User talk:Ekcpa

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NJ Inheritance & Estate Tax

The son is a Class A type of beneficiary, thus under inheritance tax, there should be none.....estate tax? not sure. Here is a link to the NJ site http://www.state.nj.us/treasury/taxation/pdf/other_forms/inheritance/itrbk.pdf

Death&Taxes

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Real Estate Professional

Yes, the time someone spends as a real estate agent count toward a real estate trade or businss. So could construction, sales, leasing - what doesn't count is if a person is a W-2 employee in any of these fields unless they own at least 5% of he employer's business. Kevinh5

Username

Yes - just let me know what you'd like it to be, and if no one else already has that name, I will change it for you.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 08:55, 29 December 2007 (CST)

User Name

I'll do it right now.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 13:01, 24 January 2008 (CST)

NJ partnership

I have no NJ Partnerships as clients, and only see them when I receive K-1s for NJ residents. I don't even have the software on the computer to try it out. I looked thru several clients from last year with NJ K-1s but had none in the same boat. I agree that there might be a problem because the guaranteed payments are shown separately.

Death&Taxes 17:13, 3 February 2008 (CST)

My teaching Schedule

Thanks for asking. I am not going to be teaching for NATP this year. Instead, I will be freelancing and teaching for the various state chapters of NATP, NAEA, and any other local organization that wants me. I dedided to not pursue a regular schedule with another national organization as I have a few other things that I want to accomplish this year that I need to be home for.

My next teaching engageement is for the NCSEA/SCSEA conference May 12-14 in Asheville, NC, where I will present an Ethics Jeopardy game (2 hour ethics CPE) and a class on Initial Estate 1041 Considerations.

I have taken a week off from TA, and am on today to do a little research on the recent Preparer Penalty issues for my ethics game. Kevinh5

125 FSA

Hi there. I noticed a post that you had written a few months back looking for a FSA provider on a small group scale. That is precisely what my company does. Let me know if you are still interested, I would be happy to help in anyway I can. You can reach me by email if you would like: mdecklever@base105.com

Thank you,

Matt

Why would he receive 1099? I am just stating that he is not considered as contractor by the consulting firm, he is a regular employee even though he has to travel to various location at his own expenese.

Texas/NJ LLC

I have clients who are members of LLCs where the business is elsewhere and they live in NJ. I think what you have here for the Non-residents is the ability to list -0- as the part of the inocme that is from NJ on their NJ K-1. Of course, it matters little to the NJ residents. This is what I see on my client's K-1s. I cannot conceive that the income would be sourced in NJ

Death&Taxes 12:42, 10 February 2009 (CST)

Place of business

Assuming the LLC only activity is the rental of this Texas property, isn't the place of business Texas?

Ekcpa,

I had the same question regarding whether an llc member can meet the active participation test for deducting the 25000 rental loss. what did you decide?

thanks, Mdhcpa7

LLC member and active participation

Ekcpa,

Hi. I'm new at sending these messages so I hope you get this one. I had the same question about whether an LLC member can activiely participate for the 25000 rental loss allowance or whether they are defined by the IRS as a limited partner and therefore cannot. what was your conclusion?

thanks, Mdhcpa7

Moved your liab ins question to business growth/practice mgt forum

Hi - I have moved your question about liability insurance for tax practices out of the tax forum (not really a Q about tax!) and over to the Business Growth Community Forum. We've been putting both practice management and business growth discussions in that forum since about the start of the year, and I think having your discussion there will make it easier for others to find it and benefit from the great information in the future.

If you object to this move, or think it's more appropriately placed elsewhere, please let me know.

Thanks,

Trillium 11:19, 17 April 2009 (CDT)

Business Growth forum

Hi - I thought I'd make sure you know that the Business Growth Forum is now for both business growth and practice management questions, and there's actually quite a bit of activity in the forum now. It used to be pretty slow, but between questions like the two that you've recently asked on the Chat forum, and lots of posts about EA exams, etc., there are plenty of people checking it out on a regular basis.

You might get some additional responses if you were to move your discussions out of chat and into the business growth forum, and the tone of the responses may change, too - I say "may" because we tend to be fairly jokey and sometimes rudderless no matter where the discussion is, but in general people rightly see chat threads as nothing but a starting point for whatever they want to talk about, whereas in the other forums there's often somebody who makes a post back on the original topic and gets things refocused eventually.

To move the discussions, open them up, go to the top and click "edit this page" and change the part right before the posts begin where it says "General Chat" to say "Business Growth Community" - making sure to leave the squiggly brackets surrounding the forum name. Click preview to be sure there are no typos in the name, since that'll send the discussion to limbo. (When you preview, you'll see at the top it'll say "Discussion Forum Index -->" followed by the name of the forum. If that name is blue and underlined like a link, you're good to go.) Click save page when you're all done with the move.

Trillium 11:27, 24 July 2009 (CDT)

You said you didn't offend easily, and only because of that....

Would you mind if I were to correct your use of the word "irregardless" in our recent discussion of the allocation of HELOC interest? Harry Boscoe 10:08, 27 September 2009 (CDT)

401k deduction

Ekcpa (talk|edits) said:

17 March 2009

I must say i am embarrased. the only person i have with a solo 401k sole prop is me. I will have to amend my own return for last year. Big benefit in NJ though, huge reason to do solo 401k over sep,simple. Only question now is do i get the entire deduction or only the deferral.

EKCPA

What was the answer to your question above. Did you get only the EE deferal portion only or did you get both the EE protion and the ER portion for your deduciton.

Bkcpa

cpa earnings.

Could you tell me how much self employed CPA can earn? The CPA is so hard, harder than most all other professional test but most CPA I know working for corp are making 80K or less. Here in california the average fireman w/ a community college education makes more than that. I appreciate your honest advice.

Fees/collections and efile are all practice management topics

I will be moving your discussions about "Efile without payment" over from the tax forum to the Practice Management/ Business Growth forum shortly, since (a) it isn't actually a question about a tax issue, and (b) it covers two topics that are clearly within the realm of practice management. The people who frequent the PM/BG forum are generally more interested in the kinds of questions you've raised than those who only read the tax forum, so not only does this move properly categorize your question, it also should increase the likelihood of/number of responses.

You can look at the topics for each forum here: Discussion Forum Index, and if you scan some of the existing PM/BG forum questions, you may find others than discuss issues similar to yours. In the future, you can start discussions directly in the forum they relate to, rather than going through the lengthier (4-step) process of asking a new tax question. Also, you can always get back to your prior posts using the "my contributions" link at the top right corner of your screen.

By the way, in case you need a translation of Kevin's post, he's alluding to the fact that not all tax preparers, and not all users of this site, are CPAs. Many are EAs or uncredentialed tax preparers, and their responses may be just as useful to you as those from CPAs. If you want to edit your post to ask "as tax preparers..." rather than "as CPAs" you can do so; see FAQ#3.

Trillium 15:00, 29 September 2010 (CDT)

End of the forum

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