Pacun

FAFSA users can file and then amend. IRS is not postponing the start filing date for anyone. They said that if you are filing for those 3 credits/forms you cannot file. As I stated earlier, in most cases, the percentage of people who itemize, are teachers or students that pay less than 8K in higher education AND file before mid-Feb is very slim. Also, I tell my people not to visit me before Feb 15th because everybody wants to have their taxes done the last week of January and the first week of Feb. This will give me a chance to tell my PITA clients to come back in a month because the IRS doesn't have schedule A ready. Hopefully they will not come back!!!

I had a windows XP 32 bit-computer. In December 2009, I bought a new Windows 7 64-bit computer and I installed ATX 2007 and then copied the data for 2007. I tested 2007 by opening a couple of returns and made a little change on a form and resave it. I installed 2008 and copied the data for 2008 and tested it. Finally I installed 2009 and tested it by rolling over a return and worked on it. NO PROBLEMS. You should do the same. If 2009 is working properly, then you know it is a flaw with the new, 2010 software package. For those who have both programs installed but installed them backwards, please open a return in 2009, save it and try to roll it over to 2010. As a last choice, you should install 2010 on the old computer, roll over all the returns from 2009, test it and then copy the whole database folder to the new Windows 7 computer. I should admit that I am not that creative and I let the program dictate where it wants the data by default. Regarding the back up, if a tax paperer forgets to make sure that ATX data is backed up because it is NOT under documents, something is wrong with his/her "computer". The only other thing that I can think of is that the account that runs ATX is not your account that that account doesn't have full permissions to your profile (I don't expect this paragragh to make much sense anyways).

I will try. Thank you.

Correct. Those with higher AGI are not desperate for the money/refund. They can wait until mid/end February and their refund is most of the time low. Most of them have investment and are waiting for other documents anyways. I am talking about the ones with low incomes who file as soon as their W-2s are distributed.

It is not worth it to purchase this immigration software unless you have enough clients every year. You can fill out most (if not all) immigration forms on line. Forms and fees change frequently and you have to renew every year. This software is good for immigration lawyers. By the way, Immigration is another field where the government wants to control in the near future. Only lawyers will be able to practice. In any event, immigration law is very tight right now and it is almost impossible for people to find a relief from removal. Those in removal procedings need lawyers and there is nothing similar to Enrolled Agent in that field.

No big deal. Maybe more money for us (see number 3 below). 1.- We don't have many teachers (this credit is about $25-$75 anyways). 2.- If you qualify for the $4,000 tuition deduction, you qualify for other credits that are not affected. 3.- If client owns a house, file using the standard deduction if client needs the money badly. Then amend in March. If you have a person with all 3 affected credits, go to option 3 above.

Why don't you copy the previous year data folder to the root of C:\ and test?

I agree with Old Jack. We need to separate tax and business matters on this forum. Normally I only check the first page. I have missed important information because my first page is filled with Happy Birthday and other "important" stuff. I have not listed by date of birth because of that. I do not have a face book account and this is the ONLY forum I visit. I visit this one because it is a learning experience and there are many knowledgable people on this forum. If the forum is filled with "important", non-tax stuff, our gurus will simply stop coming. I am pretty sure that during this tax season all of us will donate to the forum. I am sure if donations are better, this forum can be better. One suggestion is that you should be able to select, I want to see "Happy Birthday" or "NT" postings. That way, if you uncheck those two categories, you will not see anything that includes "happy birthday" or "NT" on the title.

I like when your representative is as smart as Catherine. Very valid and logic points. Can we get a discount on your software Medlin? I heard good things about your payroll software and I will visit your site soon.

I agree, we appreciate all your help provided here. I hope every body gets on board after Jan 15th.

I was able to register for the exam by calling Prometric.

LION, I haven't used e-services but I am registered. I do need a transcript of my own tax return on the fly. What do I need to do in order to get it from e-services?

This sounds like me. My job is computer support and when I don't know the answer or if the answer will embarras me, I use something like: "Email me directly and I will reply. I prefer not answering specific support questions on the landlord's hall or elevator".

I think they get tired of our stupid, low level questions!!! :spaz:

I applied for a PTIN today and I got a provisional number that will expire in a year (12-31-2011). I tried to schedule the EA exams but I couldn't. Did everybody get a provisional number and how long did you wait to get the final number? I wonder when Prometric will get my info and allow me to schedule the exams.

I would like to know what software you are using and (IF POSSIBLE) how much you are charging for: Payroll (are in preparing FUTA, SUTA forms and issuing W-2) Balance sheets Income statements Registering companies (getting FEIN, registering company with State) I only prepare taxes and some 1099-misc (with the new requirements, all preparers will need to file 1099-misc for clients). Last question: How much of those can ATX MAX package do from the shelter?

Depending on what browser you are using, you might need to adjust this suggestion. Open IE, pull down the tools menu, internet options, security, trusted sites, site... Add https://*.irs.gov to the trusted sites and lower the trusted sites security level to low. If need, lower your internet setting one level down. Move it up when you are done.

I bought only 1040 Office for that year. So, I don't think I have 1120 forms in it. Sorry. You should check what years you are missing and for $100 they will send you all years.

"So your taxpayer should NOT over-withdraw into his less-than-five-years-old conversions. Catherine" What happens if the taxpayer who is 68 years old over-withdraws? That's the question. I believe nada but I will let others reply. This is from NATP: When does the 5-taxable-year period begin and end for purposes of a qualified distribution from a Roth IRA? The 5-taxable-year period begins on the first day of the individual’s taxable year for which the first regular contribution is made to any Roth IRA of the individual or, if earlier, the first day of the individual’s taxable year in which the first conversion contribution is made to any Roth IRA of the individual. The 5-taxable-year period ends on the last day of the individual’s fifth consecutive taxable year beginning with the taxable year described in the preceding sentence. For example, if an individual whose taxable year is the calendar year makes a first-time regular Roth IRA contribution any time between January 1, 1998, and April 15, 1999, for 1998, the 5-taxable-year period begins on January 1, 1998. Thus, each Roth IRA owner has only one 5-taxable-year period for all the Roth IRAs of which he or she is the owner. Further, because of the requirement of the 5-taxable-year period, no qualified distributions can occur before taxable years beginning in 2003.

It seems a straight forward installation. Each year we install the server portion on the first computer and are ready to expand to a network version. Some of us don't use the network version because we don't have the resources (in my case, I don't have a second computer). In some other cases, they don't have a fast enough network, the knowledge or need to run a network version of ATX. Keep that in mind. All you need to do in your case is to map a network drive to the existing server (your 2009 Tax year work computer) from your new computer and install from there. Both computers will use the same data and only one will be able to work on a client at a time. The book that came with the new 2010 software on page (lucky) 13 shows how to do it. I believe step 2 is missleading since you will not find the server icon without, first, mappinp a network drive to the "server". You should call tech support and ask them so maybe they correct their mistake for 2011.

There are few topics as complex, frustrating, and as misunderstood as taxes. T. Davies, professor of accounting at the University of South Dakota, explains the impact of tax reduction through a remarkably understandable analogy that is both entertaining and informative. "This is a very simple way to understand the tax laws," says Professor Davies. "Read on, as it does make you think!" Here's his analogy: "Let's put tax cuts in terms everyone can understand. Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: the first four men, the poorest, would pay nothing; the fifth would pay $1; the sixth would pay $3; the seventh would pay $7; the eighth pays $12; the ninth would pay $18; and the tenth man, the richest, would pay $59. "That's what they decided to do. The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement --- until one day, the owner threw them a curve (in tax language a tax cut). "'Since you are all such good customers,' he said, 'I am going to reduce the cost of your daily meal by $20. So now dinner for the ten only cost $80.00. "The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still eat for free. But what about the other six--the paying customers? How could they divvy up the $20 windfall so that everyone would get his 'fair share?' "The six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, Then the fifth man and the sixth man would end up being PAID to eat their meal. So the restaurant owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay: as before, the first four men paid nothing; now the fifth man also paid nothing; the sixth man now paid $2; the seventh paid $5; the eighth man paid $9; the ninth man paid $12; leaving the tenth man with a bill of $52 instead of his earlier $59. Each of the six was better off than before. And the first four continued to eat for free. "But once outside the restaurant, the men began to compare their savings. 'I only got a dollar out of the $20 reduction,' declared the sixth man, but he, pointing to the tenth. 'But he got $7!'. 'Yeah, that's right,' exclaimed the fifth man, 'I only saved a dollar too; it's unfair that he got seven times more than me!' '"That's true,' shouted the seventh man, 'why should he get $7 back when I got only $2? The wealthy get all the breaks!. 'Wait a minute,' yelled the first four men in unison, 'We didn't get anything at all. The system exploits the poor!' "The nine men surrounded the tenth and beat him up. The next night he didn't show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered, a little late what was very important. They were now Fifty-Two Dollars short of paying the bill. Imagine that! And that, boys and girls, journalists, and college instructors, is how the tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore. "Where would that leave the rest? Unfortunately, most taxing authorities anywhere cannot seem to grasp this rather straightforward logic."

Correct. But that will put the children (when they grow up) in the same situation of the father, filing taxes for a country they don't live in AND in the case of the children, a country they have never visited. ALSO, Having a US passport is a great thing when we visit allied countries but it could be a very dangerous thing elsewhere. Poster didn't say what country we are referring to, so a lot of speculations will be posted.

Your suggestion will create a lot of traffic to the IRS website since TurboTax users/preparers will prepare extra returns using Turbo Tax and then connect to IRS and use a pdf fillable form from IRS.gov and mail that one or simply use the free efiling from the IRS website.

The very FIRST thing you need to do is to look if the foreign country has a tax treaty with the US. It will also be helpful to have the tax return they filed with the foreign country and the last US return filed.

Very good question and I wish I had an answer. The way you are doing... it is correctly calculated by ATX since sch E uses the car less than 50% business. You don't have a problem on schedule C because you use it more than 50% for that activity. This sounds crazy but this might be the only way ATX will be able to handle it. Let's say your car cost $25,000 and you use it 50% for sch C and 40% for sch E. Let's say we run this car 25,000 miles in the year(10K miles for rental, 12,500 miles for sch C and 2,500 for personal) Just in case we have limitations, I would enter total cost of the car on asset input. I will also enter the total miles (90% business) and the section 179 and special allowance amounts. I would print this figures and have it for my records. (I would delete this asset or modify it and use it as the one for sch C below) In your case, I will input 2 cars: One costing $15K and the other costing $10K. The one costing $15K will be for your schedule C and personal and I will enter total miles 15K and this will be 90% business. The other car (costing $10K) will be 100% business for schedule E and I will enter 10K miles. (Remember that depreciation will be added to the real estate depreciation). I will have to divide all expenses (60% and 40%).