TAXBILLY

The disability pension is eligible for the credit. See the worksheet for line 3a of Schedule M. taxbilly

The monitor is not gettting a signal from the computer. Sounds like a poor connection. I would disconnect and reconnect the cables and make sure they are screwed in at both ends. Then turn off power to both the computer and monitor. If that doesn't solve the problem, open the computer case and verify that the video card is firmly seated. taxbilly

The attorney is the only one that can answer the question as to whether a K-1 will be issued and/or when. taxbilly

http://www.krqe.com/dpps/money/job_news/senate-passes-jobs-bill-jgr_3249887 taxbilly

I try to schedule audits Friday afternoons about 2PM if possible ... weekend coming up, auditor just had lunch and is mellow and ready for the weekend. taxbilly

You're welcome. taxbilly

May you have many more! taxbilly

May you have many more! taxbilly

That was about the pace I was going at. So you don't see your son very much. Not good. You don't relax even one day for four months? Not good. It's a good thing that you are a young man (I'm assuming). taxbilly

>>That said, I work an average of 100 hours per week from the third week in January right through the fifteenth of April because I would rather not extend returns if it is in my power.<< I used to think that way until I ended up in the hospital for six weeks due to physical and mental exhaustion ... not worth it. taxbilly

http://www.lorman.com/newsletters/article.php?article_id=1344&newsletter_id=288&category_id=6&topic=CPA taxbilly

Antivirus Soft is a rogue anti-virus program designed to redirect Internet users to scam security websites. A false alert is shown and you are tricked into downloading this program which is the real virus. taxbilly

Be sure to get a retainer up front or you will be waiting for your money. Seen this type of client too many times. taxbilly

I refer to this PLR for guidance: PLR 8819009 Section 280A -- Business Use of Home Dear * * * This is in reply to your letter of February 10, 1987, and subsequent correspondence in which you request a ruling as to the deductibility of certain expenses incurred in connection with the business use of your home. The facts and representations made are that you and your wife are the sole shareholders in Corporation, which provides engineering and technical consulting services to both private industry and government. The business is highly successful and you devote your full time efforts to the enterprise. You have a part-time employee and engage several independent contractors on an as-needed basis. You recently moved into a new personal residence which consists of approximately x square feet, of which 40 percent is leased to Corporation. The space so leased is used exclusively and on a regular basis by Corporation and is also Corporation's exclusive place of business. Corporation pays you y dollars per year as rental, an amount which includes utilities, maintenance and insurance. You represent that the rental paid is a reasonable amount and is less than Corporation would pay for an equivalent commercial space. Section 280A(a) of the Internal Revenue Code provides that, in the case of a taxpayer who is an individual or an S Corporation, no deduction otherwise allowable shall be allowed with respect to the use of a dwelling unit which is used by the taxpayer during the taxable year as a residence. Section 280A©(1) of the Code provides that subsection (a) shall not apply to any item to the extent such item is allocable to a portion of the dwelling unit which is exclusively used on a regular basis -- (A) as the principal place of business for any trade or business of the taxpayer, (B ) as a place of business which is used by patients, clients, or customers in meeting or dealing with the taxpayer in the normal course of his trade or business, or (C ) in the case of a separate structure which is not attached to the dwelling unit, in connection with the taxpayer's trade or business. In the case of an employee, the preceding sentence shall apply only if the exclusive use referred to in the preceding sentence is for the convenience of his employer. Section 280A(c )(3) of the Code provides that subsection (a) shall not apply to any item which is attributable to the rental of the dwelling unit or portion thereof. Section 280A(c )(8) of the Code, as added by the Tax Reform Act of 1988, states that paragraphs (1) and (3) shall not apply to any item which is attributable to the rental of the dwelling unit (or any portion thereof) by the taxpayer to his employer during any period in which the taxpayer uses the dwelling unit (or portion) in performing services as an employee of the employer. In Senate Report No. 99-313, 1986-3 C.B. Vol. 3, 84, the Committee on Finance in its explanation of the provisions of section 143(B ) of the Tax Reform Act of 1988 states: The bill provides that no home office deduction is allowable by reason of business use where an employee leases a portion of his or her home to the employer. For this purpose, an individual who is an independent contractor is treated as an employee, and the party for whom such individual is performing services is treated as an employer. In the case of a lease that is subject to this rule, no home office deductions are allowed except to the extent that they would be allowable in the absence of any business use (e.g., home mortgage interest expense and real property taxes). Accordingly, on the basis of the explicit language contained in section 280A(c )(6) of the Code, we conclude that you may not deduct any business expenses that are attributable to the rental of a portion of your home to Corporation during any period in which you use the dwelling unit in performing services as an employee of Corporation. Except as ruled above, no opinion is expressed regarding the federal income tax consequences of this transaction under any provision of the Internal Revenue Code. This ruling is directed only to the taxpayer who requested it. Section 6100(j)(3) of the Code provides that it may not be used or cited as precedent. Temporary or final regulations pertaining to one or more of the issues addressed in the ruling have not as yet been adopted. Therefore, this ruling will be modified or revoked by adoption of temporary or final regulations, to the extent the regulations are inconsistent with any conclusion in the ruling. See section 16.04 of Rev. Proc. 87-1 I.R.B. 7, 17, dated January 5, 1987. However, when the criteria in section 16.05 of Rev. Proc. 87-1 are satisfied, a ruling is not revoked or modified retroactively, except in rare or unusual circumstances. taxbilly

Then they are eligible. taxbilly

The automated number is up and running. You will need SS#, Zip Code and Date of Birth. taxbilly

Could you elaborate as to what you mean by a business trust? taxbilly

Did they install the energy items after 12/2/2009? taxbilly

May you have many more! taxbilly

If he owed taxes from a previous year or a federal debt they would have reduced the credit. Wonder why there was no explanation. taxbilly

1)Choose mark all. 2)Go to reports 3)Choose print marked client list. taxbilly

From NSA Newsletter: But You Don’t Understand: Politics IS My Religion An ad hoc group of Ohio clergy has asked the IRS to investigate the C Street Center in Washington, D.C., alleging that it is not a church, but rather a boarding house providing low-cost room and board to members of Congress. In a letter to IRS Commissioner Douglas Shulman, the group challenged the self-proclaimed church's tax-exempt status, voicing concerns about “unconstitutional enmeshment of church and state,” and called on an appropriate Treasury official to begin a church tax inquiry. “As we understand it, C Street Center has no recognized creed or form of worship, no distinct ecclesiastical government, and no formal code of doctrine,” the letter said. “To the best of our knowledge, it is not led by ordained ministers, and its leadership is not selected based on the completion of any prescribed studies for the preparation of ministers. We are not aware of it holding regular religious services that are open to the public, it has no Sunday schools for religious instruction of the young, and it has no distinct religious history.” However, the C Street Center does has a long history of offering apartments to Members of Congress at rates significantly below market near Capitol Hill. The letter named Reps. Zach Wamp (R-Tenn.), Bart Stupak (D-Mich.), and Mike Doyle (D-Pa.); and Sens. John Ensign (R-Nev.), and Tom Coburn (R-Okla.) as current residents. Sens. Jim DeMint (R-S.C.) and Sam Brownback (R-Kan.) were named as former residents, along with several others. Clearly, politics, or perhaps a sweet deal on an apartment, makes strange bedfellows. taxbilly

May you have many more! taxbilly

May you have many more! taxbilly

Whoa!! These are probably Grantor type trusts where you would file the 1041 without K-1s but add a list of items that would be reported on the 1040. Go to ATX, pull up a 1041, mark the upper left box that says Grantor type trust and read the note in red at the center of page 1. Then learn about Grantor type trusts. taxbilly