Video 76 ( 11.12.19)
Weekly Questions: Video 61-80 • 16m
1. I may have misunderstood your comment this week in the 1040 class. When a taxpayer does a qualified charitable distribution transfer from an IRA to a charity-is it taxable? And do you keep a charity deduction?
2. Watched the business in depth class and you mentioned depreciation on leasehold improvements-is it the life of the lease or what?
3. Client demands that we allow Paychex to issue a W-2 to them-they are a sole proprietor. What do we do?
4. Can I setup an SEP for a client that is covered by a 401k at regular job?
5. What is the SALT deduction inflation amount for this year?
6. When a realtor gets their license do they automatically qualify as a real estate professional and get to deduct rental losses?
7. I have a client doing the Medi-Share health care sharing ministry insurance for their employees. Where does this get deducted?
8. Can I rollover my HSA to an IRA?
9. I heard you say you can move your HSA to another trustee-how do we do that and is there a form for it?
10. When does the new age 72 RMD rule go into effect?
11. Where do I get a written computer security plan-I just heard I am supposed to have one.
12. Do you have a VPN you recommend? (Private Internet Access)
13. I heard you say in FT Collins yesterday that UBER mileage reports are wrong-how?
14. Will you guys be doing a class on Senator Warren’s Medicare for All stuff?
15. I have a married client living in Germany. He works for IBM, she works for a German bank-does he qualify for the foreign earned income exclusion? Does she?
16. When you payoff a reverse mortgage is the interest deductible?
17. My client retired this year at 62 and started Social Security-Someone told them they are no longer allowed to work-this cannot be crrect-is it?
18. Do I still need to do the portability election when 1 person of a married couple passes away? I mean really, with an 11 million exclusion is there any reason to do it?
19. Can the client roll their RMD to a different IRA?
20. I have a guy who is buying homes, fixing them p and then selling them as a contract for deed to people who can’t get conventional mortgages-makes a fair amount of money. Is this a capital gain or a 4797 business asset sale?
Up Next in Weekly Questions: Video 61-80
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Video 75: (10.29.19)
1. S corporation owns two strip centers which are consistently at full occupancy (4-5 tenants each) and generate a profit. Husband/wife 100% owners manage all aspects of the property. There is no payroll and distributions of $100,000 are taken out annually. Question- is the S Corp requirement to ...
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Video 74: (10.22.19)
1. If you have an S-Corporation with losses in excess of income, can you still elect the amount of the loss that you want to take with the new TCJA rules?
2. Please let me know how to treat Simple IRA set up for a minister. The plan is 100% funded by the Church, which is incorporated as a corpora... -
Video 73: (10.08.19)
1. One of my associates said that I don’t need to even enter investment expenses on a K-1 into the software anymore since it is not deductible. Is that right?
2. Where do I get a copy of the Internal Revenue Code you are always talking about?
3. Have there been any changes on the clergy housing c...