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I have a very bad habit of accusing hourly workers of milking their time. And apparently my daughter picked up on my cynicism at a very young age. We were on our way to a Christmas time evening celebration in the next little town from us where we were meeting my parents. We were running late, and then got behind a plow truck. Now if you aren't aware, when those guys are plowing, they are supposed to go 35 mph. But - really - we're in a hurry and we're running late! Darn it. We got to the church and made our way into the pew where my parents were sitting. It was very very quiet and lights were turned down and candles were burning. My daughter (She was probably six or seven y/o) - very loud "Sorry we're running late, Grampa. We got stuck behind the plow truck and you can tell they get paid by the hour!" People were snickering all thru the church. I was embarrassed.

It hasn't always been this way, but at this stage in my life.... for $12 an hour, I'd just as soon take the time off.

For $12 an hour, I work really slowly......

You might be thinking of losses from sale of "personal use assets" not allowed. However gain is reported. Basis is usually higher than fmv in most cases so there is no gain.

Like many tax issues, it depends on the facts and circumstances. The concern is whether the income is capital or ordinary. What exactly is the client selling? if he/she is selling a future stream of income, based on present value calculations, it is ordinary income under the "substitute-for-ordinary income doctrine." The courts have applied that doctrine to the sale of rights to lottery winnings. If on the other hand, the taxpayer is selling a perpetual easement with exclusive rights to the land the tower sits on, that is the sale of a capital asset.

Copied from the CPA Journal: The prices listed below are based on information found on the providers’ and/or reviewers’ websites in October 2019. They have not been independently reviewed or verified, and are provided only as a point of comparison for readers of the Annual Tax Software Survey. Tax Preparation Software Prices ATX Individual (ATX 1040 Package): $669; includes two concurrent user licenses, all federal 1040 forms, up to three individual 1040 states, 72 e-file returns, free software conversions, and knowledge base and blog access ATX pay per return: $529 ($229/user annual subscription, $300 nonrefundable deposit); includes individual returns, business returns, and payroll returns Entities: MAX Package: $1,579; includes three concurrent user licenses; all federal individual forms; all state individual forms; all business federal, state, and specialty forms; free unlimited e-file returns; payroll compliance reporting; sales and use tax forms; free software conversions; and the CCH U.S. Master Tax Guide Total Tax Office Package: $1,579; includes five concurrent user licenses; all federal individual forms; all state individual forms; all business federal, state, and specialty forms; free unlimited e-file returns; payroll compliance reporting; sales and use tax forms; PaperlessPLUS; free software conversions; the CCH U.S. Master Tax Guide; Practical Tax Expert Pro; CCH A-Line-D; practice aids and productivity tools; and online newsletters ATX Advantage Package: $3,949; includes six concurrent user licenses; all federal individual forms; all state individual forms; all business federal, state, and specialty forms; enhanced asset management capabilities; advanced tax calculations and compliance capabilities; free unlimited e-file returns; payroll compliance reporting; sales and use tax forms; PaperlessPLUS; product offers and discounts; free software conversions; CCH U.S. Master Tax Guide; Practical Tax Expert Pro; CCH A-Line-D; practice aids and productivity tools; and online newsletters CCH AXCESS TAX Individual: no pricing information available; contact Wolters Kluwer Entities: no pricing information available; contact Wolters Kluwer CCH PROSYSTEM FX Individual: no pricing information available; contact Wolters Kluwer Entities: no pricing information available; contact Wolters Kluwer DRAKE SOFTWARE Individual: Per-return: $330 for 15 returns, $22 for additional returns Unlimited returns: $1,595; early renewal discount available Entities: Per-return: $330 for 15 returns, $22 for additional returns Unlimited returns: $1,595; early renewal discount available GOSYSTEM TAX RS Individual: No pricing information available; contact Thomson Reuters Entities: No pricing information available; contact Thomson Reuters INTUIT PROSERIES ProSeries Basic Basic 20: $429 per year, 1 state Basic 50: $749 per year, 2 states Basic Unlimited: $1,109, 4 states ProSeries Professional Pay-per-return license: $329 per-year access to all federal and state forms, $41 per return 1040 Complete: $1,899, unlimited 1040 returns for all states INTUIT PROCONNECT TAX ONLINE Individual: Pricing per return; different pricing based on number of returns; most popular are $479.70 for 10 1040s and $2,035 for 30 individual 1040s and 10 business 1041s Business: Pricing per return; different pricing based on number of returns LACERTE TAX Individual: Lacerte Unlimited and Lacerte 200: pricing based on customized solution. Pay-per-return license: $389, plus $76 per return (federal plus one state) TAXACT Individual: 1040 Bundle: $675 for unlimited 1040 federal and state returns, unlimited e-file $745 for enterprise bundle, which allows for multiple users Entity: Complete bundle: $1,200 for unlimited individual and entity state and federal returns Complete enterprise bundle: $1,550 (allows for multiple users) TAXSLAYER PRO Classic version: $1,095 Web (cloud-based) version: $1,395 TAXWISE Pay-per-return: $586 (individual and entity returns; no indication of cost per return) ProFiling: $1,163 (individual returns only) Power: $2,656 (individual and entity returns) ULTRA TAX CS Contact Thomson Reuters for pricing for unlimited licenses and per return product

From another tax talk board they got a transcript from eservices a half hour ago.

client of mine has this.. it can be confusing.. my client is getting paid over time on the buyout. i have a 6252 installment sale form populated and that kicks off interest income and installment sale gain.. mine is all gain as there was no basis

Or, asked him to call back once he sobers up!

Ha! I may be a little older than you since I've been preparing NY returns since '84 and I do agree it wasn't easy getting problem resolutions accomplished without a hitch. But I find it a lot easier now and I have good results online and when I call too. If I do need to call, being the kidder I tend to be I usually start off with something to lighten the mood and find the agents to be kinder and easy to deal with, but of course there are exceptions. Just like the kinder, gentler IRS, NYS is following their lead.

Copied from Accounting Today: The Internal Revenue Service issued a notice Monday delaying a requirement for reporting partners’ share of partnership capital. Notice 2019-66 provides that the requirement to report partners’ shares of partnership capital on the tax basis method will not be effective for 2019 (for partnership taxable years beginning in calendar 2019) but will be effective starting in 2020 (for partnership taxable years that start on or after Jan. 1, 2020). For this year, partnerships and other persons must report partner capital accounts consistent with the reporting requirements in the 2018 forms and instructions, including the requirement to report negative tax basis capital accounts on a partner-by-partner basis. The notice also clarifies the 2019 requirement for partnerships and other persons to report a partner’s share of net unrecognized Section 704(c) gain or loss by defining this term for purposes of the reporting requirement. In addition, the notice exempts publicly traded partnerships from the requirement to report their partners’ shares of net unrecognized Section 704(c) gain or loss until further notice

My codes are there (the link you gave us) for 2014 - 2019. Is that about right? I've used ATX (or Saber) for 100 years or so. I was able to see 2013 install code by going to the Prior Year Download Center. I do have all my codes in my files, but it's nice to print this summary. Thanks, Abby!

In addition to an hourly rate, which is a little higher than minimum wage, I add a $5 per completed return bonus at the end of tax season if they stay for the entire tax season. I found it increased productivity, reduced turn over, and the more experienced preparers who can crank out the returns end up with a higher hourly rate at the end of the year than the going rate in this area.

I give a Loyal Client Discount. I list the total price and then the discount, for clients that I think were faster or easier or more organized of bring in family or...based on what I really want to charge them. During last year with the new forms and new TCJA wrinkles, I dropped a lot of Loyal Client Discounts, either lower or dropped altogether. I don't give new clients discounts. Unless they're kids (through college) of current clients. In fact, for new clients that are not referrals of good clients, I quote high.

As Gail suggested, prior experience and/or skills, and the skills the job requires would all factor in. One method you could use to see if your hourly rate is within reason: start with the amount you would be willing to pay on an annual salary basis (based on expertise, skill set, or the cap for the position) and divide by annual working hours to arrive at an hourly rate, and compare to other jobs considering your local economy. Adjust from there.

As they say: "Sounds like a plan to me." I'm pretty sure yours is like 90% of other tax preparers in this country (excepting the Big Three/Four/Five/Whatever national CPA firms). HERE'S MINE: (1) designate one or more employees to coordinate its information security program. I ALSO NAMED MYSELF AS SECURITY COORDINATOR. (2) identify and assess the risks to customer information in each relevant area of the company’s operation and evaluate the effectiveness of the current safeguards for controlling these risks. I KNOW OF TWO OR THREE LOWLIFES AROUND HERE WHO WOULD BURGLARIZE THE PLACE IF THEY COULD, BUT I'VE GOT A LANDSCAPE TIMBER UNDER EVERY DOORKNOB AND THEY CAN'T KEEP THEIR STOLEN TOOLS WITHOUT PAWNING THEM FOR LIQUOR. (3) design and implement a safeguards program and regularly monitor and test it. I BUY FILE CABINETS, LOCK THEM, AND PULL ON THE HANDLES EVERY NOW AND THEN TO SEE IF THEY STILL WORK . (4) select service providers that can maintain appropriate safeguards, make sure the contract requires them to maintain safeguards and oversee their handling of customer information. I DON'T HAVE ANY SERVICE PROVIDERS EXCEPT ATX AND MALWAREBYTES. ALL MY STUFF'S HERE AND NOT UP IN THE CLOUDS. JUST HOPE THOSE GUYS AT ATX CAN KEEP A TIGHT LIP ON THEIR END/ DON'T TRUST MAL TOO MUCH 'CAUSE THEIR REP'S IN BORA-BORA OR SOMEWHERE AND BARELY SPEAKS ENGLISH. evaluate and adjust the program in light of relevant circumstances, including changes in the firm’s business or operations, or the results of security testing and monitoring. WELL, IF THE PLACE BURNS, THE FILES WILL GO WITH IT. IF TORNADO, THEN ME AND THE BATHTUB WILL GO WITH IT, SO I''LL BE OUT OF REACH OF IRS. WE HAVE FAKE ADT STICKERS (FRONT AND BACK) PLUS A BLINKING RED ROOM DEODORIZER THAT LOOKS LIKE A BURGLAR ALARM IN THE BACK WINDOW. OTHER THAN THAT, THE OUTSIDE MOTION LIGHTS ALL HAVE WORKING BULBS, SO CAN'T THINK OF WHAT ELSE TO DO EXCEPT MAYBE CHAIN UP A PIT BULL IN THE BACK YARD. BB

When you are subpoenaed for your records, be sure and include a bill for your time when you deliver to the law firm. They will pay you. I can't imagine any lawyer would allow you to represent their client. They will bring in their own completely partial accountant for that. Don't take it personally when dealing with the attorney's.

And there will also be interest to report on a sale that lasts three and a half years, even if the contract does not call for interest. In that case, part of the proceeds have to be considered imputed interest from every payment except the down payment.

I think you need Form 6252, which does report the income actually received in each year. If there was depreciation taken, you may have extra depreciation recapture in the first year.