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LanceHunter posted:Possibly, though there's about a 0% chance my friend is organized enough to be doing all that. I'm only sure he's paying sales tax because that's processed automatically through the credit card payment system (which also sends a nightly email showing all the machine's previous day sales, which is pretty neat). Your friend needs to hire an accountant, and you have the right to request that as an investor in the business. Just shrugging and saying its his fault isn't a defense for not recording income correctly.
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Jan 11, 2024 18:29
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If it’s $300 I’d just eat the $30 penalty and move on with my life
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Jan 21, 2024 02:37
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Pittsburgh Fentanyl Cloud posted:I file via HR Block (lol) and it's all imported automatically via the payroll companies Just to confirm - both of those w-2s are yours correct? That’s what your return is showing.
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Jan 21, 2024 03:33
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The excess SS withheld would be credited as an estimated tax payment and result in a larger refund than appropriate
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Jan 21, 2024 16:24
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smackfu posted:Confused about an IRA tax thing… Your basis after the rollover last year is $0, not $188. You wouldn't have taken a loss on your return if you handled this as a distribution (which this is), so you don't get to maintain basis when the rollover is less than your entire contribution. You'll have $15 of income to report on this year's return.
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Jan 25, 2024 20:50
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smackfu posted:Oh interesting. I can’t see where I made any mistakes in FreeTaxUSA (or in its forms), but it’s easy enough to zero out the basis for this year. I doubt you made a mistake, just the form probably populated incorrectly. It’s nothing you have to fix for the prior year.
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Jan 25, 2024 23:24
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I was gonna say, $1k is insanely cheap. I won’t touch under 10k and usually need a business reason for under 20k
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Feb 17, 2024 02:43
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jemand posted:This question is from pure curiosity, thinking back to the "covid cash" days early in the pandemic. Unlikely
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Mar 2, 2024 23:02
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A 50S RAYGUN posted:i live in new jersey. if i sell my half of my father’s business (left to us when he deceased), what are my tax implications? is this income? short term capital gain? a different thing? You need to engage with an accountant and whoever handled your fathers estate. I don’t say this to be dismissive, but it’s the actual answer.
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Mar 8, 2024 00:35
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Did you specifically tell him that you contributed to your Trad IRA and then did a backdoor conversion? If not, he probably just reported the 1099-R straight up without thinking too much about it.
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Mar 22, 2024 03:56
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Peyote Panda continues to be the model IRS employee, and I'd like him to replace the officer working on my client's audit who is not.
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Apr 15, 2024 01:40
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Ne Cede Malis posted:He's not a CPA, AFAIK, but an MBA loving incredible
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Apr 15, 2024 03:47
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| # ¿ May 10, 2024 03:54 |
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Are the mortgage interest and real estate taxes covered in the maintenance fee expense? If so, then it’s a double dip. If not, then I think it would be ok (unless there’s something else I’m missing).
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May 9, 2024 22:03
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