Janitor Bob
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Posts
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Posts posted by Janitor Bob
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Last extension sent yesterday....last e-file transmitted a few hours ago,,,just waiting on ACK wich will probably arrive tomorrow. So I consider myself officially done.
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My ear is itchy inside
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I had ants in my oatmeal once. I did not eat it.
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Just finished my last one! Yipee. Lenny The Pirate stopped by today and gave me a copy of his new book "squeeky thinks are funny".
Later this month, I will do the 1040 for client that is vacationing in Florida (extension filed)...but for now...No more to do!
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I always e-file these....you get ACK almost immediately. I also only eat pancakes if they are completely covered in maple syrup
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Bar owner recieved a grant of $6,000 from State of WI, Dept of Commerce...
Is it sch C - SE taxed or line 21. I will find out more but I imagine it was some sort of grant for selling his business - which did not go thru or remodeling???
Thx d
Maybe not income but an offset to an expense (remodeling) that was claimed on Sch C?
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Two more return's to go and I'm done for the filing season!
Hey JB are the fish biting around here anywhere's? Anyone else in Ohio have a good place
to catch some fish!
Anyone interested in my top 10 reason's not to be a Tax Accountant & Single Dad at the same time, I'll be posting those
on Wed.
Good Night to all!
Only one more to go here...it is half done and waiting on more info from client.....As soon as he calls, I will finish up and (aside from the client vacationing in Florida with extension filed) I am done.....Now I can get back to less stressful things like teaching my 16-year old daughter to drive!
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Just had a slacker drop off their stuff and tell me:
a) I don't know why we just didn't do this ourselves; it is so easy.
We don't want to pay any more taxes than we have to.OK - does this guy think that I went "Ohhhhh, I see. Their stuff will now go in the stack for people whose returns need to come out with refunds. Also, note to self: Don't charge them; after all, they could have done it themselves.
Arghhhhh!!!!!
Former client had someone else prepare their taxes last year (for 2005) because I would not give them the credits and refund they wanted...She received a letter this past summer from IRS...correcting her return for a credit she took but was not entitled to. She attempted to do it herself this year and just called me for help! I told her I could not really help her over the phone, but I would prepare her return at normal rate if she came in tomorrow...double if she waited until Tuesday. She told me that she really did not want to pay me because she felt she could do them herself.....I just told her good luck and hung up the phone.
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Chaz (the guy on the corner by Woody's Market that drinks warm Corona) will not allow me to hang out on his corner for very long....He sais that "My presence will lower the property value"
So I walk around the court square and watch Crazy Mary wade in the fountains
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What is it that when you take away the whole, you still have some left over?
18
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So I could not sleep so I gets this little blue pill that doctor said to try.....No problem for a few minutes, but now all my keys are moving and I cannot catch the to type very well....all my pictures are spinning and my caculator is dancing....it does not nrmally do that....I go yo bed now
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Thanks, JB for letting me know about this new forum.
Have you told Single Dad yet?
Booger (Mike)
I did send Single Dad the same e-mail I sent you...So when he ever gets time to read his e-mail, he should find us here.
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You can invite William, but I'm not sure that he'll be able to participate. You never know unless you ask, though!
I did send an e-mail to William and Kerry...You never know...They might pop in some time...although probably not on ATX time.
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Water heaters used to just heat water for residential hot water useage use go on line 5a. But, the instructions for line 5a include;
"A natural gas, propane, or oil water heater that has an energy factor of at least 0.80."
The key is the requirement for at least a .80 energy factor. This generally requires an "on demand tankless water heater" to get to a .80 or above energy factor. The energy factor of the water heater is on the energy star sticker on the water heater, or it is available on the manufacturers web site. All of the tank type high efficiency water heaters my clients have purchased have fallen short of the .80 energy factor. There may be a tank type water heater that has a .80 or higher energy factor out there, but it would be a rare bird.
A hot water heater used as part of a hot water heating system could conceiveably go on line 5b. The problem would be the requirement for an "annual fuel utilization efficiency rate of at least 95." Water heaters are not marked with "annual fuel utilization efficiency ratings", they are marked with an "energy factor". Even if you assumed these energy ratings were the same, good luck trying to find a hot water heater with at least a 95 rating.
Thanks mgmea and D Eckerman...I am smarter for having read your posts!
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Received rejection from e-file, neither ATX or state of NJ can help. Error message "The record terminus is missing or incorrect". Any help would be appreciated. Thanks.
I would try duplicating the return (giving it a new name, of course)....Delete the original return, then try to create and transmit the e-file with the new return.
.....Never heard of this error before!
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When I started running the ATX form updates this AM, there were about 50+ forms to update. Fearing something awry, I did not update.
Anyone run the updates and seen the same thing? Does it appear OK?
Also, THANK YOU ERC.... THIS IS HOPEFULLY GOING TO GET LOTS OF TRAFFIC !!!
I updated OK with no problem...but yes. there was a lot to update....more than I would have expected for this time in April. It did fix a problem I had when trying to print. Prior to this update, when I wanted to print only a custom form, I would check the custom box and uncheck the filing, preparer, and client copies...but then they would all automatically re-check themselves....not a problem anymore
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ASK THE SELLER - a hot water heater for heating water is different than a heating system using a hot water boiler, hot water is circulated thru pipes or registers or infloor tubing... I have a brother in refrig/heating .
And with outdoor wood system - they are expensive but they do not qualify as they are less than 92% efficiency
.....I see your point....I was basing my opinion on this being a hot water-based heating system.....not just a stand-alone hot water heater.....I can see where this hot water heater might not qualify for the homeowner.
If person's home was heated with a high-efficience hot -water heating system, I feel that would go on 5695 Line 5b
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MANUFACTURERS receive a credit - but notindividuals on hot water heaters or energy efficient appliances - I have fielded a few requests myself...
I do not agree....If Homowner buys hot water heater it goes on 5695 Line 5b
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Client received a 1099Misc. I was taught that you always had to pay estimates throughout the year, but she says she was told she didn't have to.
So, she didn't pay anything in 2006, she's under the assumption that she's going to owe $2,000 or $3,000, it was just a quick e-mail conversation, we'll actually be talking tomorrow, I told her, without seeing everything I really can't say, but just off the top of my head she's going to owe much more than that. She shouldn't have much to deduct, I know what her job was and she didn't have to pay for much out of her pocket, I bet she's going to give me gas receipts for commuting!
So, today she e-mailed me to let me know she's filing an extension and she would really like me to prepare her return after next week sometime.
I did tell her, if she owes, she's going to have to pay it with the ext. she said she will have to make payments because she doesn't have that much money.
So, my questions for you guys:
she will have to pay a penalty for not paying estimates, won't she?
Should she just send in whatever she can afford with the extension, and just keep paying monthly, and file the return when we can, and still just keep paying monthly? I have a few others who owe this year and they are just paying monthly as they can, but they all owe $1,200 or less, if she ends up owing $5,000, that may take her a couple of years to pay, can she still just send in monthly payments or at that point should she fill out a 9465?
This is a friend of mine, and I'd like to help her out however I can.
Thanks
She is not "required" to pay estimates....However if she did not, she may owe more than $1,000.00...In which case she may have to pay penalties. If she cannot pay full amount, yes, I would have file a request for payment plan. She should pay what she can with extension...include a letter explaining why full amount not paid
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I have a client who bought an energy efficient water heater in 2006. I can find only one small reference in the instructions to whether it qualifies for the credit. *Certain electric heat pump water heaters; electric heats pumps; geothermal heat pumps; central air conditioners; and natural gas, proprane, or oil water heaters.* The form itself (Line 5 makes no reference to it? Has anyone had a case like this and how did you treat it? Thanks. Neil
It would be a hot water boiler....so 5695, Line 5b...limit of $150.00
std amount teleph excise tax with interest refunded
in General Chat
Posted
...Funny...very funny