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  • Posted in: Tax Talk

    In lieu of a daily proration, you can "split the books" and compute a short year up to death. Still only one K-1 each but the annual net profit is divided based on actual performance. In this case Q1 would ...

  • Posted in: Tax Talk

    Robert the biggest problem is Covid so these K-1's and there is 5 of them all in restaurants so she passed in March so profits until then, after that big big losses due to the shut down of covid. So ...

  • Posted in: Tax Talk

    I hope everyone is finding relieve from the heat dome! A long time client, 80 years old has been working as a school bus driver full-time.  His income includes W-2, SSA income and RMD from his IRA before ...

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