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Facts and Circumstances. Document, document, document. Be ready to defend at audit. You can distinguish the BS from a person who really wanted to start a business and make a profit. IF the expenses were things like filing fees for SOS, software, letterhead, accounting and legal, things that are really business expenses that have receipts and cannot be used personally after the closing of the business, then I say you have a good argument. If the startup expenses are a new iPhone, awesome computer and trips to resorts to hear about an awesome opportunity in a MLM company, then I would be very, very leery. Tom Longview, TX

ATX has had memory leaks ever since the program was rewritten with a shareware database called "Raven" back in 2011, sometimes referred to as the "2012 Debacle".

I have never come across anyone saying the way to keep the computer clear is to boot in the morning AND restart after booting. I am not sure what is gained from the restart that the overnight power off provided. Maybe something new or that I am not aware of? Requiring a mid day restart certainly points to a "leaky" program. Sounds like there are known memory leaks/issues, for many years.

Funny - scroll back a few days ago I had a minister pay headache myself. In my case we had always filed 1099 and come to find out the treasurer was filing 941. I created a W2 and will not continue with this particular client in the future.

Anyone dealing with this yet? Just opening it up for discussion. Seems outlandish but then what else is new?

Back in December the House passed a bill 420 - 1 to delay the implementation by one year. The Senate has yet to vote on this bill.

Check and see if he had a Universal Life Policy that generated Dividends and Interest

We put the requirement to file in the engagement letter, more clearly than past years' one-sentence fbar notice. But we won't do them (nor the fbar; just the 8938s). Preparer penalties can be vicious on anything to do with foreign reporting. I have my areas of specialty, and this ain't one of them.

I will file my own BOI and no more. I will give them a letter so that they are aware of the requirements supported by several pages with more detail. I am not going to answer questions or offer advice. If they have questions or need advice I will refer them to seek out a knowledgeable attorney. FINCEN BOI has nothing to do with accounting, tax law or tax returns. It is not administered by the IRS and our privileges and responsibilities under Circular 230 do not apply.

We are their trusted advisors and even if you are not going to file these for your clients you should still be up on the requirements and be prepared to offer them some advice besides referring them to a government website. There are many accounting groups putting out 1-2 page summaries, in simple plain language for you to send to clients. If you are willing to take this on, it could be a huge money maker for during out slow summer time. We are offering to do the first, initial filing but will not be doing any monthly monitoring. Every accounting group and E&O company is saying to make sure your engagement letters explicitly state that your tax work will not include BOI filings but advise them to educate themselves as to the requirements. Our separate BOI engagement letter will be a few pages long too.

I don't mess with this stuff. Too scared. It may work for some and some may be more knowledgeable about this. But I keep away from it. I'll just have to close program when I get the message and reopen. I don't like it but oh well.

Creative imagination at work?