Bryan It is possible that while not actually filing a bankruptcy petition, your client could be technically insolvent and the cancellation of debt income, might be excludable. An offer in compromise might also be possible if you client does not have much income or assets, IRS could force them ...
Does she have a mortgage on her house? If so, how much is it? Susan SUSAN H. NADLER, CPA Managing Member Susan H. Nadler, CPA, PLLC Accounting and Consulting 328 Vermont Ave. Oceanside , NY 11572 O:516.593.4471 C:917.734.9532 Shnadler1@aol.com ...
walter thank you for the link, i will look into it. regarding mr cohen, I was looking into the insolvency exclusions after Ms Nadler recommended reviewing the cancellation of debt exemption. once again thank you Ms Nadler. the reason the loan balance got so high was that at one point the NYC yellow ...
In my former life 45 years ago, I used to answer many of the sales tax questions submitted by our clients of very large club tax practice. If that law still stands the answer is as follows: 1. NYS does not recognize 501(c)(7) entities as being tax exempt for sales tax purposes. 2. They are required ...
Bryan Not sure how the high debt and FMV got flipped, but your client may qualify for the insolvency exception on form 982. Since, it seems that their debts clearly exceed the value of their assets. I've used it a few times Jerry -- Gerald S. Cohen, CPA cell 516 455-0643 jerrycohe ...
Come meet New York's top hiring managers. Find your next job or internship. Last chance to register ! Here are a few things to help you prepare to make the most of the day. Date: Friday, September 23, 2022 Time: 9:00 AM – 1:00 PM Place: The Conference Center, 130 East ...
The Legislative Update is a monthly email designed to provide our members with insight into how the NYSSCPA is advocating on their behalf. In the Legislative Update , you will find sections that dive deep into the work the NYSSCPA does with government agencies, information on legislative victories, ...
If you're interested in serving on the Nominating Committee, the petitions are now available. Please see details here. ------------------------------ Timothy Twofoot Boulette General Counsel New York State Society of CPAs New York NY (212) 719-8300 The opinions expressed are the views of the author ...
Hello Everyone! My name is Rachael Kharag and I am currently a sophomore at CUNY, York College. I am expected to graduate in the year 2024 with an Bachelor's Degree in accounting and will go further for ...