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Lynn EA USTCP in Louisiana

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Everything posted by Lynn EA USTCP in Louisiana

  1. For Client Write Up I use Howell's software -www.howellsoftware.com ; it's very affordable, (NOT an Intuit product), and very user friendly. Tell Don Martin that I referred you. Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  2. I give them a copy of the extension and the mailing address. Lynn
  3. IMO, how the BP (technically Gulf Oil Spill) $ is shown on the tax return depends on the reason for the claim. If it's for damages to property, then line 21, or schedule D, or decrease in basis (it depends). If it's for lost rental income, schedule E. If it's for lost W2 wages, line 21, not subject to SE income. If it's for lost self-employment income added to the schedule C as other income. I usually ask to see the paperwork filed and any documentation the client may have. I do not agree with the conclusion of the CPA firm which your son referred to. I do have some info distributed by the NO IRS liaison officer; if you'd like a copy just send me an email off-list - [email protected] Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  4. If you have the CFS Tax Tools program there's a worksheet module for repossession of real property. Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  5. Well, you might want to come after me next. During tax season I usually go out of town for Mardi Gras. This year, the week before Mardi Gras I went to Arizona, riding my bicycle from Tucson to Wickenburg and back. It's been 7 days a week, 15 hour days ever since I got back, though. Lynn
  6. I looked at my renewal quote. It included a renewal for my TaxScripts subscription, which doesn't renew until either December or January. I'm not about to pay for that renewal 8 months before it's due. I just paid for this year's renewal not too long ago. I told them to revise the renewal quote; haven't heard back and doubt that I will. What I do like is being assigned to a particular sales rep. That's the way Crosslink/Petz runs their business and it was a much more personal way to handle things. We'll see how this transition works out. Lynn
  7. Tax Sheltered Insurance Deductions Google search engine Lynn
  8. Thanks, Pacun. I'll review that tomorrow when I return to the office. As you pointed out, it may well be a case of 'operator error'. Lynn
  9. I thought this issue was to have been solved with the 3/30 6 pm drain and update. But I'm still getting this reject code. Anyone else having the same issue? Problem arises with 2 sch C for same t/p on the tax return - one schedule C is for EA activity and the other is for notary public activity which is exempt from SE tax. The SE health ins is established under the EA business. Thanks, Lynn
  10. Catherine that's available only if there are more than one employer.
  11. This client lives in NJ. Box 3 social security wages are OVER the soc sec limit of $106,800 by $225.00. The reconciliation for social security wages reflects gross pay $113,089 less 401(k) n/a less medical fsa ($1,000) less other cafe 125 ($2574) wages over limit ($2,490) to yield Reported Soc Sec wages/W2 $107,025 I have an email to the client but wonder if ANYONE ELSE has ever seen something similar and could comment. My turn to be 'brain dead'. Employer erred - employee should ask employer to refund the overwithheld soc sec taxes, all of $13.95. No further responses required. Thanks, Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  12. What 'little' I do know of 1041's is that the -3000 capital loss does NOT go on the k-1, EXCEPT if in the final year. Capital losses stay within the trust until it becomes final. Lynn Lynn Jacobs, EA, FNTPI, NP Enrolled Agent Notary Public Kenner, LA
  13. 9 AM this morning received a phone call from a young lady from TRX asking if I was ready to renew for next year, locking in my $299 price for the $699 package. Deadline to renew is May (31st ? ). Does she NOT know the date? I told her that since the deadline to decide wasn't until May, then that's when I would make my decision. Geez, Lynn
  14. Entity returns haven't been assigned DCN's; or if they are they are not printing on the 8879's. I think it's because they go through the MeF system and not the legacy system which uses DCN's. Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  15. She IS an employee, for all BUT unemployment purposes. Weren't her wages shown an exempt on the 940? Or was a 940 not even filed? In many states, the spouse of a schedule C owner, and apparently in your state the spouse of a partner, is exempt from state unemployment. Lynn Jacobs, EA, FNTPI, NP Kenner, La
  16. Yes, it may still be efiled. Entity returns may be efiled - current year, and prior 2 years. Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, La
  17. New clients just left my office - moved to LA from Ohio in late Sept 2010. W2's reflect W/H from OH, Village of Delta, Bryan, and Toledo. What are the quirks to Ohio returns? Thanks, Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  18. The only strange thing happening with me is when I'm editing the client's federal letter, which has 'this return will be e-filed' in the options box, it will all by itself remove that check-box, and revert to the 'mail' letter instructions. When I go back to the options box to again check 'this return will be e-filed' there's a red message that states something like 'this return was rejected - please fix the errors and try again'. So I again check the e-file box and go back to editing my letter. Very strange. Lynn
  19. Hi Ranger, that part I am well aware of. I just wondered if Tom had found another solution to his dilemma. Thanks, Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA
  20. Advise your client to take the 2010 RMD ASAP. My own mother one year forgot to take her RMD. We filed the return without the 5329 and it was never questioned. But if it had been then we'd have responded, explaining the circumstances, that the RMD was taken as soon as it was discovered to have have been missed, procudures now in place to make sure it doesn't happen again, etc. The proper way would be to file the return with the 5329. Some preparers recommend paying the penalty tax and then asking for it to be refunded, while others (and I'm in this camp) recommend filing the 5329 without paying the penalty and waiting to see what happens. Lynn Lynn Jacobs, EA, NP Kenner, La
  21. Tom, for those of us who don't know the answer to your question, would you tell us what you figured out? Thanks, Lynn Lynn Jacobs, EA, NP Kenner, La
  22. This is what ATX put out just this afternoon (2/8)- "We received the following from the Louisiana Department of Revenue: Subject: LA acknowledgements Sorry for the delay. Due to inclement weather Thursday and Friday of last week our office was closed. We will get the acknowledgements out as soon as possible." And now an updated message on 2/9 - "LA acks-- We had expected Louisiana to begin posting acks last week, but we have not received any LA acks yet. The state has notified us that they experienced hardware issues and expect to get acks posted by Feb 15" Lynn
  23. Cathy, so far not yet. I've e-filed one LA return on 2/2 - federal ACK received right away. Still waiting on the State ACK. Lynn
  24. Jainen, this is NOT a typo. It is a reversal of position. One of my NAEA peers corresponded with the person that re-wrote that section of the rules, and the reversal of position has been confirmed. Lynn Jacobs, EA, FNTPI, NP Kenner, La
  25. 2nd try - think it worked this time. Lynn TAx Minimum_fee_schedule_Sample_template_and_with_samplefees_2011.pdf
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