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halpalms
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Activity Feed for halpalms
- Got Cheered for Re: How to start investing. February 19, 2020 3:04 PM
- Posted Re: completing Schedile C for spouses in same business with 2 1099s? on Business & farm. October 13, 2019 3:10 PM
- Posted Re: Business or Personal Loan Conundrum on Deductions & credits. October 13, 2019 3:07 PM
- Posted Re: I make handmade soaps, lotions, ect. Where do I record tools like molds, mixers, bowls ect? on Business & farm. October 13, 2019 3:05 PM
- Posted Re: Converted sole proprietor to S corp on Business & farm. October 13, 2019 3:03 PM
- Posted Re: Dividend VS K1 on Deductions & credits. October 13, 2019 3:01 PM
- Posted Re: Section 1231 carryover - where do I put this in TT? on Business & farm. October 13, 2019 2:58 PM
- Got Cheered for Re: As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil). October 12, 2019 5:54 PM
- Got Cheered for Re: As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil). October 11, 2019 5:59 PM
- Posted Re: As per Article 179 can I deduct 100% cost of used Tesla X 6000 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil) on Business & farm. October 11, 2019 1:32 PM
- Got Cheered for Re: Have 5 rent homes. Spent $ on items for 2. Should I answer Y or N to each TT question, "Did you buy any items for any ... rental property that cost $2,500 or less ...?. October 9, 2019 10:45 AM
- Got Cheered for Re: Expense value of gutted materials for residential rental renovation?. October 9, 2019 5:29 AM
- Posted Re: Where do i put my truck payments, and fuel expenses and repairs? i'm using turbotax self employed. or do i need to upgrade? the sec. fo exp. here says no heavy trucks? on Deductions & credits. October 8, 2019 10:47 PM
- Posted Re: Mixed use (personal/business) vehicle on schedule C since 2005. Destroyed Hurricane, insurance paid. How to report, on Schedule C or Form 4684? on Business & farm. October 8, 2019 10:44 PM
- Posted Re: Do I have to report Capital Gains on Sales that are less than 50 cents each that were made to cover investment expenses? on Investors & landlords. October 8, 2019 10:41 PM
- Posted Re: Have 5 rent homes. Spent $ on items for 2. Should I answer Y or N to each TT question, "Did you buy any items for any ... rental property that cost $2,500 or less ...? on Investors & landlords. October 8, 2019 10:40 PM
- Posted Re: Can I deduct 100% cost of used Tesla X 600 lbs for 2019 for my business?(More than 50% business use. 2019 limits are up to 1 mil) on Business & farm. October 8, 2019 10:37 PM
- Posted Re: Real Property and Assets Legal Settlement Agreement on Deductions & credits. October 8, 2019 10:28 PM
- Posted Re: Expense value of gutted materials for residential rental renovation? on Investors & landlords. October 8, 2019 10:25 PM
- Posted Re: TAX BENEFITS: If I am self employed sole proprietor and the company makes 100,000 + 100,000 from my husbands salary versus paying myself 20,000 through a S-Corp ($20,000, i.e. 20% is my approx profit) . I'd like to lower my total taxes and lower my student loan payment. on Business & farm. October 8, 2019 10:23 PM
October 13, 2019
3:10 PM
mkj?
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October 13, 2019
3:07 PM
sorry.....you can't write off money that was borrowed and then paid back personally.
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October 13, 2019
3:05 PM
those are supplies, other business property or machinery and equipment.
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October 13, 2019
3:03 PM
in TT dispose of the assets transferred to the s corp....mark that you disposed of the SCH C business in TT.
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October 13, 2019
3:01 PM
s corps don't issue 1099DIV so it's a K-1......if you pay salaries to non-participating partners the corp has to cough up payroll taxes and they add to your expenses.....better off splitting the 31k.
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October 13, 2019
2:58 PM
Sec 1231 losses
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October 11, 2019
1:32 PM
2 Cheers
For new and pre-owned vehicles put into use in 2018 (assuming the vehicle was used 100% for business): The maximum first-year depreciation write-off is $10,000, plus up to an additional $8,000 in bonus depreciation. For SUVs with loaded vehicle weights over 6,000 pounds, but no more than 14,000 pounds, 100% of the cost can be expensed using bonus depreciation. Sec 179 IRS TCJA
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October 8, 2019
10:47 PM
business vehicle expense.....choose heavy truck over 13000 lbs
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October 8, 2019
10:44 PM
4684 for federal disaster losses
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October 8, 2019
10:41 PM
you can add them all together
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