easytax

Again, THANKS to all, I wondered about this, especially with the possibility of 3115 needs (again, GLAD I had to give those up). Yes, the tool box and some tools that were costly (air guns, etc.) were all 179'd with keeping a list of date, cost, etc. should they ever be sold -- to recoup any gain. Thankfully too is that the ones needing this are all in PA and it works that way for the state and locals too. Just glad my mind still was on track (for this run anyway). Keep enjoying!

Just an aside: On the news they had a segment about kids in car seats being "LESS PROTECTED" when dressed in those "puffy" coats, etc. (straps over clothing; compresses a lot when forced front, etc.) and you get injuries by banging into straps /// where as, if in something like a sweatshirt or light coat the straps are closer to body and hold you closer to seat so there is less travel to hit restraint (seatbelt) so less injury... I mention this because if true for kids, it may be something adults might think about when traveling (driving or riding) since many of use do not take our coats off but jump right in. Especially those wearing "big poofy" Michelin man coats --- I (we all) want those here safe and well, if for nothing else than sharing their knowledge with us. The extra we get from "picking" (happily) on each other is that we all keep thinking and growing --- if we all agree, we would be bored. Except for New England --- let-it-snow, let-it-snow, let-it-snow! One of the benefits of being in a lot .

Agree with that. We do our job, if clients do not do what is required and "choose" the penalty, we can not force them NOR should we have to.

Correct --- the LLC details to OWNER and the owner does taxes for the property. The LLC does their own taxes for income, expenses, etc. too but has "no interest" or mention in building, etc. as it is not theirs. LLC is just managing/agent for owner.

I am wondering why you think she qualifies? She signed the original return (assuming), signed the payment agreement (assuming); so how would she be eligible? It is agreed that there may not be a "loss" to ask, but especially given the IRS need for dollars, I do not see where they would be "understanding" and drop the dollars owed. MRICHMAN333, For the Equitable Relief mentioned, do you think that to "ask" would be improper? I err on the side of asking a lot, rather than assuming I am wrong and "your motivies" are not wrong, you are basically just asking --- can we get this, so IRS should not be able to come back on you for frivolous (can they?).

I am trying to follow --- several questions ---- given JUST the original information and question: would the answer be --NO --- not 2106 but to sch. A? If reading the regs properly 2106 is only if "other items are there too (travel, meals, etc.) but if not then JUST sch. A. If I am incorrect, please let me know as this is what I have been doing. As to things such as the tool box, could/would you not just 179 it and be done --- again just flowing to sch. A. My folks anymore are all employees (yes, mechanics are in a trade but mine are employees not IN BUSINESS per se) and for the items we 179 probably will keep till death; which means long time "out" of any recovery cost (realistically), with most small tools fully expensed in year purchased. Given I have no clients with inventories, etc. and have been spared the 3115 headaches, am I missing something for the couple that we have basically been expensing and 179ing where there is nothing there anymore. Do I need to do something with 3115??? My limited understanding 3115 (sorry did not pay a lot of attention, as I am "out of that part" -- or so I thought) : expense (just like old $100 limit) anything $500 or less. Over the $500 then look at sec 179 use. That 3115 was to "help us" know what was a repair and what was something needing capitalized with some individualized guidelines when breaking down components (such as in a building (electrical system vs. heating vs. plumbing) instead of looking at the building as a whole.. Thanks in advance.

Until they have an accident or get really sick. But then, many will just look for the "program" that will pay those bills for them too. I do not like being told I have too -- on most anything BUT some things I can understand --- car insureance, fire insurance, etc., etc. as it the burden is not only on me but on someone else ---- now if those folks just wanted to NOT be card for, etc. and possibly die ---- but there are "programs" for that too and in some cases --- the government even makes it illegal to chose to die ---- unless by cop maybe === but then the poor officer gets grief ---- usually more from them having to take a life (self incrimination, etc.) even when the "public" takes them to task for doing their duty --- but I am biased due to "pass life". Bottom line, if they can "work" the system and save money --- they are allowed --- but it does not make it right to pass the bill onto others, if it can be prevented. AND NO --- I am not in favor of ACA as current --- some great ideas and some fair "fixes" but NOT done as congress has. (Thant is another discussion and has nothing to do with "politics" just common sense and doing what is best for country, not just to get noticed and have a job.

Lion is correct and since Tom beat me in replying he is too STILL A BUT as there is a big difference between 44K and 20K --- (if they paid 22K in fees for this, we may be in the wrong business). __ BUT -- in this case the numbers do not add up ---If your client exercised for 20K (price he paid) and the stock price when he received the option was 19K, then client has a 1K profit (less exercise fees and other costs) --- now --- even if he sold the stocks the same day --- his basis would be 20K less what he sold for (plus fees, etc.). NOW -- if the stock price was 20K less than the price he paid -- well yes, client has a loss ---/// I would be curious why you would exercise a loser at all? Morgan Stanley should issue a 1099-B too for any transaction.

Is the LLC leasing the property from the owner and then renting it? If not, then as you stated the LLC may only be acting as a rental agent (in some states need a RE license to do that -- unless your own property). If a rental agent it would make sense that the LLC would report to the owner as the owner would need to have information to report on their taxes, etc.. Which means, the owner in either case needs to report something (LLC paying lease payments, etc. OR LLC acting as manager).

Here is the URL for NY that speaks a bit about who does not have to register: http://www.tax.ny.gov/tp/reg/tpregmore.htm Remember they want money when you do (are paid for) ten or more, etc. so they want to track everyone.

Dan, I agree with you and Judy. Earlier I was adamant above filing the 8965 and stated so. In an earlier post, I changed my understanding (just today (actually about 15 min ago) and posted a change. You two are correct. I just needed to re-read (slowly) the 8965 first page of instructions. Sorry for the earlier mis-statement.

Part III with "B" for exemption and (from 8965 inst. pg.12) 　 For each coverage exemption claimed in column a, check the appropriate box or boxes for the months for which the particular exemption applies. If the coverage exemption applies for the full year, check the box in column d and do not check the boxes in

Dan, I stand corrected on the 8965 submission. IF you are not claiming any exemptions, etc. there is no need to file the 8965 -- you would just use the worksheet to figure the penalty, etc. but you do not need to "file" the worksheet. Sorry, I got hung up on "shared resp. pay worksheet" and TOTALLY went brain dead on the bigger question. The instructions if read "slowly" (at least slowly by me) does state no need to file 8965 unless exemptions, etc. Apologies again.

I took a quick look at the 995 package and may try that later this year to see if I can add anything that I do not have now. --- Thanks for suggestion. The PDFill does all I need right now except for an auto find system to make documents PDFillable with me marking the sections. But I saw it somewhere and WILL eventually find it again (note: I have asked PDFill to consider adding this).

Dan, Jack is correct. You (except for as Jack mentioned) always file the 8965. You just do not file the worksheet (which is a separate of the 8965).

I like PDFill, $20.00 at: http://www.pdfill.com/

Read closer --- page 5 of the 8965 instructions - top of page ---- it says USE. I have seen the "not submit" as to the worksheet but you still need to complete the 8965 form. 2014, use the Shared Responsibility Payment Worksheet

This site offers various FREE CPE on numerous subjects. Given, that some of the "presentation" is geared toward you using (buying, etc.) their products; there still is a lot of decent information to be gleaned. The ones I have attended were typically time well spent. NOTE: There are a number of items offered on the 3115 at the registration along with information on this type of subject. 2014 TAX FILING CHALLENGES CREATED BY THE AFFORDABLE CARE ACT Wednesday, February 11, 2015 Wednesday, February 18, 2015 11:00am ET - 10:00am CT - 9:00am MT - 8:00am PT View Details and Registration Info FREE - Earn 1 hour of CPE - This class will sell out! Webinar Description The Affordable Care Act is far from new; it was enacted in 2010, and blessed by the Supreme Court in 2012. Because of the staggered start dates of most of its key provisions however, each year brings new challenges tax advisors must address. Beginning January 1, 2014, three new insurance-based provisions created by the Affordable Care Act became effective: the penalty for failure to carry insurance (the Individual Insurance Mandate), a credit for acquiring insurance on an Exchange (the Premium Tax Credit), and a large penalty that may be assessed on an employer who reimburses employees for the cost of their individual health insurance premiums, a once-common practice that now demands revisiting. In this one-hour seminar, Tony Nitti will address these three issues in detail, alerting tax professionals on what to look for and what to expect during the 2014 tax filing season.

You MUST be angling for a government job --- "for each month" -- since that seems to be how the government might look at things.

Now this is my kind of Marathon ---- I cannot find it on any of my USA listings, where have you seen it --- I like Shawn & Gus but being a guy --- like Julie more --- anyway, when is it on? Thanks.

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Affordability worksheets for the 8965 were added to the ATX form yesterday about 1830 hrs.

Can not speak to the tax aspect but knowing a bit about you from your posts, says you will do what is legally and morally correct. The "feeling bad" on your part is unwarranted --- he knew the requirements about the two years and CHOSE to stay. If he has problems with that, that is not you --- that is was his choice and is between him and the country. Feel proud and well that you are giving him good council ---- regardless of his bad decisions.

JB, One night can mean everything --- if they had married (been pronounced) on December 31 at one minute before midnight, they would be considered 'married" for the entire year. I know this as a personal fact as I married two attorneys at 1 minute after midnight on technically January 1 (I specifically asked and they wanted to be the "first married couple" for that year, rather than the last couple for the previous year). NOTE: I made sure and had the attorney's also research --- as I do not like to do something an attorney can come back on --- say, if the date of marriage, etc. might eventually mean something. If the IRS considers the very last moment of the year as "marriage", would they not consider a few minutes, etc. as "living together" and scuttle your HOH? Therefore --- yes, just one night, moment, etc. can count. MFS or MFJ --- NOT HOH.