PapaJoe

Isn't Sundry the first day of the week?

You could type in "Philadelphia". I have to do that a lot for local tax jurisdictions in Alabama.

Sounds almost like the client I had a few years back. He brought in a copy of his QuickBooks where he had entered transactions for the year. The P & L had two lines: income and expense.

Is Catch 62 just Catch 22 after adjusting for inflation?

You need to go home and get some rest.

Handled properly, the spoilage gets deducted only once. For tax purposes it does not matter (much) whether it is accounted for separately or just adjusted through COGS. However, for accounting purposes it is desirable to separately account for spoilage so the owner or management knows how much food is being thrown away (or stolen by employees). It can make a difference in actions taken by management to control costs.

Agree with KC if it was a monthly payout. If it was a lump sum, wouldn't it be taxed in the state the client was living in when it was received?

He doesn't have to name the client. He just needs to let his per diem employer know that a client has approached him and discuss it from there in general terms.

If there's tax withheld I always attach a copy to the return.

IIRC, costs associated with receiving non-taxable income are not deductible.

That's why I buy my remanufactured cartridges from a local supplier. If I have a problem with one of their products, I just drive down the street and take it back to exchange for a new one. By the way, I've only had one bad cartridge from them in about six or so years I've been doing business with them.

Don't forget Space Balls.

Kinda early for lunch, ain't it? Of course, a pickle as a mid morning snack wouldn't be bad.

I fell out of my chair laughing. Now I'm ROTFLMAO.

Guess all the folks from Caribou, ME would feel right at home in sunny Florida.

Joel, The reason I'm an ATX user today is because I got tired of paying through the nose for Turbotax pro which was (basically) the same software Intuit sold to my clients for $39.95 so they could do their own taxes.

From my experience, it will take a month to six weeks before you receive an acknowledgement that the IRS has received your form, and three to six months before you will hear anything else from them.

From Pub 15 "Payments for the services of a child under age 18 who works for his or her parent in a trade or business are not subject to social security and medicare taxes if the trade or business is a sole proprietorship or a partnership in which EACH PARTNER is a parent of the child." If one partner is Grandpa, then the child is subject to employment taxes.

Man, I can't even imagine listening to music on hold for 9 hours.

I'm guessing that he means can you find out from the IRS website how much a client paid in estimated taxes for the year.

Have you ever thought about moving south? It was 14 above here in Alabama this morning.

It's never too late. Music is a great hobby.

Also, the broker, as a shareholder/employee of the S-Corp should be drawing a PAYCHECK from the company. There has been plenty of discussion on this board regarding S-Corp salaries.

Thank you for the birthday wishes. I've already had a bunch of birthdays, and I am looking forward to many more. I just wish tax season didn't follow so closely behind!

Tell that to John Force.