User talk:CalifCPA
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Final year in the US / NR or Resident
Hello there,
It seems like you may know a bit about resident/non-resident issues so I thought I'd ask you...
My clients left the US on June 1, 2007 to return to India. They passed the substantial presence test but my question is Do they get to choose whether or not to file as a resident or dual-status and must I file Form1040-C (Departue or Sailing Permit) with their tax return? What about Form 8854 (Initial and Annual Expatriation Info. Statement)?
Thank you in advance for any help you can give me, Aisha
2008 rebate
Hi Calif
Agree your comment re dependent; however they must be a qualified child i.e.< 17 yrs old for the parent to even get the child rebate; obviously a parent exceeds the age limit,so they both lose out?
What about students in school > 17 with earnings, however the parent claims them for the additional educational credits, etc. Do you think these people as well will not be entitled to a rebate? CarlaCPA
401K RMD
I heard that RMD is not required for the 2008 due to the economic downturn. Is this true? I could not verify this.
California Taxation on Marijuana Sales
I was reading your post regarding California Taxation on Marijuana Sales. If have a few questions if you could please email me on tsaccounting@gmail.com or call me on 714-224-8889.
Thanks
FSA for child care withheld beyond the 5000.00 limit
I have a client that will have an amount set aside in a FSA for child care that will, between he and his spouse, exceed the $5,000 limitation. Firstly, is it possible, prior to the close of the tax year, to have the excess returned to the T/P. Of course, it would be included in the gross income on the W-2. If it ends up on each W-2 and the amount exceeds the $5,000 for a joint return, how will that be handled? Client will have used up to the $5,000 for payments for child care. I'm concerned about the difference.
RWHRusshubler 22:30, 1 November 2009 (CST)
