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I received an email from "Caroline Stone <[email protected]> stating that Synovate was hired to conduct a survey on behalf of ATX. Email has a link to the survey site. Survey to take approx 15 mins. I am always hesitant to open these or participate. Anyone else receive this?

Seemed to work ok for me. My subscription info didn't come up, but if I click right above that on "Order Status" I can see all my current products, their ship date & tracking number. The "Year" column is reporting the wrong year, and no installation codes are shown. My current renewal shipped in 7/07 is showing it is for tax year '06. Maybe the site was under maintenance.

Thank you MAMalody. I knew this was a very simple question, but I'm just not thinking clearly today. Two sick dogs through the night ended up at vet today. I'm glad I didn't have anything too complicated today. Thanks again for the help.

Thank you OldJack. The wife is also an employee of this company, got $5000 in cash from the company. No life insurance or cafeteria plan was involved. It was only stated in the buy-sell agreement. I was thinking it should go on 1099-Misc, box 3 as other income, taxable to her. I wasn't thinking about it being a fringe benefit, that's why I didn't consider the W-2 reporting.

One of my C corps had a shareholder die during their latest fiscal year. The stock redemption agreement states a fixed payment of $5000 as a death benefit to the widow. This is in addition to the price of the stock redemption. Is this deductible as an ordinary & necessary expense? Is this taxable to widow & is it reported on 1099-MISC as other income, or because it's a death benefit non-taxable? Thanks for any help. I'm definitely not thinking clearly on this one!!

I just discovered an error on Form 1099-INT issued by my client. Total of 4 1099-INTs were filed. It's been awhile since I've had to correct one of these. Is this right - I have to resubmit all 4 with just the one marked "corrected"?

I call it an additional tax. It is stated as "10-percent additional tax" in the code, pubs, instructions & the forms. Commonly it is called a penalty, including tax preparers. My policy is as OldJack stated. If the taxpayer would have owed the additional taxes with a properly prepared return, then I would not be reimbursing for this item. However, I would pay any interest or other penalties that may be involved related to the error.

I agree with Lynn. I've never heard of this $5K limit. Also, your client should make sure that the 17 year old's duties are not in violation of worker comp laws. Ex: here in Delaware it's a violation to allow an under-18 worker to operate the french fry machine or meat slicer (at Arby's, McD's, grocery store deli) but they can be cashiers, servers.

Agree with Old Jack. I like to see who's logged on, but knowing about the last clicks is unimportant to me. And I've never had Google appear. I read many of the posts. I try to learn something. When I see a post that may pertain to my practice, I'll use that info to further research on my own. Many times I read and the answer is already posted. Just because a user is reading and not posting, does not mean that the member has the knowledge and is withholding it. And if you really want advice from a specific member, there's always the option of sending a direct PM to that individual.

calculated, sort of: 1 human for every 2 lizards. Meaning that 1 human & 2 lizards would have a total of 10 legs. 80% of legs would belong to the lizards, since snakes have no legs. 70 legs * 80% = 56 legs for the lizards / 4 legs per lizard = 14 lizards. 14 lizards, so 1/2 # of humans = 7 & the remaining # must be the snakes at 6. It proved out with the total # of heads at 27. Surely, someone will post the algebraic formula that is easier than my way. :)

6 snakes, 14 lizards, 7 humans

Hmm, is the trend escalating? Is it because the state's Czar, oops Governor, pronounces California more like the word "cauliflower?" :P

Also, you need to consider the compatibility of style and philosophies of running your individual practices. I was an employee of a CPA firm that was selling out to an individual wishing to acquire our firm to expand. Long story short, here were some of the problems encountered: the new owner alienated most of the staff, new method of billing differed and angered largest and most lucrative business clients (progress billed monthly instead of billed at completion only), during a transition period, both offices were kept open instead of one making the new owner a very absentee owner-manager - and engagement planning was not completed properly, staff lacked appropriate supervision, computer systems used were different: tax programs, write-up, research. And probably the biggest of problems was this: the owner of our firm was not truly ready and willing to give up control. Ultimately the deal fell apart. More than a year passed before another arrangement was finalized.

Yes, when TP has multiple 2nd homes, TP can switch which is considered the 2nd home for deduction purposes. Normally, the home elected as 2nd residence is deducted for entire year. Code provides 3 circumstances where a partial year could be used. If you have Kleinrock, it has a good summary of the basics in the 1040 compliance handbook at 13.6 "qualified residence interest" to use as a starting point for further research, if needed. Also, here's some info from that same section on homes under construction: Home under construction A house under construction is a qualified residence for a period of 24 months provided that the house becomes a personal residence when it becomes ready for occupancy. Thus, interest on a construction loan is deductible as qualified residence interest. However, before construction, interest incurred on the construction debt is non-deductible personal interest. Reg Sec 1.163-10T(p)(5)

The "1040 EF Info" form has a tab called "E-Filed Forms" that lists each form in the e-filing. A similar form and info exists for the states. Worksheets are NOT included when e-filing, unless specifically required by the IRS.

My client's stock redemption agreement calls for monthly payout over 8 yrs with balloon (if needed), at a fixed payt amount (not fixed principal). Interest rate for this obligation is the lowest rate specified by Code Sec 483 to avoid unstated interest. The stock payout will be done in about 4 yrs, so no 8 yr or balloon. Still, this obligation is in the mid-term range. For my latest hypothetical presentation, I used the rate from June 07 Table 1 of 4.55%. One of the minority stockholders said HIS accountant told him that I used the wrong rate, but he couldn't remember why it was wrong. So back at the office I looked again, and reg 1.483.3 referred me to 1.1274-4 for the "test rate." This reg talks about the 3-month rate. The rates were Apr=4.52% , May=4.53% . Based on this, should I really be using the rate from April?

And don't forget the mileage to the post office to mail in the entry. :D

I checked their website too. Did you see that this is a membership in their "alliance" to promote their "brand name" nationwide and that they want you to add their name to yours? And also that your membership is subject to approval by their board of directors?

I use ATX TTO as well and just renewed for next year. Did the sales rep indicate that you would be receiving the doc mgmt system in Aug or is that only if it's purchased separately? The reason I ask is because ATX website indicates that my current product subscription runs through 11/30/07. I've always assumed that's how long I have to use Kleinrock, the CPE, etc if I didn't renew. And at that date, is when I'd be expecting the new programs. I'd like to have the new programs sooner - that much longer to learn before next season! An update to my post - I just read the other topic of ATX early renewal & their contest. One post stated that ATX claims that doc mgmt prgm will be released by late summer. I hope we get it then, but I'm not holding my breath.

Don, thanks for posting that site & the info. So simple to isolate & display the splits.

I checked GE's website & it's very frustrating. I get the same historical price you have of 1.143229. It does show 10 yrs historical of dividends also reporting 2 splits: 2 for 1 for cert. dtd 5/9/97 and 3 for 1 for cert. dtd 5/5/00 I couldn't find any other sites that would give you history of other splits, but there are probably others. You might try contacting GE's investor relations directly. GE's website is www.ge.com

Take the quiz to test your powers of observation: http://www.oldjoeblack.0nyx.com/thinktst.htm

I tried a sample return & seemed to get both 8829's figures to flow to 1 Sch C. Here's what I did. I opened forms for 1040, C & 1st 8829. At upper-right of 8829 above the form, make sure that 8829 is linked to Sch C. Just below that, choose "Home #1" from the drop-down choices. Enter data. Then go back to the Sch C and point to line 30. Use "jump" feature (the bunny). When the box opens, choose "add new form to add a 2nd linked 8829 to the Sch C. Then above that 8829, make sure to enter date in service, and choose "Home #2" from the drop-down. Enter data. Using the above, I did see that totals from each were combined on line 30 of the one Sch C. I didn't try printing anything. The program had a red warning at top of 8829s that more than 1 8829 was linked to one Sch C, but I didn't see any red entries using the error-check feature. I'd be particularly careful with the depreciation to verify that full year's deduction wasn't allowed on either residence. This might require overrides. I'd be interested if you are successful with this procedure. I did not have this issue, but I do recall this question was asked on the old forum more than once. Judy

Thank you, Bob. I'll be using this for sure. And thanks for the birthday greeting. Judy

Agree with Redux. Chit Chat is a given. Then there's the tax-related postings. A separate category might be of some benefit during tax season. From the old ATX forums we probably all remember that the General and Tax forums had duplicate postings by those infrequent users that were impatient for an answer. I read all the forums and found it annoying to see multiple postings of the same question. So that could be added at a later time when necessary???? But maybe we need one broad category that could capture the postings for program-related issues, such as how to use the program or input a particular item, and for e-filing help. This area could also be for the discussion of alternative programs being tested. I really like this forum. Erc, you have really come through for us. And I do hope that those of us that may use other software in the coming years will still be part of this family. This is a great group of people. Just my 3 cents. I just had a price increase of 50%.