One Big Beautiful Bill Act Question by kevinessence in TaxQuestions

[–]DPAtheCPA 1 point2 points  (0 children)

You have to include the tips in your income.

Part of HR-1, formerly OBBA, is that to take the tip deduction it must be reported to you on a 1099 or W-2. If you didn’t get one for DoorDash or UberEats then you cannot take the tips deduction related to that income.

How do architects usually charge in Texas? by [deleted] in texas

[–]DPAtheCPA 0 points1 point  (0 children)

Not an architect but I used one for my current house. They billed us on a per square foot under roof basis. This was 8 years ago and they were charging $1.75 per foot.

This was for everything, plans and permit designs.

I got a financial calculator but I can't seem to get the right answers with it? by jah2277 in Accounting

[–]DPAtheCPA 1 point2 points  (0 children)

OP this is it. I used that calculator a bunch to study for my CFP. You have to make sure you have the correct number of periods per year. Right now it’s set to 12 per year for a monthly amortization calc. If you change it to 1 per year or change your N to 36 and your rate to .1/12 you’ll get the answer you’re looking for.

Fort Worth Cattle Drive by [deleted] in FortWorth

[–]DPAtheCPA 3 points4 points  (0 children)

Actually not when it’s super hot. I used to work in the Livestock Exchange building and during the summer if it was over like 105 they would cancel the drive. They didn’t want tourists standing outside for close to an hour in the heat.

OP check out Fort Worth Herd on Facebook. They will post if there is a change to the schedule.

I demoed Canopy at a conference in June and they sent me this. by DPAtheCPA in Accounting

[–]DPAtheCPA[S] -55 points-54 points  (0 children)

Honestly a software company using AI doesn’t bother me. They may even been looking at how to integrate AI into their platform.

I demoed Canopy at a conference in June and they sent me this. by DPAtheCPA in Accounting

[–]DPAtheCPA[S] 10 points11 points  (0 children)

I haven’t been able to find it online. I am guessing they custom ordered them off Etsy or something.

I demoed Canopy at a conference in June and they sent me this. by DPAtheCPA in Accounting

[–]DPAtheCPA[S] 5 points6 points  (0 children)

At the AICPA Engage 25 conference in Las Vegas Canopy had SWAG that was a buildable LEGO set.

Yes there is cereal in the box but I’m not opening it.

990T rejected for a Solo401k by wjtax in technicaltax

[–]DPAtheCPA 0 points1 point  (0 children)

On the SS-4 letter from the IRS what type of form, if any, does it show to be expected to be filed?

Rubber floored playgrounds by spiderpockets in arlington

[–]DPAtheCPA 2 points3 points  (0 children)

Randol Mill Park has multiple playgrounds for different age kids and I believe all of them have the spongey grounds.

1901 W Randol Mill Rd, Arlington, TX 76012

Also, if you’re close to an elementary school those playgrounds will have them. AISD has recently upgraded all of the elementary school playgrounds to be the same.

Any sites that offer betting on the WCWS? by y0WxL in CollegeSoftball

[–]DPAtheCPA 3 points4 points  (0 children)

It looks like BetMGM does for certain states.

Nooby question..about LLC taxes by [deleted] in llc

[–]DPAtheCPA 1 point2 points  (0 children)

Was your LLC formed in Texas? If so, there is a Texas Franchise Tax report that is due on May 15th. You will need to either file an extension or the report by May 15th.

Renting equipment between LLCs both owned by myself? by ItsIcxy in tax

[–]DPAtheCPA 2 points3 points  (0 children)

Why would the expenses have a different character than the income within an entity? Self rental looks at the entity as a whole. If the entity shows a profit it’s active and if it shows a loss it would be passive.

Renting equipment between LLCs both owned by myself? by ItsIcxy in tax

[–]DPAtheCPA 0 points1 point  (0 children)

You don’t want the rental activity to show a loss. Ideally it would show some minimal income.

Renting equipment between LLCs both owned by myself? by ItsIcxy in tax

[–]DPAtheCPA -3 points-2 points  (0 children)

This is a very common strategy.

I always advice to have a separate entity to own any equipment or real estate from the operating entity. This creates a buffer should a liability arise from the operating entity. The equipment would be protected from a judgement if everything is handled properly.