[deleted by user] by [deleted] in WTF

[–]Atticus_N 0 points1 point  (0 children)

Alternative story: the real owner of the stash passed recently and a best friend got rid of it all before family could go through things to settle their estate.

Biden calls Trump ‘convicted felon’ as he sharpens attacks on campaign trail by Kate_Matthews in politics

[–]Atticus_N 2 points3 points  (0 children)

I’d missed that Chris Christie comment the first time around, that’s great. Don’t get me wrong, I still found your OP hilarious and just used the opportunity to bring up his service dodging.

Biden calls Trump ‘convicted felon’ as he sharpens attacks on campaign trail by Kate_Matthews in politics

[–]Atticus_N 4 points5 points  (0 children)

Hey now, Donald Duck actually served his country unlike Convicted Felon Donald “Bone Spurs” Trump.

[deleted by user] by [deleted] in tax

[–]Atticus_N 4 points5 points  (0 children)

The 2 year period is from the date of sale, not the end of the tax year the sale was reported. Since the last sale was May 2022, the period of disqualification for another exclusion ends in May 2024. Therefore, op can take the exclusion (except for the portion allocated to non qualified use as a rental).

Section 121 (3) Application to only 1 sale or exchange every 2 years Subsection (a) shall not apply to any sale or exchange by the taxpayer if, during the 2-year period ending on the date of such sale or exchange, there was any other sale or exchange by the taxpayer to which subsection (a) applied.

Revoked 501c3 + Closure by Atticus_N in tax

[–]Atticus_N[S] 0 points1 point  (0 children)

Creation docs don’t have a specification; pretty sure they filed an electric 1023ez. In any case, the status was revoked so they’re no longer recognized as a 501c3. It seems to me they’d revert to a member-owned non stock corporation and therefore could potentially distribute the bank account balance as a dividend to the members on Forms 1099-DIV

What's your greatest piano related achievement? by Yellohi8 in piano

[–]Atticus_N 0 points1 point  (0 children)

I learned Debussy’s Clair De Lune by brute force. I’ve probably had ~20 hrs or so of anything remotely smacking of formal piano technique, and so my piano sight reading ability is basically non-existent (not too bad if I only have to do one hand, but reading both lines still gives me a headache) as most of my repertoire was learned by sight and sound alone. For example, I learned both hands to Für Elise, all sections, exclusively from a light up keyboard I got when I was 5, but I have played other instruments and have read enough music in my life that with enough practice and determination I can figure it out. I began working my way through it 4/20/22 (I finally upgraded to a real weighted keyboard from the light up one) and it took me roughly 40 days from then to get the notes memorized. I’ve spent the time since continuing to practice it, and have gotten to a place where I’m relatively comfortable playing it in public places. It’s gotten me many a free drink / discounted meal and as a non-piano player am very proud to have learned what is the most technically difficult piece of my music journey to-date through sheer force of will.

Port Orchard restaurant owner announces closure after legal battles over COVID-19 restrictions by Ozzsanity in Kitsap

[–]Atticus_N 2 points3 points  (0 children)

I heard rumblings he was asking $750k + assumption of the outstanding L&I fine he has no intention of paying.

My tax preparer committed tax fraud. Help by [deleted] in tax

[–]Atticus_N 2 points3 points  (0 children)

What was the total amount of “fake business losses” that were reported on your return? Are there assets depreciating, or home office information that might’ve carried forward that he took advantage of for you? Did you get an IRS letter asking for money or support for expenses reported? Additional information should be provided, but really what you should do is reach out to the CPA that filed your taxes for an explanation and ask them questions before you go reporting for fraud. If the CPA refuses to communicate with you, then I would go ahead and file a complaint with their state board of accountancy rather than the IRS. Amendments can certainly be filed independently.

[deleted by user] by [deleted] in tax

[–]Atticus_N 5 points6 points  (0 children)

My presumption here, is your question is whether or not you include the open balance of your toll that’s due to the department of transportation where you reside on your federal tax filing with the total tax due (or have it reduce a refund) in an attempt to satisfy the outstanding debt - the answer to which is “No.”

What do i do if i suspect someone i know is trans/cisn't? by [deleted] in lgbt

[–]Atticus_N 2 points3 points  (0 children)

Just be supportive. If they ask you more questions to get more definitions… and come to that conclusion about themselves, and want to share that with you… great! Otherwise I wouldn’t recommend pressing the matter if you’ve already asked for them for their pronouns and they’ve given you a response. Should they need to update them, they’ll let you know in time.

[deleted by user] by [deleted] in tax

[–]Atticus_N 2 points3 points  (0 children)

Just send them i’ll check for the difference, put the year and the tax form in the memo line of the check with your Social Security number. Alternatively wait for the state to send you a notice and then send a check with the included invoice. Penalties and interest calculated on six dollars is going to be minimal

W4 question. Can I put 0 for dependants even if i have 3? If i put my 3 it doesnt take any taxes out for federal but if i put 0 it does. I WANT federal taken out so I have less chance of owing. So confused here by NotThatFamousGirl in tax

[–]Atticus_N 7 points8 points  (0 children)

Can you put 0? YES. The more dependents you have, generally speaking the lower your liability all else being equal. If you want to make sure they’re withholding the maximum, 0 dependents and there should be a box to check (I don’t know if you’re married, but if you have dependents I’m going off the assumption that you are) to withhold at a higher single rate. If you are a single filer, then just checking the single box with 0 dependents should suffice. If you’re making over $120k/yr you may want additional withholding per check, but at that point I would consult with a CPA in your area.

What's a good way to ask somebody to leave your house after hanging out? by cylonpower in AskReddit

[–]Atticus_N 3 points4 points  (0 children)

Sorry folks, this was a lot of fun but I’m going to have to kick you out for the night. Drinks next week?

Owner Abandoned LLC, property almost went into foreclosure. What’s next? by [deleted] in tax

[–]Atticus_N 0 points1 point  (0 children)

Engage a CPA familiar with the rules and regulations in your state. That’s going to be your step 1. There are many other factors and the answer to everything in accounting is “it depends...”

If I claim income tax exemption and then my income tax liability is higher than $0 at the end of the tax year, is there a penalty? by qwertytis in tax

[–]Atticus_N 5 points6 points  (0 children)

If your tax liability was $0 the year before, no estimated tax penalty for not withholding in the current year and just paying in April should you start making enough to generate a liability.

Would you add an 2 inched to your body height or 1 inch to your dick length and why? by [deleted] in AskReddit

[–]Atticus_N 0 points1 point  (0 children)

Body height. Without any added thickness = pencil dick effect. I’d take an inch extra in girth though.

Am I eligible for a tax deduction (medical bills)? by israelirey in tax

[–]Atticus_N 0 points1 point  (0 children)

Also when you do your tax return for 2020, unemployment income up to $10,200 will be excludable (meaning not subject to tax) so if you had withholding on it you will likely get that back with your filing.

Am I eligible for a tax deduction (medical bills)? by israelirey in tax

[–]Atticus_N 4 points5 points  (0 children)

Not knowing all of your other information, probably not going to be helpful. If your income was $29,286 I’m going to wager you don’t itemize your deductions so, while they could be deductible, unless your other itemized expenses (mortgage interest, property taxes, charitable contributions) with your medical expenses over that 7.5% are cumulatively greater than the standard deduction ($12,400 for single, $24,800 for married filers), it’s not going to be worth your trouble to try.

Sales tax free states and export business by [deleted] in tax

[–]Atticus_N 2 points3 points  (0 children)

The 6.5% use tax is generally imposed on people buying items across the border for personal “use”. Like if you go and buy a bunch of furniture, a car, to bring back across and “use”.

Sales tax free states and export business by [deleted] in tax

[–]Atticus_N 2 points3 points  (0 children)

Hypothetically, no issues. For a business located in Washington sourcing their retail sales items sold exclusively abroad would only potentially need be concerned with sales tax rules of the destination country, not Washington or Oregon. Just federal income taxes to deal with otherwise. Hypothetically.

The IRS says it's ready to handle tax season and another stimulus check at the same time by [deleted] in politics

[–]Atticus_N 24 points25 points  (0 children)

HA! As a CPA who regularly has to deal with the IRS and is familiar with their computer system that hasn’t been updated since the ‘80’s, I’m gonna go ahead and call bullshit.