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I use the ratio of land to buildings to assign costs. If the assessor thinks 20% is land, I multiply the purchase price times 20% to get the cost of the land.

I don't know about Virginia, but in Oregon, if you know the street address, you can find sales, assessment and tax information going back over 20 years at each county assessor's website.

I love when clients wait until the extension deadline to give you crucial info. Moderator note - this topic contains the posts related to timely filing of e-filed returns that were originally all posted in another topic that had significantly derailed from its original subject.

I've done it before with zero problems. I just tell clients that the IRS provides a way for us to get 5 more days, and it just adds to wizard persona.

I've had two give me crucial info (made estimates, capital loss) AFTER I had finished their return.

I 100 % guarantee you it will not be a sale of stock.

True. Or they're thinking "Once I give you my shoebox, all you need to do is make a few entries and press a button to send it. Right?" Or maybe they're not thinking at all...

These are the ones we love. We're thinking "two more days," and they're thinking "five more days, six if she works till midnight Monday." Uh, no.

Some clients think there's time left. After all, they still have the weekend to get things together since the deadline isn't until Monday...

What ??? ... You really did this? My fear is always that even when you try renewing early, some dope at IRS will louse it up or lose it or otherwise foul things up. Since they generally can't solve anything in less than three months that would leave you without a renewed number until after the start of tax season. I figured that the IRS EF people might not process your returns if the number wasn't renewed. But you're saying you didn't get renewed last time, filed as usual, and EF gave you no problems - is that right?

Why would you want to give your client 5 more days to procrastinate?

Can he get an installment sale to reduce his taxes?

It looks to me that he is essentially selling good will - his client list. Thirty years in business, would lead me to think that most of the equipment is old and of little or no value and the buyer would want to modernize. This could be a sticking point as your client would want something for it.

It will work...

You have to base it in reality and not pick a number at random. You don't need the tax bill you need the assessment. Assessments are available online in most states. I believe there is a sticky post for sites for each state on this forum. Not sure if VA has been added. Some states have one for each county. VA appears to be by county: http://icare.fairfaxcounty.gov/ffxcare/search/commonsearch.aspx?mode=address

I am voting a straight ticket. I am a member of the "Anti-incumbent" Party.