Lee B

Part of the reason we have trouble getting thru is a paid subscription service called enQ that floods the IRS phone lines with hundreds of calls then connects you when an IRS employee answers. As tax professionals we qualify for their special price of $ 100 per month.

First I would look to see if the business is really incorporated. Is the corporate name on the title of the truck and trailer or the individual's name. Whose name is on the expiring loan? Who was actually receiving income payments corporation or individual? Was a corporate bank account ever set up? If you go ahead to work on this, I would ask for large retainer, because unless this taxpayer has large amount of money set aside for taxes, it could get really ugly!

Now it makes more sense

You just have to use a common sense approach as far as allocating expenses. One thing I would do is set up each cabin as a separate asset on the depreciation schedule. A basic asset cost segregation study would also be very helpful i.e. furniture & appliances, landscaping, other land improvements. If there are any facilities shared by both the owner and visitors, things would get complicated.

If prior years are indicative, the announcement will be 2 or 3 weeks from today

That implies that it will be next year before we know which clients fell thru the cracks that will need amended returns.

Chrome is up to date Version 95.0.4638.69 (Official Build) (64-bit) There is another unscheduled update to the Chrome Browser due to several more serious active exploits.

Since I do monthly write up/payroll for most of my clients, March 15th isn't a problem for me except for several PTS returns with disorganized record keeping. A bigger problem for me are my Schedule C clients with sloppy record keeping that I have to give deadlines, then remind them of the deadlines several times.

I have been preparing 5 or 6 PTS returns for years. Potentially, 1065 returns are the most complicated of all of the Business Entity Tax Returns. There is no single practice return that will prepare you for all of the variables that might pop up. A 4 to 8 hour CPE class would at least get you headed in the right direction. While it's somewhat expensive PPC's Tax Guide for Partnerships is very thorough and complete.

I am the opposite. While I have a Chromebook at home, I can't imagine not using a desktop for work.

Several reviews list the Dell XPS13 as the top choice

Some of the larger laptops have a numerical keypad. Although I still prefer a mouse to a touchpad.

This sounds like something totally different than PTET

I have never heard of composite payments ? Is this real or hypothetical?

27.5 is correct for residential, this is nonresidential

HVAC is Qualified Real Property which qualifies for Section 179. I don't use Bonus Depreciation due to my state.

So are you working with the spouse? I don't think I would perform any work in this case unless I was retained by the client's attorney.

A touch of gallows humor

If you think of bitcoin as an investment similar to buying shares of a mutual fund, then you are on your way to understanding bitcoin.

jbelle, you have one more year in our profession than I do. I am still pushing forward on a part time basis

Ah, an assistant. A brokerage should this clearly referenced. Ask the assistant for a copy of the brokerage guidelines. Although I remember an Investment Advisor for my bank who had never heard of a QCD.

If ATX follows what they have done in prior years, they will announce after Veterans Day with a shutdown date for Form 1040 sometime in the week before Thanksgiving.

PUB 560 page 6 "Deadline for setting up a SEP. You can set up a SEP for any year as late as the due date (including extensions) of your income tax return for that year."

While Form 8822 B is used for the change in a responsible party, it is not used for a change in ownership. Unfortunately the IRS guidance in this area is not as clear as it should be.

When employees are involved and their is a complete ownership change, I believe a new EIN is required. The reason for this requirement is that EINs cannot be transferred to a new responsible party. In addition, the old owners need to close the old EIN in order to protect themselves.