Margaret CPA in OH

My season sounds just like Deb's - rush, lull, rush with that maddening single item (basis, usually) seemingly unobtainable. And, like Joan, I don't have much of a life. I will be teaching more scuba this year because the dive center seems short on instructors now. And, with more extensions than ever, I will be still crunching numbers After a week in Sedona in May, it will be interesting to catch up with those still hanging out here at our "water cooler." What a great group of supportive folks here! And what a difference you all have made in my professional and personal life. JB, if she agrees, are we all invited to the virtual wedding?

For what it's worth, someone on another thread suggested having the cursor over the STOP so that when/if the dreaded red appears, you can stop immediately. That worked for me. Then I decided to just wait abit. My last 4 went through rather quickly as, I suspect, some folks just went on home. I don't think the crunch will last all evening. Hang in there, deep breath, deep breath...

No, silly, the double deduction would be for me. Once for discussion of tax issues and checking out the new software and one for instruction and certification of students. At least for those who are certifiable and who among us is not today?

Perfect! I was working on a projection for estimated payments and that DOES make a difference. Thanks so much.

Mike, the two pastor clients I have retired in 2007. They have sent me a form from the Board of Pensions that declares, per IRS allowance, that their pension is deemed housing allowance and not subject to income tax (per usual standards, frv, etc.). It doesn't, however, address the SECA issue. Nor does my Church and Clergy Tax Guide. I plan to call BofP but what do you think? The denomination is Methodist. Thanks!

Well, Ohio works for me and I think a lot of others. But maybe somewhere by water would be good. That Hawaii thing sounds really good. Wouldn't that qualify as a business trip? And if anyone wants SCUBA lessons, I can teach you for a double deduction!

In my other life, I am a SCUBA instructor and Emergency First Response Instructor. Although I have mannikins for skill practice, I haven't tried even the AED on a printer yet. Hmmmm, could be a new line to promote!

I got a liter bottle of Tortuga Mango Rum from the Caymans last week. This client, a wonderful ethnic Chinese woman, always brings something-usually cake or cookies. I like the rum!

Thanks for the technology reminder. I still have my original computer with Window 3 or whatever sitting around just in case. Since I have client data on all computers, I decided to keep them all or at least the physical hard drives as long as necessary. I looked quickly on the IRS website for some tax pro guidance but didn't find anything quickly. The 10 and 3 year times somehow sound familiar. I also am keeping everything in pdf format not just the ATX backup files. I would like to think that pdf will be around for awhile!

I, too, am cleaning up but not getting rid of client files altogether, only the paper. What I am doing, is scanning to disk and burning CD's. Each prior year CD, going back to 1996, will be on disk as well as each client. These archive disks will go to my bank safe box. The most recent 3 years will be on a CD for each year. Then every year, I will move the latest one to the bank vault. Of course I will also keep the recent 3 years on my duplicated hard drive with external backup in my fire proof safe. I hope this suffices for retaining client copies! I am so tired of paper.

I must be oblivious. Where do you see birthdays? Happy birthday to everyone that I've missed so far, including me, March 20.

Have you checked the instructions? Ohio just says to attach the court appointed letter or 1310.

I checked my Church and Clergy Tax Guide 2007 by Richard Hammar. It states that retired ministers are elegible for this if certain conditions are met. "However, the surviving spouse of a deceased minister is not eligible for the exclusion unless he or she also is a minister who otherwise qualifies. IRS Publication 517 states: "If you are a retired minister, you exclude from your gross income....However, a minister's surviving spouse cannot exclude the rental value unless the rental value is for ministerial services he or she performs or performed." So maybe check the Pub. 517.

I tried to revive the earlier discussion unsuccessfully. Here is my query: So I have a home office disposal now, too. It isn't in the asset entry (not supposed to be according to the KB). Unfortunately the client had losses in the last 3 years so all depreciation and other expenses were not allowed. Any clues on how to determine depreciation to date when the numbers are lumped together? Would it be a ratio maybe?

He actually has invested most of the money and is using much to try to locate a new home. It was designed, I believe, to allow him to have down payment money and moving cash as well as paying for taxis, etc. to find a home. So he does have unfettered access but the deal, while not yet legally and technically complete, is not realistically going to fall through. The university has scheduled demolition this summer. They gave him an extra 30 days to vacate but no more delays are possible. I am still inclined to not recognize it until 2008. Thanks for your input.

So I have a home office disposal now, too. It isn't in the asset entry (not supposed to be according to the KB). Unfortunately the client had losses in the last 3 years so all depreciation and other expenses were not allowed. Any clues on how to determine depreciation to date when the numbers are lumped together? Would it be a ration maybe?

Some here may recall my client who was 'forced' to sell his house for a university expansion. He came to an agreement and must be out of the house by May 31. Meanwhile, the university gave him a check for $35,000 noted as earnest deposit toward purchase. While I haven't seen the actual contract (client is legally blind and can't find it at the moment), I think there is nothing to be done with this deposit for 2007. Any other thoughts?

Many of us hear you and feel quite the same. Not that it is really any comfort, I know. I acquired a new client that I think I just might fire before I even do anything. He brought a CRUT, having moved from another state, and it has been prepared incorrectly and distributions reported on their personal return incorrectly for, oh, about 12 years. He didn't want to hear that, of course, because, "George is so meticulous, he always does everything so carefully." If I hear that one more time... I have spoken with George who acknowledged to me that he really didn't know that much about CRUTs and did the best he could. I could go on, but you understand. Is it time to retire?

Catherine, that sounds like a wonderful document to share. Absent the mini, I would be very interested in looking it over. I think Eric asked just a few days ago about sharing some forms and spreadsheets through this group. Maybe this could be one.

Scroll to very top of the form. In the tan area are blue boxes to input PY tax and AGI.

I did not use the "improved" ATX organizer for the very reason you cite: too many pages. They used to have a mini-organizer which, in my opinion was fantastic. When they, in their infinite wisdom, decided to eliminate it, I bought another generic one. Virtually every client has remarked, whether or not they actually used the mini, that they missed it. I really, REALLY wish they would bring it back.

I just answered you on the other board. At the top of the Asset Entry click on the drop down box to select where the assets are related. At the top of the 4562, click on the drop down box to view the related form. The appropriate number of forms will print if required.

Fantastic! It made my day but it IS scary...

Good one!

Your observation that CCH cannot moderate this board is perhaps the biggest reason why at least most of the current users would be quite happy to continue here whether or not they also use the official board. Clearly, many of us also participate in other listservs and bring that information to share here when appropriate. I will certainly continue to use and support (two contributions so far, do you need more yet? but not lunch money!) this board no matter which software I end up using. As others have noted, the helpfulness found here along with the experience and professionalism is quite valuable, especially to those of us who toil in isolation in our home or single person offices. This is our water cooler where we bounce things off of colleagues. Thanks again, Eric, for saving the behinds and other parts of us! I really don't think this board will be abandoned any time soon, so long as you are willing and able to keep it going.