Help! Question About Home Office For Securities Trading LLC

Discussion in 'Taxes and Accounting' started by vinky5, Oct 14, 2022.

  1. Bad_Badness

    Bad_Badness

    File and then do your 2nd consult, then amend if needed. I think the key aspect here is how aggressive you want to be with your filings. Some CPAs do whatever you want, some will advise conservative filing. Personally, I go conservative, because audits are a huge time sink.
     
    #11     Oct 14, 2022
    murray t turtle, smallfil and vinky5 like this.
  2. vinky5

    vinky5

    I don't think you can file an extension on an extension can you? The extension is what is due this Monday, October 17th.
     
    #12     Oct 14, 2022
  3. elite1974

    elite1974

    #13     Oct 14, 2022
    murray t turtle likes this.
  4. vinky5

    vinky5

    #14     Oct 14, 2022
  5. %%
    Good one +good 2.
    IF, trader has say, 20 pages of federal taxes, then simply call some CPAs from the yellow phone book+ ask the CPA what would he charge for 20 pages + then ask that question:caution::caution:
    Most any good pro[ lawyer, CPA ....]will answer those 2 simple question like that.
    Federal tax law changes , but most likely have to pay a gain on that home office,when /if you sell the real estate.[Any IRS audit will have the goal of getting more money from you; so just keep good records. ]
    Any one that gives 10% + is above average + i really dont care about that. Even though some good tax lawyer books have some helpful averages] Home office deduction rules are clear,[but changes year to year] unlike a lot of federal tax law.....
     
    #15     Oct 19, 2022