Jack from Ohio

The wrapper around each ream of paper is airtight.  The last process, at the paper plant, is to dry the paper to a specific percentage (Very low, compared to the air in your office), the wrapper keeps it dry, as long as it is not compromised.

Once the paper is open, if you are not going to use it within 48 hours, keep it in an airtight container.  Tupperware makes some dishes that fit a ream of paper just fine.

This applies to all paper that has been opened.

Call Tech Support.  

1 hour ago, SaraEA said:

But if it weren't for gov't employees, no one would get the day off for President's Day (sometimes both Washington and Lincoln birthdays), Columbus Day, Veterans' Day, and (in DC) Emancipation Day?

Give me a real and solid reason that everyone needs all those holidays off with pay?  At my business, and the firm I work for part time, we work on  those days, and only get paid because we work.  Those "white collar" holidays are just perks that one government agency provided for all the other government employees.

I PLEAD with parents not to name their children the same name as theirs.  I have spent a lot of hours cleaning up messes it causes.

Jr., II, III, and so on, only serve to cause the child multiple sessions and hours of grief in the adult years.

On the other hand, it has be a good revenue opportunity...

FYI, my daughter and son-in-law named their son something totally different from his Dad.  

1 hour ago, Abby Normal said:

The IRS will say that this is compensation and needs to be reported, even if you try to call it a gift.

Agree!!!

Since it cannot be available to rent, all the expenses are his personal expenses, and not deductible at all.

8 hours ago, Evan S. Golar said:

Alimony is gone, as well as moving expenses except if in connection with a military move.

Alimony is only gone for divorces finalized after Dec. 30, 2017.  Any alimony in place before that, remains deductible by the  payee, and taxable to the recipient.

1 hour ago, Max W said:

I think we are being spoofed by Edsel.  

METHINKS Max W is correct.

23 hours ago, Abby Normal said:

I like to password protect files that contain passwords. Then I just need to remember the password.

11 minutes ago, Catherine said:

Absolutely!  I have one such file, on an encrypted drive, password-protected, that I use to keep the historical info for all those sites where you have to keep such records.  Last time I checked,  it was over 27 pages long.  I've had that one file for over twenty years now.  Page and a half a year?

I carry, on  a lanyard around  my neck, a 128GB flash drive, that contains an Excel spreadsheet, with all the accounts I have to log in, user names, and passwords.  Currently over 300.  The Excel file is password protected, as well as the flash drive.  I only HAVE to remember 2 passwords.  

It is impossible for any person to remember all the different usernames and passwords needed, to do a business like ours.

I also have, encrypted backup files for all my tax programs, and other important documents, on the flash drive as well.  If I leave the house, it goes around my neck.  I have a complete backup of all data files on a separate external drive at home as well.

On 8/30/2018 at 7:50 PM, JohnH said:

Everybody's different.  I find most seminars a colossal wast of valuable time, usually because the pace is boring.  I've attended a few that were truly interesting, but they're the exception rather than the rule.  And the valuable time consumed traveling to and from is a total waste.   Online works best for me. 

You cannot network with other professionals, from other locations, if you do online seminars.  Nothing gives me more practical and usable information than one one one dialogue with professionals from other states, counties and cities.

No matter how much you brag up the "benefits" of webinars, none are equal to the one on one networking you can get, (unless you act like a hermit) from attending a live seminar, or forum.  

It is the reason I make the time, and budget the money.  It is a cost of having a professional, & informed business.

I prefer to go to live seminars and workshops, such that CPE credits are a result of my learning and networking.

I am opposed to "Buying" CPE credits.  CPE credits are meant to show that we have been studying, and learning at the hands of qualified teachers.  NOT to show who bought them the cheapest.

Those  that get live schooling, and then associated CPE, are easy to spot in a group.

1 hour ago, jklcpa said:

MeF accepts the current and prior 2 years, so the system is currently accepting 2015 through 2017 returns.

That is exactly correct.

6 minutes ago, Abby Normal said:

https://myatx.blogspot.com/2018/04/windows-10-april-2018-update-releases.html?q=windows+10

Microsoft is releasing a content update to Windows 10. These content updates can potentially make your software not open as designed temporarily

 

No thanks!

Others reported printers and other peripherals not working after Win10 updates. I just need my OS to work and stay out of my way.

I am going to put a WIN10 workstation in our network, so I can learn all of its idiosyncrasies. Which version of WIN10 should I get, in your opinion?

1 minute ago, Abby Normal said:

No thanks!

Others reported printers and other peripherals not working after Win10 updates. I just need my OS to work and stay out of my way.

AGREE!!!!

3 minutes ago, Abby Normal said:

I run VMWare and have a virtual XP machine for old software, if needed. It's not as simple as having an old XP machine around, but it works.

The XP machine I originally had, for many years, had a serious heart attack of the motherboard.

Imagine the struggle for me to find another XP machine with the associated drivers for the motherboard, and legitimate install codes.  I finally got  the system to access the internet, so I could put it on the network.  It was touch and go for a while.....

I have a machine with Windows XP in my network.  I have years 2002 - 2005 on it.  Those years are not compatible with WIN 7.  Believe it or not, we have used it 3 times this tax season.  People are getting notices for not filing for many years, and the IRS asked for the old returns to be filed.

When Win10 is forced upon us, I will also keep a WIN7 machine in the network for just the same reason.  Those years from 2006 and forward that are not WIN10 compatible, will stay on that machine.

This process is easier than trying to get old programs to work with the new OS.

8 hours ago, Yardley CPA said:

Jack...I think people were saying you were crazy, but it had nothing to do with you not wanting to use WIN 10.  

7 hours ago, Catherine said:

Very true to both!  Not that we don't appreciate you, Jack - but you've been open with us, therefore we know more about you than perhaps you wanted us to know.  

And people said I was crazy for not using WIN 10....

No one will believe the process and programs I use for anti-virus.  if you wish to know, send me a PM and I will share.

10 minutes ago, JohnH said:

No matter the reason for the outcome, most unhappy clients are going to blame the preparer.

Agree.

2 hours ago, Medlin Software said:

I think the release is nothing more than a WAG or a political statement.  Personally, I suspect those that actively manage their finances (either personally, or via a professional) can be left out of any such speculation, since they choose what they pay in advance.  Those who simply accept what their W4 gets them, a fair number, maybe even the majority, use "people" to mean allowances, and instead of getting a large refund for their interest free gift to the uncle, will get a smaller refund, or maybe owe a small amount.  Those that annually have a balance due, and have not rectified the issue, will always be in that boat via choice, not via advance tax calculation shenanigans.

The "Interest Free Loan" to Uncle Sam, is not truly relevant any more.  When a 5 year CD of $5K or more only pays 1.5%, how much would be saved, by most people?  Interestingly, for refunds past the normal filing date, the IRS is paying 3%.  If a person files for refunds every 3 years, they would make better short term interest than they could get in the open market.

Most of my clients, can't save a nickel, so IRS is a forced savings plan.

5 hours ago, Abby Normal said:

There's a user on the official forum who only has the 2008 install CD so he can install it but he can't update it because ATX no longer has them posted on their website.

I don't mean you should download the latest update file, although if you install from CD and apply the update that will work. What I mean is to download the full installation file:

For 2016, go here: https://support.atxinc.com/download/taxprogram.aspx?taxyear=2016

When you're on the prior year downloads page (https://support.atxinc.com/download/prioryear.aspx), click on the links that say '20xx Tax Program' to find the install files.

And put a reminder on your calendar each fall to do this for the current year. The current year program is here:

https://support.atxinc.com/download/formdevelopmentstatus.aspx

and you click on the link that says 'ATX Tax Program'. Or you can edit the 2016 URL and change the 6 to a 7.

https://support.atxinc.com/download/taxprogram.aspx?taxyear=2017

You can see the version of the install file, after you've downloaded it, by viewing properties (right click on file, choose Properties) and going to the Details tab.

I actually download the latest full install file every time there's a program update, in case I ever need to reinstall it, to save having to run the updates.

 

The install file, on their website, will contain all the current updates.  I used to keep all the update files, now I just archive the install files about every 6 months.

9 minutes ago, Evan S. Golar said:

Start with 2008 first, as there may be carryover issues that go forward. Realize that refunds owed for past 3 years are forfeited.

And... If he owes tax in any of those prior years, he is liable for paying them.  Oldest first.  I always recommend mailing the oldest first, then wait 2-3 weeks and mail the next one.  Prevents confusion at the IRS.

7 hours ago, Edsel said:

Hi Jack - good to hear from you.

I understand most of the posts, but none of them have pointed me to the logistic answer:  "How do I file?"

1. "The person, in this scenario, will file as a sole proprietor."  That implies Sch C and self-employment tax.
2. The LLC does not exist, thus allow the individual to use 6252, Sch B, and Sch D.  Nowhere to enter the LLC or federal ID#.  Since the LLC was assigned a Federal ID#, will not the IRS be expecting some sort of return?

 

1. The nature of the business determines which forms need to be filed.  The IRS  does not care about the LLC.  Pretend the LLC never existed, and file the tax return appropriately, based on the facts and circumstances of the business.

If you file Schedule C, you can use the LLC EIN.  It makes NO DIFFERENCE to tax liability, or how to file the return.

Take the LLC out of your thinking, create the return, and file appropriately.

Again, this is being way way overthought.

LLC is disregarded by the IRS.  If you have an LLC, the defaults are Sole Proprietor, if a single owner (This fits the situation being discussed), and a partnership, if more than one owner.  These defaults are exactly the same as if NO LLC EXISTED.

This is being WAY OVERTHOUGHT.  IRS does not care, at all, about an LLC.  

The person, in this scenario, will file as a sole proprietor.  He can use the EIN, if he chooses, but is not required to.  The EIN was assigned to the taxpayer, not the LLC.

Way too much overthinking on this one.