Terry D EA

Agree with Don totally and I have done more than a few of these already.

Terry D.

Thanks, and I am sure I will need it. I plan on a refresher course before I sit. Before I spend 1k on the exam I want to be sure I will be in the 16% who pass it.

Terry D.

It is possible they received the SS# in late December which may not show up on the IRS master file yet. I would ask to see the SS card and verify the name and number if you are registered with the SS administration to do so. If it is valid, the only course of action left is to amend the return which I would not do until the client has received their refunds.

Terry D.

Thanks for your help. I am not dealing with any clients who have a patent issue. This is a question for an exam from and Intermediate II accounting class. One more class and I will have the required hours for the NC CPA exam. I have a 3.8 GPA and tend to spend too much time on questions that I can't find a clear answer on. It only made sense to me that if you own the patent period, and you defend it, then capitalize the costs. Had to be sure.

Thanks,

Terry D.

I agree, they are MFJ regardless of which country they were married in which will return the best refund. If she does not have an ITIN. Then apply for it with the tax return. I am not sure, but I think you can now e-file the return with the W-7 attached. Someone will correct me if I am wrong.

Terry D.

Good question and I am sure it will be interesting to see the responses. I have been using the website. But if it is down, what other choice do you have but to trust either the letter or the phone call? I guess I would trust the phone message.

Terry D.

Thanks for the response. I am aware of how to handle the purchase and the developmental costs involved with patents. The question is the legal fees for a future defense. Are they capitalized for both internal and external patents.

Thanks,

Terry D.

Had the same problem last year and ATX could not tell me why either. So far, this year has been good and I have not received any rejections yet.

Terry D.

I got the same marketing kit a while ago and didn't know why either. I did get the 1040 express answers which is a part of the MAX purchase.

Terry D.

If a patent is developed internally or purchased externally from another inventor and is later successfully defended in a law suit, are the expenses for both types of patents capitalized? I know the initial legal and filing fees for both are capitalized and it makes sense to me that the costs of a successful legal defense would be capitalized but I have found conflicting answers. What say ye?

Terry D.

How do you have the program combine the Federal and State cover pages. I have seen some discussion on this but couldn 't find it. I would rather have the client letters combined as well. For some reason, I can't seem to see how to do this. Any help is appreciated.

Thanks,

Terry D.

I have to agree with RoyDaleOne, the amount reported on the 109i9div is the selling price. You need to find out what your client's cost is to determine if there is a gain or loss.

Terry D.

KC, you will be proud of me. I took your advice and have now raised my fees by a nickel. Tired of messing around with change. No more 9.95 or any .95 crap. We're in the money now!

Terry D.

Maribeth, thanks for the information on the 941-X. After scanning over this form, it certainly makes more sense than the 941-c made. My only concern is will the IRS understand how to use it? I have one that we correct in 2006 for an overpayment that is in the hands of the TP Advocate. I have filed the 941-C exactly as requested and the IRS continually applied to overpayment to the wrong quarter and in it's infinite wisdom, decided they didn't know what to do with it. So I hope the 941-X will be better.

Terry D.

Tell him to file the 1099's as soon as possible. Unless any of this sub's contacts the IRS, I think he will avoid the penalty. He has enough time to get the 1096 to the IRS. Avoiding it will only cause bigger problems. Remember, if he paid a sub less than 600.00 he doesn't have to issue a 1099.

Terry D.

After rolling over a return from 2007, I have tried to access the 07 return through the 07 program and get an error that states during the rollover the files were deleted. This doesn't happen on every return but has happened on some. I exported all my 07 returns and imported them into the 07 program installed on a different computer. So, I have not lost any information but this still bothers me. Has anyone else had this happen?

Terry D.

Me too! Congrats Jainen!

Terry D.

Agree with Bulldog Tom and Jainen. Take the credits.

Terry D.

I think I have to agree with Genein Alabama. He didn't actually report to a job which in my opinion makes the expenses non-deductible. I also agree he needs to see a lawyer especially if he was blind sided with this.

Terry D.

Iagree. I too do many returns for family and some friends for free. Still sign the return as paid preparer simply cause I am too lazy to remove it. (Not really just think it doesn't matter). I have been doing this for years and the IRS has not adjusted my tax return yet. Maybe we should keep it quiet and not give them any ideas!

Terry D.

Stick wkith KC JB as she is right again. Put it on as many as you want. I have the program on one machine and an external harddrive which I use at my remote office location. Nice to take it all with me and have it all in one place.

Terry D.

Ah yes, remember them all. We call these the goodole days.

Terry D.

WOW! Atx is being sold again?? I wonder to who this time? Geez, enough is enough alreadya.

Terry D.

IRS Quick Alerts: "In addition we discovered that "Where's My Refund" was giving out incorrect

information and the anticipated refund date was accelerated by one week. The

system indicated the refund had been issued when in fact it was not.

"Where's My Refund" has been corrected. We apologize for the confusion

caused by this error but ask that you continue to refer your clients to this

site when they are seeking refund information. Taxpayers are calling the

IRS.gov website helpdesk. We then have to transfer them to our customer

service representatives."

I hope no one wrote any post dated checks in anticipation of the money being deposited.

Terry D.

Here's the sad thing, how many people today, except us old timers, have any clue what the content of the original constitution read, or our forefathers concerns about taxing income? Ask some young people and see. I think you'll be surprised. No wonder they used that commercial. I have seen it as well and have had the same feelings as Kyle.

Terry D.