Terry D EA

the only time I charge an hourly amount is if I have to do bookkeeping. Other than that, everything is per form taking into consideration knowledge. For amended returns I charge the same as creating an original as almost the same amount of time is involved.

Margaret as usual I am dealing with my one and only CRUT return. The balance sheet of the 5227 really puzzles me. The CRUT that I am dealing with only has assets that are investments and there are no liabilities, and does not engage in any outside business activities. The balance sheet will never balance and I am wondering how you complete this. Plug figures? I don't like using plug figures and in this case they would be totally bogus. In the past I have left the balance sheet as it is unbalanced and have never had a problem or question. I don't want to ever leave any stone untured with this type of return as we both know the penalties are some of the highest the IRS will impose.

Just ot add, Lion is correct and SC will give credit for taxes paid to another state.

I want a bonus refund for not paying my taxes. Or, my job performance sucks so when do I get my award bonus? Preferably before you discipline me so the discipline has no effect. How ridiculous and screwed up our Government really is. The real question will the IRS go after these folks who now have been identified for all the penalties and interest that someone outside the IRS would be charged.

I wouldn't take any chances either. Keep the old machine around if you can.

Just transmitted my last individual and business returns. Ran to the PO earlier to drop off NC extensions and am now closing shop. Missed my projection by one hour. My wife is a sweet lady who puts up with so much it is unbelieveable. She just came in with KFC pot pies. Here's hoping everyone had a prosperious tax season and is now heading off for some much needed rest. Thanks to all on this board once again. The very fact that it is here and the friends we have made along with the ability to help others and receive help is immeasurable. As Red Skelton always said "Good night and may God Bless"

Well I agree with you and I have decided to renew for next year. All of our concerns need to be given to them at the end of season with the hope they incorporate the much needed changes. I did alert Dan this morning to the missing 8868 form and the fact that last year the program calculated capital gains tax on a CRUT that does not pay tax. He said the engineers want to know about these things. So, maybe if we compile a list of items together they will be more apt to make the changes. I did ask about beta testing and I don't think this is something they are ready to do yet. Let me know if you want to put a list of concerns together. For me, the cost factor is what drives my purchase choice. This year I have had just over 100 returns but am not done yet. I will renew with the 50% down payment and then see if they make the changes before I send the final payment.

I too am thinking about the same thing. I have filed more extensions this year than ever. Number of clients increased but like the rest I had my slow periods but not for long. Still have three coming tomorrow afternoon and I really hope that is it. The three that are coming are easy returns, well atleast they were last year and we all know how that goes. With all the impending changes with the AHC for next year and among other things, I think we will be busier yet. All the confusion will lead folks to go to a competent pro despite all the negative ads.

I ditto everything said above. I would personally feel totallty lost without this board. A lot of us have been here since the CCH inhalation of the old ATX and it sure is nice to know that God willing we will all be here through the summer and next season. Don't know about the rest of you but I completed and filed a bunch of extensions tonight and transmitted a batch of returns. All accepted and all is well. Tomorrow at least three procrastinators are coming. Tomorrow at midnight will be heaven!!

I ran across this earlier this year and wondered the same thing, After telling the client he needed an appraisal he decided to reduce the amounts to just under 5000.00. Was he inflating it to begin with? Hmmmm.

I just realized that OneDesk does not support the 8868 extension form for Exempt Organizations. I have a CRUT to do which is a major return and I need a software package that supports and properly calculates this return. OneDesk does have the 5227 form but last year it calculated capital gains tax on Sch D which goes to the trustee's return and not the CRUT. A CRUT doesn't pay tax. This will be a determining factor for me for renewal.

Whe, catching up and looking for a hotel for a week in Pawley's Island SC. CAN"T WAIT

The interest is paid by her and most likely will be listed as paid under her SS#. Therefore, I say she can still take the deduction just as you say simply as a second home. I mean really what is the difference?

Tried the online SS4 application and got refused so I called and I was told that because I already have and EIN connected to my SS# that I could not get another one. Not sure if the same thing would happen if I was applying as an LLC or S-Corp.

Has anyone attached a document to a return using OneDesk? I have looked at this several times and apparently it is escaping me. Called Dan but they are gone for the day. any help would be appreciated.

Check Thompson Reuters as they bought out Taxworks and may be able to help you. Also do a google search on RedGear tax softeware and you will get alot of results.

Use the OneDesk folks do the survery and I too am waiting for it to come out. Within the last few days a notice has popped up regaring renewal discounts. I haven't had time to click on the link and check it out. I do plan on renewing as I have had absolutely no problems and this has been a smooth season using OneDesk. There are areas that need some attention and I plan on submitting them after season is over for next year. How did the rest of you do?

Me too!! I blame it on cheap staples. the wrestling to get the remians out is a real pain. I keep a pair of needle nose pliers in my desk drawer for digging them out. Fortunately, I use a folder that hides the damage.

Happy Birthday KC and SCL. I too remember when CCH gave us the boot. Thanks to Eric for keeping us all together.

Check Pub 523. I think this sale will fall under the 121 exclusion. If the buyer under contract fails to follow thru or if this was an option to buy and the option is not exercised, then your client would claim amounts received as taxable income plus the interest received. Unitl such time only interest should be reported and yes your client is allowed to continue to deduct the mortgage interest paid on Sch A.

Be aware that when you contact the IRS they will tell you that he can only have one EIN issued that his name and social security number is connected to. I personally ran into this last week when I tried to get an EIN for a different business venture of my own that is a consulting business involving evaluation of automotive educational programs. I always have to give my SS# to numerous schools and don't like doing so. The IRS said to use the same EIN that I have for my accounting and tax practice. I thought that a bit wierd but will follow suit.

Have two to do that are a real pain, four pickups, and four individuals that are relatively easy and have already put seven on extension.

Yes, and even though it is unlikely, the IRS can still penalize for failure to timely file.

Jack, I am not blessed with such sophistocated equipment. However, my little HP printer can do two sided by turning the paper over and backwards. This is just like trying to cut crown molding for me. Upside down and backwards only means that I will be printing it twice. Invariable I put the darn thing in the wrong way.

I have always been for regualting tax preparers and requiring minimum education requirements. This article cites the small amount of preparers that are CPA's and lawyers. I think we all know that it goes without saying that designations behind your name does not make you the expert. No designation placed behind one's name will eliminate errors or fraud or suggest that because that designation exists the risk of fraud and mistakes are reduced. I think it would have been more important to look at the statistics of errors coming from the large tax mills. Sure because there are more of them the percentages would naturally be higher. Catherine I agree GARBAGE!