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Thanks Thanks
 +
 +== Kevin ==
 +
 +First, thanks for all the input you give. I have 2 questions. 1) What are some good topics to give talks on? I am going to look to give a series of talks but do not know the best topics. 2) Do you know anything about HDVest?
 +
 +Thanks,
 +
 +Dusty

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Contents

Links to Pubs

Kevin:

Like this: Publication 17. I can make "shortcuts" so you can abbreviate "Publication" to "Pub" (or should it be "Pub."?) if you think that would help.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 11:33, 27 January 2007 (CST)

thanks a lot Kevin. I dully appreciate your feedback




Stormy

My Stormy is a Cocker Spaniel as well.


- Tim Doyle, TaxAlmanac Moderator - Talk to me 18:40, 8 February 2007 (CST)

Stormy II

Stormy is black with tan and white markings on his feet, chest, and cheeks. He loves to run around the backyard here chasing rabbits, and so I have to keep him shaved down as well. He doesn't like to swim, but he's gotten in the habit of walking into the swimming pool on a shallow ledge and laying there to cool off in the summer. He's my 3rd cocker - the other two died within a month of each other a few years back.


- Tim Doyle, TaxAlmanac Moderator - Talk to me 18:57, 8 February 2007 (CST)


Moving a post

Hi Kevin:

I see that you moved the post already, but let me fill you in on what happens in the forums.

All wiki pages are just pages. You can add, edit, or delete content from them using the edit tab at the top.

The discussion pages are still just pages. You can add, edit, or delete content using the edit tab. When you do it this way, it won't add your name, etc. or make it formatted nicely.

When you add to a forum topic using the 'create new' or 'reply' functionality, the system takes what that person typed in and adds a few things such as their name (with link) and the date, and also adds the squiggly braces (not the official term, I am sure) and a call to a template so that it's all formatted like you're used to. It then takes that text and plops it at the bottom of the page.

The best way to move a post from one discussion to another is to bypass the automated reply box entirely. Edit the page, grab the whole entry, including the squigglies, date, name, etc. and just move that to another page (using the edit tab there as well). That will bypass the automatic addition of YOUR name and just add it to the page.

I hope this makes sense! Perhaps more than you wanted to know.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 16:33, 10 February 2007 (CST)


IRD

Kevin:

I love your article about IRDs! I've just created a shortcut to it. If you enter IRD in the search box, it'll go right to your page. This is exactly what we had in mind when we launched TaxAlmanac!

- Tim Doyle, TaxAlmanac Moderator - Talk to me 22:58, 6 March 2007 (CST)

Depr Tables

Kevin:

I like your idea of putting the Depreciation Tables here on TaxAlmanac. Thank you for pointing out where they are located as well! My question to you is this. What do you think the page name should be called? "Depreciation Tables"? Should we put all of the tables on one large page, or should the first page be an index to additional pages which then hold one table per page? What should these pages be called? Should we just have a Quick Link Page to the tables as they exist on the IRS website, or should we work to bring them to TA (meaning we'd have additional maintenance in the future if the IRS changed them)?

Thanks!

- Tim Doyle, TaxAlmanac Moderator - Talk to me 10:14, 7 March 2007 (CST)

EA exam

Hi Kevin, thank you for your help regarding Fixed Assets. As you may see in my profile I am already retired, have a small practice in Houston but even though I have an MBA from NYU I was not interested in pursuing a CPA certification since I was in the corporate sector. Now I regret it. I am trying to take a second best choice which is Enrolled Agent. In 2005 I took in the old format all four parts, but unfortunately I only passed 1, 2, and 4, and I missed part 3 Corporations Fiduciaries... etc. I took the test for the part I missed under the new Thompson format and I failed it by three points. However I don’t give up and I am planning in taking it again around May or June after all this Tax season commotion. Now I need your wisdom in telling me please what will be the best way to study for this exam. Is there any courses? Or classes I can take or is there a method I can follow to study to pass this test? I would appreciate any light you can give me.

Thank you again

Jerry A. Mercer

Thanks Kevin, I am comfussed. Why would I study parts 1 and 3 and then 2? I only missed the Corporations Part. and they are giving credit for the other parts I passed. I am inclined to buy the GLEIM EA review book only for the new part 2 Business. Any comments on that?

THank youBiggulping 12:40, 7 March 2007 (CST)


Your Web Site

NIce site. My father is a retired CLU. He worked for Prudential. He said it stands for Chartered LIfe Underwriter. Your web site has you as a Certified Life Underwriter. If that the same?

Are you teaching the final 1040 in Colorado this summer? What is your email address? john@frankcpa.net

Thank you and question on EA

Hi Kevin,

I just wanted to thank you for all of the times you have answered my questions on this forum. You are very knowledgable and I wanted to know your opinion on becoming an EA. I also have an MBA and I am a Registered Tax Preparer in California. Some of my CPA friends say I should take the CPA exam and others say I should take the EA route. I was interested in why you choose that path and what do you believe are the benefits and downsides to becoming an EA and also the benefits and downsides to becoming a CPA. Also, for one who is not good at memorization but who is good at test taking overall, which path is the best?

Thanks,

Glenda


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legal fees

hope you are doing well, I have some stuff on legal fees i thought you might like, didn't think it pertained to any particular discussion, i always enjoying your comments !

http://woodporter.com/pdf/TN052206.pdf

don't know Robert Wood, just some of his stuff about legal fees i found interesting, I hope this is helpful

TexCPA !


Thanks Kevin for your presence and a question for you

Hey Kevin;

I have learned sooo much from you and I for one value your opinion above many others...

I am thinking of taking the EA exam this year...I am a CPA but it is beginning to cost more and more to keep this designation and besides that, I don't need it much anymore being in a small town and no intent to audit ever again!!

I talked with another CPA friend the other day and they think I should not go for EA, that being a CPA is more distinguished...however....I truly think it is overrated....

Even some on here that are "preparers" know a vast amount more than I....

What would be your response to someone who says that a CPA is more valuable? Since you teach and also are involved in the EA community, I thought I would go to the horses mouth on this one.

Thanks so much!!

Sandysea

Thank you Kevin!!

Oh for sure I know I need alot of studying for the EA exam. But in the town I am in, I do more taxes than anything else. Yes, I do a ton of F/S, but I don't really (for my clients) need to provide reviewed or audited statements...they are statements for internal use only and for tax return prep most often.

I don't care much about titles....they are simply letters after a name and mean absolutely nothing except you need them sometimes to show others....

Thank you for the input. I am going to try this thing....haven't taken a test in years, but as I said, the need for my CPA in this town is not cost effective. I can certainly reinstate it if I choose when the business needs it, but for the work I do...I want to know more about taxes and less about what I already know about...hehehehe

Thank you!

Thank you for removing those spam posts!

- Tim Doyle, TaxAlmanac Moderator - Talk to me 08:49, 11 May 2007 (CDT)


SIngle member LLC.....

Kevin - you handled that rather well under the circumstances. Just thought you should know that counts allot looking from the outside. Have a good weekend. Michael

Stepped Up Basis

Just wanted to say thanks...my research leaned on yes but it wasn't black and white...just wanted to hear it from another source.

Can you give me a hint to where I can see this in a reg, code sec ect>>>Have to let an attorney know. Many thanks, Tax Lady


Special Thanks

Special Thanks for Mr. Kevin Huston for replying the links you sent me for EA exam really helped i already registered for three day workshop. but i would really appreciate if you can guide me where i can get the detailed knowledge about part 2 as i dont know practice in corporations, trust or any non profit organizatoins and i need to know about these things in detail. by the way would it be benefit for me in any different way if i will practice as EA instead of practcing as self employed individual.

thanks again for your time

Jaideep Singh


EA

Thanks for encouragement. Faxed over stuff earlier, and your name is down as my referral...if you win a trip to Hawaii, take me.

Thank you

Dear Kevin H, 

    Thank you so much for your assistance in turning my collections situtaion around. I also appreciate your comments about adding financial services which I probably will do eventually.


Jane Davis


YOUR RESPONSE

Thank you for your help! I really appreciate the knowledgable advice!


KimT in AZ

Hello Kevinh5,

I wanted to thank you for giving me some great resources to prepare for the EA exam. I think it was NATP but I found some great on-line classes and CPE opportunities...just wanted to thank you. Have a nice evening. I took a class with TaxMama last summer to prepare for the EA Exam and although it was a great class; I just did not feel ready. I had some medical issues that distracted me from getting the most of the class. Thanks Again and I can tell that you really do know your stuff.

Brownie Points

Consider your brownie points in the bank!


profile link

Thanks for changing my discussion to include a link for profile, Kevin. When I first saw that you made a change, I was very curious what it was that you would change.Natalie 01:23, 27 June 2007 (CDT)Natalie

F-1041 Deducting Closing Expenses on Sale of Residence

Thanks for your note. I have read that expenses related to a personal residence (of the deceased) for sales expenses are deductible. Does that include the brokers commission, legal and the various closing costs?

Thanks for your input.

Scott


Re: Mr. Huston

Dear Mr. Huston, 

    What about HD Vest. I am hoping the financial aid services will bring in more tax clients and then I can associate with someone like HD Vest.

Can't make money doing accounting and bookkeeping.


Jane Davis

Re: Financial Planning

Dear Mr. Huston, 

      Thank you for your advise. I got some info from HD Vest. Going to hold on and see if the college financial planning ( FASFE) program can help me get more tax clients. Then I will revisit HD Vest.


Jane Davis


Confidentiality Agreement

Thank-you for your time!

NATP conference

Kevin,

I didn't get the opportunity to meet you in Las Vegas at the NATP conference last week but I am hoping that perhaps someday I'll get the opportunity. By the way, we signed the CPA in our office up for NATP and used your name as a reference. Did you receive any "brownie points"?


Education does payoff!

CPA I do subwork had a client die and asked me if an estate tax return needed to be filed. (He owned three businesses.) I said yes and that I had just gone to a seminar about them. I'm taking my book and going to the CPA's office on Friday. I suspect he'll just ask me to do the return.

Thought you'd be interested. Thanks for the great class!

Various Matters

Dear Kevin, 

    You have responded to some of my questions in the past and I greatly appreciate that. I am going to an HD Vest local meeting with a buddy of mine to check it out. I have 130 clients at this time ( live in a rural area) and may wait till I have more do do investments.

    I an EA as well as have an out of state CPA license ( which I can't get reciprocity for easily and will probably have to do some audits for someone to get it). I do writeup work, tax returns and planning as well as QuickBooks consulting for individuals and small businesses. I am not a great fan of audits but wish I had that CPA( a self esteen issue) I wonder if it is worth all the hoops to try to get it ( fees, peer review,etc) when I probably would only do a few compilations. Can CPA's charge alot more for the same work as EAs? Would focusing on financial planning ( if I get more clients) make up for the economic difference. How is it working for you?
   
      
   thanks. that's alot of questions. Sorry I could not make the NATP convention this year. Is there a way I can purchase your seminar?


Jane Davis, MBA/EA/CPA


Re: HD Vest

Dear Kevin, 

    I attended a HD Vest local meeting in Worcester, MA. It looked impressive and I would certainly like to do financial planning whether or not I pursue CPA reciprocity. Since I only have 130 clients and many don't have much money I am wondering if I should wait a few years and try to build up my clientele. Right now I can only see selling a few IRAs to these people( Maybe I am wrong). What is the rolling gross they talk about? Will HD Vest get rid of you if you don't sell much for a while?

     Thanks,

Jane in CT


Hi Kevin

You had left me (TaxNerd) a message. My name is Larry Moon and I used to work with Griffin & Associates. One of the other guys at that firm works in Marietta now. His name is Stafford Huff. You can e-mail me at LarryMoonEA@Bellsouth.net, or my phone number is 770-438-2080. I would love to have somebody to refer clients to if you are accepting new ones, especially the more complicated ones that I am trying to avoid, although I believe you are in NC now. Feel free to contact me. Going tomorrow to the NCPE corporate seminars. I like their seminars, but I'm sure they don't compare to yours (this is where I would put the smiley face thing if I knew how).

Honolulu Nov 1-2

Hi Kevin, I see you'll be in Honolulu the beginning of November. Do you have any free time available? Perhaps we could meet for coffee or take a hike in East Honolulu. (I can bring my boys if that would make you feel more comfortable.) I'd just like to meet you while you're here if that's possible.Natalie 18:59, 6 September 2007 (CDT)Natalie


That's great Kevin! Now, how much of a challenge do you like hiking? The Makapuu Lookout hike is pretty easy for all hikers. The road is paved, and there's a beautiful view of the ocean. It takes about 30 - 40 minutes to get to the top. It's a great place to see whales, but I think the first part of November is a little early for them.

If you'd like more of a challenge, we can go up Mariner's Ridge. From the top, one can see the ocean on both the Diamond Head and Windward sides of the island. It's beautiful. Since this is a ridge, we can go as far as you'd like, and there's shade. The Makapuu hike is all in the sun. Natalie 15:17, 7 September 2007 (CDT)Natalie


PVV's Ethics Post

Your post to Natalie was excellent. It hit me last night that it would be malpractice to disclose this without full client consent. It shows how quickly we can fall into a trap. It was an superb discussion. Very Socratic as it proceeded along. CrowJD 16:21, 14 September 2007 (CDT)

How to do Tax Research

Kevin:

I love your idea about a course or tutorial on how to do tax research. I didn't want to reply to you on that discussion as I want more people to answer the original question and not get sidetracked on this topic. Would you be willing to help out in putting together such a tutorial, or at least a framework? One thing that wikis are really good at is allowing people to collaborate on a topic, constantly improving it. I am more than willing to help, but I have a programming background, not a tax background, and I doubt I'd be able to hit the mark on the correct organization. TA has quite a bit of reference material, and I'd love to put together a tutorial to show people how to get their own answers. Let me know what you think of this idea.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 11:47, 19 September 2007 (CDT)

Article

Kevin:

I'm thinking through a few issues here...

  1. I personally have no issues with you submitting the article elsewhere, but we'd need to think about the following:
    1. Would there be any issues with copyrights, etc. if it was submitted to both locations? I think this could be worked out.
    2. If the article was written collaboratively by many members of TA, who would the "author" be when it was submitted elsewhere? Would we need to get approval from all authors before submitting elsewhere?
  2. If the TA article has links directly to the source material here on TA, and perhaps makes reference to how to do the research on this site, how would that work in a published article?

What about the possibility of writing 2/3rds of an article and then diverging from there - adding TA specific references to the online version, and fleshing out the published version. The published version could reference the TA version and the TA version could reference the published version, both similar but with unique differences customized to their audiences.

This is an important topic, and I appreciate you taking the time to discuss it. I think these issues have prevented others from submitting work here.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 12:20, 19 September 2007 (CDT)


Real Estate Prof/ Agent/Broker

Kevin, I always see you a stickler and a strict interpreter of the law and was hoping you could help. I have read prior posts but still wonder your opinion. I keep getting stuck on the definition of real estate professional. Does a real estate agent(non w-2) time count toward the participation rules. The code says real estate broker. I am talking about NJ if you feel that sways your opinion.

Thank you for your time, Hadlin

Real Estate Prof/ Agent/Broker

so you don't take the wording of broker literally.


Thanks, FUNDGUYFundguy 02:05, 13 January 2008 (CST)

1041 Newbie

Hi Kevin,

I have read many of your responses. If you have a minute, can you take a look at my post: 1041 Filing Questions-Newbie. Any help is greatly appreciated!!!

-NancyNjmurph 21:54, 19 January 2008 (CST)

I'm pretty new to this site & have no problem filing out my profile. I'm a practicing CPA in NYC for 12 years. I just didn't see anyone explaining why the IRS would have an issue with this. If you can send me the direct link to I'd appreciate it. I also appreciate your prompt respones as well. Thanks April 15

dear kevin : thank you .The s corporation never has an income,(always loss),except this year . This is the the only year that have a sale result in big capital gain. I am debating to treat the property tax ,interest and the land as land cost,so that At least I can reduce the capital gain and the California 1.5 % income tax. If I treat the interest as investment interest as k-1 item, I am not sure I can deduct it in the computation of net ca s corporation tax . Further ,If I treat the interest as business interest ,I am afraid it may disqualified land sale as capital gain.sincerely davis , It need to note that The s corporation never have any significant activities during the last twenty years,; each year just pay partial property tax and collect some interest from shareholders then pay to to land seller.

YouTube link

How in the world did you find that? I thought you were a busy man!!? Natalie 12:54, 23 January 2008 (CST)Natalie

Yes, actually it did work well in that instance.

I already did, Kevin. I added onto your request. Of course he can always login again later. I wonder if there's a way to prohibit posts from certain URLs? Natalie 14:58, 23 January 2008 (CST)Natalie

You might want to look at my discussion page. Tim added some information about blocking posters and deleting information. Natalie 15:32, 23 January 2008 (CST)Natalie

Visitor

Kevin:

I'm not sure how he got back in either... I am watching closely.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 16:21, 23 January 2008 (CST)

unwanted poster

It looks like Tim took care of him. I don't see a trace now. Natalie 17:12, 23 January 2008 (CST)Natalie

You left me a message

Apparently someone deleted the offensive post from my e-mail. I did call it to Tim Doye's attention. Don't know what he did after that. Uncle Sam````

Banned User

Yes, I did have this person banned for one week. See Special:Log/block. Note that I added him twice (which I shouldn't have had to do, and it apparently still didn't work. I've not removed both of those and added a permanent block. I've also asked our technical people to look into why the other type of ban didn't work.

- Tim Doyle, TaxAlmanac Moderator - Talk to me 11:29, 28 January 2008 (CST)

dog trainer being audited

lets say she does treat them as livestock, they live in the kennel.

For the show expenses, by winning the awards for the training promotes her business, also this help with the breeding of her dogs. The breed is dobermans. The shows are not like the regular akc best in show for that breed.

To me the more she shows her training techniques at these shows, her business will grow. Also, what if she shows her clients dogs? I assume the IRS will let her deduct those show expenses.

Thanks for your help, I think the IRS agent is being a little picky, the cell bill she denied was for only $500.00, but the show and supplies including food is about $5,000.00.

Please help with any ideas to present her case. Thanks again.

Having a hell of a tax season already, divorced couples coming in and trying the claim dependents not entitled to. Should retire? Thanks Again, I was going to try take the EA exam this year after taxes, How was the new one. I've taken it once before, only missed by a couple points. Any study ideas. Thank you, thank you, thank you, Time to Get DRUNK for the evening before the president comes on.

Thank you.

Kevin,

Thank you for taking the time to answer so many of the questions i have posted the past 2 years.

You have been and still are a tremendous help!

I am very grateful for everything.

I hope i can give something back in the future as well.

Have a great tax season.

Will

Thanks for your reply. But can u also guide my for minor younger if he payes salary of more then 5,000.that won't affect kiddie tax right?

Hi Kevinh5, I noticed that last year had participated in a discussion regarding Arbonne and said that you had filed an Arbonne return. My wife sells Arbonne and I am trying to figure out the tax implications. The way I understand it, she takes samples of the product and displays them at parties. She has no standing inventory, other than these few samples. At the parties, she takes orders for products, and the people buying from her pay her directly. She places the order with Arbonne and pays for it. The amount she pays Arbonne for the product is what she sells the product for, there is no markup. She receives a 1099-Misc with a commission amount, as well as a check mark in box 9.

How do I account for the product sold? Do I list all of her purchases on Schedule C as COGS and put the price she paid on line 36 Purchases, or on line 38 materials and supplies, or somewhere else? She only purchases product when she places an order so should the inventory lines at 25 and 41 of schedule C be $0? I appreciate any help in this confuing matter. Jim8krop 08:05, 3 February 2008 (CST)

SH loaned S Corp monies and the company dissolved before repayment, can the SH put it on their personal return as a Capital Loss and How?

I am having a situation with a dissolved S corporation. My boss has a client that loaned 30K to her company and dissolved the company before any monies was repaid to her. Can she carry it over to her personal tax return as a capital loss and HOW? What is the IRS code for this?

Did search on Casemaker

Kevin: I just did a search on Casemaker (free service to Ga. Bar Members) which includes GA statutory and case law. I entered "Divorce Twelve Months", "Divorce one year", and "Final Decree time", and got nothing of interest. I did hear of the law, or proposed law, you mention. To be sure, you can call the office of Legislative Counsel.CrowJD 11:04, 10 February 2008 (CST)

Separate Maintenance Proceeding

The item my client has starts as a Separate Maintenance proceeding. It's a strange bird, and is not the same thing as your normal separation agreement. This is an explanation I ran across that attempts to explain. You may have already run into this yourself when you were in GA. Notice that it does not start off as a divorce, but as a distinct Proceeding for Separate Maintenance:

What is a Separate Maintenance Procedure or a “Bed and Board Divorce?” Perhaps the most frequently spoken of, but least understood form of marital separation is the “formal judicial separation” which is sometimes called a legal separation. The “formal judicial separation” or legal separation is initiated as a lawsuit by one spouse against the other. The name of the lawsuit that results in a formal judicial separation varies in different states. It is often called a “bed and board divorce” and in Georgia is called a separate maintenance proceeding. The legal assistance office will not be able to assist you with a separate maintenance action other than to advise you of the benefits and procedure involved in this action. From a Ft. Mcpherson Newsletter. CrowJD 11:22, 10 February 2008 (CST)

HELP ME PLEASE??

I am having a situation with a dissolved S corporation. My boss has a client that loaned 30K to her company and dissolved the company before any monies was repaid to her. Can she carry it over to her personal tax return as a capital loss and HOW? What is the IRS code for this?

Thanks

Hi Kevin,

My name is Michelle and I am a CPA. I started my own practice this year and realized there were a lot to learn. I already tasted the sweetness of digging more into tax field!

I would really appreciate if I can get your advise from time to time.

Thanks!

--YZCPA 11:04, 11 February 2008 (CST)

I read some of your DPAD discussions from Spring 2007. They helped, but I have two situations I'm stumped on. Would a landscaping business qualify under the construction heading? Would a business that does custom metal plating qualify as a manufacturer?

Thank you for any assistance.

GregC

DPAD

Thanks for your help. Can you recommend any resource materials or website for this topic? I normally have better luck with my research but the "how" to determine which business' qualify seems vague everywhere I look. Your explanations are the best I've found.

Thanks again

GregC

Hello Kevin i am looking for answers on income averaging.

If one was to recieve a onetime settlement can it be ajusted with income averaging? I was told that was an option in the past but I can not find any info today.


Thank You Dplask22:09, 12 February 2008 (CST)

LLC-what is best to do

hikevin, HELP HELP HELP My first client is LLC (california). HE started business august 2006. He Never filed taxes for business. He did file his 2006 personal tax return without business. He does not know that LLC can go on sch C. He did not make election for corporation on form 8832 either. He is drawing w-2 for him and for employees. his revenue for 2007 is around $400000, and income is around $10000 after all expenses. What is best way for him. To amend his W-2, payroll reports, 1040 and stay as SCH C; or to file 8832 to be treated as corporation. I heard, LLC is not a good choice; california can charge extra tax on corporation income. mk-accountant

deletion

Now why did you delete your comment, Kevin?Natalie 18:49, 16 February 2008 (CST)Natalie

I understand. It is sometimes hard to communicate when the other person is not able to hear the voice inflections or see the body language. Sometimes I'll type a couple of sentences, and then I end up deleting them even before I post them.Natalie 19:29, 16 February 2008 (CST)Natalie

EXCEPTION TO PENALTY FOR HIGHER EDUCTION

You responded to my question about the exception for the penalty of a retirement withdrawal from a retirement account. Does the penalty exception apply to a withdrawal from a retirement plan at work as well as an IRA account? form 5329 instructions do not specify an IRA but it looks like Pub 970 states early IRA distributions.

Help Required

Hello KevinH,

My name is Shiraz Khan. I have noticed from the forum that you give classes on how to grow ones practice. I have recently distributed about 50000 newspaper inserts in a local newspaper only to receive couple of calls. One would imagine I would have a better response. But it was pathetic. however, can you pitch in some insight from your experience as to some steps i could take to make some money this tax season. I would hate to lose all the advertising dollars I have already invested Any help will be greatly appreciated. Thanks

how to check answer

Kevin I did post the question regarding LLC-what is best to do. I don't know, did you already answer my question or not. I am new to website. How to check that my question being answered. any one can answer this. thanks MK-accountant

QPAD

Hi Kevin,

After reviewing the boards, it appears as though you are the resident expert on this topic!  :) Any words of wisdom? At the seminar that you attended last year, were you told about the necessity to use 263 if you want this deduction?

All of our clients are exempt from 263. Do you have a methodology for implementing 263?

Thanks!

Mary Anne

solicitation letters to specific professions

Hi Kevin,

It's Will.

How are you doing this tax season?

I was wondering if you could give me your feedback on something.

I just purchased a list of home addresses of nurses who earn over 80K in my region, and i have been sending them letters trying to personalize my letter to attract their interest (for example, i bought stickers of a nurse with the phrase "this nurse needs help with taxes" and placed the sticker on the front of the envelope, to peak their interest, and in the letter gave a very brief explanation of some of the deductions that apply to their field, just to give you on example

My question is: do you see any possibility of success with these types of lists?

I did a new homeowners list last year, sent out about 700 over 2 years, got about 5 calls, and this year did actually get 2 new clients that are good returns to have.

part of my problem is i get all good ideas in the middle of tax season and my timing is off sending the letters. Next year I plan to send the nurses and homeowners a letter in early January, followed up by a postcard in early February.

As always, thank you for your expertise.

Will

Thank you for your reply Kevin!!

I really appreciate it.

your "hurt" feelings

Are you going to ask Tim to have FrankP removed from the site?Natalie 17:39, 29 February 2008 (CST)Natalie

It just bothers me when someone makes a blanket statement like that. I guess we can monitor him. Maybe he won't be back.Natalie 17:46, 29 February 2008 (CST)Natalie

Kevin, Yes I got forms, Thanks very much.

Just for you

http://www.girlscoutcookies.org/

North Carolina PY and Nonresident

Client moved from NC to VA 6/1/07. Client continues to work in NC after moving to VA.

Questions:1 Do I file 2 NC returns - one for Part-Year and one Non-Resident or do I combine them on one return?

2 If combined, how would I compute the out-of-state credit for VA return on NC Non-Resident portion of the tax?

Thanks for the NC help.

Smog

On Bipolar

Kevin: my father was a manic depressive too. The only thing that kept us from rack and ruin was the fact that he had started a business in the 50's that had done well, and the employees managed to conspire to keep him out of there when he was in the manic phase. Two years after he was finally started on Lithium, he died. I was 17, but it was much harder on my sister at 11.

I can now see the humor in certain aspects of it. Coming home from school on the bus one day to find sheep grazing in my front yard in your typical subdivision. lol. True story. The toughest thing for any human being to face is when there is no one to blame.CrowJD 09:35, 3 March 2008 (CST)

nol carryback or carry forward 

This is  davis chang. I just posted an nol question. I am not sure I post it right. I have not  seen any one answering it. The question is if I elected to carry back NOL for year 2002,my total NOL for year  2002 exceeding total of preceding 5 year's  total income,can i carry the balance to year 2006 or future under the new 5 year rule  ? Can you answer this question for me  sincerely davis

Deletion of §645 thread

'Tis poor taxdue doing the deleting. Obviously embarrassed.♫

Last Rebate Question

Hey Kevin - After seeing that last rebate question. that Bozo Punching Bag can't come too soon, can it? TomTaocpa 14:28, 5 March 2008 (CST)

Me too!

Which is why I can't stand the arrogance of those initials. They mean nothing usually...not even minimal competence.

nurse letter follow up

Hi Kevin,

I got my first call today from the nurse letters I previously mentioned. Actually, it was a male nurse who gave my letter to his female nurse friend who called me.

She is scheduled to meet me at my home office for a tax meeting on Monday, so it looks like I have a decent chance at 2 new nurse clients and then I can put your great advice you gave me into effect. (part yr CA part yr NJ resident, lives in NJ now works in nyc)

Since i finaly got a nibble, i will try to muster up enough energy to send some more letters out tonight :)

Thanks a lot for your time and suggestions!!!!!

Will

hey

hi kevin

i was reading a post somewhere that you posted up saying you were located in asheville nc and that triggered something in my memory. I told my partner and she looked up in our records, im pretty sure we attended an estate seminar you put on in atlanta a couple years ago. It was good stuff. Anyway, small world i suppose to run into you here. If you ever put on any more seminars please let me know. We are trying to gain knowledge in the 1041 prep area, we get asked to do more every year.

thanks scott

seminar

black hair, beard, sat in the back (i always sit in the back) lol. scott and my practice is in va

You were on fire this morning

Kevin- Good for you. I took a few minutes to do this. Maybe Tim can highlight the DIY and this so people will get the message. TomTaocpa 09:53, 8 March 2008 (CST)

Discussion:TO TAX PROFESSIONALS - PLEASE READ

Green dinosaurs

Kevin, Thanks so much for the laughter today. Although I had a hard time getting work done, what with checking your posts. My son in particular appreciated the green dinosaur. Had to show it to him about ten times. Pierce Pierce 18:03, 8 March 2008 (CST)

your were rare form

Was there a full moon behind all the clouds? I tried to post this yesterday, but just then my power started to flicker & went out for a while from a storm. Some sort of cosmic intervention? You were pretty snappy & and pretty funny yesterday! FWIW - I am not offended in any way.

name calling

Kevin, Just to clarify, my post on name calling not being professional was definitely not directed at you. I thought you handled the personal attack quite well.

Candyass psuedo intellectual? Hardly.

I appreciate all your comments on tax issues and have learned a lot from them.

Cheers.

Don't you wanna wear a hat?

Kevin: how the hell did you remember the solar thru 2008? You know, your brain does expand to more than available size. Don't become like me, and not be able to wear a hat! lol. Sorry, I just will never be a movie star with that tiny head (small brain). Thanks for your spring of knowledge, you are appreciated! CrowJD 11:11, 10 March 2008 (CDT)

Kevin,

saw your name below my question and I really don't know if that means you will answer a question or what, but I will give it a try.

Have clients (partnership) who want to deduct home office expense. I have not had this situation before, but my understanding is that their personal residence is not an entity of the partnership and therefore cannot be deducted on 1065. However, I spoke to a distant family relative who is a CPA and he said that we could probably do this on 2106 and Sch A as an itemized deduction. But the thing that bothered me was that he said "probably" indicating that he was not sure.

Anyhow, your opinion would be appreciated.

Tony

my email address is tonya030@optonline.net

Thanks

Kevin

First, thanks for all the input you give. I have 2 questions. 1) What are some good topics to give talks on? I am going to look to give a series of talks but do not know the best topics. 2) Do you know anything about HDVest?

Thanks,

Dusty

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