Latest threads in Taxes General Forumshow only best voted threads
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Filing Back Returns
I don't usually take on non-filers, but for some reason I just did! I am filing 2005, 2006, 2007, 2008, and 2009. I have already filed a timely 2010 for this client. My questions are simple I think,...
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12 years ago
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Basis, depreciation, and life estates in real property
Person A deeds a residential real estate property to remainderman B, with A retaining a life estate. A receives no compensation of any kind for this. Presumably the value of the transferred remainder...
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12 years ago
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Nondividend distributions with multiple lots
If TP receives nondividend distributions, publication 550 says, If you buy stock in corporation in different lots at different times, and you cannot definitely identify the shares subject to the...
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12 years ago
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Required Minimum Distribution which age to use?
I'm maddeningly unable to determine what age to use, among the two ages everybody takes on in a single year, when using table III to figure minimum distribution from an IRA. Assume I take the age 70...
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12 years ago
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CCH Tax News Headlines - June 24, 2011
CCH Tax News Headlines - June 24, 2011 Federal Headlines: 6/24/2011 - _Final Rules for Automatic Extensions of Time to File Partnership, Trust, Estate and Pension Excise Tax Returns (T.D. 9531)_ (...
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12 years ago
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IRS Increases Mileage Rate to 55.5 Cents per Mile
IRS Increases Mileage Rate to 55.5 Cents per Mile IR-2011-69, June 23, 2011 WASHINGTON ? The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final...
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12 years ago
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CCH Tax News Headlines - June 23, 2011
CCH Tax News Headlines - June 23, 2011 Federal Headlines: 6/23/2011 - _Connecticut ~Multiple Taxes: Changes to Property Tax Exemptions, Cigarette Dealer Penalties, Cigar Tax Enacted_ ( 6/23/2011 -...
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12 years ago
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IRS Increases Standard Mileage Rates For Second Half of 2011 Increased
Business: Goes from 51 cents to 55.5 cents Medical/Moving: Goes from 19 cents to 23.5 cents Charitable remains the same at 14 cents as this amount is set by statute....
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12 years ago
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Test for depreciating as part of structure vs. standalone?
For residential rental real estate, what's the test for determining whether an asset is depreciated over 27.5yrs as part of the structure vs. depreciated as a "standalone" asset? For example, I'd...
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12 years ago
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Starting a photography business Deductions
Hello Everyone! I am starting a photography business this year, though I will most likely not actually charge anyone till next year. (I've been shooting for friends for free to build a portfolio) I am...
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12 years ago
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Is Filing Back Returns A Good Idea?
I have a new client that has not filed a return since 2004. He has correspondence from the IRS asking him to file his 2005 - 2009 tax returns. They sent along income information for each year. The...
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12 years ago
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CCH Tax News Headlines - June 22, 2011
CCH Tax News Headlines - June 22, 2011 Federal Headlines: 6/22/2011 - _Filing Requirements Suspended While Foreign-Asset-Related Forms Are Revised (Notice 2011-55)_ ( 6/22/2011 - _Ten-Year Statute of...
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12 years ago
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CCH Tax News Headlines - June 21, 2011
CCH Tax News Headlines - June 21, 2011 Federal Headlines: 6/21/2011 - _Individual Failed to Meet Requirements for Whistleblower Award (Cooper III, TC)_ ( 6/21/2011 - _Personal Expenses Not Deductible...
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12 years ago
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How do you get the IRS to tell you what was changed after you filed?
I ordered a transcript from the IRS to try to figure out why they changed my Schedule H (before I figured it out myself). The transcript arrived today. It says on the cover letter, "The transcript,...
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12 years ago
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Foreign Earned Income/No taxes paid by corporation.
Man I would really appreciate some help on this one. I have lived in a foreign country for several years and haven't been in the states since 1996 only for 20 days vacation. I have claimed Foreign...
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12 years ago
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