Author Topic: any accountants out there that i can ask a question?  (Read 498270 times)

Offline A3

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2009
  • Posts: 3476
  • Total likes: 98
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile

Offline yakov116

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: May 2014
  • Posts: 1562
  • Total likes: 205
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1081 on: July 25, 2016, 09:32:21 AM »
How much money does one get back / write off for childcare/daycare?
Money talks...mine says goodbye!

Offline AnonymousUser

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2013
  • Posts: 3002
  • Total likes: 13
  • DansDeals.com Hat Tips 0
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1082 on: July 25, 2016, 10:41:22 AM »
If I have an LLC, can i still file taxes with Schedule C?

Offline yitzf

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 2634
  • Total likes: 53
  • DansDeals.com Hat Tips 4
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1083 on: July 25, 2016, 10:53:14 AM »
If I have an LLC, can i still file taxes with Schedule C?

If you are the only partner.

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6091
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1084 on: July 27, 2016, 12:26:30 AM »
I just realized I forgot to pay my estimated taxes that were due on 6/15, I just paid them ASAP. Will the IRS charge me interest and or penalties?



TIA!
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline Dawie

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2015
  • Posts: 1716
  • Total likes: 492
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: KBLM
Re: any accountants out there that i can ask a question?
« Reply #1085 on: July 27, 2016, 10:26:37 AM »
I just realized I forgot to pay my estimated taxes that were due on 6/15, I just paid them ASAP. Will the IRS charge me interest and or penalties?



TIA!
if you are going to owe next year then proabably

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6091
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1086 on: July 27, 2016, 10:34:46 AM »
if you are going to owe next year then proabably
So how do they notify me? I just paid online my regular amount, will they send me a letter asking for the interest? Or will they keep adding and adding on?
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline Dawie

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2015
  • Posts: 1716
  • Total likes: 492
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: KBLM
Re: any accountants out there that i can ask a question?
« Reply #1087 on: July 27, 2016, 10:41:38 AM »
So how do they notify me? I just paid online my regular amount, will they send me a letter asking for the interest? Or will they keep adding and adding on?
nothing can be determined till you file next year, there are some tricks to even out the payments like putting more money in thru a w2 (which assumes even payments)
the tax software will figure the int and pen

Offline yakov116

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: May 2014
  • Posts: 1562
  • Total likes: 205
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1088 on: July 27, 2016, 10:43:53 AM »
How much money does one get back / write off for childcare/daycare?
Bump
Money talks...mine says goodbye!

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6091
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1089 on: July 27, 2016, 10:44:50 AM »
nothing can be determined till you file next year, there are some tricks to even out the payments like putting more money in thru a w2 (which assumes even payments)
the tax software will figure the int and pen
Ok, thanks. Just wanted to make sure that they aren't continuously adding to that interest.
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline A3

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2009
  • Posts: 3476
  • Total likes: 98
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1090 on: July 27, 2016, 02:11:32 PM »
Ok, thanks. Just wanted to make sure that they aren't continuously adding to that interest.
Have you had interest and penalties before?
Can always call or write a letter asking them to abate them.

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6091
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1091 on: July 27, 2016, 08:15:17 PM »
Have you had interest and penalties before?
Can always call or write a letter asking them to abate them.
BH no
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline A3

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2009
  • Posts: 3476
  • Total likes: 98
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1092 on: July 27, 2016, 08:59:17 PM »
BH no
IMHO just file, ignore the interest and penalties(if they come up) wait for a letter from the IRS and call to have it abated or have a professional call for you.

Offline Yehuda25

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2013
  • Posts: 6091
  • Total likes: 78
  • DansDeals.com Hat Tips 9
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1093 on: July 28, 2016, 02:38:03 PM »
IMHO just file, ignore the interest and penalties(if they come up) wait for a letter from the IRS and call to have it abated or have a professional call for you.
Will do, thank you!
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 17673
  • Total likes: 7920
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive Platinum®
Re: any accountants out there that i can ask a question?
« Reply #1094 on: August 19, 2016, 12:44:06 PM »
It might be too late for you, but I am arguing that it doesn't make sense (at least from a tax standpoint, as long as you can have some control as to who gets paid) to be legally married in the US.

I know of a couple that followed my opinion on this, they did not get "legally" married, but are Halachically married. They had their second child in 2015. Each one of them will file 2015 taxes claiming one child. I think that might get them the maximum EIC as well as maxing out on several other items.
Here's another reason not to get "legally" married:
http://www.bloomberg.com/news/articles/2016-08-19/another-good-reason-not-to-get-married-courtesy-of-the-irs
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Triple Canopy

  • Dansdeals Gold Elite
  • ***
  • Join Date: May 2011
  • Posts: 188
  • Total likes: 13
  • DansDeals.com Hat Tips 0
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1095 on: August 24, 2016, 10:36:14 PM »
1) Is there a list of allowable pre-tax benefits?

2) Everyone talks about "writing off" business expenses. But what about paying business expenses from a business account before you pay yourself, is that the same thing?

Offline Jack out of the box

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Oct 2015
  • Posts: 754
  • Total likes: 70
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: ארצינו הקדושה
  • Programs: Chase UR, BA Avios, AAdvantage, UA Mileage Plus, SPG
Re: any accountants out there that i can ask a question?
« Reply #1096 on: August 25, 2016, 03:12:00 AM »
1) Is there a list of allowable pre-tax benefits?

2) Everyone talks about "writing off" business expenses. But what about paying business expenses from a business account before you pay yourself, is that the same thing?

I hope this helps you https://www.irs.gov/businesses/small-businesses-self-employed

Offline yitzf

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 2634
  • Total likes: 53
  • DansDeals.com Hat Tips 4
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1097 on: August 25, 2016, 06:45:37 PM »

2) Everyone talks about "writing off" business expenses. But what about paying business expenses from a business account before you pay yourself, is that the same thing?

Yes
Write off in this context just means that it's a business expense and therefore reduces taxable income.

Offline A3

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Nov 2009
  • Posts: 3476
  • Total likes: 98
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1098 on: August 30, 2016, 12:34:42 AM »
Regarding Insurance requirements, if one was denied Medicaid, but got approved for Medically Needy... (Kind of like a high deductible) is that considered having insurance?

Offline Bh101

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Nov 2010
  • Posts: 766
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: any accountants out there that i can ask a question?
« Reply #1099 on: September 01, 2016, 01:19:12 PM »
I just realized I forgot to pay my estimated taxes that were due on 6/15, I just paid them ASAP. Will the IRS charge me interest and or penalties?



TIA!
you will get a letter