WITAXLADY

sounds good in theory - how many 1oo's of years would it take to get into use?

BY George I think I (may have) got it... you mentioned stock value of $100 or $1 per stock - will this have bearing? If the assets are basis of $1000 or $10,000 - does that make a difference or is this now capital contributed? I really did take 2 classes on S corps... D

the stock price was referred to in the post about switching the Sch C to an S corp - how does that tie in please? Thx D

I just sent mine in as well

I get the doing it wrong part Sold it for -0- and no gain... started in S Corp at ending basis of Sch C But year of sale - depreciation is 1/2 so compensated for that with Sch C loss and less value of capital vs personal as -0- and same value of assets Same $$$ amount Wouldn't it be more correct to be treating it as a sale and taking 1/2 depreciation? Thx

I think I like my way better - makes sense - deals with the closing of the business deals with the sale of the assets been doing for 10 years clean and neat gives basis for new S Corp no double numbers - ie basis simple transaction Besides how do you get the assets out of the Sch C? if you do not have a sale in 2013? Thx D

the ? comes into play as to how to treat the assets of the Sch C and getting them into the S Corp - Wouldn't they have to be sold and purchased? Hopefully for the amount of $$'s left on depreciation for a $0 transaction? What happens tho' by doing it thru the Sch C - you get 1/2 depreciation as loss on the Sch C and the value of the assets are then less for the S corp - sort of all comes out in the wash... He says use a 351 election. How would you actually show a tax-free transaction? What forms, etc on the 1040? Thx D

very nice

it is so hard to work on a tax return as I still get the retry server error - mostly upon opening a return , creating an e-file and saving and/or closing a return! Will this ever get fixed? If I renew ATX again, I think my hubby will shut me down d

I have always "sold" the assets when changing entities... WI LLC single member filing as a Sch C now doing payroll and filing as a S corp so the assets need to be moved. Is this correct? Can it be done this way? Is there a better way? Had a CPA question me on it as the S Corp started Jan 1 and therefore no Sch C depreciation but the Sch C did not dissolve in the prior year - not until the S corp started in the new year was there a change or sale.... I need to be able to answer the CPA please. Comments, advice? Thank you, D

oh thank you... duh!

and I cannot get past the e-file error saying no SE income Financial Advisor said S corp counts and the $$ amount was established with her wages Was he wrong? Any options? S corp also did 3% matching as employee... She needs deduction. Thank you

so we are starting to create extensions and as I go thru the list - some of these I am just getting done... but how do I get them uncreated? They have not been e-filed and I have deleted the 4868 but they are still there in the e-file mgr??? Thx

went to asset global settings and deselected bonus then it always quickly calculates - 5 minutes later it still is and of course it is locked up...

OK, thx all - I told him that I thought he had lodging... but does it change with location - the per diem and yes sometimes you really have to pry that per diem out of them!

and truckers are $59/day normally -but there is still a chart that shows higher rates on gsa but not the high rates they have?? thx all

oops - it is gsa.gov

WELL not sure as I know they get the 80% and we follow the CSA.gov set up... I guess I will not print this and ask them at 8:30 am when they come in... still 12 returns to do today for pick-up and 1 1065 and finish a S corp - someone way over scheduled thinks I am super person and that's is so not so!

thx what is OEM?

trucker gives me a list of every night he stayed and the $$ amount he wants to take.. Oak Grove, MO - $108 - majority of them are $83 - what did I miss> I thought per diem was $46/day...and thru CSA higher up to $71 - is he allowed this table have I been cheating my truckers? Thx for any insight. D

No I get the WI H - if I "file" the return - it uses the loss up... so if not required to file then do not have to use loss...

ok,so I am refilling the Brother toner and it is printing nicely - I thought only printed about 50 copies and says need new toner Is there a way to reset the printer to think this is new? Another tip or trick I should be using? I got 2 new Brothers and only get abut 600 copies instead of 2600! out of any kind of toner - ??? Thx D

so I'm thinking - very dangerous this time of year.. as I am amending WI Homesteads from 2009, 2010 (wondering what happened to the resolve to do in the summer - oh right that was the 2012 ATX program issue - I digress) and if a Sch D, or state Sch D is not needed as the income is too low can it be carried forward to the next year and the next until they sell something at a gain? The form does use it "up". but it really was not used. I believe someone did ask this but wondering... Sincerely, D ps - do not blast me for asking this. thx

bought pbutter, broccoli, celery, hummus and yogurt bars last night... for the week - yogurt bars almost eaten up by hubby! No bread - forgot cuz only use flax bread. have to dig into the Easter candy I guess

Steve says you just wanted a reason to get out of the house (buy a hamper) My dishwasher broke and the septic froze up - with employees and pumping 1x every 8-10 days - not washing anything! Not planning to eat out after lunch today until the 16th - nose to the keyboard!