WITAXLADY

thank you all!

I know but.....

Thank you D ps - address?

ps - I would love to send you some really good cheese for helping at the 11th hour! if you send me your address personally

I have the sales - but the issue was/is when I rollover the capital assets - and now I have this additional FMV or SUB and if I add it to the fixed assets as of 2018 - it shows as short term.. same with 4797 - there is no place for inherited except on the 8949 I worked around it on the 4797 by using the date of purchase with the additional $$ amount of the FMV but that is not really correct Thank you for your time d

that is what I did - and is it stepped up basis or FMV? How do you show that in ATX - separately on the 4797 when sold? d

ahh I think I remembered - sell them and estate "buys" them Thank you, d

ya my hubby sent to me - very nasty1 better I do their payrolls!! d

congratulations as well - Weddings are wonderful and especially past the stress, of family!

Client dies Mar 2018, tax return to be filed, 1040 - part year, - do the assets from the Sch E and Sch F get "sold" to the Estate, 1041? I understand the stepped up basis to the heirs, - just cannot wrap my head around the asset portion of the personal and of course I would like to file 2018 and 2019 together tomorrow and be done! Thank you, D

A number of different different partners and partnerships/LLC's want to join up into one parent company - probably as a S corp They do rental properties, fixer ups - buy and sell So 2 of the individuals want to contribute/transfer their property from their personal into a LLC under this main umbrella. (forming a 4th LC or putting into one of the existing LLC's) Will they sell it? and then pay tax on the gains? have to do an appraisal? Or just a transfer fee? The other 3 LLC's will keep their properties and file under the main S corp operating as multi - businesses/parent company Is that fine? What do you recommend is the best way? Thank you, Darlene , ATX WI

hello - please need clarification so I did the guys taxes.. - a W-2 and rental, stationed over seas then he informs me I got married Dec 31! - so now MFJ, except they are working on a Visa... and we get her wages translated into US dollars... and now he says does it matter she has a daughter... I see that if the duaghter does not have an ITIN by Oct 15 - he cannot claim her? Did I do the spouse correct? Am I correct on the daughter? Thank you, Darlene

SO HOW DOES THE SECOND ein SHOW UP FOR PAYROLL ETC? oops - change numbers? amend reports? change entities? Thank you

tHANK YOU -

My IT guy says 7 works but Microsoft will not have protection for it...

correct - that is owned by them personally - although I think for the $130 initial and $25 each year - I think the building should go into a LLC and then rent it to the operating LLC But now they have 2 facilities and need to show income for loans so is a C Corp best or a S corp? Thank you, D

thank you The LLC elected to be taxed as a S corp and then the S corp formed another LLC under the S corp - so the second...

the law changed - first it went EIC to the highest earner - then it went to choice - unless per above... Makes it easier and smarter... sometimes - Depends if you see it as a scam or as a way to get more income into the household.. I have too many couples Not getting married due to tax refunds... My goal is toget them to marry - assuming they stay together ....

Owner occupied adult care facility is able to receive non taxable monies. So income taxable - = no tax except for minimum soc security credits and IRA Now they are opening a second facility soon. Do they form a S corp to do wages and lessen SE tax, or a C Corp and rent the building to the operating facility? 1 - Need more money for loans and 2 - like always, looking to minimize taxes... Already doing payroll under the LLC - WI, easy to switch over... Thank you, D

LLC forms a S corporation, son forms another LLC as part of the business but all part of the S Corp Now there are 2 EIN's... Can both of these EIN's file under the S corp - of so - how do I show that If not, how would I correct that? Change the second EIN - Of course, payroll was involved Thank you D

yes, I suggested that and lo and behold he did have some self employment income - he did not report! Imagine that - a clergy... and so some of his expenses went there... Thank you - but that is not fair as the 2106 is linked in this case to the SE wait did I say fair?? D

I did a search and cannot find anything that addresses this... So with the 2106 eliminated - that also means the mileage the ministers would take off there, books, etc against their SE earnings is also gone? Meaning the 55,000 miles etc creates an amount due of $2500 instead of a refund of $1,000? Yikes? Any work around? Am I missing something? (I have the earnings/allowance fine) Mileage allowance would not help SE tax but would give them $$ for gas anyway Thank you, D

thank you - she does have Indo income..and thank you for the FBAR note - but I think it is all transferred here - as I have a US bank account every year..

or even simpler is Quicken - that is what we use for most of the businesses and my 2 businesses. I use QB when the client has it and try to get by - buying every 2-3 years. And Medlin is great - but we only use it for payroll D

I do not normally deal with or never - I should say - so US army man married Indonesia lady Dec 2018 - why didn't he wait until Jan??? So from what I read - she needs to get an ITIN and he claims her as a dependent and MFS - loses $2,100 + owes state? She is other? Or he can claim her income? How do I get Indonesian changed to US dollars? and then he can file MFJ? He is calling Wed. It does not pay to wait for a green card? as she has never been to the states? Military discount? for being overseas? Thank you for any input. I am thinking I should send him to military tax filing service? But he and his family have been coming here for 20 years..