Recent content by davew9128

The answer is yes.

In California, if the OP has comprehensive or collision coverage on a regular vehicle, the coverage carries over onto a rental.

When I first studied to take the Tax Court entrance exam, it was stressed that I would almost certainly never see any "Perry Mason moments" in a Tax Court trial. That being said, while attending a trial session locally, I recall one petitioner (a doctor caught up in a bogus tax shelter scheme)...

And for those of us in the profession who do this for a living and already told you the answer...

If you have a CPA preparing these K1-s, why aren't you asking THEM this question? Because as a tax professional, if I were preparing the return and I had that information available, it would be disclosed appropriately. Because, you know, professional. It sounds to me like you've never done...

Ask the person(s) who prepared said K-1.

I read posted Tax Court opinion every day, and it amazes me how often when even after being given not so subtle warnings from the judge about potential penalties for advancing these arguments, that taxpayers will up to and through the conclusion of the trial advance frivolous arguments (usually...

I don't like to get caught up in credential boasting and male sex organ wagging. The CPA is right but the prohibition is also codified in Title 31 of the US Code. The problem you run into in a situation like this is defining what is considered US Treasury bond interest. Some states (including...

Accrued market discount is considered to be interest. Not providing citations because I don't research for free (even when I already know the answer).

Actually the underpayment penalty for not paying in sufficiently towards the tax liability during the year is effectively interest on the tax balance.

Well she got a yellow pre-warrant notice card in the mail today from a specific town showing a hand written amount and a hand written note stating the specific charge. I looked it up and it's a Class C misdemeanor and the stated fine owed is roughly $250. I'm loathe to tell her to pay it where...

I can tell you that as part of tax planning this year, I recommended Roth 401(k) contributions rather than regular ones because the tax benefit of the deduction for the traditional contribution wasn't worth it where the taxpayers were in the lower tax brackets.

Oh no. I suspect if we internalize Keith Morrison's voice we can envision...something.

I can confirm it wasn't this agency after searching.

I posted my viewing of her google map locator history in another post. As for her remembering, I'll just say that to call her geographically challenged is an insult to people who struggle with maps. Having driven cross country myself once, I could tell you exactly what major road I was on in...