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What is the IRS class life of of a backup generator

What is the IRS class life of of a backup generator installed in a residential apartment building?

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Robin D.

Vocational, Technical or Trade School

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My Mother claims me as a dependent on her income tax, she is

HiJA: Hello. What seems to be the problem?Customer: My Mother claims me as a dependent on her income tax, she is retired and receives a federal retirement annuity each month, I do not have an income and have medicaid, the medicaid office now wants proof of her income-will I be denied coverage because she claims me? State is Nevada, I am 58yo she is 85yoJA: The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: How does her claiming me as a dependent affect my medicaid eligibility?

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Dr. Fiona Chen

President

Ph.D.

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90 satisfied customers
Thanks! I work NY company-- remotely from my home in PA.

Thanks! I work for a NY company-- remotely from my home in PA. They are taking NY state taxes out of my check although I do not have an office in their NY location. Is this correct?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: They only have one office, in Long Island. I am a remote sales rep from PA. They are not taking PA taxes, just NY state taxes. I've worked for companies like this before and they do not take their state tax, but my PA tax because that is where my office is located.JA: Is there anything else important you think the Accountant should know?Customer: I do not have a desk at the home office and maybe go into the office once a month for meetings. I am completely based in PA, both live and work here.

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Mark Taylor

Certified Public Accountant

Masters

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432 satisfied customers
I am using a drop ship company. I have an online presence

i am using a drop ship company. I have an online presence and nexus is located in NJ. The dropship company warehouse is located in PA, NJ and CA. I signed for sales tax exempt for that drop ship company. I charged my customers living in NJ with NJ sales tax. I added NJ as my jurisdiction. If customers outside of NJ purchased my products online, do I have to charged them with sales tax? Do I have to add more jurisdiction from other states?

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Mark Taylor

Certified Public Accountant

Masters

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432 satisfied customers
Client sent 2553 (in March of 2016) to IRS, but the form was

Client sent 2553 for 2015 (in March of 2016) to IRS, but the form was incomplete.The corporation was started in Sept 15, 2015 and the client was under impression that it was going to be an S-Corp, however, he found out in March of 2016 that the form was never sent out, so he went on and sent the form by filling out himself. However, the form was incomplete - he did not mention the election date nor he put a valid reason for late submission, so IRS sent a letter stating that it will be considered as an S-Corp as of 1/1/2017 (not even 2016)...The question is - is there anything we can do to reverse the IRS decision in this? Can we fill out form 2553 again with valid reason and valid explanation or is there any other form that needs to be filled out.Thank you

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Mark Taylor

Certified Public Accountant

Masters

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432 satisfied customers
A taxpayer files an 83b election in 2015. He is supposed to

A taxpayer files an 83b election in 2015. He is supposed to attach the 83b to his 2015 tax return but inadvertently efiles his return. As a 1040x should not be filed since there is no change in the numbers on his Form 1040, how does he resolve this oversight?

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Mark Taylor

Certified Public Accountant

Masters

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432 satisfied customers
I am a divorced parent. My son turned 19 last december and

I am a divorced parent. My son turned 19 last december and currently attending college. I had sole custody of him up until the age of 15 and the last 3 years of high school his he ended up spending 2/3 of time with dad(shared custody). I am paying 50 percent of college fees. Who claims the tax exemption even though we split his college expenses half way. Appreciate your advise.

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Mark Taylor

Certified Public Accountant

Masters

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432 satisfied customers
My dad gave me a bunch of "junk" before he passed a few

My dad gave me a bunch of "junk" before he passed a few years ago and told me I could sell it if I could get anything for it. Do I have to declare those sales as income ?

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Robin D.

Vocational, Technical or Trade School

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20,648 satisfied customers
I have a piece of land and I was thinking about attracting

I have a piece of land and I was thinking about attracting investors if I set up an assisted care facility. It's not in the best neighborhood and has a large Hispanic population. How much would the government give for assisted care to elderly who don't have much money or family.

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Dr. Fiona Chen

President

Ph.D.

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90 satisfied customers
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