unclelarry wrote:tryingtohelp wrote:it was like $3000- $4000
why not me???
brb going to smoke
OK, your partner received a return for $3 to $4000, shouldn't the return have been to the partnership?
Parnerships don't pay tax. The income or loss is a flow through to the partners individual return. Same for S-Corp. Except with S-Corps the active participants get a W-2 before the bottom line is calc.
who knows...with jesse's dad it could be anything. one thing i'm sure of that it's a way of saving him some money. guy is a highschool drop out and still a millionaire. go figure!
tryingtohelp wrote:boy you sure do know a bunch about taxes tth!!!!unclelarry wrote:tryingtohelp wrote:it was like $3000- $4000
why not me???
brb going to smoke
OK, your partner received a return for $3 to $4000, shouldn't the return have been to the partnership?
Parnerships don't pay tax. The income or loss is a flow through to the partners individual return. Same for S-Corp. Except with S-Corps the active participants get a W-2 before the bottom line is calc.
who knows...with jesse's dad it could be anything. one thing i'm sure of that it's a way of saving him some money. guy is a highschool drop out and still a millionaire. go figure!
toots3928 wrote:who knows...with jesse's dad it could be anything. one thing i'm sure of that it's a way of saving him some money. guy is a highschool drop out and still a millionaire. go figure!
It is usually where the main company is. That is what is listed. The IRS is up on that stuff. They are going to start cracking down again. They already have. They plan to really step it up.
our 1099 from one company here is located in TX with their EIN.
Nothing gets through if the EIN and ST don't match IRS for electronic filing.
It will reject. If you do the return yourself and send it in it gets through but if there is a problem you might not know for about 2 years. Employers do not send W-2's to IRS, they go to SS dept. Then SS transmits it electronically to IRS. Most people do not know this. They think employers send W-2's to IRS.
Thanks skuncle
tryingtohelp wrote:believe me i'm sure him and his lawers have it all figured out!!!!toots3928 wrote:who knows...with jesse's dad it could be anything. one thing i'm sure of that it's a way of saving him some money. guy is a highschool drop out and still a millionaire. go figure!
It is usually where the main company is. That is what is listed. The IRS is up on that stuff. They are going to start cracking down again. They already have. They plan to really step it up.
our 1099 from one company here is located in TX with their EIN.
Nothing gets through if the EIN and ST don't match IRS for electronic filing.
It will reject. If you do the return yourself and send it in it gets through but if there is a problem you might not know for about 2 years. Employers do not send W-2's to IRS, they go to SS dept. Then SS transmits it electronically to IRS. Most people do not know this. They think employers send W-2's to IRS.
tryingtohelp wrote:Thanks skuncle
What's with the frown, that was a compliment.
unclelarry wrote:tryingtohelp wrote:Thanks skuncle
What's with the frown, that was a compliment.
Because I have many talents and none are recognized or acknowledged.
(I have a couple degrees) People just look at the outside. They forget about the mind and heart. That is more important.
found out they want me to work tonight so i'm gonna head on out and spend some time with harley, make dinner and all that fun stuff! have a great one guys. see ya in the am!!!!
