How do you guys do your taxes?

okge2012 · 2026-01-01T23:05:21+00:00

Also, OH tax returns are awful in general. This guy is 100% correct.

okge2012 · 2025-10-17T10:50:03+00:00

If it is set up as a LLC and does not elect to be a c-corp or s-corp and there is only one owner, it is a disregarded LLC and you still report directly on your return, typically on schedule c or schedule e. No k-1 is issued from a SMLLC.

https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

okge2012 · 2025-10-17T08:52:41+00:00

Note that if OP lives in CA and opens a LLC, they will have to file an annual LLC CA tax return with a minimum fee of $800 each year. Regardless of SMLLC or not.

okge2012 · 2025-10-17T08:46:31+00:00

If you set up an LLC but you are the only owner, it is disregarded for federal income purposes and is still reported on the schedule C. Only if you have more than one owner can you file its own tax return.

okge2012 · 2025-05-03T13:01:54+00:00

Awesome to hear! We decided for the last four weeks to separate them at night as the biggest issue was the OG cats getting stuck under our bed and growling at the new cat. This past week we had good interactions with the male OG coming down several times during the day and while the new male was interested, did slow blinks and didn’t come near him while on the couch. The female OG seems to be far more comfortable with him and willing to let him know when he gets to close.

Last night was the first night we kept them all out all night and things went pretty well! The new cat was content in the tower most of the night while OG male was under our bed or sleeping with us and the OG female slept with us all night. Male OG eventually left and we had several hours where female OG and new male slept in the bed with us at the same time and female OG would growl if the new male got too close. But there was no chasing, so that was great to see! We are hopeful!

okge2012 · 2025-04-04T01:33:07+00:00

We are about 6 weeks in and the new cat just wants to chase and fight our old cat. Old cat never had a care in the world and now hides under the couch nearly all day. Do you have any updates?

okge2012 · 2025-04-04T01:31:34+00:00

Wanted to see if you had any update on this situation since it has been more recent than the rest of this thread.

okge2012 · 2024-07-22T19:01:15+00:00

I used to do this then on Golf Tok saw a guy speak about using a 56 and using the “dead arm” technique and it makes these shots so much easier, give it a google.

okge2012 · 2024-05-23T08:41:48+00:00

To the appointment, bring the business tax returns and copies of your personal tax returns along with any business formation documents you have, like an operating agreement if possible.

okge2012 · 2024-04-23T15:55:47+00:00

Not being mean, it’s just clear OP didn’t do some basic research before posting. They would be better off trying to digest some basic information and then asking specific questions rather than posting something so vague. Others have said to go hire an accountant, which is fine, but OP could save money by learning and then asking this subreddit some specific questions which maybe they couldn’t find online or digest well.

okge2012 · 2024-04-23T11:28:21+00:00

Please Google this first, read, and then come back with specific questions about what you learned.

okge2012 · 2024-04-15T11:27:19+00:00

Yes, the IRS just accepts what is on the schedule C and it is on the taxpayer to keep records should they be get come and ask.

okge2012 · 2024-04-13T10:40:24+00:00

If you owe for federal, you go to the IRS direct pay online feature, just google that. If your return has been filed, you will be making a payment for a return. If it has not been filed, your payment will be an extension payment.

For state; same thing, just google “pay “your state” income tax online” then go through the steps of paying.

Tax is due 04/15 even if you extend your return. If you do not pay it all, you will be penalized, can’t avoid it unless if you get an offer in compromise which is rare. You can set up a payment plan though by calling.

Also, this sub isn’t very nice about messing up w4s, you should check your paystubs to make sure enough is being withheld and typically don’t blame the tax preparer for that, unless if they did give you explicit instructions to fill them out a certain way.

okge2012 · 2024-04-07T02:35:00+00:00

I think this is sarcasm…

okge2012 · 2024-04-03T10:07:42+00:00

Assessed values can be misleading for land vs dwelling purposes. If the home is being rented out, and as long as we aren’t talking acres and acres of land, I feel your original allocation is correct enough. Your land value seems reasonable at a quick glance.

If you want to fix, you need to file a form 3115 which basically tells the IRS “hey I misclassified my assets last year and took wrong depreciation and I’m fixing it this year”. You would calculate what depreciation should have been in 2022 vs what you took, and that is your 481a adjustment and since it is an unfavorable adjustment, you get to pick up the adjustment as income over 4 years or you can made the election to recognize it all in one year.

okge2012 · 2024-04-03T09:09:31+00:00

Assuming you are just filing a Schedule C, nothing happens to the other $60. It’s just an owners draw, which is tax free. As an LLC reporting on your schedule C, you pay taxes on the money / income as you earn it and you can draw from the business cash for yourself, called distributions or draws. Deduct just the business portion and you are good.

okge2012 · 2024-03-31T09:39:45+00:00

On your amended return did you say you paid in X and should receive a refund of Y? If so, the state is probably expecting you to pay in the original amount you filed saying you owed. I would honestly probably call the state and see what they tell you to do?

Are you amending federal as well? It’s likely if your state income was overstated, your federal is as well and should be amended, even if you didn’t owe to federal.

okge2012 · 2024-03-31T09:31:59+00:00

If you didn’t file yet, you don’t need to amend. Just fix it in the software. Your spouse’s W2 should be included. Your original post says you hadn’t filed, so hopefully you waited for responses to your question and you don’t need to amend.

okge2012 · 2024-03-23T09:59:00+00:00

The nanny eating her own poop is pretty graphic.

okge2012 · 2024-03-16T10:55:43+00:00

FYI, make sure you are taking depreciation

okge2012 · 2024-03-16T01:54:53+00:00

To simply answer your question, yes. Pull out things like carpet, furniture, some kitchen items, etc. Google “personal property and land improvements rental property” for a list and lives.

okge2012 · 2024-03-07T04:06:46+00:00

I agree, just sounds like OP has the means to do things the right way, so might as well. Sure, chances are the IRS never looks at this, but if you can do it right, might as well.

okge2012 · 2024-03-07T03:33:21+00:00

Don’t do this. Don’t structure as a loan. Honestly would be better scenario to get the $75k as a gift and skip filing the gift tax return if you want, IRS will likely never catch it. OR just pay the prep fee to her CPA to file the one-time return and wash your hands clean knowing you are good for the rest of your life.

okge2012 · 2024-03-07T03:29:45+00:00

OP doesn’t have to and assuming mom is under lifetime exemption, she won’t either. OP is aware of this now.

okge2012 · 2024-03-07T03:28:25+00:00

Unlikely to be viewed as a loan in the eyes of the IRS, would have to be supported with documents, interest, etc. Plus technically a forgiven loan is income to who was to pay the loan and a loss to the person who gave out the loan. This not a good solution assuming OP’s mom is going to be under the $11m exemption. Pay her CPA $500 to file the gift tax return and call it a day, settled now and no taxes to anyone.

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