User talk:Vbcpa

From TaxAlmanac

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- Tim Doyle, TaxAlmanac Moderator - Talk to me 08:55, 24 February 2007 (CST)

Mortgage fraud case...I posted this in the thread

You most certainly can stop this activity. This is NOT a police matter. It's a Federal crime committed in your name. If the letter was sent via the Postal Service, it becomes the domain of the United States Postal Inspectors. If it was sent via fax, it goes to the FBI as wire fraud. I would find out how the letter was received by the lender and contact the proper agency.

Skasselea 12:54, 3 March 2007 (CST)

SIMPLE-IRA distribution

Thank you! Jeff

Compliment

Hi Vbcpa,

I have been reading through this forum for hours and found lots of valuable information. I just ran across the threads called, "are my taxes doen yet" and "When is a question Stupid" and was amazed and set back by some of the off the wall and rude comments shared by some professionals the frequent this forum. You, on the other hand, were professional and respectful and that should not go unnoticed. Thank you for contributing and thank you for being respectful of us less knowledgable business owners.

I posted a new topic called "Reporting of 1099-Misc" if you have time please read it and see if you understand why I am trying to help a friend. It seems to be a big joke to most that have bothered to answer after reading. If you don't find time, it's okay and I still want to wish you the best with all your endeavors.

Thanks

Can you look at my question on casualty loss?

You mentioned once that you had dealt with a lot of casualy losses with the 04 & 05 hurricanes in Florida, I'm stuck on something here and I was hoping maybe you could shed some light on this if you've ever had this situation where the insurance received is less that what was expected and reported on origianl loss return. I put the question up on the board http://www.taxalmanac.org/index.php/Discussion:Casualty_Loss-Insurance_Less_than_expected but I don't really expect too many hits on it, it's not a real popular subject. I'd really appreciate your thoughts. Thanks, Kathy

foreign income issues

Hello, I see some of your postings and answers.  I am very impressed with your knowledge.  I have a client with an 0-1 visa who established an LLC in NY. He has rental income back in Australia, and he still has a company there, it pays him director's fees.  I am not very good at this foreign stuff.  Do I have to report his Ausi comapny's income as well, or just the director's fee? Which line should this go on 1040?  Or should it go on his NY LLC schedule C? Can i deduct his Ausi mortgage interest and taxes on sch E for his real property?

Hello Vbcpa - In my case, my wife and i live in a community property state but we are a two member LLC. Can we still file a schedule C even though our EIN letter from the IRS states we should file a 1065? Which tax status (single member or multiple member LLC) will provide us more tax savings? Thanks