User talk:PDXCPA

From TaxAlmanac

Welcome

Hello, and welcome to TaxAlmanac! My name is Tim Doyle and I serve here in the role of TaxAlmanac Moderator. If you haven't done so already, you might want to review our Quick Start Guide to help you get oriented.

As you begin to interact on TaxAlmanac, your changes will be linked to your personal user page. We encourage you to edit this page and add a short description about yourself. This will allow others to better understand your background and qualifications as they review any replies or information that you submit.

We also suggest that you introduce yourself to the other members of the TaxAlmanac community on the User Introduction Discussion Forum.

If you can think of anything we can do to make TaxAlmanac a more useful resource to you, please feel free to give us your feedback on the TaxAlmanac Feedback Discussion Forum.

I hope you enjoy being a member of the TaxAlmanac community! If you have any questions, see the help pages or ask me on my talk page. Again, welcome!

- Tim Doyle, TaxAlmanac Moderator, Tdoyle 07:50, 19 January 2006 (CST)

1099

Did you get an answer back about what states require separate filing that are not included on Pub. 1220 for IRS Form 1099-misc?

Electing to file an LLC return as an "S" Corp

Your post was most informative on this subject. I have some research in this matter. In CA, I find it useful to elect an "S" corp treatment for LLCs to avoid the LLC fees that the State is charging without any good cause. One of the gas stations put themselves as LLC and were liable to pay about $12,000 in LLC fees on gross revenues - Ugh! I converted them to S Corp and saved that fees. However, I'm always wondering what could be the downside? The only thing I can come up is that Partnership assets are subject to a step up basis upon death, whereas S Corp assets are not. Any thoughts on this matter, or any other reasons you can think of for not electing to file as an "S" Corp specially when the State is imposing significant fees to an LLC?

Practice Management Forum

Hi, PDX - wanted to let you know, we are hoping to set up a dedicated Practice Management forum at some point, for discussions like fees and software, but for now those discussions are consolidated with "growing the practice" discussions, in the combined Practice Management/Business Growth forum.

I have moved your fees discussion over to PM/BG now - it had been in the tax forum over the weekend - and also, you might want to do a search of that forum for prior discussions on your 00--PF fees question. It seems to me that there have been several, which would provide additional data points for the question you're asking.

Thanks,

Trillium 12:53, 3 May 2010 (CDT)

edited to add: You can still get back to your discussion via the "my contributions" link at the top right of your screen. Also, here's the search I was thinking of - mentioned above - Search "990-PF" fees; there are a few there; you could try some variation with just "990" too, perhaps.

Trillium

Discussion deletions

Hi, PDX - thx for your inquiry earlier tonight. Yes, TA allows for deletion of entire discussions for a few rare instances: (a) non-pro questions where the OP has already received and ignored a note about the site being intended for tax pros only, and (b) duplicates. The pink notice box shown at the top of the forum indexes alerts people posting to the tax forum that discussions may be moved ore removed/deleted if they haven't provided any user info, and also, new users are informed when they first sign up, on the welcome screen they see. (Duplicates are covered in FAQ 21.)

The discussion you posted to earlier today met both situations, which takes some doing! At any rate, since the OP already had an active discussion on a very related topic, and since there were responses to his/her new discussion, all of the posts were moved over to the existing discussion when the duplicate was deleted, rather than just having them be lost. That prior discussion is here: Discussion:Stock Sales of a C-corp.

Generally, when Kevin or I have to delete a discussion/move the posts elsewhere, we'll notify the people who had posted to the one being deleted, but today I was watching TA on the fly on a borrowed computer (and with time I was actually supposed to be doing something else), so I hadn't gotten a chance to circle around and let people know where to follow-up if desired. So you get to be the first to be notified!

Hope that addresses all of your questions.