Author Topic: any accountants out there that i can ask a question?  (Read 490450 times)

Offline Ephcc90

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Re: any accountants out there that i can ask a question?
« Reply #840 on: March 15, 2016, 05:06:51 PM »

So if not your neighbor, another Yid that sends his or her kids to the same schools as you do. It is a mitzva to do business with another Yid, and I think it is always better to do business with Yidden that share in my values, will support similar moisdos, etc.
For sure.

 I was talking about specifically someone who you interact on a day to day basis where I might not want that person knowing every detail of my finances.

Offline sruly101

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Re: any accountants out there that i can ask a question?
« Reply #841 on: March 15, 2016, 11:17:09 PM »
Is there any issue/penalty filing 2015 taxes (a 1099) a year later?

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #842 on: March 16, 2016, 12:27:07 AM »
Is there any issue/penalty filing 2015 taxes (a 1099) a year later?
If you don't owe any money it shouldn't be a problem.
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Online ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #843 on: March 16, 2016, 11:26:48 AM »
If you don't owe any money it shouldn't be a problem.
Only issue is that until you file, the statute of limitations doesn't start ticking. Once you file, the IRS has 3 years to challenge.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline A3

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Re: any accountants out there that i can ask a question?
« Reply #844 on: March 16, 2016, 11:56:59 AM »
Only issue is that until you file, the statute of limitations doesn't start ticking. Once you file, the IRS has 3 years to challenge.
Or 6

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Re: any accountants out there that i can ask a question?
« Reply #845 on: March 16, 2016, 12:06:41 PM »
Or 6
Where do you get the 6 from?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #846 on: March 16, 2016, 12:17:38 PM »
Where do you get the 6 from?

If you omit more than 25% of your income

Offline A3

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Re: any accountants out there that i can ask a question?
« Reply #847 on: March 16, 2016, 01:08:58 PM »
Or fraud

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Re: any accountants out there that i can ask a question?
« Reply #848 on: March 16, 2016, 02:58:30 PM »
Or fraud
Is it only 6 years for fraud? I thought it never runs out for fraud.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline A3

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Re: any accountants out there that i can ask a question?
« Reply #849 on: March 16, 2016, 03:00:29 PM »
Is it only 6 years for fraud? I thought it never runs out for fraud.
Prolly right.

Offline schneury

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Re: any accountants out there that i can ask a question?
« Reply #850 on: March 16, 2016, 03:31:07 PM »
If I live in NY and have real estate in IL will I get taxed twice?

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #851 on: March 16, 2016, 03:58:32 PM »
Is it only 6 years for fraud? I thought it never runs out for fraud.

Fraud is indefinitely

Offline Ephcc90

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Re: any accountants out there that i can ask a question?
« Reply #852 on: March 16, 2016, 05:31:30 PM »

If I live in NY and have real estate in IL will I get taxed twice?
There is usually a credit for tax paid in other states.

Offline MarkS

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Re: any accountants out there that i can ask a question?
« Reply #853 on: March 17, 2016, 03:48:30 PM »
What is "Materiality Level Calculation" on a income statement?

Where on the income statement does it say that? That exact phrase is not a GAAP term...

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #854 on: March 17, 2016, 03:59:41 PM »
Sounds like a performance materiality calc or something

Offline MarkS

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Re: any accountants out there that i can ask a question?
« Reply #855 on: March 17, 2016, 04:04:07 PM »
Sounds like a performance materiality calc or something
Yes but that wouldn't normally by on the financials at all.

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #856 on: March 17, 2016, 04:06:16 PM »
Yes but that wouldn't normally by on the financials at all.
True.. PM would most definitely not be mentioned

Offline jackofall

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Re: any accountants out there that i can ask a question?
« Reply #857 on: March 17, 2016, 04:06:39 PM »
What is "Materiality Level Calculation" on a income statement?
To me it sound like a calc to establish the level on materiality. Meaning anything below that amount would be classified as immaterial from an audit perspective. Correct, it should not be on the actual financial statements rather on the worksheets.
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Offline ADG

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Re: any accountants out there that i can ask a question?
« Reply #858 on: March 17, 2016, 04:15:53 PM »
To me it sound like a calc to establish the level on materiality. Meaning anything below that amount would be classified as immaterial from an audit perspective. Correct, it should not be on the actual financial statements rather on the worksheets.
Thanks

Offline GettingReady

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Re: any accountants out there that i can ask a question?
« Reply #859 on: March 20, 2016, 05:02:11 PM »
This is cross posted. I moved it here per a member's suggestion.

I've asked this question on different forums but have yet to get an answer. My husband and I retired this year. With current CC apps we can use 2015 tax income. What do we use for next year besides the 3 months my husband has worked in 2016? He's waiting until age 70 for SS, RMDs aren't required yet, dividend income is minimal as most of it is reinvested in Roths or IRAs. We have other money set aside to live on until the SS years start. We live below our means which affects how much we need to withdraw from our portfolio not how much we can withdraw. Feel free to PM me.