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Not quite. Rather, it's because the answers actively HIDE until you give up and ask. Then they pop out at you, snickering, as if they had been there the whole time.

You are correct, I said that backwards; left brain vs right brain. If he had 5 vehicles but one was strictly used as a spare when one of the other four was not in use he could continue to use SM.

Sometimes I think I post on here just to bring stuff to my own attention.

Their in lies the problem. FMV cannot be determined (with reasonable accuracy) except for what local basket maker could only tell family what it would be take to make another one.(66 hrs @ $50.00)=3300.00.

In order to support a deduction for more than $1,500, there needs to to be support for the item's FMV.

Exactly. Winding up the business takes time.

I think it is the other way around. He can use the actual expenses method if he had 1 or 7 cars. He cannot use the mileage method if he has 6 cars being used simultaneously.

Just because business ceased operations in February doesn't mean the corporation is dead. Does the corporation still have an open bank account? Are there any other assets or unpaid liabilities?

I left ATX due to problems related to business entity returns. I see you are from ID. ATX has a long history of giving less attention to smaller states. I know the last year I used ATX, the users from MT and HI didn't have all of their forms until the last week of February or the beginning of March. If your practice needs tax software that's ready to go as soon as tax season opens, then ATX may not be for you.

I too have had ATX for 20 some years. I actually tried out Drake and didn't like it. ATX is a good software for a small business. I like that I input from a screen that looks like the form. But I started out old school filing in the blanks on a tax return by pencil. So I feel comfortable using the forms and not relying on input prompts. I haven't had any complaints (since that little issue in 2012.....) (2012?) (The older users will know.....)

Yes, I received the transcript 6 or 7 days later, although I really wanted to talk to a live person.

I have been using ATX for about 20 years and have no reason to switch.

I have not used Lacerte, but from my understanding, you will be losing a lot of bells and whistles. But getting away from Intuit can't be a bad thing. ATX user since 2000. Tom Longview, TX

And, a lot of high school kids listened to their friends and filed in the IRS portal for EIP3, which counts as a tax return. The kids get their free $1,400, but their parents' returns get rejected due to their dependent already filing a "return."

According to online reports over 1 Million children every year have their identity stolen. The most frequent culprit is a family member or the family member of a close friend.

https://www.businessinsider.com/photo-irs-why-refund-checks-delayed-paper-unprocessed-tax-returns-2022-6 can you imagine - this is 1 office in a building of the IRS x how many centers - I wonder if this was the neatest one? I posted this for my clients that are waiting... for their 2021's to be done and their 2020's and amends and retention credits and D

It's crazy to file anything on paper with the IRS right now, unless you're absolutely forced to.

I'd enter this on the balance sheet in the Other Asset section with the caption "Asset Not Yet In Service". Then in 2022, make a journal entry to debit the fixed asset account, credit the Other Asset to remove it, and put it on the depreciation schedule.

Now i have two clients whose checks didn't make it to IRS. No service in the postal system anymore.