Page 18 THE EVERETT ADVOCATE – FRiDAy, NOVEmbER 18, 2022 FOOTBALL | FROM PAGE 17 It’s the fate of the playoffs, where one loss means a team’s Super Bowl dreams are instantly wiped out. And when there’s no traditional Thanksgiving Day game to anticipate, it all seems so anticlimactic. But with that said, the Tide gave Central Catholic all it could handle. After beating CITY OF EVERETT - LEGAL NOTICE - ZONING BOARD OF APPEALS 484 BROADWAY EVERETT, MASSACHUSETTS 02149 To Whom It May Concern: This notice is to inform you that, the matter referenced below, originally scheduled to be heard on November 21, 2022, will instead be heard at a Special Meeting on November 28, 2022 at 6: 00 P.M, Everett City Hall, 3rd Floor in the George Keverian Hearing Room. All interested parties may attend and opinions will be heard regarding the following petition. The matter will be called at the Board’s November 21, 2022 meeting solely for the purposed of immediately continuing the matter to November 28, 2022. No testimony or evidence will be taken in this matter at the November 21, 2022 meeting. Whereas a petition has been presented by: Property Address: 38 High Street. Map/Lot: M0-01-000026 Person Requesting: Mr. Cesar Lopez Berrio 20 Chatham Rd. Everett, MA, 02149 PROPOSAL: The owner wishes to convert the existing three (3) family dwelling into a four (4) family dwelling in a Dwelling District. The plot plan submitted indicates that seven parking spaces are proposed in the yard. The permit is respectfully denied in accordance with the City of Everett Zoning Appendix A for the following reasons: Reason for Denial: • A four (4) family is not an allowed use in this district • • The floor area is above the allowable at .51 FAR The parking plan provided indicates that a vehicle will be required to be moved in order for the other vehicles to enter and leave the parking lot. • • • The parking plan provided indicates that a vehicle will be parked within the required minimum specified building setback (7’) The parking plan provided indicates that a vehicle will be parked closer that eight (8) feet from a habitable window. The parking plan provided does not indicate an 18’ aisle to allow vehicles to ingress and egress at the same time. Zoning: 1. Section 4 Dwelling Districts (a) Uses: A. Uses. Within any dwelling district as indicated on the zoning map, no building, structure or premises shall be used and no building or structure shall be erected which is intended or de signed to be used in whole or in part for industry, trade, manufacturing, of commercial purposes, of for other thank the following specified purposes: 17. Conversion of Dwelling. No new dwelling unit created by conversion of an existing dwelling shall be permitted unless the requirements of minimum lot area and off-street parking are satisfied for all dwelling units in existence and proposed in the dwelling after the conversion or enlargement. (Ord. 02-046 of Oct. 22, 2003) 2. B. Dimensional Requirements 2. Lot Area (CC) All other uses----0.5 maximum floor area ratio (Ord. of 6-29-87; Ord of 4-29-91 Ord of 7-16-2002; Ord of 11-13-2007) 3. Section 17 Off Street Parking (J): “Parking facilities shall be designed so that eat motor vehicle ma proceed to and from the parking space provided for it without requiring the moving of any other motor vehicle.” 4. Section 17 Off Street Parking (K): “Parking facilities shall be designed so that no vehicles shall be parked nearer to any street lines that the minimum specified building setback for the Zoning District in which the parking facility is located.: 5. Section 17 Off Street Parking (M): “No parking stall shall be located within eight (8) feet of any window of habitable rooms in the basement or first story level of any building.: 6. Section 17 Off Street Parking (O) 5. “All parking areas shall have an access road with a minimum of eighteen (18) feet to allow ingress and exiting at same time. MARY GERACE - Chairman Roberta Suppa - Clerk of the Board of Appeals November 11, 18, 2022 Reasonable compensation for S Corp shareholders T he IRS is beginning to select a certain amount of S Corporations for examination to make certain they are complying with paying stockholders who work for the corporation a reasonable salary which in turn translates into paying a reasonable amount of payroll taxes assessed on the salary. The IRS will be looking at three types of distributions to S Corporation shareholders. 1. Those of appreciated assets where the S Corporation fails to report the gain on sale of that asset in the first place; 2. When an S Corporation fails to report a distribution to a shareholder as a taxable dividend when required to do so, and 3. When a shareholder fails to report a non-dividend distribution as a taxable capital gain when the distribution exceeds his or her stock and loan basis in the S Corporation. With the IRS now receiving an estimated $46billion in additional funding towards its enforcement efforts, S Corporations need to maintain very accurate books and records, keep track of stockholder basis and loan basis, and be sure to report taxable transactions properly. Calendar year 2022 returns filed on or before March 15, 2023 will still be susceptible to an income tax audit on or before March 15, 2026. This will give the IRS virtually three years to train their newley-hired auditors just in time to still be able to audit 2022 calendar year tax returns. Certainly, 2023 calendar year returns and thereafter will be even more likely to be audited. S Corporation profits above and beyond owners’ salary that are distributed to the stockholders are not subject to payroll taxes. This is not the case with partnerships. All of a partnership’s ordinary net income from a trade or business is subject to self- employment taxes. The IRS has created a fact sheet that serves as a guide for its Braintree, 46-14, in a Round of 16 game the previous week, the Raiders were in a virtual dogfight for all intents and purposes against their GBL counterparts. “Our team played very hard against Central Catholic, and I am very proud of our efforts,” said coach Rob DiLoreto. “We had a few costly turnovers and untimely penalties that no FOOTBALL | SEE PAGE 22 agents to determine whether or not an S Corporation’s shareholder’s salary is reasonable. The IRS wants to collect payroll taxes on all wages in order to fund the social security system. If a S Corporation shareholder actively works in the business and does not take any salary at all, more likely than not, the IRS will eventually catch up with that S Corporation and will look to reclassify most, if not all, of the stockholder distributions as salary and then assess the S Corporation for the requisite amount of payroll taxes. Interest and penalties would also be assessed. The IRS FS (fact sheet) 200825 sets forth a guideline for agents to use in order to determine a reasonable salary such as duties and responsibilities, time and effort devoted to the business, salaries paid to non-stockholder employees of the business, what comparable businesses are paying for the same level of service, etc. With the Democrats maintaining the Senate, it does appear as thought the IRS will indeed be funded with an additional $86 billion, with $46 billion earmarked towards enforcement. Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a master’s degree in taxation.
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