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JCBCPA

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Posts posted by JCBCPA

  7. Another IPS Motorsports story

    in Reviews

    Posted

    Make the story short. After talking with Jeff at IPS tonight, the suburban would not start. Dead battery due to broken belt. Jeff went and got the necessary belt and Jason not only loan wenches to me, but also took the time to help me install the belt. Applaud the guys at IPS for going out of their way to help a customer.

  12. taxes question

    in Dumpster

    Posted

    Quick question for the income tax gurus out there. I'm a full time college student, and due to school demands, was unable to have a job this year, not even a summer job. Sooooo...I have no W2. I had no income this year. I lived on government loans. Do I need to file a 1040 anyway? I've filed in the past, but never made more than $7000 a year. My parent's accountant said I don't have to file, but that just doesn't sound right. Thoughts?

     

    http://www.irs.gov/individuals/article/0,,id=96623,00.html

  13. Is this the 1st tax ? thread?

    in Dumpster

    Posted

    Glenn please read up on this subject before offering your advice. I am very aware of the tax laws reguarding real estate.

     

    http://www.taxanalysts.com/www/econpers.nsf/0/f9766709174de384852566da006d2b9c?OpenDocument

     

    You only need to be in the home 2 years non continuous. That is what makes the home owner ocupied in the IRS's eyes. The 500K is a limit that you can claim every 2 years. Any gain made in the tax year is regular taxable income.

     

    http://www.azcentral.com/class/marketplace/homevaluesspring04/articles/0307VHV-tax07.html

     

     

    For al intensive purposes not many people here are going to sell their home for more than 500K. Less than 12 months is not capital gains more than 2 years they pay no capital gains. So again. In this thread, without going into detail if it is owner occupied you do not need to worry about capital gains.

     

    Besides people talk like capital gains is such a bad thing. It is far better than the normal income tax people pay every year.

     

    Sully, In the tax act of 86 you could use the cost of the imporvements to reduce the capital gains paid on the house. In 97 when the tax law was changed to what it is today since most people will not have to pay capital gains they eliminated that as an option because it don;t even have to pay tax on the money 99% of the time.

     

    Glenn please learn how to offer advice to people on the net. There may be someone reading this who wants to move now you having them thinking that they are going to get taxed on this and that. It may be corrected by someone later in the thread but that person may never come back to read that.

     

    Good Advice Greg! :thumbup:

  16. Anyone do taxes (or know someone)?

    in Dumpster

    Posted

    looking to find someone to do some taxes for me. the taxes part isnt whats difficult, as i only need a 1040ez.

    evan

     

    If your taxes are this simple and you not sure of turbo tax, then go to one of the tax services. If taxes are more difficult, own a business, etc., then definitely go to a "professional".

  17. Recent research shows that there are 5 kinds of sex:

    in Pics and Vids

    Posted

    Recent research shows that there are 5 kinds of sex:

     

     

    The 1st kind of sex is called: Smurf Sex. This kind of sex happens when you first meet someone and you both have sex until you are blue in the face.

     

     

    The 2nd kind of sex is called: Kitchen Sex. This is when you have been with your partner for a short time and you are so horny you will have sex anywhere, even in the kitchen.

     

     

    The 3rd kind of sex is called: Bedroom Sex. This is when you have been with your partner for a long time. Your sex has gotten routine and you usually have sex only in your bedroom.

     

     

    The 4th kind of sex is called: Hallway Sex. This is when you have been with your partner for too long. When you pass each other in the hallway you both say "Fuck You".

     

     

    The 5th kind of sex is called: Courtroom Sex. This is when you cannot stand your wife any more. She takes you to court and screws you in front of everyone.

     

     

    Ooops. Don't forget Social Security Sex. You get a little each month, but not enough to live on!

  19. School Tax? WTF

    in Dumpster

    Posted

    Been around since 1981. Not all school district have the income tax. Click on link below, enter your address, and choose 2005 year. Example result from my address below. No rate therefore no school district income tax for me.

     

    School District Income Tax

    Year: 2005

    School District Name: WESTERVILLE CSD

    School District Number: 2514

    Income Tax Rate: 0.00%

     

    Department of Education Number: 045047

    Note: Do not use the Department of Education's school district number when filing your Ohio income tax or employer withholding tax returns.

     

    https://thefinder.tax.ohio.gov/StreamlineSalesTaxWeb/AddressLookup/LookupByAddress.aspx?taxType=SchoolDist

     

    If it does come up with a rate, you owe school district income tax. If the tax was not withheld, let your employer know what school district you live in, so the tax will be withheld in the future.

  20. Z32's?

    in Passing Lane

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