Recent content by Steve Tasker

I've never personally used TurboTax, but let's say you make a nondeductible contribution of $7,000 during 2024. You enter the information into TurboTax, and it spits out that you have a $7,000 cost basis at 12/31/2024 on your 2024 Form 8606. Then in 2025, you decide not to contribute, you...

From a tax perspective, I don't think this is as difficult as you're making it out to be. If you make a nondeductible traditional IRA contribution, you track your previously-taxed (i.e. the amount you contributed but couldn't deduct) cost basis on form 8606. When you take a distribution, a...

Sabres fired Granato.

DSTs are a viable 1031 alternative in that they "work" from a tax perspective. That said, from what I have seen, the fees charged in DST structures tend to be quite high, compared to a normal 1031 where you're really just paying the fee to the qualified intermediary. I've had a few clients...

If they have her name and SSN, they can file a tax return with fake W-2 withholding, claim a refund via direct deposit into a fraudulent bank account, the IRS pays the refund to the fraudulent bank account before matching the W-2 withholding to the taxpayer's account (because the W-2 withholding...

The IRS does generally have the capability to suss out fraudulent return filings, and likely could do so for every taxpayer if they wanted to. The problem is that it would very significantly delay tax return processing, and thus very significantly delay people getting their refunds, which is a...

On Thursdays, a friend of mine usually comes over. We'll watch football, basketball, whatever, have usually 2 drinks as we hang out. Saturdays I'm usually doing something with the girlfriend - go out to dinner, check out a brewery, something along those lines, and I cut myself off at 2...

7-13 I'm at a solid 2-a-day from Thurs - Sun, and basically never drink Mon - Wed. But the beer component (probably half of the consumption) are craft beers, and I'll sometimes make a double or 1.5x cocktail if I'm feeling it, so by the actual description of what is "a drink", it's more than...

No question that he's a great defensive coach in the big picture. His defenses have always been good, both here and in his previous stops. But there's now a historical pattern of his defense disappearing on the biggest stage against the best opponents. I don't think anyone's expecting the...

Run it back next year with the same lame duck *** head coach. Surely the results will be different next time!!

Belichick and Vrabel are not an upgrade over McDermott. Belichick is an all-time great but the game has largely passed him by. I have zero interest in Vrabel; he's got some positives but he's a downgrade from McDermott. I would take Jim Harbaugh in a heartbeat. No questions asked. For the...

100%, lifetime ban. It's such a bad look.

Quit ****ing throwing snowballs at receivers.

Tough not to like Baker.

Ever so close to his first tackle