Margaret CPA in OH

There is another form in ATX, Home Office Exp. The second tab, Expense Input, has the fields to input actual expenses. If you click on any of the indirect fields on 8829, the Home Office Exp worksheet is an option if you don't already have it open.

A client has been unable to find an EIN for a seasonal business known in this area. Client just asked me if I could find it for pay! Do any of you have a favorite site? I can register for a free trial on a couple but thought a reference would be good.

Help! I'm falling out of these trees and I can't get up!

Doh! Good point Jack. So contributions may be possible but not deductible as charitable in any event.

I think travel expenses, mileage, lot fees, etc. would also be deductible if the primary purpose was this charitable effort. See Pub. 526. While lodging expenses, under certain circumstances, are deductible, taking part deduction for the RV may fall under the prohibition to taking a deduction a partial interst in a property. I wouldn't take it unless it was used solely and exclusively for charitable purposes which I doubt. I agree with Gail and Ron.

Randall, come join us http://www.queencityrunningclub.com/I'm listed on the About page under coaches. You need a break, right? Tonight we have Happy Hour in Covington after our splits workout.

Way to go, Bob! Columbus is a great course with great crowds. I ran as a coach a few years ago and might be there again this year. I will be running the Queen Bee Half the week before and the full Flying Pig next May. That would be my 8th and last (famous last words) full but hope to keep doing half courses. Are you training with a group or on your own? If on your own, do you have a schedule? Let me know if you would like one as I have several years from training groups. What is your goal? I have found that those runs during tax season are great stress relievers. As I work from home, I often would run during mid-day just to get out. Be careful on slippery routes. I fell 2 weeks ago on a 5 miler and ended up with a black eye from the black ice. Good luck even though luck has little to do with success. All the miles you put in will determine the outcome.

Fifth Third Bank is pretty big around here https://www.53.com/about/regions-we-serve/ I agree with the others - never use deposit ticket, only check with routing number.

Well, a bit more violent than my usual response but I do like it when a client 'offers' to pay additional money (and when did that ever happen?).

So glad for the happy ending!

The trust was mother's and created 9.6.2000 on her death, the first return was calendar year 2000. It seems it was open until elderly father died. Attorney who completed that return (I see now) passed through all losses to my client when they should have been split 3 ways, hence the amended return. I cannot amend his 2010 return but his self-prepared return took $3000 in losses so maybe it isn't so bad. I think maybe I can just correct the loss carryovers for the record. It will still take many years. And I think IRS wouldn't mind having less offset to taxable income. Thanks, Lynn.

Is client out of luck? He was beneficiary of mother's trust created at death. It had huge losses short and long term when holdings were liquidated. Preparer of that trust return neglected to mark 2010 as final. So it was carried on and on. Client self-prepared returns taking $3000 loss each year with no contact from IRS. I looked at this last year and advised that he go back to original preparer (I kind of suspect it might be himself) and amend 2010 as it was then within SOL for amendment. Last week he brings in K-1 with huge losses showing as final year deductions. But his 2010 return is past the 3 years SOL. Any hope at all for him? I'm leaning towards letting those dogs sleep on. But if 2010 was wrong, how to correct 2011, 2012 and 2013 still in statute? It grates when people smart in other ways try to save money in things they don't know.

Hunker down, my friend. I was there during the blizzard of '78 when the city closed down for days. I lived in the Back Bay. It was never so quiet before or after. But we didn't have gale force winds just small mountains of snow with drifts way taller than me. Do take care. My best friend lives in Quincy and I spoke with her last evening. So glad her son is marrying in September (possible visit alert!) and not now!

I did a search and found this http://www.uaoh.net/department/index.php?structureid=20 About half way down the right side is a Declaration of Exemption form although for 2013. Item 2 is for member of armed forces. An issue with many of these municipalities is that they don't want and can't afford to miss any possible tax income so are pretty rigorous with filing. I think that might do it while still filing an Ohio return as a legal Ohio resident. When some clients of mine moved to Australia, they ceased having a muni or school district filing requirement but, due to deferred income, still had to file a state return.

Well, partners don't receive salaries. See the operating agreement as to guaranteed payments, likely they don't have them. More likely these are just distributions from the capital accounts.

Thanks for a good start. I think, because all income is exempt (totally used for common upkeep) and all related expenses are exempt (totally used for common upkeep), they just never capitalized anything that was commonly owned as each owner owned a share. It's possible that those individual shares, being personally owned by individuals, were not considered depreciable as not for commercial purposes. More research needed! On to Pub. 588 and copies of association documents. And maybe pass on this one!

Anyone?

Ohio also has an annual Unclaimed Funds report that must be filed. There are rather precise steps to be taken when a paycheck is involved but, yes, if the funds were not deducted from the checking account but claimed on a return as an expense, the money must be turned over to the state. I've had to do that with clients who were not especially happy but had, of course, taken the deduction. Cake and eat it, too, syndrome, I think.

Client is condo assn. that files 1120-H. I inherited them, there isn't a balance sheet and the income is all exempt from condo owners and the expenditures are all for exempt purposes per the 90% test. So a capitalization policy when they don't have any depreciation? A supplies and repairs policy? Should I just whimper (thanks, Rita, for the perfect reaction)and send them on their merry way? It's always been so simple before.

So Illmas, that surely saves you a lot of time! Hopefully it isn't the one used by the clients too - how awkward!!!

Bob, I coach with a new group, Queen City Running Club (have also coached with Roncker's Running Spot and TriState Running). We will have a tent so if you need to drop off belongings or just hang with some runners, find a like-paced companion, meet me look us up. When I know the exact location, I can let you know, if interested. I will be with a run/walk group and may or may not be doing the whole thing from start to end as we usually go back and forth helping participants. Jeff, good for you, too! Guess I will have to find a way to work that one in and get in some quality diving afterwards, too!

Good job, JB! Care to share any details? I coach a half marathon group, currently run/walk. I ran the inaugural Queen Bee Half in Cincinnati last October, third in my age group. I ran the first 2 miles as a coach for one woman who then told me to go on. Without that, I would have won my group so no coaching for the next one. I want to win it! I will be doing the Flying Pig in May as a coach. The training during tax season helps my sanity, how about you? I'm lucky with a home office so can take off during the day, if need be. Keep up the good work!

Oh Naveen, Words are really inadequate at such a time. How moved are we all that you would share such painful news knowing that we are a family of sorts and hold each other in our hearts, now especially you. Listen to your heart and the wisdom around you and be guided by the most loving act you can make whatever that may be. I, too, hold you in prayer for guidance and comfort.

I don't know if there are additional updates recently. I printed out my organizers in early December and mailed them last week. The 'simple' organizer (don't know why they don't have distinctive names) is vs 5 on my program and the multipage (8+ mailing slip and Custom) organizer is vs. 7. If others have later versions, you and I are in the same boat with outdated organizers. I will live with it, though, as I use them primarily to prompt folks to recall what they need to provide and what last years' figures were without having to dig out the returns.

I've been using CMI Fixed Assets (cmifixedassets.com) for many years. You can even use it for free for fewer than 50 assets. I do pay an annual maintenance fee of $145 so I can call with any questions but the software can be had for free with updates. Here are the features: Features Data Conversion from other fixed asset software, including excel. Supports the Job Creation and Worker Assistance Act of 2002. Supports recent changes to IRS like kind exchange rules. Luxury auto limits and separate truck and van limits. 250,000 assets per company on single user versions and up. Maximum asset value for an individual asset is 9,999,999,999. Renumber Account Groups option. Up to 10 User-Definable fields. New Truck and Van "Luxury Auto" Limits Implemented. Increased Expensing for Small Business. Renumber Account Groups option. Asset selection in depreciation reports and in the Find Asset command allow wild card characters * and ? on screen for the Description and User- Definable fields. Custom depreciation methods allow a decimal point in the percent of basis to be taken as depreciation. IRC 179 expense reduced to $25,000 for some SUV’s A company can contain up to 25 schedules. Location and Category number fields have 10 characters. Supports Journal entries for Cougar Mountain Accounting and Cougar Mountain Fund Account numbers defined in account groups (and created in journal entries) can be up to 100 characters long. Note that account group numbers are still limited to 24 characters. Custom depreciation methods A new export feature has been created that allows you to choose the asset data fields to export and to select the assets to export. A tab-delimited text file is created, which is very easy to open in spreadsheets, such as Microsoft Excel. Column headings can optionally be included at the beginning of the file. Can Override the depreciation calculation of an asset for the current year. Depreciation schedules (by month, quarter or year) Book ACE Federal tax State tax AMT Other Tax forms and worksheets: Form 3468 Form 4255 Form 4562 Form 4797 Tax preference Personal property tax Additional reports: Projections Historical depreciation Asset additions Sales Abandonments Trades Transfers Asset dispositions including gain/loss (full and partial) Asset detail report (complete asset information including depreciation for each schedule [book, tax, etc.] for entire life of asset) Version 4.1 new features Brand New user interface with customizable controls. Check out screen shots for more details. Asset numbers can now be up to 10 characters long and can contain both digits and letters. Sub-assets can be three digits. The asset number format is set on the Edit Company screen and cannot be changed once it is set. If you need to access your data using prior versions of THE SYSTEM, you must select 6-digit asset numbers (no alphabetic letters) with 2-digit sub-assets. Paused Depreciation Feature. This feature allows you to pause the depreciation of an asset that has been taken out of service. User Permissions. You can now setup users with that can either have full, read/write, read only or no permissions. Report Builder is now installed on all versions of CMI Fixed Assets except for the Lite version. I no longer have business clients but some with Sch. C. At one time I had 21 clients on this and have always been pleased.