Dear JoJo,
Sign me up! Sign me up! I lovvvvvvvvvvvee dark chocolate! Mmmm! My
mouth is watering already!
Janet
--- In taxchat@yahoogroups.com, "JoJo Zawawi" <kuchekesha@...> wrote:
>
> LOL Chuck !!!!!!!!!
>
> Listen, my chocolate is actually pretty low carb. I sweeten it
with agave
> nectar and not much, at that (I like semi-sweet). It's pretty
dark, too.
> If any of you who are on The Chocolate List can't handle Really
Strong Dark
> Chocolate, you'd better let me know !!! :D
>
> Cheers,
> JoJo
> ....................................................................
........
> ....................................................................
........
> ......
> Music: http://www.myspace.com/jojozjojo *
> http://www.new.facebook.com/pages/JoJo-Zawawi/16883556821
> Blog: http://www.mysteriousperson.com/MYSTERIOUSPERSON/thezblog/
>
>
>
> -----Original Message-----
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com]On
Behalf Of
> Chuck Warman
> Sent: Thursday, November 13, 2008 2:44 PM
> To: taxchat@yahoogroups.com
> Subject: RE: [taxchat] Joint venture
>
>
> I think you're intentionally waiting until I start back on the
Atkins plan.
>
>
>
> Chuck
>
>
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On
Behalf Of
> JoJo Zawawi
> Sent: Thursday, November 13, 2008 4:14 PM
> To: taxchat@yahoogroups.com
> Subject: RE: [taxchat] Joint venture
>
>
>
> Ditto -- Thanks Donna AND John for the kind words !!
>
>
>
> Cheers,
>
> JoJo
>
>
>
> p.s. Supposed to be 90 degrees again tomorrow. I renew my promise
to make
> the chocolate after it cools down !!! :D
>
> ....................................................................
........
> ....................................................................
........
> ......
> Music: http://www.myspace.com/jojozjojo *
> http://www.new.facebook.com/pages/JoJo-Zawawi/16883556821
> Blog: http://www.mysteriousperson.com/MYSTERIOUSPERSON/thezblog/
>
>
>
> -----Original Message-----
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com]On
Behalf Of
> John Stevens, Equi-Tax
> Sent: Thursday, November 13, 2008 1:10 PM
> To: taxchat@yahoogroups.com
> Subject: RE: [taxchat] Joint venture
>
> Thanks for the kind words, Donna.
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
> --------------------------------------------------------------------
--------
> ----
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On
Behalf Of
> Donna L. Loeffler, CPA
> Sent: 11/13/2008 2:03 PM
> To: taxchat@yahoogroups.com
> Subject: Re: [taxchat] Joint venture
>
>
>
> Not to mention the fact that you are an excellent writer,
John...and you,
> too, JoJo.
>
> Donna
>
> Donna L. Loeffler, CPA
>
> 936 Church Avenue
>
> St. Charles, MN 55972
>
> (507) 251-8119
>
> dllcpa@...
>
> The information in this message, and any files transmitted with it,
is
>
> confidential, may be legally privileged, and intended only for the
use
>
> of the individual(s) named above. Be aware that the use of any
>
> confidential or personal information may be restricted by state and
>
> federal privacy laws. If you are not the intended recipient, do not
>
> further disseminate this message. If this message was received in
>
> error, please notify the sender and delete it.
>
> IRS Circular 230 Disclosure: Unless expressly stated otherwise in
this
>
> transmission, any tax advice contained herein, forwarded with or
>
> attached to this message was not and is not intended to be used,
nor may
>
> it be relied upon or used, by any taxpayer for the purpose of (1)
the
>
> avoidance of any tax-related penalties under the Internal Revenue
Code
>
> or applicable state or local tax law provisions, or (2) promoting,
>
> marketing or recommending to another party any tax transaction or
>
> tax-related matters that may be addressed herein.
>
>
>
>
>
>
>
>
>
> John Stevens, Equi-Tax wrote:
>
> JoJo,
>
>
>
> I've sensed from your posts over time that you are one embodying an
> adventuresome and eclectic spirit (musician, computer whiz,
chocolatier, tax
> accountant, humorist). I will look at your blog. I did keep a
journal
> during my vagabond days, and maybe some day will have a chance to
put it
> together in something more comprehensive. In the meantime, there
are these
> damn tax returns…
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
>
> --------------------------------------------------------------------
--------
> ----
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On
Behalf Of
> JoJo Zawawi
> Sent: 11/13/2008 12:34 PM
> To: taxchat@yahoogroups.com
> Subject: RE: [taxchat] Joint venture
>
>
>
> Well, John, I learn something new every day !!!
>
>
>
> I spent my teenage years living all over Europe, North Africa and
the
> Caribbean. There's nothing quite like an adventure (or two) !!! I
have
> some of my anecdotes on my blog (address is below). Still have a
pile to
> write up, one of these days when I get to it.
>
>
>
> John, you should write up some of yours !
>
>
>
> Cheers,
>
> JoJo
> ....................................................................
........
> ....................................................................
........
> ......
> Music: http://www.myspace.com/jojozjojo *
> http://www.new.facebook.com/pages/JoJo-Zawawi/16883556821
> Blog: http://www.mysteriousperson.com/MYSTERIOUSPERSON/thezblog/
>
>
>
> -----Original Message-----
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com]On
Behalf Of
> John Stevens, Equi-Tax
> Sent: Thursday, November 13, 2008 10:14 AM
> To: taxchat@yahoogroups.com
> Subject: RE: [taxchat] Joint venture
>
> Arnie,
>
>
>
> I'm turning 66 next year, and have already put in my application
for SS
> benefits. In my checkered past, I lived for years in the hills
making so
> little money working on the local farms and orchards I didn't even
meet the
> tax return filing requirement – completely off the grid. I spent
the winter
> of 84-85 in Mexico and Guatemala (3 ½ months) for a total cost of
$450,
> which included gas for my '67 VW camper van, and all food and
lodging and
> other costs. I have many friends who dropped out 30-40 years ago
who are
> still living in the hills, using solar power, water from the
springs and
> streams, burning wood, farming with horses, etc., etc. Ironically,
lots of
> their kids who were born in tents and teepees and cabins can't wait
to move
> to the cities and get their hands on ipods and Blackberry's, etc.
If it
> were just me, I just might go back to the hills, but with 2 teenage
> daughters at home it's a different story. C'est la vie!
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
>
>
> --------------------------------------------------------------------
--------
> ----
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On
Behalf Of
> Arnold M. Socol
> Sent: 11/13/2008 11:47 AM
> To: taxchat@yahoogroups.com
> Subject: Re: [taxchat] Joint venture
>
>
>
> I already subscribe to International Living and looking for places
to go
> that are affordable, friendly and in the sun. At age 63, the early
social
> security in this current economic environment is making retirement
more and
> more interesting.
>
>
>
> Arnie
>
>
>
> ----- Original Message -----
>
> From: John Stevens, Equi-Tax
>
> To: taxchat@yahoogroups.com
>
> Sent: 11/13/2008 12:41 PM
>
> Subject: RE: [taxchat] Joint venture
>
>
>
> Arnie,
>
> Who knows what they might do in this environment with IRS
returning to its
> aggressive (some might say underhanded) tactics in a revenue-starved
> economy? They tend to emphasize form over substance. As Chuck
says, if
> things keep going the way the IRS (or, should we say Congress?)
wants, we'll
> all be wearing badges. At that point, I'm with Chuck – lemme outta
here!!
> I don't want no stinkin' badges!!
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
> --------------------------------------------------------------------
--------
> --
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On
Behalf
> Of Arnold M. Socol
> Sent: 11/13/2008 10:34 AM
> To: taxchat@yahoogroups.com
> Subject: Re: [taxchat] Joint venture
>
> John,
>
> Do you believe there would be a problem on an audit, if not
reported and
> the details came out? Would any of our former IRS auditors report a
> deficiency of unreported income. Come on, at some point, we have
to go
> beyond the text book and deal with reality and ethics. How can you
before
> God justify having a client pay SE tax and maybe entitled to a
Charitable
> deduction if they can itemize? Not me. What is the risk of
choosing the
> right way over the law?
>
> Arnie.
>
> ----- Original Message -----
>
> From: John Stevens, Equi-Tax
>
> To: taxchat@yahoogroups.com
>
> Sent: 11/13/2008 11:24 AM
>
> Subject: RE: [taxchat] Joint venture
>
> Arnie,
>
> I suppose if they had assigned all rights to the proceeds to
the Church,
> there wouldn't be a reporting problem, and the charitable
contribution would
> be built in (no income to report, and consequently no charitable
deduction
> to report), whereas if they are receiving the sales proceeds
themselves,
> then they are still in control of the money, which means they have
to
> account for it first. Even if they didn't assign the rights to the
income
> to the church, but merely directed that the sales proceeds go
directly to
> the church, they still have control over it (constructive receipt),
and it
> seems to me they would still have an obligation to report – just my
view.
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
>
>
>
>
> --------------------------------------------------------------------
--------
>
> From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com]
On Behalf
> Of Arnold M. Socol
> Sent: 11/13/2008 10:10 AM
> To: taxchat@yahoogroups.com
> Subject: Re: [taxchat] Joint venture
>
> How about running all expenses and receipts thru the books of
the Church
> since nothing is retained by the individuals anyway. I still would
not
> bother to report any of this since the individuals are in effect
volunteers
> and acting on behalf of the Church.
>
> Arnie
>
> ----- Original Message -----
>
> From: John Stevens, Equi-Tax
>
> To: taxchat@yahoogroups.com
>
> Sent: 11/13/2008 11:02 AM
>
> Subject: RE: [taxchat] Joint venture
>
> Robert,
>
> It seems that since the income from the sales went to the 3
> individuals, it would first need to be reported either on a
partnership
> return (but they could elect out of partnership treatment by just
reporting
> their respective shares on Schedule C), or if they consider it a
> not-for-profit activity, reported on line 21, with expenses on
Schedule A
> subject to 2% of AGI limit, and then report the charitable
contributions on
> Schedule A as well, as Donna suggests. I don't think it would be
correct to
> not report the income – my opinion.
>
> John Stevens, EA
> Stevens Tax & Accounting, Inc., dba Equi-Tax
> 1870 - 50th St. E., Suite 8
> Inver Grove Heights, MN 55077
> 651-773-5000
> FAX 651-457-4529
> equitax@...
> www.equitax.net
>
>
>
>
>
>
>
>
>
> --------------------------------------------------------------------
------
>
> size=2 width="100%" align=center tabIndex=-1>
>
> From: taxchat@yahoogroups.com
[mailto:taxchat@yahoogroups.com] On
> Behalf Of Robert Lukey
> Sent: 11/13/2008 9:38 AM
> To: taxchat@yahoogroups.com
> Subject: Re: [taxchat] Joint venture
>
> I would think that this all should be charitable
contributions and
> that no business should be reported. The receipts for sales should
be paid
> directly to the Church and all the out of pocket expenses should be
> considered non cash contributions at cost. Then put mileage in for
the trips
> to the studio and radio stations when promoting.
>
> On Thu, Nov 13, 2008 at 7:54 AM, Donna J. Perrone
> <donnaperrone@...> wrote:
>
> The music director/organist of our church is my client. She
joined
> forces with our 2 cantors, a husband and wife, to produce a CD with
> religious selections and other comforting music. They are donating
all the
> profits to our parish.
>
> This is basically a one time event. I am thinking about how
this will
> be reported on my client's return this year. My first thought is
that the
> income would be on line 21, the expenses on Sch A, subject to 2%,
and the
> profits donated reported on Sch A as a charitable contribution.
Since the
> organist and her husband have a high AGI, they can very well lose
the
> deduction for the expenses.
>
> Any thoughts on this?
>
> Donna Perrone
>
> Donna J. Perrone, EA
>
> East Haven, CT
>
> 203-469-4939
>
> 203-468-2038 fax
>
> IRS Circular 230 Disclosure: Unless expressly stated
otherwise, any
> tax advice contained herein, including attachments and enclosures,
is not
> intended or written to be used, and may not be used, for the
purpose of (1)
> avoiding tax-related penalties under the Internal Revenue Code or
applicable
> state or local tax law provisions, or (2) promoting, marketing or
> recommending to another party any tax-related matters addressed
herein.
>
>
>
>
> --
> Robert Lukey EA CPA
>
> Unless expressly stated otherwise in this communication, this
advice
> is not
> intended to be used, and cannot be used, for the purpose of
avoiding
> federal tax penalties.
>
> This electronic communication (including any attachments) may
contain
> proprietary, confidential or privileged information. This
communication is
> intended only for the use of indicated e-mail addresses. If you are
not an
> intended recipient of this communication, please be advised that any
> disclosure, dissemination, distribution, copying, or other use of
this
> communication or any attached document is strictly prohibited. If
you have
> received this communication in error, please notify the sender
immediately
> by reply e-mail and promptly destroy all electronic and printed
copies of
> this communication and any attached documents
>
> Arnie Socol
> President
> Ways & Means, Inc.
> 845-562-6070
>
> Arnie Socol
> President
> Ways & Means, Inc.
> 845-562-6070
>
> Arnie Socol
> President
> Ways & Means, Inc.
> 845-562-6070
>
------------------------------------
IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.
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