HDTenEightyP/NetNews huggingface dataset:
From: John Wyman <LIBJCW%SUVM.BITNET@SHSU.edu>
Newsgroups: misc.taxes
Subject: Can we change the subject?
Date: Thu, 16 Apr 1992 16:52:42 EDT
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

At the risk of starting another listserv war, can we please change the
subject?  I'm tired of reading about the Libertarian party, and all other
parties.  Similarly with utopian ideas about taxation.
Lets get back to helping each other.  :-)


    John Wyman, Research Computing Services, 120 Machinery Hall
    Syracuse University, Syracuse, NY 13244-1260 (315-443-1144)
                     (LIBJCW@SUVM.ACS.SYR.EDU)
From: kev@osf.org (Kevin Till)
Newsgroups: misc.taxes
Subject: Japanese American Corp. pays *no* tax
Date: 10 Apr 92 18:59:36 GMT
Article-I.D.: osf.1992Apr10.185936.1040
Organization: Open Software Foundation

I'm surprised that I haven't seen any posting so far today. According to 
yesterday's Primetime, many Foreign Corporation( especially Japanese) get away
with paying no(or little) US Federal Tax by playing Price Transfer game.
-- 
Kevin T. Till	
System Engineering
Open Software Foundation
From: aa473@cleveland.Freenet.Edu (James Brown)
Newsgroups: misc.taxes
Subject: Re: FW: news release: abolish IRS
Date: 6 Apr 92 23:32:54 GMT
Article-I.D.: cwns1.9204062332.AA25541
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List


I always thought the Libertarians were kind of kooks.  Now that I
have seen their "Non-public" platform I find I agree with them.

Thanks for the information even if it didn't belong on this list.

Jim Brown
Xref: sparky misc.taxes:2236 ga.general:237
From: ges@stiatl.salestech.com (Gerald Sullivan)
Newsgroups: misc.taxes,ga.general
Subject: Flaw in Chipsoft Turbotax reported on CNN 4/12
Date: 13 Apr 92 13:39:51 GMT
Organization: Sales Technologies, Inc.


I only caught part of the report on CNN, so I am unsure about details.
I am sure that CNN reported that using certain schedules and forms of
Turbotax will greatly increase your chances of being audited.

Did anyone else see the CNN program "Your Money" yesterday (Sunday 4/12)?
CNN reported that TurboTax has a bug that will greatly increase your chances
of being audited. According to the report, Chipsoft denies it is a bug. The
IRS differs. CNN reported the schedules and forms with the problem, but I
missed it. I think one of them was schedule D. The other was a form that 
started with a 4. CNN was unclear about which version was affected (windows
or dos), but they did show a picture of the box for the DOS version.

Thanks in Advance,

Jerry Sullivan




-- 
___________________________________________________________________
Jerry Sullivan, Sales Technologies, Inc.  Atlanta,GA 
ges@salestech.com,...uupsi!stiatl!ges I don't speak for my employer.
Withdrawing in disgust is not apathy. Vote none of the above.
From: flowers@lanai.cs.ucla.edu (Margot Flowers)
Newsgroups: misc.taxes
Subject: MacInTax error if more than one home business
Date: 14 Apr 92 22:04:31 GMT
Distribution: usa
Organization: UCLA Computer Science Department
Originator: flowers@lanai.cs.ucla.edu

If you operate more than one home business, there seems to be an error
in the way that MacInTax handles deductions for indirect costs of
operating a home business, on form 8829 Expenses for the Business Use
of Your Home.  In my case, it produced a grossly inflated entry on
Schedule A for home mortgage interest deduction, but it could affect
other indirect costs entered form 8829.  This error results in an
erroneously high deduction and thus erroneously low tax calculation.
Again, this happens only if you have more than one business.

Form 8829 calculates what percentage of your overall home costs are
deductable against your business.  You enter the amount of your home
mortage, and N% ends up being subtracted from your business income,
and 100-N% gets entered on schedule A line 9a.

If there are two businesses operated in the home using different parts
of your home, you end up with two form 8829s, one for each business,
lets call them B1 and B2.  Here is how the home mortgage deductions
seem to be divied up:

	form 8829 for B1:  gets B1% of home mortgage deduction
	form 8829 for B2:  gets B2% of home mortgage deduction
and then schedule A gets:
	(100-B1)% of home mortgage PLUS (100-B2)% of home mortgage !!

Thus, MacInTax ends up deducting (200-B1-B2) percent of your home
mortgage, which is certainly more than you paid and more than should
be deducted after parts of it are deducted against your business.

What I did is simply calculate by hand:
	(100 - B1 - B2) % of the home mortgage interest
and enter that by hand on Schedule A line 9a using an override.

I tried calling Chipsoft but of course their phone was busy.
From: carl@Cayman.COM (Carl Heinzl)
Newsgroups: misc.taxes
Subject: Re: Question on STD car deduction 27.5c a mile
Date: 8 Apr 92 12:30:36 GMT
Distribution: usa
Organization: Cayman Systems Inc., Cambridge, MA
In-reply-to: jedwards@ms.uky.edu's message of 7 Apr 92 11:38:00 GMT
bcc: carl


>"Commuting miles" = miles from your home to the (first) place you work
>during the day plus miles from the (last) place you work during the day
>to your home.

That is why Doctors and Lawyers sometimes keep a small office near
their house.  They stop by the office first thing in the morning and
then after that, all miles are deductible.

Now, if I start a small business myself and operate it from inside my
house, and the first thing that I do every morning is a little work at
my part time business then OFF to my other job, then that would be
deductible since I'm no longer going from "home to work" but from
"business to work".  Sames miles, but I get the deduction :^)

-Carl-
--
Newsgroups: misc.taxes
From: chander@borland.com (Chander Sarna)
Subject: Tax rates for 1992
Organization: Borland International
Distribution: usa
Date: Fri, 17 Apr 1992 00:13:43 GMT

Hi,

Can someone please let me know what are the Federal Tax rates for 1992, for
married filing jointly ? (Upto what number is 15% and upto what is it 28).
If the same info is available for California State Tax, I would appreciate
that too. 

I am sorry if this question has been asked before.

Chander Sarna
chander@borland.com
Newsgroups: misc.taxes
From: kjchang@hplabsz.hpl.hp.com (K. J. Chang)
Subject: income tax return question
Date: Mon, 13 Apr 1992 08:12:12 GMT
Distribution: usa
Organization: Hewlett-Packard Laboratories Palo Alto,CA


Time is running out but my work pile up......

I certainly will try to USmail the return before 4/15/92.
However, I may make mistakes, considering I am occupied by
many other things.

If I find some errors after 4/15/92, what can I do?

Please send your answers/pointers to: kjchang@hplabsz.hpl.hp.com.
Advanced thanks.

-- 
K J Chang, Hewlett-Packard ICBD R & D,                      (())_-_(())
Palo Alto, CA 94304                                          | (* *) | 
Internet: kjchang@hpl.hp.com           a UCLA Bruin  -->    {  \_@_/  }
voice mail: (415)857-4604                                     `-----'
From: hilary.miller@execnet.com (hilary miller)
Newsgroups: misc.taxes
Subject: including forms
Date: 9 Apr 92 03:48:14 GMT
Reply-To: "hilary miller" <hilary.miller@execnet.com>
Distribution: misc
Organization: Executive Networks Information


Graeme Smith, in a message to All on 04-07-92 at 6:12pm, said:

GS/3do I attach the Form 1098 my bank sent me to my return,
   3or do I hold on to it?
   TMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM>

               Hold on to it.


   L A
 I    R        Hilary B. Miller of Greenwich, Connecticut
  H/\Y         CIS: 76040,1743
   s r
---
 ~ DeLuxe} 1.21 #11645 ~ ASCII stupid question - get a stupid ANSI
--
Executive Network Information System   (914) 667-4567
International ILink Host
Newsgroups: misc.taxes
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: DECREASE IN WITHHOLDING
Date: Wed, 15 Apr 1992 23:17:55 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

bes@poe.acc.Virginia.EDU (Barbara E. Scott <bes@poe.acc.Virginia.EDU>) writes:

>Now that the rush of submitting tax returns for 1991 is almost
>over, I would like to find out if anyone knows for sure how
>the decrease in withholding(allowing more spendable cash) will
>affect us tax wise at the end of 1992. I have heard all sort of 
>horror tales such as removal of the standard deduction, higher
>tax tables etc but I have been unable to locate anything in
>writing. Has anyone actually seen what effect this will have on
>the tax payer?

You will have less tax withheld.  If you are withholding tax using
the married rates, you will get $7 extra in each paycheck if you
are paid weekly and $13 extra if you are paid biweekly or twice a
month.  (I don't recall the figure for people on monthly payrolls.)
The figures for single rates are $3 and $7.  You can file a W-4
with your payroll people and ask them to withhold an additional $7
($13, etc.) per pay period to counteract the effects of this
crass political chicanery...

The standard deduction for married filing jointly for 1992 is $6000.
The standard deduction for single for 1992 is $3700.  Each exemption
is worth $2300.  Tax rates remain essentially the same.  The
taxable incomes at which the various rates take effect can be found
in the instructions for form 1040-ES (your library should have such)
or in Volume 3 of 1991 Package X (again, the library may have a copy -
if they don't, your local H&R Block office will).
From: Ron Allan <ALLANR%GUVM.BITNET@SHSU.edu>
Newsgroups: misc.taxes
Subject: unsubscribing
Date: Wed, 08 Apr 92 12:27:26 EDT
Organization: Fedtax-L<==>Misc.Taxes Gateway
X-Gateway-Source-Info: Mailing List

Can somebody please tell me how to unsubscribe from fedtax-l?  I have
tried everything our bitnet administrator can think of?



                            Ron Allan
                            Georgetown University
From: erickson@atlas.cs.nps.navy.mil (David Erickson)
Newsgroups: misc.taxes
Subject: Deductibility of points: construction loans & conversion
Date: 14 Apr 92 19:21:44 GMT
Reply-To: erickson@taurus.cs.nps.navy.mil (David Erickson)
Organization: Naval Postgraduate School, Monterey CA

I asked this question to the IRS help line - it must be a tough one,
since I got lots of questions in reply, and no answers:

We financed the construction of our home with a construction loan from
Bank of America.  The loan also financed 40% of the purchase price of
the lot on which we built.  We paid 2 points on the total amount of the
construction loan up front.  The points were reported on a 1098 form as
"points paid by borrower on purchase of principal residence."  Escrow
closed on 11/19/91 and construction began on 11/20/91.

Now that construction is about finished, we need to obtain conventional
financing.  We have the option of converting the construction loan (which
is an ARM) to a conventional loan (which can be an ARM or a fixed rate
loan) if we stay with the same lender.  The lender will charge one point
for this conversion (the 1 point is a processing fee, so I don't believe
that it will be deductible).

However, my question is this: suppose that I elect to get the conventional
financing from a different lender (whose rates are lower than BofA).  Will
the points I am charged by the lender be deductible, or is this loan
considered a refinancing, which makes the points not deductible?

-Dave Erickson
From: nason@pa881a.inland.com
Newsgroups: misc.taxes
Subject: Help on TT woes??
Date: 7 Apr 92 13:34:49 GMT
Organization: Inland Steel Company, East Chicago, IN
Nntp-Posting-User: nason

I caught a news blurb last night about TurboTax and a problem with Sched. D and
one of the forms, I think 4562 (not sure).  By the time I got back in the room
it was over and my wife was not paying attention.  Please post if you know or
heard anything about this.  

Thanks
From: mcgrew@ichthous.Eng.Sun.COM (Darin McGrew)
Newsgroups: misc.taxes
Subject: Re: 15% tax rate for the Rich.  (President Bush's Tax)
Date: 17 Apr 92 00:36:56 GMT
Organization: Sun Microsystems, Mt. View, Ca.
NNTP-Posting-Host: ichthous

weverka@spot.Colorado.EDU (Robert T. Weverka) writes:
>News said he paid $200,000 on $1,300,000 income.

It also said that he gave over half of that $1.3 million away to
a few dozen charities.  That cuts his taxable income in half
right there.  If you give half of your income away to charities,
it will reduce your taxes too.

Darin.McGrew@Eng.Sun.COM          Love is something more stern and spendid
    Soli Deo Gloria!                than mere kindness.  -- C. S. Lewis
From: jgj@ssd.csd.harris.com (Jeff Jackson)
Newsgroups: misc.taxes
Subject: What constitutes a Mortgage?
Date: 7 Apr 92 16:14:25 GMT
Distribution: misc
Organization: I would rather be windsurfing.


Is it possible to borrow from, say, my parents, using my condo as
collateral have have that considered a mortgage for tax purposes?  (Or
does a mortgage have to be a bank loan).  With my parents on fixed
income and interest rates being so low, I would rather make my
mortgage payments to them instead of to the bank, but if the interest
isn't tax deductable, it would be cheaper for me to just give them
some extra money.


--
============================================================================
Jeffrey Glen Jackson  _|_Satan jeered, "You're dead meat Jesus, I'm gonna
jgj@ssd.csd.harris.com |     bust you up tonight."
x5120                  | Jesus said, "Go ahead, make my day."
                   ~~~~~~~~~ -- Carman, "The Champion"
-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
Newsgroups: misc.taxes
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: Perot tax deduction?
Date: Wed, 15 Apr 1992 10:40:51 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

McAldon International Inc. <mcaldon@igc.org> writes:


>If Perot spends $100 million this year running for President, will
>he be able to deduct it from his income on his tax return?  Just
>wondering; Ross hasn't asked me:-)

No.  Political contributions are not deductible.  He might have the
option of lending his campaign the money and recovering it from
contributions and matching funds...
From: wallace@hpscit.sc.hp.com (David Wallace)
Date: Wed, 8 Apr 1992 19:20:23 GMT
Subject: Re: Re: automatic 2% increase on house tax appraisals per year
Organization: Hewlett-Packard, Santa Clara, CA
Newsgroups: misc.taxes

> fittery@arcturus.uucp (Elmer Fittery) /  9:59 am  Apr  3, 1992 /
> My wife just informed me that their is a 2% increase anually on the
> appraisal of our house.  Is this true?  Seems to me that with property
> prices falling over the past few years in california (and the rest of the
> us of a) somebody should start complaining loudly!

In California:
If the market value of your home has fallen below its official appraised
value, you can get it re-appraised.  Many homeowners who bought within the
last two years have done just that.  However, if your official appraised
value is still below the market value, you can expect it to go up by 2% per
year until they meet (if ever).  If you bought in before the last big runup
in prices (in early-mid 1989), you are probably still appraised well below
market value, even with "falling prices."  Much depends on your local
neighborhood market conditions.

Dave Wallace		(dwallace@dtc.hp.com)
From: nanda@kuhub.cc.ukans.edu
Newsgroups: misc.taxes
Subject: does anyone know about treaties??
Date: 17 Apr 92 00:41:53 CDT
Organization: University of Kansas Academic Computing Services

How can I find out if Sri Lanka has a tax treaty with the U.S.?  If it does,
what does the treaty specify?


thanx in advance

Praba

Pmanivas@research.rgsps.ukans.edu
From: tut@cairo.Eng.Sun.COM (Bill "Bill" Tuthill)
Newsgroups: misc.taxes
Subject: underpayment of estimated tax
Date: 14 Apr 92 03:01:31 GMT
Distribution: usa
Organization: Sun Microsystems Inc., Mountain View, CA
NNTP-Posting-Host: cairo

Our withholdings are way under our tax liability, owing to a strange
combination of circumstances-- lower interest rates on our adjustable
rate mortgage, unanticipated investment profits in late December, and
so forth.  So it looks like we'll be slapped with a penalty this year.
However, form 2210 allows you to request a waiver from this penalty.

Several questions:

1. Are you supposed to pay estimated tax on interest income from CDs
and T'bills?  I thought estimated tax was only due on sales of large
blocks of stock.

2. Does anyone have experience with requesting a waiver from penalty
for underpayment of estimated tax?  Are such requests automatically
denied, so that it is a waste of time asking for them?

3. Why are the W4 withholding estimate instructions so screwed up?
Our mortgage should be worth 3-4 standard deductions, yet we seem to
come up short on withholding every year.

Thanks,
Bill
From: leavitt@vision.waisman.wisc.edu
Newsgroups: misc.taxes
Subject: ???FLAW IN TURBOTAX???
Date: 13 Apr 92 21:21:12 GMT
Organization: Waisman Center, University of Wisconsin-Madison

I just read the post about a reported bug in Turbotax.
Help! What is this bug---I use Turbotax and am about to
mail stuff off.

Lewis
From: McAldon International Inc. <mcaldon@igc.org>
Newsgroups: misc.taxes
Date: 15 Apr 92 20:25 PDT
Subject: Re: Perot tax deduction?
Nf-ID: #R:1992Apr15.64051.93@ms.uky.edu:776869063:cdp:1427800041:000:808
Nf-From: cdp.UUCP!mcaldon    Apr 15 20:25:00 1992


|>If Perot spends $100 million this year running for President, will
|>he be able to deduct it from his income on his tax return?  Just
|>wondering; Ross hasn't asked me:-)
|
|No.  Political contributions are not deductible.  He might have the
|option of lending his campaign the money and recovering it from
|contributions and matching funds...

C'mon, how about some imagination?  He's a CEO now; why can't he claim
expenses for trying to get a bigger CEO job, running the USA.  After all,
job searches in the same field are deductible, subject to the 2% AGI rule:-)

                         |        Vote for the environment          |
|    mcaldon@igc.org     |        Vote against Bush/Quayle          |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
From: pearl@spectacle.sw.stratus.com (Dan Pearl)
Newsgroups: misc.taxes
Subject: Medical travel deduction
Date: 13 Apr 92 17:40:09 GMT
Distribution: usa
Organization: Stratus Computer, Software Engineering

Certainly if I travel to a doctor's office and return home, the milage
is deductable at 9 cents per mile.

If I travel to work, but stop at the doctor's along the way, what milage
is deductable?

-- 
------------------------------------------------------------------------------
Dan Pearl  **  Stratus Computer, Inc.  **  pearl@spectacle.sw.stratus.com
Newsgroups: misc.taxes
From: jedwards@ms.uky.edu (Jonathan Edwards)
Subject: Re: Reporting income from a tax-exempt mutual fund
Date: Fri, 10 Apr 1992 16:38:24 GMT
Organization: University Of Kentucky, Dept. of Math Sciences
X-Bytes: 

jlundell@vixvax.mgi.com writes:

>Hi, 

>I currently have a two funds w/ 20th Century -- their Tax Exempt 
>Intermediate and Tax Exempt Long Term mutual funds. It is my understanding
>that only their Long Term fund declared dividends and as such the
>Tax Exempt Intermediate fund does not need to be declared as taxable
>income. Does anyone know why this is???

>I am currently having a difficult time in determining what amount of this
>(if any) that I need to report to my state -- Minnesota. The dividends 
>reported are broken out three ways:

>	1a Gross Div.  1b Ord. Div.  1c Cap. Gains Dist.

>My guess is that since I am from Minnesota I will need to report a certain
>percentage of one of the above columns. Can someone enlighten me on how
>I determine the correct way to do this?????????  

Capital gains distributions are fully taxable by the federal government
and by the states.  It represents profit from the sale of securities.

"Ordinary" dividends from a tax-exempt mutual fund typically represent
interest paid on municipal bonds and passed through to shareholders and
thus is typically exempt from federal tax.  States vary on the way they
treat such income.  Some states exempt interest paid on municipal bonds
issued by any state; others only exempt the interest they pay on their
own municipal bonds; and some are in between (having agreements with
certain states not to tax their municpal bonds).  You'll have to
ask someone from Minnesota who Knows The Answer about this...
From: wallace@hpscit.sc.hp.com (David Wallace)
Newsgroups: misc.taxes
Subject: Re: Extension on the California return ...
Date: 16 Apr 92 23:30:53 GMT
Organization: Hewlett-Packard, Santa Clara, CA

> lcheong@novell.com (Les Cheong) / 12:06 pm  Apr 14, 1992 /
> I've already filed for an extension on my Federal Tax Return for 1991.  Now,
> I need to figure out what to do for my state tax return (California).  I'm
> getting money BACK, so I won't owe any taxes.  I'm also using MacInTax, which
> does not seem to have an Extension Form for the California taxes.  So, my
> questions are as follows:
> 
> (1) If I'm not going to owe any taxes, but rather get money back, do I still
>     need to file a return before April 15th if my Federal is not due until
>     August?
> 
> (1) How do I file for an extension on my California return?  Is there a form,
>     but it's just missing from my MacInTax package?
> 
> Thanks!!
> 
> /LesC

California has actually simplified the extension procedure from the way it
used to be.  If you are owed a refund, you don't need to file anything to
get an extension - you just send in your return within the (extended) time
period, and they give you an automatic extension.  If you owe them, there
is a simple form that you send in with your check on April 15th for the
estimated tax due.  This form was included in our 540 package - it's about
1/4 page long.  The form is mostly just so they can track why you are sending
them a check and so they make sure it gets credited to you when you actually
file.  Check the instructions on your 540.

Now that's *real* tax simplification.

Dave W.
Newsgroups: misc.taxes
Subject: Re: How do u keep track of miles for STD car deduction?
From: gary@cdthq.UUCP (Gary Heston)
Date: Sat, 11 Apr 92 20:47:46 CDT
Organization: Garys' Home for Obsolete Computers

tpradeep@cs.tamu.edu (Pradeep K Tapadiya) writes:

> How does one keep track of the miles covered on business? More
> specifically, how do you prove to IRS that you actually have
> travelled x miles on business? 

Keep a daily log of where you went, and starting/ending odometer 
readings. Otherwise, you'll have no documentation (except perhaps
on long trips, where you can show hotel bills and such), and may
have the deduction deleted.

Gary Heston, at home....
gary@cdthq.uucp
Newsgroups: misc.taxes
From: lcheong@novell.com (Les Cheong)
Subject: Extension on the California return ...
Summary: filing for extension for California state return ...
Organization: Novell, Inc.
Distribution: 'ba'
Date: Tue, 14 Apr 1992 19:06:37 GMT

I've already filed for an extension on my Federal Tax Return for 1991.  Now,
I need to figure out what to do for my state tax return (California).  I'm
getting money BACK, so I won't owe any taxes.  I'm also using MacInTax, which
does not seem to have an Extension Form for the California taxes.  So, my
questions are as follows:

(1) If I'm not going to owe any taxes, but rather get money back, do I still
    need to file a return before April 15th if my Federal is not due until
    August?

(1) How do I file for an extension on my California return?  Is there a form,
    but it's just missing from my MacInTax package?

Thanks!!

/LesC
From: McAldon International Inc. <mcaldon@igc.org>
Newsgroups: misc.taxes
Date: 13 Apr 92 20:19 PDT
Subject: Perot tax deduction?
Nf-ID: #N:cdp:1427800040:000:406
Nf-From: cdp.UUCP!mcaldon    Apr 13 20:19:00 1992


If Perot spends $100 million this year running for President, will
he be able to deduct it from his income on his tax return?  Just
wondering; Ross hasn't asked me:-)

                         |        Vote for the environment          |
|    mcaldon@igc.org     |       And Jerry Brown's flat tax         |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
              
            

Newsgroups: misc.taxes