User talk:Tgrieco
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Your question today
You posted a question today, but instead of starting or adding to a discussion, you posted it as an article (which is meant more for communicating information than for requesting feedback, and generally won't get very much traffic). Here are a couple of discussions that seemed to be more or less on-topic to your question - if you have follow-up questions you could post a reply to one of these, or start your own via one of the discussion forums (each forum has a link at the top to start a new question).
- Discussion:After_season_fees/late_fee_policy
- Discussion:Collection_letter
- Discussion:Not_paid_in_14_Months
- Discussion:Non-paying_clients
Trillium 20:38, 8 January 2009 (CST)
LTC Insurance
Kevin -
Regarding LTC insurance premiums being deductible on the 1040. Does it matter whether or not the policy is in the shareholders name or in the business name? I thought I read that for LTC insurance, it had to be a business policy. I read that if it's not a business policy, the taxpayer would have to put it on the Shc A instead of page one of 1040.
So, to back up a bit, I saw your response to a question regarding whether a business can deduct LTCi premiums paid by the business on behalf of a shareholder.
My scenario is that he owner/shareholder has a policy in his name and is paying the premiums himself. Under this scenario, would he be able to take it as an adjustment on page 1 of 1040 like SE health (up to the age-based limit)? He has a W-2 from his S Corp. Or would he have to put it on Schedule A since the policy is in his name.
I've tried to find an answer on this from the IRS and general research online but no success. Thanks for your help.
TgriecoTodd Grieco
Trade In
Could you give me some numbers for the trade in:
Cost of Original and date purchased:
Depreciation to date thru 2007 (assuming this is a 2008 situation)
Cost of the new before trade in
Cash paid for the new including sales tax and other costs, including loan
I'd like to see if I can do this via the 8824
Death&Taxes 12:14, 27 October 2009 (CDT)
Trade In
I need the cost of the new Toyota....that is what I meant by FMV. I also did not realize this is a 2009 transaction, but I will do it as if 2008.
In reality, what he may have done is sold the old Toyota for 11,130.
Death&Taxes 16:14, 27 October 2009 (CDT)
Trade In
email address is dethNtaxez@msn.com
I am not sure you have a trade in or a sale of the old vehicle for $11,130. I will do it as a TFE and if you give email address, I will try to send you details, or a pdf of the form. Using 2008, my depreciation for the current year will be 1695 for some reason.
Death&Taxes 17:04, 27 October 2009 (CDT)
