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I just did a head count and I have 70 returns in house waiting for me to start. And they are coming in at an average pace of 10 -12 per day. So far today, I have finished two. I need to find another gear here somewhere. I am thinking I must be clinically depressed because about 75 - 80% of my returns will have a 3115 issue. Extending is not an option because I sure the heck do not want to be messing with those all summer long. Yeah - clinically depressed - that's my problem. I think I will go dodge some traffic and try to get the mail. Hey! Maybe there will be some more returns in the mail. Hahahahahahahaha!!!!!!!!!!!!!!!!!!!!!

Second thought, it's not uncommon for the annual depreciation limits to result in the depreciation of a vehicle for some years beyond its MACRS life.

Naveen reported on another thread in response to an inquiry from Tom that his (Naveen) wife passed away on January 21st. Naveen - you will continue to be in my prayers. I cry for and with you in this, your hour of need. Know that we, in this community, feel your pain. May the God of all creation, continue to hold you in the palm of His hand - and may you sense His love in every breath that you take and every step that you make every step of the way! God bless, my friend!

http://www.parkerbrosmemorial.com/book-of-memories/2032473/Mohan-June/obituary.php

I know I should probably keep my mouth shut as I don't want to jinx anything but ATX is working well for me. It's humming right along with no issues whatsoever. I run on a standalone machine and never experienced any real issues in the past and find that this year everything from the installation to the performance has been real smooth. Hope everyone using ATX (and any other software for that matter) are also experiencing good results!

Did they ask Omar for his autograph? That's probably showing my age. Did they ask to take a selfie with Omar?

Well, I think I will just mail it and hope for the best throwing myself on the mercy of the agency. I'm sure not to be alone.

Margaret, this is one of my worries too, forgetting to attach this election each year, and I think this will happen a lot. Fwiw, I think you should try to send it in too. I did read that a late election on an amended return is only available with IRS consent, so I'm not really sure how IRS will view this since you aren't really amending.

I'm moving at quite a clip AND ACCOMPLISHING ZERO. Thank you all for helping me feel a little better about that.

My completely unfounded opinion is that about 95% of us will be doing that multiple times this year, so you are completely normal. Can you just amend the return and see that he mails the amended return before 4/15/15, or is this a mistake worthy of death and you will be taken out and shot? Cause, they really should rethink that if they have to shoot 95% of us. There is a shortage of ammo, you know.

And I'm stuck at home with another snowstorm. This might not have been the best year to move my office out of the house... The three returns I brought home to do today are done - well, except for final review and printing to pdf, which I will do back at my office tomorrow. So, since I still can't get TO my office, I guess I'll take out my cross-stitch kit and work on that for a bit. I'd actually prefer to be making progress on taxes - but that's off the books for today. Argh.

Generally, you can deduct the cost of meals and lodging if your business trip is overnight or long enough that you need to stop for sleep or rest to properly perform your duties. In most cases, you can deduct only 50% of your meal expenses. So, I would say that there is no meal deduction.

The IRS auditor first looks at the deposits in your bank accounts. If your income claimed on your return is equal or higher, the idea of understated income goes away. The IRS does not have the capability to look up all the tax returns you signed and ask you how much you charged. This is an irrational fear.

TaxmannEA is correct about the GVWR of and F350 because that would be around 10,000 lbs. It sounds like it was all handled improperly from the beginning. The rule is that only for passenger automobiles with unrecovered basis at the end of the recovery period, those can continue to depreciate the automobile if it is still being used in the business. For listed property other than passenger autos, the depreciation stops at the end of the recovery period. It does look like your asset was entered as listed property, possibly with the first year using the mileage method and then switching to actual expense method. When that happens before the vehicle is fully depreciated, the straight line method must be used over its remaining estimated useful life, otherwise MACRS is the required method. So it would seem that since you have SL method, that might be what happened...unless that was an error also.

Ok, this check cashing business I'm working on now took a bunch of bad checks on one "OMAR SHARIFF." I can't even tell you people how normal and brilliant and superb you all are. OMG. I guess they thought they could trust him because of the extra "F" there. Crying.

You are actually way above average, but I'm not trying to make you a bigger target. Yes. Yes, they will.

Rita, I love being called 'normal!' So an amended return before 4.15 will suffice - maybe. This is, of course, the only EITC client that I have, wouldn't you know. It's all legit (broken back, wife works in a bakery for $22,000 with 3 kids at home). I have all other i's dotted and t's crossed, my 8867 on file, back up records, but don't want any issues. Also, Ohio has now decided to crack down on identity theft so are sending out letters to, apparently, early filers to prove they are legit. My son got the letter as did another retired client. They both were filed about 10 days ago. Now I'm getting paranoid - will they be after me next?

I am stuck on review financial statements that I've been struggling to finish up and now I've got final figures and have NOL carrybacks to prepare also. This is a FY 5/31 corp with the return due 2/16. I pulled my hair out all summer and fall trying to get the complete records I needed from this company. The bookkeeper was extremely ill and ended up in the hospital fighting pneumonia, and then the owner's elderly mother was dx with a terminal illness and died. Plus, I do so few at this level any more that this is the one that will have to be submitted for peer review. I just want to scream! I won't even be able to get to individual returns for a few more days.

Too much effort.

Agree with MaMalody

It does not matter whose account it comes out of. They are married. The threshold is $14,000 per person per year. No form 709 is needed. No one will ever question this. Sleep well.

We had a two hour delay today - ice all around But I have learned to take a minimum of 20 hours of work home with me every night - just in case you, Catherine, would move into my area and bring all of your snow with you. (We only have about 34 inches on the ground right now.) But at the pace I am moving, even if I spent 3 hours working at home at night, I seem to still bring 19 hours of work back to the office every morning. Something just is not clicking.

If they each gave the sister $7,500 as a gift, neither of them reached the limit to require reporting the gift unless there are other gifts during the year that you did not mention. i don't think a 709 would be required under these circumstances.

There is another form in ATX, Home Office Exp. The second tab, Expense Input, has the fields to input actual expenses. If you click on any of the indirect fields on 8829, the Home Office Exp worksheet is an option if you don't already have it open.

Last year I had to indicate that I was the paid preparer on my NY return. My program has a warning system..and it wouldn't let me file without that.

Naveen: Please stay strong in this most difficult time. Use the good memories of your wife to sustain you going forward. Rich

My friends. you really touched my hearts. You are not just co-workers, you are my brothers and sisters in Christian Community. I am specially thankful to Mr. Fassett who was able to find and post the link from the funeral home. Mr. Fassett also got my practice going in 2005 when he recommended NCI class to me. Thanks again. Naveen Mohan

Lynn, The following link will get you to the Mef Handbook/Personal 2014 (don't know if it's for the taxable year of 2014 or was printed in 2014.. regardless, GO TO PAGE 5 FOR CONTACT INFO...(SURE YOU'LL FIND THE DIVISION YOU NEED) http://revenue.louisiana.gov/Miscellaneous/2014LouisianaEFileHandbook.pdf

I don't sign returns when I don't charge, because I like to follow the instructions. Page 75 of the 1040 instrructions couldn't be more clear. " Generally, anyone you pay to prepare your return must sign it and include their Preparer Tax Identification Number (PTIN) in the space provided. The preparer must give you a copy of the return for your records. Someone who prepares your return but does not charge you should not sign your return."

An F350 pickup should not be listed property due to the GVWR rules. It looks like it was marked as listed property on the system and treated accordingly.

I am very sorry for you loss and hope that the prayers and warm wishes sent your way will help you find peace. You were a devoted husband with years of good memories to help light your way during dark times. Call upon us at anytime for anything.

Naveen -- My deepest sympathies and condolences. May God grant you peace in your heart, under all your grieving.

It is most likely a final distribution of his capital account; which is money he invested and has already been taxed.

Take heart from the fact that you had the courage to fulfill the wishes of your wife. My heartfelt thoughts are with you.

I'm so sorry, Naveen. I wish there were words of comfort that would help to ease your loss. Please know that if you need help or need to share, we have a great group of folks here that care about you.

The distribution only affects the basis - inside and outside. (Partners can and usually do have both an inside and an outside basis. The $500 distribution would reduce his basis. It would not flow to anywhere on the 1040. Since the partnership is dissolved you will need to calculate gain or loss of the partnership interest.

Thanks...but I don't use ATX. My program didn't give me the option. (If it did....I wouldn't have asked.) On the SE form itself...it said the info had to come from a C..F..or K-1. Maybe it's just a program thing... The client knows she has to pay tax on the money...this was NOT the issue. It wasn't really self-employment. She is on some kind of study program with a hospital...and the hospital could not pay her directly for this part of the program. The issue is a VISA issue...and when she goes for her Green Card. According to the VISA...she is only allowed to work for the hospital that recruited her. But, part of her :job" was to do an internship (the 1099-Misc income) When she goes for the Green Card...she doesn't want to have a problem with breaking the treaty...so she doesn't want Philadelphia to classify her as a "business owner". Anyway...I called Philly...and got it all worked out...and filed it as "additional job income" instead of Schedule C income. I deal with a lot of non-resident aliens on J and F visas. This is very different than regular returns. I have to keep "treaty regulations" ahead of IRS/Philly regulations If the IRS questions things, you just pay them what they want. (I'm expecting the flames for this...but, this is the stuff that keeps my grey matter active. ) It's better than having a Green Card denied.

I am glad this helped you. I know what it feels like to be ready to throw up all over your computer when it is just not making sense. Tom Newark, CA

JB: Your client never spoke to a lawyer about changing the title. They might have, but probably didn't. And if they did, I do not know a reputable lawyer who would not have told them to go to the court house and file this deed to put the title into your clients name. Heck, the lawyer would get paid to prepare the documentation. Your client was not interested in paying the small amount that it would take to fix this mess. So your client was just covering their butt. They haven't done the most basic steps to figuring out what to do after the death of the mother. Call an attorney friend, and recommend that they get your clients straight. The mortgage can be transferred, and if not, then the lawyer can do the paperwork to file if there ever IS a sale, transfer or other issue that may make the title a problem. Sometimes we are doing tax returns, and sometimes, we are the only professionals with whom many of our clients interact with on any regular basis who have any clue about fixing stuff like this. Rich

for Rita -

MS: I agree with you. I believe the initial "professional" reaction was an OVER-reaction. And that is the one that every Sch C, E and F needs it own 3115, every year. As time passed, and more folks looked at it, I believe for the majority of our clients, the ones who have a Sch C or a couple of rentals, we have been sorta following many of the things found in the Rev-Proc, notwithstanding that we also just Section 179 most everything anyway... Most of us *here* are not performing audits, or doing them for public companies. That is a different world, and that is where the initial reaction came from. I am adding the two elections to each return. I will not do a 3115 unless there is something particular to that client that appears to demand it. Just my 2 cents. The IRS, in all its infinite wisdom, I believe, is running out of fingers to stick into the dike. And this Rev-Proc is just another one of the pieces of the dam breaking. Rich

Good news! I was able to locate new software and drivers for the Samsung, and now it is working just fine.

I'm thinking a lot of that should be a capital loss. See what you think after reading pub 535, page 3, middle column at the bottom under the heading "going into business", if you don't go into business and the expenses were incurred for a specific business or project. About the legal fees, were those to handle the purchase of the business and all that involves, or was part of that to try to recoup his deposit? The part of the legal fees that were for the investigation and purchase of the specific business, I'd consider part of the capital loss. If part of those legal fees were incurred in an attempt to recoup the deposit, I'd be inclined to separate that out and put that portion on Sch A as a miscellaneous itemized deduction as legal fees that are paid for the production or collection of income, or preservation of assets. Those are my thoughts right now on how I would consider this without research. Maybe some of our other members with more experience with purchasing businesses will chime in if I'm off the mark on this.

Never is that going to happen! You have no idea how many times I feel that way.

Everybody here is so smart! I even hesitate to contribute at times because I fear looking ignorant among the other posts.