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The IRS regards the changing of ownership to be a potential "red flag" issue!

I've done the discount thing for years. Builds in extra where the clients are a PITA (although a few have gotten surcharges - one guy got a $50 "staple removal" charge after I spent a half and hour (and several fingertips) removing so. many. staples. it wasn't funny - after having warned him the year before not to staple stuff! following year there were paperclips - he learned). And allows you to reward the best clients with a discount. I've gotten a few thank-you notes for the discounts! Real-life 'thank you' pretty cards mailed to the office. Those get put in the client's file.

"How Do I Change Ownership of Replacement Property After a 1031 Exchange? If that is your intention, it would be wise not to act straightaway. It’s generally advisable to hold onto the replacement property for several years before changing ownership. If you get rid of it quickly, the IRS may assume that you didn’t acquire it with the intention of holding." Frankly, the way these exchanges were handled raises some serious questions !

Charge them the new price, then give them a discount for superb organization.

Tax Home Your tax home is the general area of your main place of business, employment, or post of duty, regardless of where you maintain your family home. Your tax home is the place where you are permanently or indefinitely engaged to work as an employee or self-employed individual. Having a "tax home" in a given location does not necessarily mean that the given location is your residence or domicile for tax purposes. If you do not have a regular or main place of business because of the nature of your work, your tax home may be the place where you regularly live. If you have neither a regular or main place of business nor a place where you regularly live, you are considered an itinerant and your tax home is wherever you work. https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion-tax-home-in-foreign-country Generally, your tax home is the entire city or general area where your main place of business or work is located, regardless of where you maintain your family home. For example, you live with your family in Chicago but work in Milwaukee where you stay in a hotel and eat in restaurants. You return to Chicago every weekend. You may not deduct any of your travel, meals or lodging in Milwaukee because that's your tax home. Your travel on weekends to your family home in Chicago isn't for your work, so these expenses are also not deductible. If you regularly work in more than one place, your tax home is the general area where your main place of business or work is located. https://www.irs.gov/taxtopics/tc511

I haven't had to report a 1031 exchange, only academic experience. But I thought one requirement for a 1031 exchange is that the replacement property needs to be titled the same as the exchanged property. Is that incorrect, or is there an exception if the LLC members are the same in both the replacement LLC and the exchange LLC? I would probably grab an NATP self-study course to guide me through the tax return reporting. Hopefully, preparers with practical exchange experience reply to your post.

funny!! that is what my son said!

Residency and domicile are two different things. Your client is domiciled in the other state, but IL still considers him a resident. There are many factors that can be used to determine residency, and only one is where the TP lives or spends time. Basically, where has the TP planted his flag so to speak: driver's license, car registration and inspection, voter registration, church, doctors, banking, where the rest of his immediate family lives, where the kids attend school, mailing address, still maintains a home in that state, social club memberships, etc.

I am not going to search for it, but I remembered from some years ago that the IRS said "tax home was where you earned the majority of your income. "

For the most part, I raised prices 20% this year - but have been way too low for too long. And will go up at least 10% again. However, my issue is how to raise the prices when some of the clients have listened over the years and send their paperwork in so well organized - I can fly through it and should lower their prices!! When I think I will get flak, we talk about the rising cost of everything else - labor, paper, toner, etc and they agree all is up. Many of the lower end do their own - 1 S corp is using turbo - good luck! And I do need to downzie D

part of the irony of being a Circular 230 practitioner--Office of Professional Regulation can throw the book at us.

How do these companies get away with this for so long? After the first couple of missed payments why aren't they shutting these scams down? It seems to me this would be some low hanging fruit that would be easy to stop.

I have always used Medlin when I have had payroll clients. Recommend it to clients who do their own payroll.

The last time I looked, Intuit has a public facing import, but it has a fee. (A pay us for not using our payroll software fee?) This may have been an alternative income stream when they failed to get banks to accept their file format and usage fee as the defacto standard. There was a third party who attempted a work around, but they got blocked often and have to provide constant updates. No idea if they still exist. Much easier and cheaper to manually play monthly or quarterly payroll totals (into your accounting software). The details are in your payroll records already.

States have it "easy". They can claim you are a resident, and it is up to the TP to prove otherwise. CA and NY are the examples of the toughest bullies. I am sure other states have claimed aboard the "tax everyone" post-Wayfair (SCOTUS) train. Folks who legitimately want to move domicile, such as those who live full time in an RV and want to choose best for them domicile, hire experts to help. The basic advice is "leave no trace" in your former domicile. They talk about things like bank accounts, DL, doctors you see, etc. Another example is online sellers can now be taxed based on the location of their web site host's machines, where their customers are located, etc. Not jsut sales tax, but income tax. Someone in CA clicking an email link on a site (say in NY) for a business in a third state? The business may be liable for sales and income tax in all THREE states (plus localities)! No more Quill protection, Wayfair ruling has opened a real can of worms.

I don't care how long I live, I just want to be healthy when I die.

You may not live forever doing that, but it sure will seem like it?

I had a client with that issue, 3 years running. Ended up calling the state taxpayer advocate and reporting it as harassment of an elderly taxpayer. They stopped. I mean, fer gosh sakes, the state sends out the funds, collects their own tax, and sends the 1099-R, and the taxpayer has to prove it?! In what universe does that make any kind of sense whatsoever?

My father-in-law always said the only thing he’d like to know is where he’s going to die. Then he would just be sure to never visit there.

The heirs of the other two partners should have gotten a step up at the date of death of the partner from whom they inherited

My practice would never withstand that kind of increase, at least until they start to check around. My rates are always based on the client's ability to pay and personal circumstances. My business is not all about money. My business puts the client first. I can do that because of my personal circumstances and the fact that I pay for extras; not for living expenses. Also, I have a deep sense of compassion and helping out the little guy.

Oregon requires every one to licensed plus 30 hours of CPE every year. With the number of baby boomers retiring, we actually have a shortage of accountants and preparers. The national tax prep firms actually charge more than I do.

"A Lake Oswego entrepreneur is facing up to five years in prison, after pleading guilty to stiffing the federal government out of more than $24 million in taxes. Robert Kohnle was the CEO of Aliat, a company that helped other firms manage their payroll and health care benefits services. But lawyers for the U.S. Department of Justice said that in fact, Kohnle spent six years, between 2016 and 2022, keeping the payroll tax withholdings of his clients’ employees — including income, Medicare and Social Security taxes — instead of turning them over to the Internal Revenue Service. In total, Kohnle bilked the Internal Revenue Service out of $24,816,602, they said. He pleaded guilty on Friday." Awash in a sea of con artists

For me the biggest problem with Intuit and QBO Payroll is their aggressive data mining of all the payroll data and using that information to increase their income. For example if your client agrees to give their employees online access, Intuit will offer the employees advances which will be automatically deducted from the employees next paycheck minus fees and finance charges of course.