Taxes - My Tax Return

Can I use short form 1040A if the only capital gain distributions are from a mutual fund ?

Asked Tuesday, November 28, 2000 by an anonymous user

CPA Answer:

If all other criteria are met to file short form 1040A then you can use 1040A if the only capital gains are distributions from a mutual fund.
CPAdirectory
Answer Provided by: CPAdirectory

Investments & Financial Planning

Is there a website for determining withdrawals from retirement fund to achieve a specific income level ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

T. Rowe price has created a website for users to enter assets information, how long they plan to be in retirement and their desired withdrawal from the retiremnet fund to determine the liklelihood or success based on these variables. www.troweprice.com/ric is the address.
CPAdirectory
Answer Provided by: CPAdirectory

Insurance

In reference to insurance , what is an Elimination period ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

An Elimination period is a type of deductible. It is the length of time the individual must pay for covered services before the insurance company will begin to make payments. The longer the elimination period in a policy, the lower the premium.
CPAdirectory
Answer Provided by: CPAdirectory

Insurance

In reference to insurance , what is a Guaranteed Renewable policy ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

Guaranteed renewable is when a policy cannot be cancelled and must be renewed when it expires unless benefits have been exhauseted. The company cannot change the coverage or refuse to renew the coverage for other than nonpayment of premiums. This includes changes in health conditions or marital or employment status.
CPAdirectory
Answer Provided by: CPAdirectory

Rental Expenses

Is the cost of Land depreciable ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

No. Land is not depreciable.
CPAdirectory
Answer Provided by: CPAdirectory

Depreciation

Depreciation - Land depreciation

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

Land is not depreciable.
CPAdirectory
Answer Provided by: CPAdirectory

Small Business Services

Is the cost of Farmland depreciable ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

No. Farmland is not depreciable. Farm Buildings and machinery used on the farm are depreciable.
CPAdirectory
Answer Provided by: CPAdirectory

Depreciation

Depreciation - Farmland

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

Farmland is not depreciable. Farm Buildings and machinery used on the farm are depreciable.
CPAdirectory
Answer Provided by: CPAdirectory

Small Business Services

Can I deduct the costs of trees I planted on my business property ?

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

Trees and bushes planted on your business property can be depreciated over a 15 year period. Landscapping service expenses can be deducted in the year performed.
CPAdirectory
Answer Provided by: CPAdirectory

Depreciation

Depreciation - trees & bushes

Asked Monday, November 27, 2000 by an anonymous user

CPA Answer:

Trees and bushes planted on your business property can be depreciated over a 15 year period. Landscapping service expenses can be deducted in the year performed.
CPAdirectory
Answer Provided by: CPAdirectory