Bart

Why would wages be exempt from income taxes? I have a W-2 from ADP that is blank in Box 1 and two and has amounts in boxes 3, 4, 5 and 6. In the earnings summary provided by ADP it shows gross pay for the amounts in box 3 and 5 then it subtracts out "Exempt Wages" of the same amount to get a zero balance.

How has the SMLLC elected to be taxed?

When we have a tax return picked up we explain the signature pages and have the client sign. One of the pages verifies their bank info. We have them initial by the account number and sign and date at the bottom. Had a lady who is separated from her husband. His account was listed on her return. Her $800 refund went into his account and he will not give it to her. He is due a $1200 refund. She was really upset with us and wanted us to list her account on his return or call the IRS and have them take it back out of his account. She did sign the form verifying the account.

I missed that the estate started in 2017. I think you are correct Gail. I thought Danrvan was saying the estate did not get a step up in basis. Jeez April 10 and I am easily confused. Imagine that.

In reg 1.1014-4 If the bequest is of the residue to trustees intrust, and the executors do not distribute the residue to such trustees until five years after the death of the decedent, the basis of each piece of property left by the decedent and thus received, in the hands of the trustees, is its fair market value at the time when the decedent dies. If the bequest is to trustees in trust to pay to A during his lifetime the income of the property bequeathed, and after his death to distribute such property to the survivors of a class, and upon A's death the property is distributed to the taxpayer as the sole survivor, the basis of such property, in the hands of the taxpayer, is its fair market value at the time when the decedent died. I read that to mean the estate/trust does get a stepped up/down basis to FMV at date of death.

and have a nice audit

There is no 3115. There is no missed depreciation for the estate. DOD step up basis starts everything from new.

Taxpayer married to spouse #1. Spouse #1 dies 3/10/18. Taxpayer remarries 12/10/18. Taxpayer files MFJ with spouse #2. Spouse #1 has significant income before death. What filing status does spouse #1 use?

If you spend some time setting up the print sets it makes printing quicker.

Polish (język polski [jɛ̃zɨk ˈpɔlskʲi] (listen), polszczyzna, or simply polski) is a West Slavic language spoken primarily in Poland and is the native language of the Poles

I do not use QuickBooks over a VPN very often.. I use QuickBooks 2010 - 2018. I have multiple files since each client has their own data file. When I use QuickBooks over the VPN I do not run QuickBooks locally and access the data on elsewhere. I log on to the remote computer and run QuickBooks there.

I use QuickBooks over a VPN. What problem do you have that makes it blow up?

Go ahead and petition the tax court to keep that option open

If this is an employee wouldn't those expenses be unreimbursed employee business expenses which are now not deductible?

The city of Kansas City bills people for made up stuff all the time. I have way too many clients who just pay to make it go away.

I would think disregarded means disregarded. It does not exist. No such thing as a llc. it is just the taxpayers and is reported as if it were owned by the taxpayer.

You guys are electrifying funny

Missouri went from 2 pages to 5 pages last year.

I have a facebook account.

On another board there was a thread similar to this. One guy over there suggested sending a letter to the client stating if they did not pay they would contact the IRS and ask to be removed as paid preparer. They also pointed out that that would cause the IRS to take their return out of the usual processing routine and could possible cause their return to be reviewed more closely.

In Missouri you can get a food pantry credit for donating food. There is a limit on the amount of the credit each year so if you are not in early enough you don't get the credit since it has all been given away. I have a client who donates a lot of food to our local food pantry. Twice now Missouri asked for support for the withholding. By the time the return got processed Missouri said he was too late for the credit.

You are suppose to file the 2553 now and with the tax return.

POA's are worthless for everything to everyone when the person dies. POA's die with the person.

The amount of the SEHI is the full premium without subtracting any PTC or APTC.

Made myself scrambled eggs since i make the best scrambled eggs ever