Pacun

MFS but you will have a hard time to find her social security number and you should itemize just to be on the safe side. Maybe she got a divorce in absentia.

I thought condos were built on the air and there was no land involved. The last time I represented someone, the auditor didn't have an issue when the whole price was depreciated. I guess my client belonged to the co-op and that's what made the difference. Unless the condos are built on a golf course, the land for each condo is very little if a building. A lot of it if a house is converted to condos.

Why don't you show them the door then from the very beginning if you feel you have a conflict of interest? The other preparer will maximize your clients return, even if it means that the other parent claims the child and your client has to pay instead of getting a refund. Conflict of interest? I don't see any conflict of interest because they are not married and you can do both returns. Do we agree that your client will decide what maximizes her return in these scenarios: Parents not married Child slept in the same house for more than 183 days with each parent refund for the mother if claiming the child 2K, if she doesn't claim the child she will pay $500 to the IRS Refund for the father if claiming the child 3K, if he doesn't claim the child he would get a refund of $300. All I do is to demand last years return from both parents then I can see why the other person doesn't change preparers. If the other preparer is honest, I will be able to compete with him. If the other preparer is not honest, I tell them that I won't be able with him and I point out the possible inflation of expenses or credits. For EIC, all you have to do is determine if both could qualify for the credit. Then I use my clients profile and then I enter the income of the other person and then see the refund and the close the return and not save it. Then I go with my clients info and then I prepare that return. It doesn't take a long time. Tie breakers are designed to be used only with both parents claim the child.

It seems correct to me.

Even with a perfect program, we always make a mistake. On another post, I said, what's more embarrassing, to prematurely efile or not to efile, I understand how you feel and I believe prematurely efiling is the worst. When I have special circumstances (yours should be a special circumstance), I always efile a couple of day later. I tell my clients that I will need time to review one of the forms more deeply and I let them know that their refund will be available in 3 weeks if they have direct deposit.

As long as they are not married, the child didn't provide more than 50% of his own support, and the child slept in the same house more than 183 days in 2013 with each parent, you should feel comfortable doing the comparison. For HOH, remember that the child should be supported more than 50% by that parent, etc.

I think this type of requests has been sent to congress since the code and all regulations were only 100 pages long. What Congress does most of the time, add a couple more hundreds of pages of code and regulations.

So, according to the answers, unless you have two jobs, everything is commuting? As you know 99% of the firms who have money to send an employee for a weeks training will pay for those mileages.

I got it as a joke and mine was also a joke too.

I see a topic about M&E that is interesting. So an honest tax preparer shows the door to a client and there are about 5 more preparers willing to take a new client and not only lie about M&E but in other areas, so the honest preparer looses a client and the clients goes to another preparer and never gets audited. Well the honest preparer says "I don't want those as my clients, I only want people who don't lie in their taxes, That's my market and that's what I am going after". Does anyone know the percentage of his market? Do you think that demographics will make his market next to 0%? Just wondering about the percentage. How honest is the population? Well, that depends on what kind of microscope the investigator has, correct?

Silence is golden. I think when you change institutions, they must give you a document with code G if it a transfer. Code 1 if they send the money to the client. In any event, ask your client to find out more about that and then document what they tell him and file. If you want to be extra careful, request a transcript from the IRS in September and amend if needed.

AND a lot of marriages too, correct?

Your process might work but when I forget to create the efile, it is hard to find the "created", "held" or "accepted" status. The other problem is when you create an efile and by mistake you efile it before the client has signed. So what's worse, forgetting to efile for a client or to efile prematurely? Both situations are bad, really bad and embarrassing.

It is a memory issue and it could be with any program on the computer. Start the computer without any programs on the startup and then open ONLY ATX and see that you will be able to open more than one return, provided you have at least 4G of RAM.

Pull out the ITIN letter and make sure you didn't make a mistake on the name or ITI number.

I efile at the end of the day or next day. I have a RED folder and a Yellow Folder. Each time a client signs, I place it on the RED folder. At the end of the day, my partner reads the name and I check the Federal return to be efiled. When she goes through all of them, I send them. Then she puts them in the YELLOW folder. If a return is rejected, I pull it back and place it on the RED folder. About a week later, my partner takes out all the clients on the YELLOW folder and she checks "where is my refund" and checks it and files it. If there is a note such as "your refund will be reduced by child support", she makes a little note and informs the client if that person calls. For the states, I have everything to be held. When the IRS accepts it, the held status becomes 'created' and I file the state return, without checking any papers.

Let's say you have a client who bought a house in 2008 for 400K, then in 2012 rented it out when the FMV was $275K, let say after renting it for 5 years, clients moves back to the house when the FMV of the house was $450K and after 2 years of living there the house is sold for $550K. So, I do want to keep notes in ATX that should be rolled over just like the address or bank account. The line should be able to be modified by adding additional infoa and will read something like: "Note's date 1/1/2012. Cost $400K, FMV $300K. Depreciation started this date". "Note's date 1/1/2017 Depreciation taken $50K. FMV on the date of conversion to personal $450K". This will help me figure out exclusion, gain while rented, depreciation recapture and all the goodies at the time of selling.

I get confused working with one return, so I never open a second return. I also get confuse when I open a second year on a second screen. I have worked for some time on a return and then I realized I am on the previous year. I know that I could use different color for each year. I send my clients a coupon for $10 in December to let them know that I am in business and one of the requirements for the discount is to bring the previous years taxes. I like that because when they are missing a form, I show them the previous year and I say "where is this form this year?".

I agree... Well, in this case, it doesn't matter if she is HOH or single with a child. HOH creates its own flags, why will I add flags to the return? I understand what you mean, but why to pull out the worksheets in this case if you just want the maximum tax benefit for the lady.

" I would say: "Next time I will be more careful when selecting my friends". I guess I come from a different tradition but I don't see this offer at all. I see some people that come and say "Can I pay you on Friday when I get paid?". I always say yes and if they don't come back, I don't care. When it comes to computers, people do expect to fix their computers for free and that's why I don't let them know that I know a little bit about computers.

Why make it harder than it should be? With13K income HOH is the same as single claiming a child.

I like it.

I disagree. The mother can claim the child even if she provided only 0, zero (nada), of support. She doesn't qualify to be HOH. If the father doesn't claim the child, both will file as single, mother claims the child and that will be the end of the conversation by the parents, preparer and the IRS. If both parents claim the child, mother will file as single claiming the child, father will file as HOH and claim the child too. At that point the conversation will start by the IRS and will send a letter to both parents. If the mother can prove that the father had to go and work one night in NY and she stayed with the child that night, she will win the tie breaker because nights for the mother will be 365 and nights for the father will be 364. That's without mentioning vacation and most of the time mothers stay with the children 365 nights in a year. If the mother can prove 365 nights for her and only 364 nights for the father, the IRS will force the father to change from HOH and file as single without any dependents. If father and mother have 365 nights with child, father will qualify as HOH and keep the child as dependent because he had more income than mother. At that point mother will be single with no child and no all the goodies that come with the child. I think we are confusing when a full time student child age 20, makes $9,000 and didn't provide more than 50% of his own support. If the parents don't want to claim him, he cannot take his own exemption and it is lost if parents don't claim him.

Last year I didn't have any issues whatsoever and this year I hope to have less issues. I am very happy with ATX this year. As I said last year "ATX is fixing so many issues in 2012 that the 2013 version will be a very robust package out of the shelf". I also said that the ones that jumped the boat in 2012, they will purchase the 2014 version when they realize how good this year was.

Let's say that a U.S. Citizen living in the U.S. opens a UBS account with 80K. The bank invest that most of that money in foreign countries. Is the client required to file FBAR and all that good stuff? How about if you have a $1,000,0000.00 401k in fidelity all over the world?