RitaB

This is why you can ride elephants.

I like both of these ok. It's the "average Joe" who THINKS he's bright that drives me nuts. You can explain till the cows come home, and you will just get to explain it again next year. And the next.

Another accountant always says, "Zip up your jacket, your heart is falling out." LOL.

Yeah, I think FMV is what a willing buyer would pay. I think if a willing buyer existed I'd sell my stuff for $6,500. This will sound strange, but did they make any cash contributions? I find that the people who most often overstate non-cash contributions are the ones who don't give cash.

You are so right. And who are we to argue with the attorneys in Washington? I had a couple one time looking to buy a business, and they wanted me to review the paperwork the would-be seller gave them. Oh, it was rosy. I told them to ask for the tax return. Not nearly as rosy. Pretty stinky, actually. I explained that if you add back depreciation, these people told IRS they made about 1/3 what they told you. They are either lying to you or IRS, or both. Couple thanked me, bought the business anyway (cause people do what they want to do, have you noticed??), lost money for two years, and went back to their day jobs.

The company is deducting the amount paid to the worker. If it had been an accountable plan, the worker would turn in receipts and get reimbursed, and there would be no 1099-Misc. In this case, the worker deducts the actual expenses. And, yes, the excess after expenses is like a bonus. Pay the SE tax and carry on.

I had one old fart complain about paying $319 to TN on her investment income. That's 6% of the amount over $2500. She said, "The Lord giveth and the Lord taketh away. I should just put the money under the mattress." Yes, I said this: "Well the Lord gave you $7817 this year, and the TN Dept of Revenue took $319 of it. Yeah, I think a mason jar in the back yard would show em both."

That was beautiful.

Yeah, and I hope that Harley Davidson keeps him warm at night now that he is paying his tax bill with his Discover card. I really have no sympathy for people who don't consult us when they come up with these ideas. And I can't wait to see what my retired Chemist, not 59 1/2, decided to do after he DID consult me about taking money out of his IRA. He didn't like what I said, and I'll betcha he took it out anyway. They like to travel. Well, so do I, but I work instead. I'm grouchy.

"But they already held out the penalty." Me: Yes, they held out 20%. Half of that covers the 10% penalty. The other half does not cover the income tax at 25%. I wish people who withdraw retirement funds early to have fun money could be hooked up to a ..... Never mind.

Yeah, mine are also getting a Dear John letter from ME. And it will say, "I've really enjoyed our time together, but my business is moving in a different direction. Namely, a direction where I get to live. Don't keep in touch."

Hey, welcome to the forum! Great first post. OK, now I am really getting to work.

As a single mother getting zero grants for the three kids I have put through college / trade school with zero help from their dad, this seems incredibly wrong to me. Not a personal attack on anyone, I'm just tired of the way things work. Your wife got taxpayer help at the same time she had you to provide for her. And just to be clear, I don't think taxpayers should be helping anybody go to college. Not everybody should go to college, and we have caused education expenses to be obscene because we have taken political correctness to the extreme by handing out grants. That was my whine for the day, I will now get back to work, it seems that my tax dollars are needed by a lot of people. And, yes, I am well aware that nothing is fair. MDEA, I am not slamming you. You paid for advice and took it.

Yes, and it has to be (at least) the LAST six months of the year.

'> Thanks, Judy!

I had an attorney client in my office Friday, reminiscing about the days when he got audited all the time. Seems it all worked out fine because the preparer mistakenly set up a mobile home for 39 years, and everybody knows it's 17 years. Besides, he could have 79ed it anyway. He was communicating ok, he just didn't know what he was talking about. I just let him think he was right. They like it that way.

I looked briefly, could not find it, and this is NOT what you asked for, but it might lead somewhere, and I thought it was pretty good. I can't stand for my friend JohnH to have an unanswered post. I am named for him. Q: What is the difference between death and taxes? A: Congress doesn't meet every year to make death worse. You are looking for xtranormal videos, I think, I can't find them, but here's one about the economy:

Me, too! Hahahaha "Close your eyes slash look up."

http://lolthatsme.tumblr.com/post/78979424060

I feel cheated. For 100 years mine has done that. Somebody tell me I'm not the only one.

George, try line 32. And when you right click on line 32, the program takes you to the Summary tab (which is really stupid). Go down to the bottom tabs and click "Contributions".

I wish we rode together! With TJ, too, of course.

Well. That was clear enough. Yikes.

I am with you on that. I am also with you. Let's get coffee and flap our yaks about it.