grmy2h

From Pub 974........Determining affordability at the time of enrollment. Your employer coverage is not considered affordable, if, when you enroll in a qualified health plan, the Marketplace determines that your share of the cost of your premiums for employer coverage will be more than 9.56% of what the Marketplace estimates will be your household income and therefore that you are eligible for APTC for coverage in the qualified health plan. Eligibility for employer coverage in this situation does not disqualify you from taking the PTC when you file your tax return, even if the actual cost of your coverage was not more than 9.56% of the household income on your return. However, you will be treated as eligible for affordable employer coverage based on the household income on your tax return if: You did not provide current information to the Marketplace relating to your household income and the cost of your employer coverage during each annual re-enrollment period, or With reckless disregard for the truth you provided incorrect information to the Marketplace about your cost of premiums.

I use it and really like it. The clients that use it, love it. Works seemless with Drake's document manager.

its now available for download.

hmmm... that's a new one on me too...

I believe it was an hour or less for the forum password, once I requested it.

It worked on my iPad after I clicked the refresh icon.

The $400 discount is in effect thru May 2015.

I still have it too. It took support a few hours to get it working back then. I'm scared to touch it.

It will be input on the individuals return.

It's on the detail tab of the K-1 input screen about 3/4 of the way down.

"However, in the case of a building structure or building system, the taxpayer must expect to perform the activities more than once during the ten-year period beginning when the building structure or building system is placed in service by the taxpayer (Reg. §1.263(a)-3(i)(1)(i) and (ii))." You should not expect to replace a Heat Pump more than once in a 10 year period. The life expectancy is between 12 - 15 years with proper maintenance.

The HVAC is a structural component of the building system. HVAC usually has - 1. Heat Pump, 2. Indoor Air Handler Unit, 3. Duct Work. 4. T-stat Heat Pump performs a critical function of HVAC system. It's a restoration to building system, so an Improvement to the Building. Structural components recovery period is 27.5 on residential rental property. OP said "replaced" not repair. He replaced a major component. IMO

http://www.treasury.gov/connect/blog/Documents/Pell%20AOTC%204%20pager.pdf

https://itunes.apple.com/us/app/id957596138 - Description as on itunes - "The Drake Software Mobile Application is designed to serve up client e-file data to your mobile device. Check the status of your e-filed tax returns, review e-file summary data for your office, and check the status of Drake’s processing services. Data is accessed in real-time, so users of this app will always be able to stay up-to-date on pertinent e-file status information. We hope you enjoy using the Drake Software Mobile Application!"

I do this for my son's refund (age 23). We have a savings for him but its still in husbands name. However, I believe it's up to each individual bank as to whether to accept it or not.

Thanks everyone !! I would be comfortable with Tom's logic, but I'm not sure the client will be convinced. He insists that if he has problems with the IRS down the road that he could lose his state contracts. He is a real nice guy, but not a numbers guy and I just don't want to do anything that may cause more problems instead of fixing them.

This is his first year in business for himself. He started his company in February 2014. He was an electrician for a large government contractor in DC. Due to his fathers illness he left the contractor, moved back home (here), took a year off to help with dad and then started his own company (after dad passed away). I have not inquired as to what he made working for the contractor, but will.

Client says he hired this "bookkeeping and tax service" to "keep his books, do payroll reports and file his taxes". He says that when he hired him they agreed that client would write checks to himself for payroll and bookkeeper was suppose to do the 941's, state paperwork, etc. Bookkeeper was to initiate payment online. He says he saw where amounts were debited from his account. He never really paid attention to the numbers until he got the W-2. I believe the guy. He is well known in our area and I think if he thought it was being done wrong he would have fired the guy then and gotten it fixed. He has fired him now and come to me in a panic. He has state contracts and is scared if this isn't fixed, it could affect these contracts at a later time.

He is an electrical contractor. He states that if he hired someone to do what he does, he would pay them at least 40,000.00 per year. But in addition to doing all the service work, he pays the bills, makes the phone calls, etc. It is only him. His spouse did not participate in any way. Going forward I have him on a regular salary and I will be handling the 941's, etc. He is scared if he gets audited it will be worse than if we just fix it now. I have not dealt with this problem. I usually get my clients on the right track from the beginning.

Client is the only employee and is a service business. He didn't realize what the guy did until he got the W-2 form. He wants it fixed to reflect accurate wages/withdrawals. I'm trying to figure out the best way to do it.

He reported $2,600.00 per quarter, $10,400.00 for the year. Issued him a W-2 for $10,400. Withdrawals were no less than 18,000 per quarter.

When you find a S-Corp shareholder with unreasonable wages, would you correct it by correcting each quarter or making an adjustment on the 4th quarter? Previous bookkeeper ignored actual withdrawals of shareholder and fabricated 941's each quarter with very unreasonable wages.

Our 2014 backups are here. I had to unhide the hidden folders to be able to see the program data file. C: Program Data, CCH Small Firm Services, ATX 2014 Server, ATX 2014 Backup I purchased a "hard drive enclosure" when my last computer failed. I was able to insert the hard drive into the enclosure and connect via usb and retrieve the data I needed. Fairly easy.

I have seen this one making rounds in various discussions. I haven't used any yet. http://www.kbkg.com/nationwide/brochures/KBKG-repairs-decision-tree.pdf

In a webinar this morning they said... Common elections without 3115 1. De Minimus Safe Harbor for otherwise capitalized expense. 2. Safe Harbor for qualifiying buildings 3. Capitalize repairs and maintenance Common 3115 changes in Accounting Method 1. Compliance with overall Regs (designated change # 184) 2. Disposal of UoP (#196) 3. Materials and Supplies Election (#186) Changes by Implementation 1. Materials and Supplies (100 vs 200) 2. Rotable and Temporary Parts 3. Forward looking Partial Distributions I don't begin to understand it all...