Leaderboard

Yes, and Friday I was thinking, "Oh, God, don't tell me this, stop talking, stop talking, stop talking..." I will never unhear this stuff.

We always joke about creating a two-sided sign. One side says tax preparation, and the other side says counseling. Somewhere during the appointment, it is obvious when it is the right time to flip it over. The worst part is, they would object profusely to paying $150/hour for accounting time, but wouldn't think twice about paying $150/hour for counseling....

Nah, I think you still a few decades off. XP was released 10/25/2001, and it's just now, in 2014, becoming unsupported. I'm still rockin a flip phone, because I just want a PHONE, my car is a 2004 Tahoe, my farm truck is a 1998 Z71 with 200,000 miles, my TV looks hideous from the side cause it's as deep as it is wide, but I'm not throwing it out while it works, plus it's in a nice cabinet (made of wood born prior to 2001 even) so nobody has to be offended, and I still have clothes in my closet from 2001. True story. Not ashamed.

Every time I see the title to this thread, I seem to feel an irresistible urge to start singing an Andrea Bocelli/Sarah Brightman song and mixing English & Italian.

And I have had clients tell me, "I've told you things I haven't even told my therapist!"

Just tell her she's deducting them by not reporting them as income and paying lower taxes as a result. I have one "cash basis" speech for those who will understand and a different speech for those that say all their friends do it.

I had one woman tell me stuff about her husband that almost made me vomit and it's not even like we were remotely close.I needed a therapist after hearing all of her issues.Then she stiffed me and didn't pick up her corporate taxes. She wanted to come back last year after being gone five years, but I told her I was too busy.

Look at the substance of the transaction. It looks to me like the purchase was made for the education of the taxpayer's child and for no other reason.

It wouldn't matter to me what year the car was from if it was indeed a good car and still providing good service. Got your point. I don't use the old machine for tax prep for obvious reasons. The old machine will be put to rest at the end of this season.

Yes, I have one of those considered ancient computers. However, the thing is going strong. I use it as a work machine for spreadsheets, e-mail, and among many other things. I just hate to replace it. But....

I recall seeing something last season that this is a violation to some IRS regulation to do that. Here's the reference: http://www.accountingtoday.com/news/IRS-Advertise-Services-W2-Form-65965-1.html?ET=webcpa:e6788:210568a:&st=email You need to be a registered user to view it. but it is free to do so. Here is the contents of that article: The Internal Revenue Service reminded practitioners that they should not include advertisements for their services when sending out W-2 forms. “A recent inquiry sent to the Issue Management Resolution System concerned restrictions on including practitioner advertising with Forms W-2 and other information returns,” the IRS said in an email to payroll professionals Wednesday. “As a reminder, no additional enclosures, advertising, promotional material, or a quarterly or annual report are permitted.” The IRS then linked to IMRS Issue 12-0001531 for more information. “Even a sentence or two on the year-end statement describing new services offered by the payer is not permitted,” the IRS noted. “Logos, slogans and advertising may be used on any permissible enclosure such as a check or account statement, other than information returns and payee copies. See the general instructions of the information return for a list of permissible enclosures.”

Another case of people who have missed their calling!! Stick to school administration and not tax law.

I do too, but mine sometimes last a few hours, and then I'm up all night. Wait, I'm up all night anyways. Carry on!

You would have a dissolution of the C corp. Here is a link to a very good article from the AICPA entitled "Now Is the Time - Converting a C Corporation to an S Corporation" that explains the issues: http://www.aicpa.org/publications/taxadviser/2012/august/pages/lynch_august2012.aspx The title makes it sound like it only covers C to S corps, but the pertinent discussion of C to LLC that would apply to your situation starts on page 6 of the file and in the document is labeled page 7 because the file created a blank page at the start that I deleted.

Identity theft? Possible that someone else already filed using her SSN? NO...on second thought....that would have generated a reject on the parent's return. I'm thinking more like David1980 suggested...maybe kid already filed, but did not claim himself

I agree it's always a sore point.

This is an old thread, but I have the same situation. I can't find a Worksheet 7 on p. 2, and I've looked at 2012 Form 8582 as well. Lee or Judy or anyone, can you help a girl out? Never mind, found the answer in a 2012 thread: Passive Activity Loss Adj on 4797. My good buddy Bulldog Tom has saved the day. Just needed to check a box. Thank you.

I was almost 100% positive that I was correct about this but just wanted to be sure I wasn't missing anything. It is so nice to be able to run things past this group. It's been said many times before, but I appreciate each one of you and your willingness to share your knowledge and thoughts during what is such a busy time for all of us. Thanks again! Gina

I ended up not taking it. But its good to get feedback from everyone here. BTW, the client was not adamant in the deduction, but wanted to know if it was available. Like those type of clients.

If mammary serves, people think there is a tax credit for everything they want to deduct. Seriously though, I hate this type of thing, it's so hard to prove a negative.

Check the daugher's input again and make sure that box stayed checked. Last year in ATX, users would check that box and exit out of that form without moving to another field on that form, and that cause the checkmark in the box to not be there. Check the box and move to another field before exiting that screen.

Since their own rules say it is not allowed, the IRS should care.

I tell them I could add it in and then deduct it out and the answer would remain the same ... except for the extra fee I would charge them to do it. It sounds like the gal I had a few days ago that is a speech therapist, (1099MISC). She says she gets 60 percent of money earned in clinic; the clinic gets the 40 percent for their expenses. But the HR person told her she allowed to claim 5 % of the 40% that she doesn't get for "rent" because 5% of the part they keep is her rent and to use it as an expense! Not in the 1099, so no deduction!!

You mean you burst her boobie

My business is harmed by this practice. I prepare W2s and am not allowed to include a coupon, so they have an unfair competitive edge.

ATX says to efile one 8868, then duplicate the client file and create the second 8868. Then contact the EFC and ask them to unlock the EIN so you can efile a second 8868.

The child must be a U.S. citizen, U.S. national, or U.S. resident alien in order to be a qualifying child. If they live in the US or are a US citizen you're fine. If the child is not a US citizen and not a resident of the US they wouldn't be a qualifying child for child tax credit.

I agree with you, Rita. I still like Office 97 for speed and functionality of Excel. At least you don't have to click on two or three icons to do a simple task. Good grief, it's a spreadsheet! There are just too many bells & whistles on the later versions. As for Windows and associated hassles, I'm becoming more and more happy about the changeover to Mac. I think I'm going to keep moving in that direction.

So I made a pot of 100% non-decaf coffee this morning:

Windows 7 replaced XP and Vista around 2008/2009 so if you are still using XP your computer is considered ancient in todays computer standards.

They have extended the security updates to July, 2015. Not that it matters for anyone using ATX. We must have Win 7.

I tell my clients that as a preparer I'm required to efile (which is true). I just fail to mention their right to opt out. I now have no clients who paper file .

AFTER the first trip of the day, all the mileage in between business trips that day, but NOT the trip home at the end of the day. Trips beginning &/or ending at home or a personal place are commuting. The trips between students are business. Keep a log!

Directed donations are not deductible. This is not a cash donation. It is a parent purchasing required items for their child's classroom. No charitable donation. Fails too many tests.

7 years ago today, my high school sweetheart and wife of 17 years passed away. Some of you were with me in spirit then (on old ATX forum) and offered words of encouragement. Thank you. Life is a crazy-magical thing....the door closed on that part of my life....and another opened just a few months later....affording me the opportunity to spend the 2nd half of my life with a grade-school sweetheart. During this time of year that is so filled with tax returns and clients....a take a little time to remember and be thankful. The motto I've learned to live by: "Shit happens...get over it...live happy"

I took one on Monday, but it is worn off. Just had to thank my husband this morning for all the help and support that he has been this year. He doesn't know how to turn on a computer, but he sure is good with a broom and a shovel. Not complaining about erratic meals is the really biggee.

Yes, we were with you then as well as when you found more happiness. I love your attitude. It's probably why you attracted two wonderful women -- plus all of us friends, too!

It's the not-weird people you have to worry about.

From the March 5 NATP newsletter ... Some Decedent Returns Being Rejected The IRS has discovered a programming glitch involving some accounts for decedents who passed in 2013. Any returns attempting to process electronically for taxpayers deceased in 2013 are incorrectly rejecting from MeF processing. Programmers are looking into the problem and the IRS anticipates a fix in the near future. Until the programming has been resolved, the IRS recommends paper filing the return. The key word is some. I had one accepted on March 1 with no problems.