Crank

I have one of those and to add to the nightmare it has with holdings in several states

I came back this year. Running fine on Windows 8.1, new machine I7-4820K 3.70GHz processor and 16GB RAM

Thanks jasdlm! It appears that contrary to Pub 502, it is deductible for a sole prop without being in the business name. I guess I have some amendments to do ...<sigh>.

Yes, it does pay to read carefully That is why I asked. I have a client who insists it is deductible for his sole prop and the insurance is in his name. His argument is that since he is a sole prop his name IS the business name. But he is not an S corp. so I only ever included it on his Sch A. I just wanted to know what others think about this because I may have to let him go as he is adamant that it can be deducted on the 1040 line 29 and I believe it is a sch A deduction.

Oops spoke without thinking again, not Sch C but line 29 This excerpt from pub 502, p21 seems to indicate they arent deductible for sole props when the policy is not in the name of the business. If you were self-employed and had a net profit for the year, you may be able to deduct, as an adjustment to income, amounts paid for medical and qualified long-term care insurance on behalf of yourself, your spouse, your dependents, and your children who were under age 27 at the end of 2013. For this purpose, you were self-employed if you were a general partner (or a limited partner receiving guaranteed payments) or you received wages from an S corporation in which you were more than a 2% shareholder. The insurance plan must be established under your trade or business and the deduction cannot be more than your earned income from that trade or business.

Are health insurance premiums deductible on a Schedule C (Sole Prop) when the policy is not in the name of the business but in the name of the individual?

Comments in this thread are really pushing me to reduce the number and time of face to face interaction I have with clients. That is my biggest problem! Most clients will drop off their info, we discuss over the phone and get more information if required and then they just pick up. However, I do have about 20% that insist on a drop off meeting to "explain and review tax documents" and then also want an "exit meeting" to review the final return. Each meeting eats up about an hour of my time which is non-productive and could be used to work on returns.

AC/Heating employee

Yes its true for the Fed return. But its a 100% direct deduction for our State and Local returns.

Its probably quite common. I do inform them that the IRS could audit and disallow it. I also make notes. But I still feel uncomfortable.

TP claims $150 in "work clothing". I inform TP that the clothing has to be "not for everyday use". i.e. uniforms, company logo, steel tip boots, etc. TP says no I just buy regular jeans and I have deducted them for years. After I press the issue he changes his claim and states that the clothing does conform to the rules. The receipts he provided dont state either way. Now we arent auditors and the TP is signing the return but this makes me very uncomfortable.

Out of curiosity I decided to Google TRX Tax Exact 2013 and received no hits concerning complaints with this years software. Also, there have been no posts in this forum about it. Either it is functional or not many users.

I always require payment before the returns are filed. Ive offered credit cards for three years now and no one has ever used it.

Well, his mother just picked up his tax info and she stated that he just wants to show the 1099 to the lawyer. It appears he may be returning. I informed her that depending on when he comes back he may need to file an extension. Im sure that lit a fire under her butt. Needless to say I didnt charge anything and was nice as could be. I should have taken up acting.

Long time client's child, age 26, just returned my calls stating that he wants to pick up his tax information because his Grandmom told him he should get a second opinion on whether the 1099 he received from his former employer to settle a wrongful termination suit is taxable. I told him it was and his lawyer told him its not taxable. The return was complete. Im considering charging him something for my time. Id like to be there when he gets the bill if someone else does his taxes.

http://www.foxnews.com/tech/2014/03/08/windows-xp-it-time-to-say-good-bye/?intcmp=obnetwork

Thanks for your input. I will discuss it with her.

Yes, I agree, it is complicated. And the school district doesnt help because they told the TP that all of their mileage is deductible.

Thank You!

A salaried W-2 teacher drives to disabled students homes and never to a classroom. What portion of the mileage, if any, is deductible? The student home miles in excess of what would be the normal commute miles to the school?

http://money.cnn.com/2014/03/05/pf/taxes/same-sex-taxes/index.html?hpt=hp_t3 I havent run into this, yet. Wow, that's some pricey tax prep.

I'm having no issues with Win 8.1 and brother MFC-490CW, HL-5250DN & HL-2270DW printers. As was previously stated, go to the Brother support site and install the latest Win 8.1 driver for your printer. You shouldn't have to use that high of a resolution. Jack, I'm not sure what was posted by ATX that you are referring to but the 2013 ATX System requirements list Win 8 (and above) as recommended for stand alone installs. Also, there is nothing wrong with Windows 8. If you work in desktop mode it is very similar to Windows 7. The "Start" screen is for Apps and obviously was meant to function in a tablet environment but you don't ever have to go to that screen or use the Apps if you don't want to. Desktop mode is fine and Win 8 (desktop) is an improvement on Win 7. ATX_2013_System_Requirements.pdf

I just love the FAFSA people. Got an 1120S & 1040 on 2/24 stating that they need the numbers for the FAFSA by 2/28. Hahahahaha!

Same here.

In windows I believe it is check box under folder options in control panel.