User talk:Actionbsns
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Tdoyle 23:15, 7 Sep 2005 (CDT)
Your Question
Paula:
I see that you have added a tax question to your user page. Your user page is where you can tell others about yourself, your qualifications, who you are, etc. If you want to ask a question, you're much more likely to get a response if you ask it in the Tax Question Forum.
- Tim Doyle, TaxAlmanac Moderator 08:54, 13 March 2006 (CST)
Hawaii group
Hi Paula,
Tim has added a Hawaii sub-group. If you are interested, you may add your name to the group and also content and links for information about Hawaii. See my user page for the Hawaii link. Please let Tim know what you think about the idea. 18:03, 20 April 2006 (CDT)~~Natalie
Hi Paula, Where is your practice? What is the size of your firm? What is your timeframe for the sale? Thanks, Jason
Jason, I'm located on the Big Island. I would like to have the sale of this business and our home complete by the end of the year. My business is a mix of bookkeeping, tax, payroll, QB training.
If you have an interest, please e-mail me at actionbsns@aol.com.
Can I add you
Hi Paula:
Can I make a change to your user page to mark you as a member of the Hawaii User Group?
- Tim Doyle, TaxAlmanac Moderator 08:23, 17 May 2006 (CDT)
Add my name to the Hawaii user group
Tom, I'm assuming that this will answer your question. I'm not really clear on how to respond to someone who has sent me a message in the manner you have. So I'll take this opportunity to ask how that is done. The answer to your question is yes you can change my profile to add me to the Hawaii Group.
Paula Wilson
Practice for sale
Paula, I have sent a message to one of the partners to find out whether they are still acquiring practices or not. I'll let you know when I find out. 01:57, 18 May 2006 (CDT)Natalie
The contact person is Charles Au. His number is (808) 540-3902. Natalie 01:09, 23 May 2006 (CDT)Natalie
Hawaii Practice
Hi, would you be interested in a practice in Louisiana? I would like a change and Hawaii seems like a nice place to be..Thanks
taxalmanac testimonial
Hello, I am the managing editor of CPA Magazine. I am including a feature story about TaxAlmanac in the August/September issue of the magazine. I wanted to include TaxAlmanac user testimonials in the story to show the value from a user standpoint. I was hoping I could use the following testimonial that you left on the Community Feedback page: "I am really glad to have TaxAlmanac available. Being totally on my own, I'm left to my own interpretations of some difficult tax law. Having TaxAlmanac around is kind of like being in a large firm where you can bounce ideas off other firm members. Even if you can't use the answers as authoritative documentation, you are often directed to a source that can be used for that documentation and that's incredibly helpful. Please keep it around."
You can email me at megan@cpamagazine.com to let me know if you would like for your testimonial to be a part of the story. If so, I can get your name and business information to accompany your testimonial at that time.
Thank you, Megan McDaniel Megan 14:24, 7 June 2006 (CDT)
selling your practice
Hi Paula,
Have you found someone to assist you with your sale? I just met a broker, Steve Abdalla from VR Business Brokers. They are a local firm and therefore familiar with Hawaii. They partner with a mainland company that specializes in selling CPA and bookkeeping practices. (The fee is split between the two of them, so there's no additional cost.) His number is 597-1101. 16:01, 27 July 2006 (CDT)Natalie
I read you posting on the above subject and am very interested if transaction (asset sale AND sale of the shell S corp) was completed? Is this valid strategy for a buyer to re-depreciate the assets AND own the company. In my case the company is needed because some of the customer contracts are not transferable. Thanks for any input. Doug Rdy4trvl 14:04, 7 December 2006 (CST)
engagement letter
there are in work the sample letters. I tried to save as PDF but no luck. Do you know how. Or I can simple e-mail to you if you want. Ma
Thanks for your Info. Was very helpful. HYJ
sun burn
Action, I am sorry for my comment. I would blame it on the sleep deprivation, but I say a lot of stupid things even after a good night's sleep.
Mahalo for the Kona coffee and beautiful artist's print
The gift arrived just a few minutes ago! I love all of it! Thank you! I will enjoy a cup of the Kona dark roast tomorrow morning!
I will be out teaching in Honolulu Nov 1 & 2 and would love to meet you if you are around! Kevinh5
You made my day!!!!
Tax Liability for Your Client
If you want, give me a call or send me an e-mail with the facts related to your client's liability. We can talk about the options. I'm a tax controversy attorney in L.A. with 7 years of experience as a trial attorney for the IRS. I deal with the collection matters on a regular basis. Phone: 310-246-1562. E-mail: idrabkin@hshdtaxlaw.com
Offer case
Skasselea 14:24, 23 June 2007 (CDT) Steve Kassel, EA eTaxes.com San Bruno, CA 94066 650.742.7700
Please call me if you'd like to discuss this case
Your experience w/start up costs?
Hello Action,
The name is Mike, hoping you can help w/your experience and I will TRY to be brief. Scenario: Single member LLC switched from doing a HR Consulting, from home, to opening a Pizza Restaurant(LLC) ( only pizza rest serving small community of 20-30,000 houses). Incurred cost in 2006--ovens,pans,shirts, etc.. Actually, opened doors in Aprl/2007 and it's been "gang busters" to this very date. We are prepping his 2006 return, of which, the cost per 2006 of at least $5k. Finally here are the questions: can a business w/no income create a business loss w/no income and reading my 2006 Quickfinder--Quote: "The $5k immediate deduction allowance is reduced dollar for dollar (but not below zero) by the taxpayer's cumulative start-up expenditures in excess of $50k. Amounts that cannot be deducted currently (either because they exceed $5k or because of the $50k rule) are amortized over 180 months if the election to deduct or amortize is made. OK excuse my low I.Q nobody's perfect (hehe). I noticed your in Hawaii and my uncle has been living there since 1950 part of the reason of this thread--bottom line-- Got to love that Hawaii!!!
Thanks for your valuable time Mike
Call carrier first
I posted to your question about an accountant's letter. Action, you may want to go ahead and call your E&O or professional liability carrier if you have one. They may send you to a lawyer themselves, or have some advice for you. CrowJD 16:46, 13 September 2007 (CDT)
Pictures
Find a funny jpg. Right click and save picture to your desktop. See "toolbox" on this page upper left. Click on "Upload File". Browse your desktop for the jpeg file and upload it. Make a note of the jpeg name. In "Reply to this discussion" - hit the "image" icon. Substitute "Example" for the name of your jpeg. BethAZ 15:07, 20 September 2007 (CDT)
Editing pages
I saw your comment on the Code of Conduct discussion about editing. It's really very easy to do. Up at the top of any page you should see a tab called "edit this page." Just click on that and edit away. You do need to be careful about what you change, however. There are some special characters that need to stay for formatting purposes. Natalie 03:22, 22 September 2007 (CDT)Natalie
Action, this goes on my Email also
[your name or business name] accepts no liability for the content of this email, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.
From Crow
Above left my name out so you could copy/paste if you desired. CrowJD 12:45, 27 September 2007 (CDT)
Action re joint accounts
The joint accounts you have with the person mentioned will probably pass to you by operation of law, and outside the "Will". However, I'd have to actually see the account information to assure someone of that. CrowJD 19:42, 6 November 2007 (CST)
Okay, Paula. I sent an email. Natalie 14:25, 21 November 2007 (CST)Natalie
the rains
I was just wondering how you're holding up. They said the Big Island was going to get soaked tonight. We have rain here right now.Natalie 01:59, 6 December 2007 (CST)Natalie
Your Post
Hi Actionbsns, I saw your post here: [1]
I wonder what you meant by "Shareholders in an S Corp receive equal distributions from the corp and the profit at year end is split equally". Shouldn't Corp income (or loss) be split according to percentage of stock ownership? Can you please explain? Could you please respond to the post? Viking 02:33, 28 December 2007 (CST)
Unions
I totally agree with you. People won't miss the unions until they are gone. Without unions, there would be no paid vacations, no sick leave, no overtime for anyone (not just union members). These are all things the union movement won for American workers.
I was going to chime in on the board, but was going to wait before someone addressed the payroll part of your question before I did.CrowJD 12:56, 26 January 2008 (CST)
Extension problem solved
OK, then this. Tell him he has 30 days to get his crap in to file, and you'll discount your fee 85 bucks for the missed penalty. Put it in writing.
LLC to S corp
Paula, I'm sorry, I don't know what is required in Hawaii. Many times the federal form can be used as a substitute in Hawaii. Did you look into that?Natalie 04:49, 26 March 2008 (CDT)Natalie
vog & SO2
You know, I think the SO2 has come over here. It's starting to smell funny outside. And the weather is just yucky -- cloudy and gray.Natalie 15:15, 9 April 2008 (CDT)Natalie
Great Line!!!
I loved your line: "REALLY hard tax season and seems like everything I pick up needs to be researched and I must be getting better at it, because one thing keeps leading to another and I need another answer - if this, then that. Or does that mean I'm getting worse?"
I can identify. Don't you just hate it when you see the issues, go down a side road, then find out that the side road was unnecessary? You don't know whether to be happy or sad... HEHE. Here's to a smoother year from here on out! CrowJD 21:03, 15 April 2008 (CDT)
Aloha
After April 15th I have only come onto the TA site twice, both times to do a little research. While I was here I did answer a few questions or make a few comments, but I have been very busy catching up on non-tax stuff and non-normal tax stuff (IRS collections, etc).
When I've got a few extra minutes I'll spend more time here.
Thanks Kevinh5
quickbooks - passwords
howdy do,
if you need the quickbooks unlock program, shoot me an email and i will forward it to you.
QB's password retrieval
I shall email the info shortly.
Been a long weekend. lol
Good luck.
Is this you Action/Paula? Take a look at my answer again if you want, because I went through and made a few edits to try to make it clearer. We are at a turning point right now in the economy where I think interest rates are going to go up, and usually that is not good for stocks, and it's not good for long-term bonds. So, I'd play it on the safe side with short maturity CD's inside an IRA for at least a couple of years. This way, as the CD's mature each 6mo., he can catch that higher interest rate! Again, my two cents. I feel for you, big responsibility, but I feel certain you are up to it.CrowJD 19:36, 10 June 2008 (CDT)
Will he have the cap. gains?
Action: one question, if he sells the stock w/in the 401(k), will he have capital gains? I was thinking of selling and converting to cash w/in the 401(k), then transferring to the IRA in lump sum. Anyway, please take my advice to be hypothetical investment advice, and not tax advice on how to make this transfer, or on selling the stock taxwise.CrowJD 19:43, 10 June 2008 (CDT)
Ha, I'm so dense
I see. Seems like he has the co. stock outside the 401(k). Have someone evaluate that and make sure it's worth keeping. My mother had a friend that retired with a lot of Ford stock, and she's really, really hurting now. So, if it's decided for him to get out of the position, perhaps he can slowly sell out of it to reduce having it all taxed on one year. Anyway, I think you get the jist of what I am trying to say, investmentwise at least. Crow
Possible QB payroll solution
This may sound crazy...which is why I'm putting it here instead of answering you in the general forum.
If your client just needs some interim reports, why not restore the QB file as another company with a different name (XYZ Co Accrued Payroll for example) then just change the payroll dates to match the 'accrual' period.
You could then get your management labor costs, percentages, whatever you need. You could then use this info for a journal entry into to the REAL QB file, if you decide that's needed.
Just be very careful you're always working with the right file....
And you'd have to do this every reporting period....and you'll have to change the prior period one too....
Maybe too cumbersome after all; exporting to excel might be better - take the suggestion for what it's worth! Belle 18:57, 14 August 2008 (CDT)
The Big Island
Hi Paula
The American Tax Code is still so new for me (I came to the island from France around 1 1/2 year ago). I go to Honolulu next week for part 1 of the SEE. I have seen several EAs on the island, but not one single woman. Not before now, so I am so happy to see you! Philia2 17:19, 26 August 2008 (CDT)
Waimea, Kamuela, Waimea.......
I work in Waimea. So you are still on the island -what happened to your practice? (Not that I am ready for that yet -maybe in a year). One week in Paris is not enough. November is a very good time to go there though. I wish you could stay and see Champs Elysees in December. BEAUTIFUL!! Please feel free to e-mail me. Philia2 20:06, 26 August 2008 (CDT)
Air Rights
[As I was typing this post for the air rights discussion, Roy posted there and pointed you to a google search, which is probably a lot more factual and all-encompassing than my comment - so I just copied what I'd written, to post to you privately as an add-on.]
Paula, here's one scenario that might help you: In NYC, there are building codes that limit how tall a building can be - one of the factors in the calculation has to do with the amount of land the building will cover (this is a recollection, e.g., it might be something about open space on the lot vs space covered by the building...). So up near Columbia University, there's the Cathedral of Saint John the Divine, which encompasses lots of land, isn't very tall. Nearby, somebody wants to build a tall building, doesn't have the land size required under the code. They can buy the cathedral's air rights and use them on their own land, to build higher than they'd otherwise be allowed to build. In that case, the cathedral loses all right to ever build vertically.
Or there's the one on Park Ave., in midtown, where they actually built the hotel around and literally over an existing mansion - at that point, no matter what the legal document says, there's no more possibility of building up from the original structure!
In a case like David's, it's almost more of a sale of the use of the roof (not for nothing does Riley's Rev Ruling talk about "easements"). But that legal document is going to focus on protecting the commercial value of the cell phone towers. Assuming for a minute that it isn't usually cost-prohibitive to just add a couple of stories to a high rise, it'd be hard to imagine how the building owners could do that without at least temporarily impeding the usefulness of the towers. Plus, if the cell phone towers needed to be at a certain height for maximum effectiveness, then the building owners wouldn't have a chance!
Air rights?!?!?
All that thread has done is make me realize how much I DON'T know about the world sometimes.
I always thought air was 'free' ;-). I scanned some of the info on the link that was posted - fascinating. I'm still hung up on basis tho; can't use square footage (think about Kevin's post), zero basis doesn't seem fair, should it be 100%? (the airspace wouldn't exist without the building or land).
I loved your description of the family discussion, sounds like you had a lot of fun with it. And what a great mental/intellectual stimulus for all involved.
Thanks for the heads up.Belle 16:29, 29 August 2008 (CDT)
