tag:blogger.com,1999:blog-43472001477383496702024-03-13T08:50:37.382-05:00Austin Business LawyerA business law blog published by the business, tax, and health care lawyers at AttorneyBritt - Gary L. Britt, CPA, J.D. Our blog presents commentary and information regarding the laws and regulations applicable to individuals, corporations, partnerships, and limited liability companies (LLCs); as they relate to the myriad of business transactions, contracts, and agreements every business owner, shareholder, member, physician, and/or health care provider must consider.AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.comBlogger239110tag:blogger.com,1999:blog-4347200147738349670.post-62212329123040814422021-11-08T16:54:00.004-06:002021-11-09T11:55:46.699-06:00Ahmed Arbery Murder Trial Defendants Try To Claim Defense Of Citizens Arrest<div class="separator" style="clear: both; text-align: left;">
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<p align="left" class="MsoNormal" style="mso-pagination: widow-orphan; text-align: left;">Ahmed
Arbery, was a man killed by two residents of a subdivision in a South Georgia
community. The focus of this comment is strictly limited to the defendants’
claims that they were trying to make a citizen's arrest of Ahmed Arbery when
Mr. Arbery was killed. <br /></p><p align="left" class="MsoNormal" style="mso-pagination: widow-orphan; text-align: left;">I
don't know and for purposes of this comment find it irrelevant whether Mr.
Arbery was or wasn't a burglar who had committed felony burglaries in that
neighborhood in the past.<span style="mso-spacerun: yes;"> </span>Further, for
purposes of this comment I don't know and don't find it relevant to the subject
matter of this comment whether the Defendants are racists looking to get the
black guy jogger.<span style="mso-spacerun: yes;"> </span>My comment is
strictly limited to whether a defense claim of citizen's arrest can apply to
this situation.<span style="mso-spacerun: yes;"> </span>As you will see, I
think the answer is an emphatic NO ! </p>
<p align="left" class="MsoNormal" style="mso-pagination: widow-orphan; text-align: left;">Under
Georgia Law at the time of this incident, a citizen's arrest applicable to the
facts of this matter was only allowed for felonies committed "in the
presence" of the person making the arrest or<span style="mso-spacerun: yes;"> </span>committed "within the immediate Knowledge" of the
person making the arrest.<span style="mso-spacerun: yes;"> </span>In the Arbery
case the Defendants never witnessed Mr. Arbery committing a felony in their
presence.<span style="mso-spacerun: yes;"> </span>Further while they suspected,
rightly or wrongly, Mr. Arbery of having committed crimes in the neighborhood
in the past, these suspicions just don't qualify as "immediate
Knowledge" as defined in the Georgia statute.<span style="mso-spacerun: yes;"> </span> <br /></p><p align="left" class="MsoNormal" style="mso-pagination: widow-orphan; text-align: left;">Immediate
knowledge in the Georgia statute was intended to cover situations such as a woman
walking down the sidewalk when a purse snatcher grabs her purse and she yells
out "Stop that man!<span style="mso-spacerun: yes;"> </span>He just stole
my purse." and hearing that cry and seeing the robber running away another
person stops them and detains them for the police.<span style="mso-spacerun: yes;"> </span>Immediate Knowledge means immediately after the point in time
that the felony is committed.<span style="mso-spacerun: yes;"> </span>It does
not mean knowledge learned from watching a video tape days or weeks after the
events in question occurred.<span style="mso-spacerun: yes;"> </span>Finally,
the citizen's arrest statute does NOT and Never has authorized a citizen to act
days and weeks after an incident to enable such citizens to pursue a suspect,
detain that suspect, and question that suspect.<span style="mso-spacerun: yes;"> </span>That is clearly the job of Police. <br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-gmp5knd8HzM/YYmqeyDQ5_I/AAAAAAAAObo/qKu64fmIFrwsDu55vxd_Tb0TW81LwPCAwCLcBGAsYHQ/s276/images.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="183" data-original-width="276" height="183" src="https://1.bp.blogspot.com/-gmp5knd8HzM/YYmqeyDQ5_I/AAAAAAAAObo/qKu64fmIFrwsDu55vxd_Tb0TW81LwPCAwCLcBGAsYHQ/s0/images.jpg" width="276" /></a></div><p></p><p align="left" class="MsoNormal" style="mso-pagination: widow-orphan; text-align: left;">Yet
in the Arbery case the Defendants are trying to argue that since the Defendants
believed or had a suspicion that Mr. Arbery may have committed a felony which
the Defendants did not witness in their “presence” and of which they
did NOT have "immediate Knowledge" that they decided to pursue Mr.
Arbery, detain him, and question him. <span style="mso-spacerun: yes;"> </span>So,
while the Defendants may not be guilty of intentional murder of Mr. Arbery, it
seems to me they had a legally improper intent which led to Mr. Arbery's death.
<span style="mso-spacerun: yes;"> </span>I just don't see how the Defendants
escape a guilty verdict on either involuntary or voluntary manslaughter (Sometimes
called 2nd Degree or 3rd Degree murder in some States). </p><p class="MsoNormal"> </p>
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-54177337295459510932021-10-21T10:44:00.012-05:002021-10-27T11:39:42.500-05:00Democrats Raise Proposed IRS Bank YEARLY Reporting Threshold To $10,000 From $600
<p align="left";"><b>By David Lawder (<b>Notes are by Gary L. Britt, CPA, J.D.</b>)</p>
</p><div class="separator" style="clear: both; text-align: left;" zoompage-fontsize="16">
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<p>WASHINGTON (Reuters) - Senior Democrats in Congress have agreed to raise
their proposed tax reporting threshold for bank account inflows and outflows to
<b><u>$10,000 a year</u></b>, with exemptions for wage income, from an earlier
proposal of $600 that drew criticism for being too intrusive. </p>
<p style="margin-left: 24pt; text-align: justify;"><b><i>(NOTE: Since this
is NOT $10,000 per transaction. It is a law requiring banks to report
accounts and account detailed information to the IRS for any account that has
more than $10,000 in deposits or withdrawals <u>in total during the calendar
year</u>. This will mean every person who has any kind of small business
income will be subject to a warrantless search by the IRS of their banking
records. It is a direct attack on the entire lower and middle class in
this country. It is NOT as the democrats claim aimed at
billionaires. If this were aimed at Billionaires the threshold would need
to be more than $100,000,000 dollars per year.)</i></b></p>
<p>U.S. Senate Finance Committee Chairman Ron Wyden on Tuesday said the new
$10,000 Internal Revenue Service reporting threshold, to be included in
Democrats' sweeping "reconciliation" social spending and tax hike
legislation, was chosen after consultations with the U.S. Treasury because it
is a level frequently used in other bank reporting requirements.</p>
<p style="margin-left: 24pt; text-align: justify;"><b><i>(NOTE: Here they
deliberately try to confuse the reader into thinking this new law would be
about reporting TRANSACTIONS of $10,000 or more. And that is just a lie
by both democrat Senator Ron Wyden AND the news media making uncritical reports
of this lie. This law says report bank accounts that have more than
$10,000 in deposits or withdrawals IN TOTAL during the calendar year!!!)</i></b></p>
<p>These include requirements for banks to report <u>daily aggregate cash <b>transactions</b>
of $10,000 or more under anti-money laundering rules</u>. </p>
<p>Democrats' initial proposal for banks to report inflows or outflows of bank
accounts of more than $600 annually drew sharp criticism from Republicans for
targeting tiny transactions and opposition from banking and other lobbying
groups who charged it would raise financial privacy concerns. </p>
<p><u>The proposal does not identify individual transactions, but gross annual
inflows or outflows to help the IRS identify where wealthy taxpayers who do not
rely on regular "W2" wage income may be hiding opaque source of
business or investment income. </u></p>
<p style="margin-left: 24pt; text-align: justify;"><b><u>(NOTE: The
democrats and the media think wealth taxpayers are taxpayers who deposit more
than or withdraw more than $10,000 in total during an entire calendar year.
That is BS of course.)</u></b></p>
<p>Wyden and Senator Elizabeth Warren said the revised proposal would exclude
W2 wage income from the inflows and outflows data reporting requirement. Many
Americans have their paychecks automatically deposited into their bank accounts.
</p>
<p>Wyden said the revised proposal would potentially raise "hundreds of
billions of dollars" by catching tax evaders, but declined to provide a
specific estimate. </p>
<p>"This is about wealthy business owners at the tippy top of the top.
That's where the unpaid taxes are," he told reporters on a conference
call. </p>
<p>'TAX GAP' </p>
<p>U.S. Treasury Secretary Janet Yellen on Tuesday endorsed the proposal,
saying it would make it harder for wealthy Americans to hide sources of income
from taxation, allowing the IRS to target them for audits. </p>
<p>The Treasury estimates that the cost of tax evasion among the top 1% of
taxpayers exceeds $160 billion annually, part of a "tax gap" between
taxes owed and those collected estimated at more than $7 trillion over a
decade. </p>
<p>"Today's new proposal reflects the Administration's strong belief that
we should zero in on those at the top of the income scale who don't pay the
taxes they owe, while protecting American workers by setting the bank account
threshold at $10,000 and providing an exemption for wage earners like teachers
and firefighters," Yellen said in a statement. </p>
<p>In a new statement on tax compliance proposals, the Treasury said financial
accounts with money flowing in and out that totals less than $10,000 annually
are not subject to any additional reporting. </p>
<p>"Further, when computing this threshold, the new, tailored proposal
carves out wage and salary earners and federal program beneficiaries, such that
only those accruing other forms of income in opaque ways are a part of the reporting
regime," the Treasury said. </p>
<p>The department also said that financial services firms could report the
total aggregate inflows and outflows from accounts rounded to the nearest
$1,000 to further protect data privacy.</p>
<p style="margin-left: 24pt; text-align: justify;"><b><u>(NOTE: More
lies. It zeros in on the middle class NOT the top 1%).</u></b> </p>
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-52051467722887442742021-09-10T13:59:00.006-05:002021-09-16T11:06:58.305-05:00More About AttorneyBritt (Call Or Text 512-481-2886)<p></p><h2><span style="font-weight: normal;"><span style="font-size: medium;"><a href="https://www.texasbusinesslawyer.biz/" target="_blank">AttorneyBritt, Gary L. Britt, CPA, J.D.</a>, is an Austin, Texas business lawyer and CPA with 35 years experience.<br /></span>
<span style="font-size: medium;"><br /></span>
<span style="font-size: medium;"><span style="color: #101112;">AttorneyBritt helps businesses and business
owners form their LLCs, corporations, and partnerships; draft their
operating, shareholder, and partnership agreements;
manage, structure, and enforce their business contracts and agreements;
write and review their business purchase and sale agreements; protect
their assets; prosecute and defend their lawsuits; do
their estate planning; draft their wills; and successfully transfer
their wealth to future generations.</span></span></span></h2><h3><span style="font-weight: normal;">If you are a business owner in Austin, Texas count on us to be your
dedicated legal team. For high quality professional business law
representation from a dual professional attorney
and CPA, without the high hourly rates of a large law firm, <u>call or text</u> <a href="tel:5124812886"><span style="color: #1018a8; text-decoration: underline;">(512)
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-51641153236343632302020-12-28T13:47:00.002-06:002020-12-28T13:50:09.279-06:00"Last-Minute” Year-End 2020 Tax-Saving Moves For Individuals<h2 style="text-align: left;" zoompage-fontsize="24"><span style="font-size: large;" zoompage-fontsize="24">There are only a few days left to go before the year ends, but
here are some actions you may take before the end of the year
to improve the your tax situation for 2020 and beyond.</span></h2><p zoompage-fontsize="16">
</p><div class="separator" style="clear: both; text-align: left;" zoompage-fontsize="16">
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<i zoompage-fontsize="16">Consider Biden's proposals.</i> As the year comes
to an end, it is hard to predict what, if anything, that Mr. Biden has
proposed will become law and take effect in 2021. Many believe that
taxes will have to be raised after the economic effects of the pandemic
are tamed, to pay for the increased federal spending caused by the
pandemic. But enacting tax legislation of any sort is likely to be a
slow process and could very conceivably not affect 2021 taxes.<p zoompage-fontsize="16"></p><p zoompage-fontsize="16">
In any case, here are some of Mr. Biden's most noteworthy tax proposals:</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16"><i zoompage-fontsize="16">Tax increase proposals</i></b>
</p><ul zoompage-fontsize="16"><li zoompage-fontsize="16">
Raise the highest individual income tax rate to 39.6% from 37%.</li><li zoompage-fontsize="16">
Cap itemized deductions for the wealthiest Americans at 28%.</li><li zoompage-fontsize="16">
End favorable capital gains rates, including those rates on dividends, for anyone with income of more than $1 million. </li><li zoompage-fontsize="16">
Eliminate basis step-up at death, accompanied by taxing all appreciated investments at death.</li><li zoompage-fontsize="16">
Dropping the estate and gift tax exemption to its pre-Tax Cuts and Jobs Act level.</li></ul><p zoompage-fontsize="16">
<b zoompage-fontsize="16"><i zoompage-fontsize="16">Tax decrease proposals.</i></b>
</p><ul zoompage-fontsize="16"><li zoompage-fontsize="16">
$8,000 tax credit to help offset the costs of child care.</li><li zoompage-fontsize="16">
Exclusion for student loans that have been forgiven.</li><li zoompage-fontsize="16">
A refundable tax credit for low- and middle-income workers who
contribute to IRAs and employer-provided retirement savings plans.</li><li zoompage-fontsize="16">
Catch-up contributions to retirement plans for caregivers of any age who leave the workforce for at least a year.</li><li zoompage-fontsize="16">
A $5,000 tax credit for family caregivers.</li></ul><p zoompage-fontsize="16">
<span style="font-size: medium;" zoompage-fontsize="18"><b zoompage-fontsize="18"><i zoompage-fontsize="18">Solve underpayment of estimated tax/withheld tax issues.</i></b></span></p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Have an extra amount of withholding in order to solve an underpayment of estimated tax problem.</i>
Employees may discover that their prepayments of tax for 2020 have been
too small because, for example, their estimate of income or deductions
was off and they are underwithheld, or they failed to make estimated tax
payments for unanticipated income, such as gains from sales of stock.
Or they may have an underpayment of estimated tax because of the
additional 0.9% Medicare tax and/or the 3.8% surtax on unearned income.
To ward off or reduce an estimated tax underpayment penalty, employees
can ask their employers to increase withholding for their last paycheck
or paychecks to make up or reduce the deficiency. Employees can file a
new Form W-4 or simply request that the employer withhold a flat amount
of additional income tax. Increasing the final estimated tax payment for
2020 (due on Jan. 15, 2021) can cut or eliminate the penalty for a
final-quarter underpayment only. It doesn't help
with underpayments for preceding quarters. By contrast, tax withheld on
wages can wipe out or reduce underpayments for previous quarters
because, as a general rule, an equal part of the total withholding
during the year is treated as having been paid on each quarterly
estimated payment date.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ S-5248.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Take a retirement plan distribution in order to solve an underpayment of estimated tax problem.</i>
An individual can take an eligible rollover distribution from a
qualified retirement plan before the end of 2020 if he or she is facing a
penalty for underpayment of estimated tax and the extra withholding
option described above is unavailable or won't sufficiently address the
problem. Unless the taxpayer chooses no withholding, the withholding
rate for a nonperiodic distribution (a payment other than a periodic
payment) that is not an eligible rollover distribution is 10% of the
distribution. The taxpayer can also ask the payer to withhold an
additional amount using Form W-4P. The taxpayer can then timely roll
over the gross amount of the distribution, as increased by the amount of
withheld tax, to a traditional IRA. No part of the distribution will be
includible in income for 2020, but the withheld tax will be applied pro
rata over the full 2020 tax year to reduce previous
underpayments of estimated tax.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ S-5248.</p><p zoompage-fontsize="16">
<span style="font-size: medium;" zoompage-fontsize="18"><b zoompage-fontsize="18"><i zoompage-fontsize="18">Charitable donations.</i></b></span></p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Use IRAs to make charitable donations.</i> Taxpayers who have
reached age 70½ by the end of 2020, own IRAs, and are thinking of making
a charitable gift should consider arranging for the gift to be made by
way of a qualified charitable contribution, or QCD—a direct transfer
from the IRA trustee to the charitable organization. Such a transfer
(not to exceed $100,000 for all such transfers for 2020) will neither be
included in gross income nor allowed as a deduction on the taxpayer's
return. But, since such a distribution is not includible in gross
income, it will not increase AGI for purposes of the phaseout of any
deduction, exclusion, or tax credit that is limited or lost completely
when AGI reaches certain specified level. </p><p zoompage-fontsize="16">
Taxpayers who have reached age 72 by Dec. 31 normally must take required
minimum distributions (RMDs) from their IRAs or 401(k) plans (or other
employer-sponsored retired plans) by Dec. 31. However, there is no such
requirement for 2020.</p><p zoompage-fontsize="16">
Nonetheless, a QCD before Dec. 31, 2020 is still a good idea for retired
taxpayers who don’t need all of their as-yet undistributed RMD for
living expenses. That’s because a 2020 QCD will reduce the taxpayer's
retirement account balance and thus reduce the amount of the RMD that
must be withdrawn in future tax years. </p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ H-12253.2 et seq.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Charitable donation by non-itemzers.</i> Non-itemizers can deduct
up to $300 of cash charitable donations that they make in 2020. While
the Consoidated Appropriations Act, 2021 (CAA, 2021), if signed into
law, provides for an additional charitable deduction in 2021 for
non-itemizers, to get the $300 deduction for 2020, the donation must be
made before year-end 2020.</p><p zoompage-fontsize="16">
And, because CAA, 2021 does provide for a charitable deduction for
non-itemizers for 2021, taxpayers should consider holding off in making
contributions over $300 for 2020 and making those "excess contributions"
in 2021.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ A-2630.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Higher limit on charitable contributions.</i> In response to the
Coronavirus (COVID-19) pandemic, the limit on charitable contributions
of cash by an individual in 2020 was increased to 100% of the
individual's contribution base. For previous years, the limit was 60% of
the contribution base. The contribution base is a modification of
adjusted gross income.</p><p zoompage-fontsize="16">
While this increased limit was extended to 2021 by the CAA, 2021,
taxpayers should consider increasing 2020 contributions to take
advantage of the increased limit.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ K-3672.4.</p><p zoompage-fontsize="16">
<span style="font-size: medium;" zoompage-fontsize="18"><b zoompage-fontsize="18"><i zoompage-fontsize="18">Retirement plans.</i></b></span></p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Establish a Keogh plan.</i> A self-employed person who wants to
contribute to a Keogh plan for 2020 must establish that plan before the
end of 2020. If that is done, deductible contributions for 2020 can be
made as late as the taxpayer's extended tax return due date for 2020.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ H-10017.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Relief with respect to withdrawal from retirement plans.</i> A
distribution from a qualified retirement plan is generally subject to a
10% additional tax unless the distribution meets an exception under Code
Sec. 72(t).</p><p zoompage-fontsize="16">
2020 legislation provides that the Code Sec. 72(t) 10% additional tax
does not apply to any coronavirus-related distribution, up to $100,000. A
coronavirus-related distribution is any distribution made on or after
January 1, 2020,<i zoompage-fontsize="16"> and before December 31, 2020,</i> from an eligible retirement plan, made to a qualified individual.</p><p zoompage-fontsize="16">
A qualified individual is an individual
</p><ol zoompage-fontsize="16"><li zoompage-fontsize="16"> Who is diagnosed with the virus SARS-CoV-2 or with
coronavirus disease 2019 (COVID-19) by a test approved by the Centers
for Disease Control and Prevention (CDC),</li><li zoompage-fontsize="16"> Whose spouse or dependent (as defined in Code Sec. 152) is diagnosed with such virus or disease by such a test, or</li><li zoompage-fontsize="16">
Who experiences adverse financial consequences as a result of being
quarantined, being furloughed or laid off or having work hours reduced
due to such virus or disease, being unable to work due to lack of child
care due to such virus or disease, closing or reducing hours of a
business owned or operated by the individual due to such virus or
disease, or other factors as determined by the Secretary of the
Treasury.</li></ol> <p zoompage-fontsize="16">
Other relief also applies to coronavirus-related distributions,
including the ability to recognize income over a 3-tax-year period.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ H-11119.</p><p zoompage-fontsize="16">
<span style="font-size: medium;" zoompage-fontsize="18"><b zoompage-fontsize="18"><i zoompage-fontsize="18">Other.</i></b></span></p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Make year-end gifts.</i> A person can give any other person up to
$15,000 for 2020 without incurring any gift tax. The annual exclusion
amount increases to $30,000 per donee if the donor's spouse consents to
gift-splitting. Anyone who expects eventually to have estate tax
liability and who can afford to make gifts to family members should do
so. Besides avoiding transfer tax, annual exclusion gifts take future
appreciation in the value of the gift property out of the donor's
estate, and they shift the income tax obligation on the property's
earnings to the donee who may be in a lower tax bracket (if not subject
to the kiddie tax).</p><p zoompage-fontsize="16">
A gift by check to a noncharitable donee is considered to be a completed
gift for gift and estate tax purposes on the earlier of:
</p><ol zoompage-fontsize="16"><li zoompage-fontsize="16">
The date on which the donor has so parted with dominion and control
under local law so as to leave the donor with no power to change its
disposition, or</li><li zoompage-fontsize="16">
The date on which the donee deposits the check (or cashes it against
available funds of the donee) or presents the check for payment, if it
is established that:
<ul zoompage-fontsize="16"><li zoompage-fontsize="16">
The check was paid by the drawee bank when first presented to the drawee bank for payment;</li><li zoompage-fontsize="16">
The donor intended to make a gift; </li><li zoompage-fontsize="16">
The donor was alive when the check was paid by the drawee bank;</li><li zoompage-fontsize="16">
Delivery of the check by the donor was unconditional; and</li><li zoompage-fontsize="16">
The check was deposited, cashed, or presented in the calendar year for
which completed gift treatment is sought and within a reasonable time of
issuance.</li></ul></li></ol><p zoompage-fontsize="16">
Thus, for example, a $15,000 gift check given to and deposited by a
grandson on Dec. 31, 2020 is treated as a completed gift for 2020 even
though the check doesn't clear until 2021 (assuming the donor is still
alive when the check is paid by the drawee bank).</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ Q-1916.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Watch out for the use-it-or-lose-it rule.</i> Unused cafeteria plan
amounts left over at the end of a plan year must generally be forfeited
(use-it-or-lose-it rule). A cafeteria plan can provide an optional
grace period immediately following the end of each plan year, extending
the period for incurring expenses for qualified benefits to the 15th day
of the third month after the end of the plan year. Benefits or
contributions not used as of the end of the grace period are forfeited.
Under an exception to the use-it-or-lose-it rule, at the plan sponsor's
option and in lieu of any grace period, employees may be allowed to
carry over up to $500 of unused amounts remaining at year-end in a
health flexible spending account.</p><p zoompage-fontsize="16">
Taxpayers thus should make sure they understand their employer's plan
and should make last-minute purchases before year end to the extent that
not doing so will result in losing benefits. In most cases, a trip to
the drug store, dentist or optometrist, for goods or services that the
taxpayer would otherwise have purchased in 2021, can avoid "losing it."</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ H-2417.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Paying by credit card creates deduction on date of credit card transaction.</i>
Taxpayers should consider using a credit card to pay deductible
expenses before the end of the year. Doing so will increase their 2020
deductions even if they don't pay their credit card bill until after the
end of the year.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ G-2436.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Renew ITINs that expire on Dec. 31.</i> Any individual filing a
U.S. tax return is required to state his or her taxpayer identification
number on that return. Generally, a taxpayer identification number is
the individual's Social Security number (SSN). However, IRS issues
Individual Taxpayer Identification Numbers (ITINs) to individuals who
are not eligible to be issued an SSN but who still have a U.S. tax
filing obligation.</p><p zoompage-fontsize="16">
Unlike SSNs, ITINs expire if not used on a return for three consecutive
years or after a certain period. For example, ITINs issued in 2012 and
2013 (i.e., those with middle digits 90, 91, 92, 94, 95, 96, 97, 98 or
99) expire on December 31, 2020.</p><p zoompage-fontsize="16">
Anyone whose ITIN is expiring at the end of 2020 needs to file a
complete renewal application, Form W-7, Application for IRS Individual
Taxpayer Identification Number.</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> For the ITIN program, see FTC 2d/FIN ¶S-1582.1 et seq.</p><p zoompage-fontsize="16">
<i zoompage-fontsize="16">Increase 2020 itemized deductions via a "bunching strategy."</i>
Many taxpayers who claimed itemized deductions in prior years will no
longer be able to do so. That’s because the standard deduction has been
increased and many itemized deductions have been cut back or abolished.
Paying some otherwise-deductible-in-2021 itemized deductions in 2020 can
decrease taxable income in 2020 and will not increase 2021 taxable
income if 2021 itemized deductions would otherwise have still been less
than the 2021 standard deduction. For example, a taxpayer who expects to
itemize deductions in 2020 but not 2021, and usually contributes a
total of $1,500 to charities each year, should consider making a total
of $3,000 of charitable contributions before the end of 2020 (and
skipping charitable contributions in 2021).</p><p zoompage-fontsize="16">
<b zoompage-fontsize="16">Reference:</b> See FTC 2d/FIN ¶ G-243</p>
<p zoompage-fontsize="16"><span style="font-size: 100%; line-height: 140%;" zoompage-fontsize="16"><b zoompage-fontsize="16">For help with your legal needs contact a business, tax, and health care law attorney at the offices of <a href="https://www.texasbusinesslawyer.biz/" rel="nofollow" target="_blank" zoompage-fontsize="16"><span style="color: #0a54a0; text-decoration: underline;" zoompage-fontsize="16">AttorneyBritt</span></a>.</b></span><br />
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<p zoompage-fontsize="16"> </p><div class="blogger-post-footer">Copyright: AttorneyBritt - Gary L. Britt, CPA, J.D.
Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-82640626254725761282020-12-20T01:43:00.009-06:002020-12-21T14:55:00.119-06:005 Stars - Kev's 5 Best Corporate Attorneys In Austin<p zoompage-fontsize="0"><span style="color: #bc0030;" zoompage-fontsize="0"><b zoompage-fontsize="0"><span style="font-size: large;" zoompage-fontsize="32"><span style="font-family: verdana;" zoompage-fontsize="32"> <span style="font-size: x-large;" zoompage-fontsize="32">5 Stars - <a href="https://kevsbest.com/corporate-attorneys-in-austin/#AttorneyBritt-_Gary_L_Britt_CPA_JD" target="_blank" zoompage-fontsize="32"><span style="color: #bc0030;" zoompage-fontsize="32"><span zoompage-fontsize="32"><span style="font-family: verdana;" zoompage-fontsize="32">Kev's 5 Best Corporate Attorneys In Austin</span></span></span></a></span></span></span></b></span><span style="font-size: 18px;" zoompage-fontsize="18"> 🥇</span></p>
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<p style="margin-left: 40px; text-align: justify;" zoompage-fontsize="16"><span style="font-size: large;" zoompage-fontsize="24"><span style="font-family: verdana;" zoompage-fontsize="24"><span zoompage-fontsize="24"><span style="color: blue;" zoompage-fontsize="24"><span zoompage-fontsize="24"><b zoompage-fontsize="24">AttorneyBritt</b></span></span><span style="color: #140b0b;" zoompage-fontsize="24"><b zoompage-fontsize="24"> </b>offers services from professional business attorneys. Attorney Gary L. Britt, CPA, J.D. is experienced in the field of business law. He has represented numerous clients for business cases. A strong negotiator and great intellect comprises his personality. He also serves large companies as a tax advisor and auditor. He is approachable and kind to his clients. The law firm provides excellent services and legal advice. Their services include handling of corporate mergers and partnership and shareholder buyouts. They also specialize in minimizing costs in managing litigation strategies.</span></span></span></span></p><div class="blogger-post-footer">Copyright: AttorneyBritt - Gary L. Britt, CPA, J.D.
Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-89760573197092284362019-05-28T10:54:00.000-05:002019-05-29T11:20:09.877-05:00IRS Issues 2020 Inflation-Adjusted Amounts For Health Savings Accounts<div class="separator" style="clear: both; text-align: left;" zoompage-fontsize="16">
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<b zoompage-fontsize="16">In a new Revenue Procedure (Rev Proc 2019-25, 2019-22 IRB), the IRS has provided the 2020 inflation-adjusted contribution,
deductible, and out-of-pocket expense limits for health savings accounts (HSAs). </b></div>
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Eligible individuals may, subject to statutory limits, make deductible contributions
to an HSA. Employers and other persons (e.g., family members) also may contribute to an HSA on
behalf of an eligible individual. Generally, employer contributions are treated as employer-provided coverage for medical
expenses under an accident or health plan and are excludable from income.
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In general, a person is an "eligible individual" if he or she is
covered under a high
deductible health plan (HDHP) and is not covered under any other
health plan, unless
the other coverage is permitted insurance (e.g., for worker's
compensation, a specified
disease or illness, or providing a fixed payment for
hospitalization). General purpose health accounts, such as flexible
spending accounts (FSAs) and health reimbursement arrangements (HRAs),
constitute "other coverage" that will usually preclude
HSA eligibility. However, exceptions apply for, among other
things, FSAs and HRAs that provide only
certain benefits, such as dental and vision, and those imposing
high annual deductibles.
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HSA distributions not used to pay for qualifying medical expenses generally are included
in income and are subject to a 10% penalty tax.
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For calendar year 2020, the limitation on deductions under Code Sec. 223(b)(2)(A)
for an individual with self-only coverage under an HDHP is $3,550 (up from $3,500
for 2019). For calendar year 2020, the limitation on deductions under Code Sec. 223(b)(2)(B)
for an individual with family coverage under an HDHP is $7,100 (up from $7,000 for
2019).
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plan with an annual deductible that is not less than $1,400 (up from $1,350 for 2019)
for self-only coverage or $2,800 (up from $2,700 for 2019) for family coverage, and
with respect to which the annual out-of-pocket expenses (deductibles, co-payments,
and other amounts, not including premiums) do not exceed $6,900 (up from $6,750 for
2019) for self-only coverage or $13,800 (up from $13,500 for 2019) for family coverage. </div>
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-22056413334193246892019-05-13T22:29:00.004-05:002019-05-13T22:29:52.740-05:002019 IRS Income Tax Deductions For Automobile Costs<div class="separator" style="clear: both; text-align: left;">
<a href="https://attorneybritt.com/resources/$$.jpg" imageanchor="1" rel="nofollow" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="120" src="https://attorneybritt.com/resources/$$.jpg" width="120" /></a></div>
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<u><b>Businesses that use a car or other vehicle may be able to deduct the
expense of operating that vehicle on their taxes.</b></u><br />
<br />
<u><i>Businesses generally
can use one of the two methods to figure their deductible vehicle
expenses:</i></u><br />
<ul>
</ul>
<ul><ul><ul><ul>
<li>Standard mileage rate</li>
</ul>
</ul>
</ul>
</ul>
<ul>
<ul><ul><ul>
<li>Actual car expenses</li>
</ul>
</ul>
</ul>
</ul>
<b>For 2019, here are the standard mileage rates</b> for calculating the
deductible costs of operating an automobile for business, charitable,
medical or moving purposes:<br />
<ul>
<li>58 cents per mile driven for business use</li>
<li>20 cents per mile driven for medical or moving purposes</li>
<li>14 cents per mile driven in service of charitable organizations</li>
</ul>
<b>Of course, business taxpayers always have the option of calculating
the actual costs of using their vehicle rather than using the standard
mileage rates</b>. Here are some facts to help business owners understand
the differences between the two methods of figuring their deductible
vehicle expenses:<br />
<ul>
<li>Businesses that want to use the standard mileage rate for a car they
own must choose to use the standard mileage rate in the first year they
use the vehicle. Then, in later years, they can choose to use either
the standard mileage rate or actual expenses.<br /><br />
</li>
<li>If a business wants to use the standard mileage rate for a car they lease, they must use this rate for the entire lease period.<br /><br />
</li>
<li>The business must make the choice to use the standard mileage rate
by the due date of their return, including extensions. They can’t revoke
the choice.<br /><br />
</li>
<li>A business that qualifies to use both methods may want to figure
their deduction both ways to see which gives them a larger deduction.<br /><br />
</li>
<li>Here are some examples of actual car expenses that a business can deduct:</li>
</ul>
<div style="margin-left: 60px;">
o Licenses<br />
o Gas<br />
o Oil<br />
o Tolls<br />
o Insurance<br />
o Repairs<br />
o Depreciation – limitations and adjustments may apply </div>
<br />
Businesses can see <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNTEwLjU3MzgyODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNTEwLjU3MzgyODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNzQ0MyZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&128&&&https://www.irs.gov/pub/irs-pdf/p463.pdf" rel="noopener" target="_blank" title="">Publication 463</a>, Travel, Gift and Car Expenses, for a full list of actual expenses and how to calculate them.<br />
<br />
<b>More Information:</b><br />
<a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNTEwLjU3MzgyODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNTEwLjU3MzgyODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNzQ0MyZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&129&&&https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2019" rel="noopener" target="_blank" title="">IRS issues standard mileage rates for 2019</a><br />
<a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNTEwLjU3MzgyODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNTEwLjU3MzgyODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNzQ0MyZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&130&&&https://www.irs.gov/pub/irs-drop/n-19-02.pdf" rel="noopener" target="_blank" title="">IRS Notice 2019-02</a><br />
<a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNTEwLjU3MzgyODEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNTEwLjU3MzgyODEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNzQ0MyZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&131&&&https://www.irs.gov/newsroom/small-business-week" rel="noopener" target="_blank" title="">National Small Business Week</a>
<br />
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com1tag:blogger.com,1999:blog-4347200147738349670.post-67858381849082773212019-05-13T17:56:00.001-05:002019-05-13T17:57:49.781-05:00User CSS For Firefox And Thunderbird<h1>
User CSS For Firefox And Thunderbird</h1>
User CSS Contributions For CustomizeMyBird and Custom CSS For FX<br />
<br />
The repository at <a href="https://github.com/JYLD/User-CSS-For-Firefox-And-Thunderbird" target="_blank">https://github.com/JYLD/User-CSS-For-Firefox-And-Thunderbird</a> has user submitted CSS customizations for:<br />
<ol>
<li>The very excellent Firefox and Thunderbird add-ons by Aris-t2 at <a href="https://github.com/Aris-t2">https://github.com/Aris-t2</a> ; and</li>
<li>Other useful CSS contributions for Firefox and Thunderbird.</li>
</ol>
<u><b>If you like Windows 7 or XP and you also like the Windows Classic
XP/Win2000 look on Windows 7, then you may really like what the files
mentioned here can do for you.</b></u><br />
<br />
Note: I prefer the older look of Windows XP/2000 over the Windows 7
Aero interface. Therefore, I use the Classic Windows Theme on Win 7 as
my starting point. Then I add the "Classic Start Menu" available from <a href="http://www.classicshell.net/" rel="nofollow">http://www.classicshell.net/</a> . Then for Firefox I use the "Classic Blue" theme from "ndnenigma" available for Firefox at <a href="https://addons.mozilla.org/en-US/firefox/user/5414873/" rel="nofollow">https://addons.mozilla.org/en-US/firefox/user/5414873/</a>
. This theme is a dark theme for the toolbar, bookmarks toolbar, and
menu bar areas. For Thunderbird on my Windows 7 setup, I use the
CustomizeMyBird and Theme and Font Size Changer add-ons. Plus my own
custom CSS placed in the CustomizeMyBird user CSS window.<br />
<br />
Various standard color choices from add-ons don't work as well as I
would like (colorwise) with my Windows Classic Theme setup. Also, I
like rounded tabs and spacing that is a little bit different from what
the add-ons usually provide.<br />
<br />
Therefore, I've had to modify some of the setup from Custom CSS For FX and CustomizeMyBird to get the look I find pleasing.<br />
<br />
If you don't like the color choices in my CSS it can of course be easily modified.<br />
<br />
If you want to further duplicate my color setup on Windows 7 then
first select the Classic Windows Theme. After that download the
JYLD_Color_Choices.zip file to your computer and then double click the
reg files it contains to add it to your registry. You should save a
copy of your current theme before doing this so you can go back to your
original color choices. Also note that my color choices work on Windows
7 and XP. On Windows 7 you must be using the Windows Classic Theme for
these color choices to have any effect. After adding the color choices
reg file settings to your registry you will have to reboot your
computer for the changes to take effect.<br />
<br />
NOTE: I have no idea how the color choices reg files would affect
Windows 8 to 10, if at all. I don't even know if the Windows Classic
Theme is available on Windows 8 to 10.<br />
<br />
<span style="font-size: 100%; line-height: 140%;"><b>For help with your legal needs contact a business, tax, and health care law attorney at the offices of <a href="https://www.texasbusinesslawyer.biz/" rel="nofollow" target="_blank"><span style="color: #0a54a0; text-decoration: underline;">AttorneyBritt</span></a>.</b></span><br />
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-17789954439619247092019-04-23T11:23:00.003-05:002019-04-23T11:23:32.326-05:00Six Things Taxpayers Should Know About The Sharing Economy And Their IRS Taxes<div class="separator" style="clear: both; text-align: left;">
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<div style="text-align: left;">
<b>From renting spare rooms and vacation homes to car rides or using a
bike…name a service and it’s probably available through the sharing
economy. </b><br />
<br />
<u><b>Taxpayers who participate in the sharing economy can find
helpful resources in the IRS <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&128&&&https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center" rel="noopener" target="_blank" title="">Sharing Economy Tax Center</a>
on IRS.gov. </b></u><br />
<br />
<br />
<u><b>Here are six things taxpayers should know about how the sharing economy might affect their taxes:</b></u><br />
<br />
<b>1. The activity is taxable</b>. <br />
Sharing economy activity is generally taxable. It is taxable even when:<br />
<ul>
<li>The activity is only part time</li>
<li>The activity is something the taxpayer does on the side</li>
<li>Payments are in cash</li>
<li>The taxpayer receives an information return – like a Form 1099 or Form W2</li>
</ul>
<b>2. Some expenses are deductible</b>. <br />
Taxpayers who participate
in the sharing economy may be able to deduct certain expenses. For
example, a taxpayer who uses their car for business may qualify to claim
the standard mileage rate, which is 58 cents per mile for 2019.<br />
<br />
<b>3.</b> <b>There are special rules for rentals</b>. <br />
If a taxpayer rents out their home or apartment, but also lives in it during the year, <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&129&&&https://www.irs.gov/forms-pubs/about-publication-527" rel="noopener" target="_blank" title="">special rules</a> generally apply to their taxes. Taxpayers can use the Interactive Tax Assistant tool, <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&130&&&https://www.irs.gov/help/ita/is-my-residential-rental-income-taxable-and-or-are-my-expenses-deductible" rel="noopener" target="_blank" title="">Is My Residential Rental Income Taxable and/or Are My Expenses Deductible?</a> to determine if their residential rental income is taxable.<br />
<br />
<b>4. Participants may need to make estimated tax payments</b>. <br />
The U.S. tax system is <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&131&&&https://www.irs.gov/payments/pay-as-you-go-so-you-wont-owe-a-guide-to-withholding-estimated-taxes-and-ways-to-avoid-the-estimated-tax-penalty" rel="noopener" target="_blank" title="">pay-as-you-go</a>.
This means that taxpayers involved in the sharing economy often need to
make estimated tax payments during the year. These payments are due on
April 15, June 15, Sept. 15 and Jan. 15. Taxpayers use <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&132&&&https://www.irs.gov/forms-pubs/about-form-1040-es" rel="noopener" target="_blank" title="">Form 1040-ES</a> to figure these payments.<br />
<br />
<b>5. There are different ways to pay</b>. <br />
The fastest and easiest way to make estimated tax payments is through <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&133&&&https://www.irs.gov/payments/direct-pay" rel="noopener" target="_blank" title="">IRS Direct Pay</a>. Alternatively, taxpayers can use the <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&134&&&https://www.irs.gov/payments/eftps-the-electronic-federal-tax-payment-system" rel="noopener" target="_blank" title="">Electronic Federal Tax Payment System</a>.<br />
<br />
<b>6. Taxpayers should check their withholding</b>. <br />
Taxpayers
involved in the sharing economy who are employees at another job can
often avoid making estimated tax payments by having more tax withheld
from their paychecks. These taxpayers can use the <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&135&&&https://www.irs.gov/individuals/irs-withholding-calculator" rel="noopener" target="_blank" title="">Withholding Calculator</a>
on IRS.gov to determine how much tax their employer should withhold.
After determining the amount of their withholding, the taxpayer will
file <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&136&&&https://www.irs.gov/forms-pubs/about-form-w-4" rel="noopener" target="_blank" title="">Form W-4</a> with their employer to request the additional withholding.<br />
<br />
IRS YouTube Videos:<br />
Your Taxes in the Sharing Economy – <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&137&&&https://www.youtube.com/watch?v=JlS7nxN6mxE&feature=youtu.be" rel="noopener" target="_blank" title="">English</a> | <a href="http://links.govdelivery.com/track?type=click&enid=ZWFzPTEmbWFpbGluZ2lkPTIwMTkwNDIzLjUwNDY1NjEmbWVzc2FnZWlkPU1EQi1QUkQtQlVMLTIwMTkwNDIzLjUwNDY1NjEmZGF0YWJhc2VpZD0xMDAxJnNlcmlhbD0xNzIzNTAxMiZlbWFpbGlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mdXNlcmlkPWdhcnlAYXR0b3JuZXlicml0dC5jb20mZmw9JmV4dHJhPU11bHRpdmFyaWF0ZUlkPSYmJg==&&&138&&&https://www.youtube.com/watch?v=3eGvT-BvvFA" rel="noopener" target="_blank" title="">ASL</a><br />
<br />
<span style="font-size: 100%; line-height: 140%;"><b>For help with your legal needs contact a business, tax, and health care law attorney at the offices of <a href="https://www.texasbusinesslawyer.biz/" rel="nofollow" target="_blank"><span style="color: #0a54a0; text-decoration: underline;">AttorneyBritt</span></a>.</b></span><br />
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com0tag:blogger.com,1999:blog-4347200147738349670.post-76424472148169627862019-04-23T11:06:00.000-05:002019-04-23T11:06:45.619-05:00Physicians, Hospitals, Clinics, And Other Health Care Providers Beware HHS Interpretation Of HIPAA Compliance Rules<div class="separator" style="clear: both; text-align: left;">
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As MD Anderson has learned the hard way over the past couple years HHS' interpretation of Mandatory versus Addressable HIPAA compliance rules and regulations can vary from the business practices of many Physicians, Hospitals, and other Health Care Organizations.<br />
<br />
HIPAA provides many compliance rules that health care organizations must follow. Those must follow rules are commonly referred to as "Mandatory". Mandatory rules and requirements must be implemented to avoid HIPAA compliance problems. There are however another set of rules and requirements that are not listed as Mandatory. Instead these rules and requirements are listed as "Addressable". Addressable rules have been treated by many Health Care Organizations as optional or merely suggestions by the government.<br />
<br />
<u><b>HHS however has made it clear in pursuing large fines against MD Anderson that the Addressable rules and requirements are more mandatory than optional.</b></u><br />
<br />
HHS has ruled in the MD Anderson case that Addressable rules and requirements, specifically in the MD Anderson case the use of encryption techniques to secure electronic protected health care information, are MANDATORY unless the health care organization can demonstrate reasonable reasons why any particular Addressable rule and requirement does not need to be followed.<br />
<br />
In the MD Anderson case a laptop and a few thumb drives were lost or stolen. As a result the unencrypted electronic protected health information was disclosed to unauthorized persons. MD Anderson contended that since encryption was an Addressable rule and requirement it was optional and therefore MD Anderson was not at fault for the unauthorized disclosures.<br />
<br />
HHS says MD Anderson is wrong. HHS says Addressable rules and requirements such as encrypting electronic protected health information is MANDATORY, and NOT optional, unless the health care organization can demonstrate a reasonable basis for why the Addressable rule and requirement in question does not need to be followed.<br />
<br />
HHS ruled MD Anderson had not made any showing of a reasonable basis for not following the Addressable encryption of data rule, and therefore levied substantial penalties on MD Anderson.<br />
<br />
MD Anderson is appealing to the courts, but their legal fight seems to be an uphill battle.<br />
<br />
Best practice for any physician or health care organization is to treat Addressable rules and requirements, such as encryption of data, as Mandatory, unless they have some very strong and reasonable reasons why any specific Addressable rule and requirement does not need to be followed.<br />
<br />
<span style="font-size: 100%; line-height: 140%;"><b>For help with your legal needs contact a business, tax, and health care law attorney at the offices of <a href="https://www.texasbusinesslawyer.biz/" rel="nofollow" target="_blank"><span style="color: #0a54a0; text-decoration: underline;">AttorneyBritt</span></a>.</b></span><br />
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Austin Business Lawyer And CPA | Contracts And Litigation</div>AttorneyBritt - Gary L. Britt, CPA, J.D.http://www.blogger.com/profile/07545853243566594951noreply@blogger.com1