(6 quotes found)
“If you invest in a flow-through entity such as a partnership or S corporation in which you are not actively working 500 hours or more per year, then that is a passive activity.”
“I think it's a major issue for this year. The city is certainly doing it to raise revenue -- and I think it will be a source of revenue for them.”
“Get last year's return file, and look at all items under income and deductions. Based on the prior year, you may already have phone numbers you can call.”
“What's the value of two large trees that got knocked over due to lightning?”
“If your income is too high, this will be the only type of IRA contribution you are allowed.”
“It's complicated because of the calculations you have to go through, and you have to do it for regular tax and for AMT. It gets very complex.”
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