and you know for fact that they are employees. You explain to the tax payer the situation. When they are still employed by the 1099 issuer, most of the time they swallow the SE taxes. I think at that point, everybody will be happy. The IRS will collect its money, the employer will get away with something. The Taxpayer will keep his job. The tax preparer will not lose a client or will not cause his client to lose his job. When the results are inmaterial, you can put it anywhere. When the results affect your client (after you cost/benefit analysis), you have to enter it correctly and answer any letters from the IRS. This is what I mean: If someone won a taxable contest for $350 and gets a 1099-misc with that amount on line 7, I would file a schedule C if that's the only "self-employed" income they have. I had a 1099-misc box 7 that was going to cost my client more than 1k in SE taxes, I added it to line 21 and I am expecting a letter from the IRS. This was a scholarship paid by my client's employer to my client’s son.

Because you feel more confortable with a brand, price and services. I would say that we stick to a particular brand the same way some clients stick to us.

AND...if you want him to retire a millionaire, ask parents to open a ROTH IRA for him and leave that money for 50 years. Do it for 4 years and he will retire a millionaire ALMOST for sure. What if the market crash? so what, he will loose his 4 year income while he was in school and without any responsibility.

Correct. Confusion alert... I used "file" and Don used "prepare". File and prepare are the same thing. This morning I feel like Jainen.

You need to register prior to efiling. YOu don't have to pay anything if you file less than 10 returns. CPAs, attorneys and EAs don't have to register.

PC mover is good for virtual machines but not when you are upgrading to a very good OS such as Windows 7. Why will you move your old hardwood floor when you are building a house that comes with marble floors?

By this time, all major software are compatible with 64bit OS. This is what you do. You keep your old computers with your old programs and buy the greatest and latest and install the previous year and the current year. 98% of your work is from last year and current year. No problems with 64bit OS at this point since they have been here for a while.

http://configure.us.dell.com/dellstore/config.aspx?oc=bw2z1350&c=us&l=en&s=bsd&cs=04&model_id=precision-t3500

Schedule E will force SE if entered correctly AND provided you don't have any passive losses. Keep in mind that the company needs to pay payroll taxes (SUTA, FUTA) and you will avoid paying those taxes with your "creativity", which is not correct.

You mean that she will have to check all 1099-Misc as corrected and that will make the new 1096 as corrected since form 1096 is just a cover sheet?

If you register a corporation in one state and then you register it in another state because you want to start getting contracts on that new state, do you have to file a return with the new state even if you didn't make any money in the new state? States involved are DC and MD. MD is home and we are filing. I know each state is different but any info is appreciated.

IRS tells Fairfax medical marijuana dispensary it owes millions in unpaid taxes The Internal Revenue Service has notified the Marin Alliance for Medical Marijuana in Fairfax that it owes millions of dollars in unpaid back taxes, according to the alliance's founder and director, Lynnette Shaw. Shaw said the IRS audited the alliance's tax returns for 2008 and 2009 and disallowed all of its business deductions. She said that although dispensaries throughout the state are being audited by the IRS, the alliance is the first to be told it can't deduct business expenses. "Every dispensary in the nation, past, present and future is dead if this is upheld," Shaw said. Shaw would not disclose the exact amount she is being ordered to pay but said, "It's a staggering sum, millions and millions." She is also negotiating with the state Board of Equalization regarding sales tax that was not paid in 2005 and 2006. Shaw said the IRS disallowed her deductions — for buying marijuana, hiring employees, securing office space and more — based on section 280E of the federal tax code, which states that no deduction shall be allowed for any business trafficking in controlled substances. Under federal law, marijuana is classified as a schedule I controlled substance, a category of drugs not considered legitimate for medical use — despite voters' 1996 approval of Proposition 215, which legalized the use of marijuana for medical purposes in California.

Have you opened a regular PDF with the new Reader?

This is an excellent idea. We could have a rainbow when we go to efile manager and that would also refresh our day.

Isn't that instruction lovely? What do you call someone who is taking between half and one credit less than full time?

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LUCHO This is for you.