rich

Doing a practice return,I cannot find 1099c worksheet in ATX and if manually input $5000 as other income reported on 1099c,Isn't that income adjust to zero on line 21 other income when I attach Form 982 (completed line 1e and line2-$5000)for qualified principal residence forgiveness.

Thanks in advance.

Yes Jainen TP Took distribution from corporation.Thanks Jainen and Oldjack for advice.

TP discontinued Limousine business and coverted the vehicle for personal use with adjusted basis $7100 and FMV $3600.Should it be reported on form 4797.I dont see anywhere to input FMV of converted asset but only the selling price.

Thanks in advance.

if you plan to use scan& fill with ATX than printer be Twain compliant.

Rich

Thanks for valuable advice.

Rich.

Aren't all the W forms just plain paper? We still have to use the red forms 1099 and 1098.

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And it must be printed on laser printer.

Rich

I have a client DBA who wants to be setup as S corp in trucking business, Does he have to get new EIN,Bank account, ICC permit,contracts? I found so far is yes he has to ...just wanna make sure. Does it matter if the DBA name he used is available for corporation?

Thanks in advance

Rich.

I missed to attend the seminar but CPE credits are good for EA (Enrolled Agents) license renewal with IRS.

Rich

Talk to the helpful folks at VMS, they can help you with this sort of solution. And since they are from the old, pre-CCH ATX team, they know just what you would need and how to help you get it set up to perfection. You buy the old computer. they log into it [they will tell you how to start that] then they configure everything just right.

Thanks KC, Yeah I will in touch with VMS once I final the rental place.

Thanks again for all the helpful inputs.

Rich

This will be my first year in setting up office. I am wondering what will be the better way to connect multiple computers or all 3 computers should be stand alone?I wanted to know the options before the networking guy comes in.

Thanks in advance.

Rich,

First of all, let me congratulate you on having passed the EA exam. As far as the rates you should charge clients, I would consider what would make you a comfortable living keeping in mind that you want clients to come to you instead of going to your local competitors. Depending on where you are located, preparation fees vary greatly across the country. There is no one place to go to get a list of rates. I suggest you check out rates charged by others in your area.

Also, welcome to this forum. Much can be learned from all the great people who post on this forum.

Wayne Brasch

Thanks, Wayne , KC. I just looked at customer ref. forms. Its a nice marketing tool to discover and appreciate advice.

NO. The tractor is 3 yr property, the trlr is 5 yr. Codes are V1 & V4.

yes,u r right .i just checked the rev.rul. 2004-80 for truck/tractor definition. i was confused by heavy duty truck.

thanks

hi

it will be my first year preparing taxes as i got my EA license this summer, can i somewhere find the reasonable rates to charge the clients.should it be flat fee or per forms?

i expect to do 1040 and some 1120s.

thanks.

Rich

KC is right. who in their right mind would WANT to use SMR for 18-wheelers? all expenses should be itemized and listed, mostly in 'other expenses', not under 'vehicle expenses'. And since OTR tractors are depreciated over 3 years, its unlikely using accelerated depreciation even makes any sense.

Isnt OTR Trucks 18 wheeler 5 year property for depreciation?