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#12
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| - quote - > > > My wife recently won a settlement for a client. The
One reason that I, and probably a few others, answer> > > insurance company is paying out the settlement and can make > > > multiple checks. > > > > > My question. Is it possible to have the insurance company > > > make the check out to me instead of my wife so that I can > > > claim the income under my SSN? > > > > > Is that legal? > I think this is another example of a lay person coming here > with what is to him a legitimate tax question, and getting > several snide and condescending remarks as if he were either > a brain-dead moron or a tax-cheat soliciting criminal > collusion. > IMO this is a growing problem here, particularly with a > select few "regular" posters. Perhaps you folks are working > too hard. As a non-pro, I'm probably a bit over-sensitive. > Nevertheless, as a VITA/TCE volunteer during tax season, I > would never consider the snide remarks I see here as > appropriate when working with one of the walk-ins. No matter > what I personally think. > I would like to urge you pros to cut these folks a little > slack. The fact that they come here to ask a question > indicates to me that they are making an effort to handle > what are to them some very complex and confusing issues. > IMO you ought to give them the benefit of the doubt; > especially since most of you pros can't even agree on what > time it is much less a tax issue. (I use this as an example > of tax-issue complexity, not your competence) > My apologies for venting. All of you really provide a much > needed public service and I appreciate it; but I felt that > this really needed to be said. > Now you can direct your snide remarks to me. questions in that manner is that we are trying to get the questioner to think for him/herself. One of the more frequent question/answer sets in this regard is the "My spouse & I want to contribute to our IRA, what is the limit?" Such a question is nearly always answered in such a way to point out that the I in IRA stands for individual. Gary Figure X out which X letters to remove to X e-mail me. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#11
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| David Woods, EA wrote: - quote - > "Vic Dura" <vpdura[at]XXXhiwaay.net> wrote:
Absolutely. But the tax systems can seem so illogical at> > Now you can direct your snide remarks to me. > Bet on it. The question of saying someone else should get > he 1099 so another person can save taxes is so illogical not > to mention patently and obviously wrong.... times, I can understand why someone might come up with something like that. Remember - if assessment of taxes was all based on common sense, nobody would need tax professionals. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#10
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| Harlan Lunsford <hlunsford[at]bellsouth.net> wrote: - quote - > Well, I don't know how snide this is, but when I read your
Well, try reading all the messages in the thread. Perhaps> reply to John Fisher's reply to the OP, I fail to see > anything he said that can be construed as snide. If you > want to apologize, then do so to John. you will get a different impression of the replies, perhaps not. -- To reply to me directly, remove the XXX characters from my email address. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#9
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| Vic Dura wrote: - quote - > I think this is another example of a lay person coming here
Well, I don't know how snide this is, but when I read your> with what is to him a legitimate tax question, and getting > several snide and condescending remarks as if he were either > a brain-dead moron or a tax-cheat soliciting criminal > collusion. > IMO this is a growing problem here, particularly with a > select few "regular" posters. Perhaps you folks are working > too hard. As a non-pro, I'm probably a bit over-sensitive. > Nevertheless, as a VITA/TCE volunteer during tax season, I > would never consider the snide remarks I see here as > appropriate when working with one of the walk-ins. No matter > what I personally think. > I would like to urge you pros to cut these folks a little > slack. The fact that they come here to ask a question > indicates to me that they are making an effort to handle > what are to them some very complex and confusing issues. > IMO you ought to give them the benefit of the doubt; > especially since most of you pros can't even agree on what > time it is much less a tax issue. (I use this as an example > of tax-issue complexity, not your competence) > My apologies for venting. All of you really provide a much > needed public service and I appreciate it; but I felt that > this really needed to be said. > Now you can direct your snide remarks to me. reply to John Fisher's reply to the OP, I fail to see anything he said that can be construed as snide. If you want to apologize, then do so to John. ChEAr$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#8
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| "Vic Dura" <vpdura[at]XXXhiwaay.net> wrote: Snip - quote - > Now you can direct your snide remarks to me.
Bet on it. The question of saying someone else should gethe 1099 so another person can save taxes is so illogical not to mention patently and obviously wrong.... -- David M. Woods, EA Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#7
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| Vic Dura wrote: - quote - > I think this is another example of a lay person coming here
Two real problems here.> with what is to him a legitimate tax question, and getting > several snide and condescending remarks as if he were either > a brain-dead moron or a tax-cheat soliciting criminal > collusion. First, responses on usenet and other electronic discussion groups tend to *seem* more brusque than posters generally intend them to be. A lot of what usually takes place in a face to face communication session, or even a voice phone call, isn't available here--so often the reader will take something more harshly than it was intended, or a remark will read harsher than it should be taken. Second, because this is a group frequented by professionals and used for professional to professional communication, that kind of "in the loop" response is going to take place. And it's difficult to phrase an answer to the particular question that isn't either short and appears harsh (a straight "no" can easily be read to suggest the answer is so obvious it isn't worthy of discussion--though in this case it is almost certainly the correct answer) or having to attach an explanation that either seems to imply a fraudulent intent (the assignment of income cases tend to read that way) or goes even further in suggesting the poster is clueless. In a true face to face interaction, I'd probably give the no answer and then read the client to see which direction I should go next. The client's response would tell me if: a) the client simply wanted the answer and no is good enough; b) the client is interested in the why and will be satisfied by a brief discussion of the "assignment of income" concept; c) the client doesn't particularly care about the legality and his real question was "will I be caught if I do it?"--in which case he's likely a former client <grin> . The problem on usenet is that you can't know which way the poster views the question and there's no way to get feedback. As well, since no one is paid for the answer, sometimes the straight "no" is done simply because it's the most time efficient response. Similarly, those that go to explain do so in a time efficient manner--so their explanation is short and appears terse. And a short explanation of assignment of income is likely to appear to imply fraudulent intent by indicating that the person that earned the income has to report it, and it cannot be "moved" to another person for a tax benefit. I would also note this is a more general issue for usenet as a whole--posters to usenet need to have somewhat "thick skins" since this type of response is very likely only any issue from the experts who post in whatever field you are discussing. As noted, it's more the nature of the medium. And it's an awful lot better here on this moderated group than you'll get in an unmoderated group--in those groups there are people that intentionally post insulting replies just to get things stirred up. -- Ed Zollars, CPA Phoenix, Arizona << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#6
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| - quote - > > My wife recently won a settlement for a client. The
I think this is another example of a lay person coming here> > insurance company is paying out the settlement and can make > > multiple checks. > > > My question. Is it possible to have the insurance company > > make the check out to me instead of my wife so that I can > > claim the income under my SSN? > > > Is that legal? with what is to him a legitimate tax question, and getting several snide and condescending remarks as if he were either a brain-dead moron or a tax-cheat soliciting criminal collusion. IMO this is a growing problem here, particularly with a select few "regular" posters. Perhaps you folks are working too hard. As a non-pro, I'm probably a bit over-sensitive. Nevertheless, as a VITA/TCE volunteer during tax season, I would never consider the snide remarks I see here as appropriate when working with one of the walk-ins. No matter what I personally think. I would like to urge you pros to cut these folks a little slack. The fact that they come here to ask a question indicates to me that they are making an effort to handle what are to them some very complex and confusing issues. IMO you ought to give them the benefit of the doubt; especially since most of you pros can't even agree on what time it is much less a tax issue. (I use this as an example of tax-issue complexity, not your competence) My apologies for venting. All of you really provide a much needed public service and I appreciate it; but I felt that this really needed to be said. Now you can direct your snide remarks to me. -- To reply to me directly, remove the XXX characters from my email address. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
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| "Wins" <wcc97[at]yahoo.com> wrote: - quote - > My wife recently won a settlement for a client. The
The legality of it is not a tax issue, its a legal issue. The tax answer> insurance company is paying out the settlement and can make > multiple checks. > My question. Is it possible to have the insurance company > make the check out to me instead of my wife so that I can > claim the income under my SSN? > Is that legal? is, it should be hers. You can't assign income. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
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| wcc97[at]yahoo.com (Wins) writes: - quote - > Is it possible to have the insurance company
Of course not.> make the check out to me instead of my wife so that I can > claim the income under my SSN? > Is that legal? Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
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| - quote - > My question. Is it possible to have the insurance company
No & No> make the check out to me instead of my wife so that I can > claim the income under my SSN? > Is that legal? Kate, EA in PA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
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| Wins wrote: - quote - > My wife recently won a settlement for a client. The
Absolutely NOT! Nuff said.> insurance company is paying out the settlement and can make > multiple checks. > My question. Is it possible to have the insurance company > make the check out to me instead of my wife so that I can > claim the income under my SSN? > Is that legal? ChEAr$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
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| - quote - > My wife recently won a settlement for a client. The
'Not unless you performed the work necessary to produce the income, contracted> insurance company is paying out the settlement and can make > multiple checks. > My question. Is it possible to have the insurance company > make the check out to me instead of my wife so that I can > claim the income under my SSN? > Is that legal? to perform a service (along with your spouse) are in business as a partnership and your agreement spells out the percentage of distributions.(profit & loss). Another possibility is that you may have been an employee, sub-contractor, or were compensated (somehow) as a non-employee. You then would pay the tax and self-employment tax on the net income from this transaction. In any case, if your wife was the only one contracted to perform the service, the insurance company would have no license to pay anyone other than your wife. She might then be responsible for paying you for your services. "Jack" - John H. Fisher - TaxService[at]aol.com Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html Where Ignorance is bliss, 'tis folly to be wise!= ![]() << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| - quote - > My wife recently won a settlement for a client. The
Did you win it or did she?> insurance company is paying out the settlement and can make > multiple checks. > My question. Is it possible to have the insurance company > make the check out to me instead of my wife so that I can > claim the income under my SSN? - quote - > Is that legal?
Get serious, what do you think?Helen, EA in PA 50 miles, 3 days, 1 cause - Multiple Sclerosis Challenge Walk for the Cure October 1 to October 3, 2004 Donate on-line at www.msandyou.org << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
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| My wife recently won a settlement for a client. The insurance company is paying out the settlement and can make multiple checks. My question. Is it possible to have the insurance company make the check out to me instead of my wife so that I can claim the income under my SSN? Is that legal? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| income, shift |
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