Subj : Re: Conference Hosts
To   : Barry Martin
From : Daryl Stout
Date : Fri Jan 06 2023 07:35:00

Barry,

 BM> Perhaps they'll take the outer casing to the zero and so you'll be left
 BM> with less mpthing.

  What's mpthing?? Is it less than nothing?? That's what the US is running on
with a $31 trillion plus deficit.

 BM> Might be worth an appointment with a tax preparer.  Not necessarily H&R
 BM> Block, Jackson-Hewitt and the like, but probably more the local groups
 BM> who have some training and do taxes for seniors, generally for free or
 BM> very low cost.

  I checked with my tax preparer, and they said because I took a loss with
selling the car (what I got in selling it, compared to what I paid for in
buying it), I wouldn't have to pay any taxes. 

  I also checked with the county Personal Property Tax Department, and since 
I no longer have a vehicle (and doubt I will ever again), they "closed that
account". I'll still have to pay the real estate tax on the house, though...
but at least it isn't due until October 10. Statements on those won't be
mailed out until mid-March.

 BM> I'd also would prepare a list of potential deductions to offset any
 BM> capital gains tax you may need to pay -- at least you'd be paying less.

  The only ones I have are medical...thankfully, many times, the medical
facility will just "write off" the charges.

 BM> And 'incone averaging' might be another way to reduce/eliminate.

  Well, considering I get the same amount each month on disability, that's
my version of "income averaging". They say "money talks"...mine just waves
"good-bye".

 BM> Though when you purchased from the dealership they reported the sale as
 BM> a gain and paid taxes.  Then when re-purchased they would probably be
 BM> reporting that as a loss So would average out in the eyes of the IRS.

  I had to pay $730 in sales tax to the state to get the car tags after I
bought it (it's around 8% of the total cost paid). But, as noted, the tax
preparer told me I didn't have to worry on that. Also, I told them since
I no longer drive, taking Lyft to and from there (about 35 miles away)
would be prohibitively expensive, they said I could scan in all the items,
create a PDF file, and send it to them. Then, if signature was needed, they
would email that form to me, I'd print it, sign it, scan it in, make a new
PDF, and email it back to them. Then, I pay for the services via my debit
card over the phone. Then, I don't have to make an in person trip to their
office.

Daryl

.... When told to delete cookies, I ate another OREO.
=== MultiMail/Win v0.52
--- SBBSecho 3.15-Win32
 * Origin: The Thunderbolt BBS - Little Rock, Arkansas (454:1/33)

.