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/s.

Yeah, but the mechanic, who pays child support to the hair stylist, keeps that one alive.

JKLCPA, You are basically correct and without going into UPL (unauthorized practice of law) I share the following information and possibilities: Typically the "Articles of Org, etc." are public documents and are used by the state entities to "track/register" the operation. Many states use what is called an 'operating agreement" that usually is NOT filed with the state and can be (usually is) a private document that is NOT-public. This "operating agreement" typically states the desired plans/set up of the LLC (such as if it is a single member controlled, partnership controlled, etc.). Therefore the intent and desires of the couple is what counts here. Did the two people want to be a "dis-regarded entity (sole pro) or did the want to be a partnership (two or more) or as you know a corporation. Your statement that the "intent" of the parties is RIGHT ON, as long as they did not either knowingly or Unknowingly make the wrong statements in the "operating agreement" (NOTE: some states call it something else other than an "operating statement" --- but --- the "operating statement" is different and totally separate from the "Articles of Org., etc.".

So say we all. But some of us like warm fuzzies and personal kudos. It's ok if you don't like them, Jack. We don't mind. More for us.

But there is great personal satisfaction in being a love doctor and family counselor. And chickens come home to roost eventually if you don't deliver what you promise, as we say around here.

The comments (click the tab at the top of the article) are interesting. I would also lose most of my clients if I charged like this. $279 for a 1040, Schedule A, and TN-250 won't fly around here, much less the higher fees for other schedules. Not saying HRB doesn't charge like this, but they advertise enough that there is a steady flow of people trying them out every year which makes up for the folks that leave and find the rest of us. Same story, year 21.

Once they see what I charge for a 1065 and two K1s vs. a Sch C, they wish they were single-member disregarded entity!

You are right. HRB advertise aggressively and the difference is that they run their shop as a real business. I on the other hand, have to beg my partner to spend 10% of our income in advertisement and she only agrees to 2%. America runs on perception and believe me... they think the rookie preparing their taxes at HRB knows more than I do. It is amazing how much the president of HRB makes without touching a 1040 form (we are talking million(s)). BUT again, they run a business and I am a love doctor or family counselor with a lot of sympathy when I listen to my client's stories. I agree, that's not a way to run a business.

I would also check SS4 (EIN) letter to see if they received EIN with the intentionof filing 1065.

If the baby daddy find out he is also supporting Carmelo, he is going to want to put him as a dependent to.

31. I am paying child support, can I claim my children if they live with the mother? Do I get any credit for all that money I am paying? I usually say "no, because that money is not for your children, it is for Carmelo" I am going to start using another phrase "No because you are not biological father of those children". It really pisses me off because even the hair stylist tells them that child support is not deductible and yet they still ask you that question.

30. "Since I had my baby on January 01/07/15, I can use the "10-day grace period" rule and claim her as being born in 2014 on my taxes this year"

29. How come I have to pay taxes, the rich don't pay any. How can I get a tax shelter like they do?

26. We didn't make any money. Just enough to pay our bills is all. (Yes, I heard this one from a business owner whose "bills" included Hummer, BMW, boat, food, utility, and mortgage payments. They had a rude awakening. Oh, and don't sign up for SS at age 62 when you make 100k.)

25. You must like math.

These two I actually heard already this year: My friend told me that if I put a magnetic sign on my car, I can deduct ALL of my mileage because I am constantly advertising everywhere I go. My friend told me that if I go to Virginia and do a show (Pampered Chef), I can deduct the cost of the entire trip. (from Wisconsin) I asked her if she just happened to have some friends or relatives in Virginia that she was going to visit. You all know that the answer was "Well, yes!"

Or, "How should I fill out my W-2?" Yeah, they mean W-4, and you don't even prepare their taxes. They are too smart for that. Do it themselves. Chased you out the door of church cause you need quick questions on Sunday, too.

Yeah, and the question is always something like, "How do I do payroll?" Quick *question* but a three-week answer for the SHORT version!

24. But the realtor told me I can deduct all my closing costs. (I'd love to lock all those realtors in a room and not let them out until they get it.)

Are you a CPA? No, I am not (but I have several clients who are). If you really need a CPA, feel free to keep on looking. I just have one quick question My taxes are really easy this year

10) I'm too old to pay taxes. 11) SS is not taxable, you don't need that form. (Uh, it's on a form... and hey, look - a worksheet on the back.) 12) Just put down the standard amount for donations.

1. I filed an extension, so I don't need to pay anything now. 2. I had a big loss in the stock market, so I won't owe any taxes. 3. I got paid in cash, so I don't need to report it. 4. I'm too young to pay taxes. 5. Income earned outside the U S isn't taxable. 6. Tax Preparers just fill out forms that you can do yourself. Since a number of my clients are S Corporations and their owners, my favorite is, " I didn't take any distributions so I don't owe any taxes." Please feel free to add to the list.

I can't believe that Alabama, Mississippi, Tennessee, and Kentucky are at the top of the list. It ain't possible.

Form 8962 Part 4 Shared Policy Allocation handles much of what you asked, plus a mid-year divorce but full-year health coverage on one policy, that kind of thing. Not only the coverage, but the pro rata part of the Advanced Premium Tax Credit will follow the child from the mother's plan to the father's tax return, for instance. And, your clients have been reminded on TV, radio, and in print to contact their exchange if a life-event happens, such as losing a dependent, change in income, etc. This isn't our fault. Charge what it's worth.

That should never be the deciding factor. Clearly they had a reason for deciding to form the LLC, probably related to liability protection. Thus a bit higher filing cost should be a normal, and justified, business expense, just like insurance, utilities, etc.

This contains some great points that apply to ALL, OF ANY AGE. I thankfully avoided most of this as I had the several years after Don's stroke,to sort things, but still had a few of these issues bite me in the butt. Letter written by a wife after her husband's death in an accident "Few things I learnt after my husband's death:- We always believe we will live forever. Bad things always happen to others. Only when things hit us bang on your head you realise... Life is so unpredictable.... My husband was an IT guy. All Technical. And I am a chartered accountant. Awesome combination you may think. Techie guy so everything is on his laptop. His to do list. His e-bill and his bank statements in his email. He even maintained a folder which said IMPWDS wherein he stored all login id and passwords for all his online accounts. And even his laptop had a password. Techie guy so all the passwords were alpha-numeric with a special character not an easy one to crack. Office policy said passwords needed to be changed every 30 days. So every time I accessed his laptop I would realize it's a new password again. I would simply opt for asking him 'What's the latest password' instead of taking the strain to memorize it. You may think me being a Chartered Accountant would means everything is documented and filed properly. Alas many of my chartered accountant friends would agree that the precision we follow with our office documents and papers do not flow in to day to day home life. At office you have be epitome of Reliability / Competent / Diligent etc but. At home front there is always a tomorrow. One fine morning my hubby expired in a bike accident on his way home from office. He was just 33.His laptop with all his data crashed. Everything on his hard disk wiped off. No folder of IMPWDS to refer back to. His mobile with all the numbers on it was smashed. But that was just the beginning. I realised I had lot to learn. 9 years married to one of the best human beings. With no kids. Just the two of us to fall back on. But now I stood all alone and lost. Being chartered accountant helped in more ways than one but it was not enough. I needed help. His saving bank accounts, his salary bank accounts had no nominee. On his insurance his mom was the nominee and it was almost 2 years back she had expired. But this was just a start. I didn't know the password to his email account where all his e-bill came. I didn't know which expenses he paid by standing instructions. His office front too was not easy. His department had changed recently. I didn't know his reporting boss name to start with. When had he last claimed his shift allowance, his mobile reimbursement The house we bought with all the excitement on a loan thought with our joint salary we could afford the EMI. When the home loans guys suggested insurance on the loan. We decided the instead of paying the premium the difference in the EMI on account of the insurance could be used pay towards prepayment of the loan and get the tenure down. We never thought what we would do if we have to live on a single salary. So now there was huge EMI to look into. I realised I was in for a long haul. Road accident case. So everywhere I needed a Death certificate, FIR report, Post Mortem report. For everything there were forms running into pages, indemnity bonds, notary, and surety to stand up for you. No objections certificates from your co-heirs. I learnt other than your house, your land, your car, your bike are also your property. So what if you are the joint owner of the flat. You don't become the owner just because your hubby is no more. So what if your hubby expired in the bike accident and you are the nominee but if the bike is in a repairable condition. You have to get the bike transferred in your name to claim the insurance. And that was again not easy. The bike or car cannot be transferred in your name without going through a set of legal documents. Getting a Succession Certificate is another battle all together. Then came the time you realise now you have to start changing all the bills, assets in your name. Your gas connection, electricity meter, your own house, your car, your investments and all sundries. And then change all the nominations where your own investments are concerned. And again a start of a new set of paperwork. To say I was shaken. My whole life had just turned upside down was an understatement. You realise you don't have time to morn and grieve for the person with whom you spent the best years of your life. Because you are busy sorting all the paper work. I realised then how much I took life for granted. I thought being a chartered accountant I am undergoing so many difficulties. What would have happened to someone who was house maker who wouldn't understand this legal hotchpotch A sweet friend then told me dear this was not an end. You have no kids. Your assets will be for all who stand to claim. After my hubby's sudden death, I realised it was time I took life more seriously. I now needed to make a Will. I would have laughed if a few months back if he had asked me to make one. But now life had taken a twist. Lessons learnt this hard way were meant to be shared. After all why should the people whom we love the most suffer after we are no more, sorting some paperwork before we go will at least ease some of their grief. Check all your nominations: It's a usual practice to put a name (i.e. in the first place if you have mentioned it) and royally forget about it. Most of us have named our parent as a nominee for investments, bank accounts opened before marriage. We have not changed the same even years after they are no longer there with us. Even your salary account usually has no nomination. Kindly check all your Nominations. Bank Accounts and Bank lockers Fixed Deposits, NSC Demat Accounts Insurance (Life, Bike or Car or Property) and other Investments PF Pension Forms Investments: Every year for tax purpose we do investments. Do we maintain an excel sheet about it. If so is it on the same laptop of which the password you had not shared. Where are those physical investments hard copy Passwords: We have passwords for practically everything. Email accounts, Bank accounts, even for the laptop you use. What happens when you’re next in kin cannot access any of these simply because they do not know your password... Put it down on a paper. Will: Make a Will. I know you will smile even I would. Had I not gone through all what I did? It would have made my life lot easier. A lot less paperwork. I wouldn't have to provide an indemnity bond, get it notarized, ask surety to stand up, no objections certificates from others... Liabilities: When you take a loan say for your house or car. Check out on all what ifs. What if I am not there tomorrow, what if I lose my job? Will the EMI still be within my range? If not get an insurance on the loan. The people left behind will not have to worry on something as basic as their own house. My battles have just begun...But let us at least try and make few changes so that our loved ones would not suffer after we go. We do not know what will happen in the future. But as the Scout motto goes: "Be prepared" NEVER TAKE LIFE FOR GRANTED DO THINGS APPROPRIATE FOR THE ONES WHO DEPEND ON YOU WITH LOVE

While outfits such as "Legal Zoom" sound tempting, I whole heartedley recommend having a sit down appointment with a local attorney and let him/her draw up the will. The first thing in Louisiana that I didn't know was the fact that there is a big difference in an Administrator and an Independent Administrator of an estate. If the will approves the use of an Independent Administrator, then after a simple one page document is signed by the court, the Independent Administrator is free to basically make all sells necessary, split up assets, etc... and actually close out the estate thereby saving the heirs many dollars in attorney fees. There are other considerations as well that apply to different states that I would only rely on a good respected attorney to inform me correctly. Our attorney discussed the Living Will situation with us. He said on his last trip to the hospital for knee surgery, when the hospital personnel asked him if he had a living will, he replied "yes" and then pointed to his wife of 40 years and said she is my Living Will. "She knows exactly what I want if it comes to that." I was glad to hear him say that as I have seen several cases of when hospital personnel used a "Living Will" improperly such as holding off on giving a patient oxygen when the patient requested it. The reason given to the patient was "we can't do it because you have a Living Will". The Living Will is to be used if the patient is basically brain dead and doesn't want to be left on machines to keep them alive. As long as the patient is coherent and is able to voice what they prefer, the "Living Will" doesn't come into effect. Very scary situation!! Those who think they don't need a will are usually the ones who need one the most.

The first place that the wife signed was to act as the agent, just as I said. In what capacity the final 2 signatures were made is not clear. It says that form may be signed by a member, manager, or other representative. The only stipulation is that they have the authority to act on behalf of the LLC. I think you need to ask your client what their titles are and their intent. I'm leaning toward a 2-person LLC, but it really is not clear. I think you should delete that document from your post because, unless that information is all a matter of public record, you shouldn't be disclosing that on a public forum.

Ironically, they don't ask to claim Carmelo but they get red when I mention him.

Only AFTER taking a proper and reasonable salary on a W-2, with withholdings. This also includes unemployment taxes and workers compensation. Best to stay as a partnership.

Disregard...I see that because they filed as an llc, they MUST file 1065 and K-1s

These are going to come in handy during my next several 60-second commercials at my weekly BNI meeting. Thanks for the list!

I've used the feature for many years too, however, it was my experience in the pre-2012 program years with the excel platform that changing the font in the preparer signature area prevented customized forms from updating during the tax season. (I like to have the preparer signature field print in brush script size 14 for my signature) That said, ATXKristin posted today stating "All of your customizations will remain intact after any form updates." Full post thread for "F2848 license number " discussion of updates : https://community.atxinc.com/forums/thread/195326.aspx

23. I can't afford to have a CPA do my taxes. I'll go to Jackson Hewitt or H&R Block and save a lot of money to get my taxes done.

I've been using CMI Fixed Assets (cmifixedassets.com) for many years. You can even use it for free for fewer than 50 assets. I do pay an annual maintenance fee of $145 so I can call with any questions but the software can be had for free with updates. Here are the features: Features Data Conversion from other fixed asset software, including excel. Supports the Job Creation and Worker Assistance Act of 2002. Supports recent changes to IRS like kind exchange rules. Luxury auto limits and separate truck and van limits. 250,000 assets per company on single user versions and up. Maximum asset value for an individual asset is 9,999,999,999. Renumber Account Groups option. Up to 10 User-Definable fields. New Truck and Van "Luxury Auto" Limits Implemented. Increased Expensing for Small Business. Renumber Account Groups option. Asset selection in depreciation reports and in the Find Asset command allow wild card characters * and ? on screen for the Description and User- Definable fields. Custom depreciation methods allow a decimal point in the percent of basis to be taken as depreciation. IRC 179 expense reduced to $25,000 for some SUV’s A company can contain up to 25 schedules. Location and Category number fields have 10 characters. Supports Journal entries for Cougar Mountain Accounting and Cougar Mountain Fund Account numbers defined in account groups (and created in journal entries) can be up to 100 characters long. Note that account group numbers are still limited to 24 characters. Custom depreciation methods A new export feature has been created that allows you to choose the asset data fields to export and to select the assets to export. A tab-delimited text file is created, which is very easy to open in spreadsheets, such as Microsoft Excel. Column headings can optionally be included at the beginning of the file. Can Override the depreciation calculation of an asset for the current year. Depreciation schedules (by month, quarter or year) Book ACE Federal tax State tax AMT Other Tax forms and worksheets: Form 3468 Form 4255 Form 4562 Form 4797 Tax preference Personal property tax Additional reports: Projections Historical depreciation Asset additions Sales Abandonments Trades Transfers Asset dispositions including gain/loss (full and partial) Asset detail report (complete asset information including depreciation for each schedule [book, tax, etc.] for entire life of asset) Version 4.1 new features Brand New user interface with customizable controls. Check out screen shots for more details. Asset numbers can now be up to 10 characters long and can contain both digits and letters. Sub-assets can be three digits. The asset number format is set on the Edit Company screen and cannot be changed once it is set. If you need to access your data using prior versions of THE SYSTEM, you must select 6-digit asset numbers (no alphabetic letters) with 2-digit sub-assets. Paused Depreciation Feature. This feature allows you to pause the depreciation of an asset that has been taken out of service. User Permissions. You can now setup users with that can either have full, read/write, read only or no permissions. Report Builder is now installed on all versions of CMI Fixed Assets except for the Lite version. I no longer have business clients but some with Sch. C. At one time I had 21 clients on this and have always been pleased.

22. It must be nice to only work from January through April.

18) You don't need this info on my early withdrawal. They held out the taxes already. 19) Bet you are getting busy, huh?

15. But all the money in my 401(k) was money I put in - why should I have to pay taxes on it to get it out? 16. Just put down the same mileage as last year. 17. But the guy I work with makes the same thing I do and he gets a big refund.

Yeah, I'm pretty sure the Affordable Care Act is going to kill us all anyway. Which is ironic when you think about it...

14. I left all the dividends in my brokerage account so I never received that income.

OMG! Every one of us has heard them all..............and more! Wait until they come in this year with all their knowledge about ACA.

8. Go to this place, they get you more money back. 9. If you fill out a 1040A you'll get more money back.

7. I donated a brand new _____ (sofa, or whatever) a month ago to charity. It cost me $2,000 so that's what I can deduct.

KC, for some reason I couldn't find it easily when I did a search either. I saw in the contents section of the bill that it was in sec 127 and just started reading from there.