WITAXLADY

oh I heard it like this.. men you can't live with them and you can't shoot them..

Thank you. However, can he switch to the calendar year after this?

So client formed a new s corp and is making a good amount of money. Wants to end year Sept 30thbso his 2013. So his personal year in one is less. Is this llegal. Possible? Please advise? Thx asap d

Client was in last night and said a new program allows her friend to pay x amount per month - less than what she was paying! and in 10 years all is complete and the rest forgiven. (He was upset as his wife paid all hers in cash over 8 years! ) So I have another client who owes $90,000 on his sons education (plus his son owes $$'s also) and they want $1100 per month from him. He has everything mortgaged, equity line, 2 vehicle loans and cannot afford the $1100. Student Loan place said file mfs and you only pay $250 per month. Well then he pays more in taxes each year. 1 - Have any of you heard of this recent law change? 2 - Do you have any other options for him to get his payments lowered? Thank you, D

ps - [email protected]

Dear Jack, MCB alerted me to this .. Please add me to the list. she is not networked and I am and what a nightmare. and we continue doing returns... Any comments now as I have until 10/30 to decide if I will pay for Proseries as my main or back-up? I have tried about 6 programs now and still keep coming back to ATX but I cannot $$ wise or even more importantly time wise - have a season like this past one with ATX 2012. And if you noticed at all from prior postings, we upgraded everything! Thank you, Sincerely, D

well mine wouldn't run - retry when almost thru...

yes post please

WELL, there is not an office there and the head company does recognize the office and supplies electronic equipment.. worth a try they just need to have more reimbursed if they want it deductible! Thank you

Taxpayers are mostly owners of restaurant franchise and most expenses are reimbursed including office equipment ion home. K-1 of S Corp. However, OIH expenses, meals and enter, other miles, etc are not. How can they take these expenses? cross posted. Thank you, D

ok - please help my lazy self... I am still so busy - went on lake vacation for hubby's 60th b-day. Came back Mon, he fed animals, I visited my 80+year old folks and when he came back in about the time I got in at 9 pm, he had 2 calls from his siblings. Can't make it your dad will have died before you get here - in the car in 20 minutes and 7 hours later got there at 4:30 am. He passed away at 5:30 am. Spent the next 5 days back and forth between Iowa and WI. So now I am gone 2 weeks and trying to catch up. So the question is - Is the Capital Gains rate the same in 2013 the same as 2012? Thank you so much. Sincerely, D

NO! I have al win 7 - even updated my last 2 as the xp were not very compatible for 11 last year and 12 - kept shutting the network down. I even got a new server - the old one was 2 years old. Just a nightmare - Support was great tho' - walked us thru - hours at a time!

I tried Drake in march and couldn't make the transition on the fly and tried it again in May - we were prepared to go with it but there were just so many differences - the major being the calculations of the pages back and forth and the entries on the "pages" and not on the forms. So Proseries it is.. I didn't want to renew with ATX for 2012 as it was so slow in 2011 - many times I have said I would take the slow! Even now ATX continues to crash. I updated again to 18 and at least 2x a day, I have to shut down out of the program or totally reboot as "it is not responding" and cannot get anywhere! I just have so many extensions already on ATX I want to finish those first! What a mess and as I was discussing with my dentist this am - what chaos 2014 will be with Obamacare and 2012 is still a mess.

man, you guys are tough! 1 - she will pay and has been but I am beginning to feel she needs to hire someone from this board instead or elsewhere in the state that I am not doing her any good or justice. 2 - Business wise - her actual only assets are $55,000 for the trucks and trailers, no property and the business keeping running and generating income. business closes, no monies. What value would that be to the IRS to close it? Why would they not be willing to do an OIC? as long as she keeps current and pays? 3 - Personal - ok - we can do a personal inventory and set up a payment plan for her... I am sure she could eventually pay it. 4 -The brother who had no knowledge - ignorance is not a reason, really doesn't have assets except the house with a mortgage greater than the value and that is about $60,000, a truck with a mortgage and only 1 vehicle at that. What are his chances - try it and see? 5 - Really - my E&O insurance would talk to me about this stuff? I have it - never talked to them about anything... just pay them. 6 - I can insist we do the books Thank you, Darlene

I have had nothing but problems all season and in fact the program crashed at least 6x Apr 15th and had to file extensions for all those picking up that day - I was not happy at all! but I downloaded 12.15 last night and it sure seems to be fine today - no complaints from anyone. both 11 and 12 opened and earlier yesterday I could not get them to open - thus I figured I might as well try 12.15... So maybe it was finally the right combo? We will see and be careful with the praises for 11 - when the rep called me in May - I was not renewing as 11 was soooo slow - we could not stand it! I only renewed as he said 12 would be so much better - eat those words!!

OK. Thank you. I see the theft issue - I always have. I was appalled. It is hard to be objective when I have her in my office crying. Plus now her husband has been in the hospital with heart problems and she has to go in for surgery when she reaches 65 in August. CPA - accountant? you are funny - she does the books herself - how do you think the problem arose and continues to do them with one of her daughters. As she turns after the fact payroll over to us - we submit her payments so we can keep her timely along with her estimated payments. so she is up to date now. And is making sure her two daughter's new businesses are totally legit and done properly. It was a combination of ignorance, fear and stupidity.. harder to fix that, but give her credit - she is trying. So I am trying to resolve the issues and am looking for steps 1,2,3 ... Believe me, I am well aware of the criticism and was asking for some solid advice beyond that. So if you can help with that I would surely appreciate direction and confirmation. D

OK - Thank you all... "keep paying in cash" the only assets are older trucks and trailers and the good faith agreement with the business they haul for . so no need for a loan at this time to leverage and no assets to get a loan on as collateral or if sell assets - nothing to generate income with. So not sure what you meant there? Trucks and trailers worth $55,000 , salaries of officers - 1 the driver running 1 of the trucks full time - 39,000, the other the secy/treas/bookkeeper - 29,000 and already took a cut in pay. Yes - you are right she - he never even knew! she didn't take care of things - brother, inherited a trucking business that was doing ok but not great and really did poorly and got by by not paying govt obligations. Came to us in 2008 and we have been trying to get this worked out and they are working on raising rates and paying obligations and being profitable - just not enough to pay all of that back and still stay in business. Even if they closed and liquidated, the firm could not pay the $$ amount. So should they close and put 10 people out of jobs in a small community or keep trying to work this out. We went to a bankruptcy/tax lawyer and he told her nothing for her $300 on the OIC etc, options and he is the area expert - 35 miles away. The IRS agent that we were working with didn't know how to help either. I had another client contact one of those fixit companies and said we got further (with the state) than that company did. Be glad to do a payment plan - $600,000 over how many years? nothing would be reasonable. She has been saving for the $80,000, they could do $2,000 a month. what is reasonable to the IRS? What changes are you talking about in accounting procedures? And it is not a new trailer - it is a used one about 1/2 the price of a new one but their current trucks, trailers and computer are now 10 years old but running - so yes maybe they should close but to what purpose does that serve? So then how do they proceed? I am not adverse to "hiring" Jainen! Sincerely, Darlene

OK - didn't file taxes for payroll or 1120 since 1993. Filed 1997 and to present . Records not viable from 93 - 96. Very first offer rejected as law then said all tax returns needed to be filed. Law changed, do not need to have all filed, just last 6 ? years. Early filings show -0- owed for income taxes, just mega payroll taxes. 2011, 2012 - all payroll and income paid and in compliance, as well as estimates for 2013. That is why there is no money for OIC now1 Making money and has to go to estimates and income tax. The last OIC offered for $100,000 with $20,ooo down and $80,000 paid was too low they said and the firm had to pay it all - it did not have any income taxes in as expenses as the taxes were not completed and no idea they were finally making money. So we redid the OIC with the taxes paid and the estimated payments and only $30,000 to buy a trailer in Dec 2013 - $2500/month but the last 3 months they only had $500 a month extra to put aside - so they are not making much money anymore. Themselves personally are current the civil penalties are because they did not file corp taxes, etc. So what is my question? What do I need to look out for to get the OIC allowed?

YA, I received my Pub 17 and E on Fri!!

Hi am resubmitting an OIC - owe $525,000 submitted $100,000 with too much earnings, resubmitting as there was not the quarterly payments to fed and state and year end tax with it. Along with an escrow account set up as the trucking company only pays cash for trailers and last one purchased was 2003's in 2007 and overdue so setting aside up to $2500 a month to escrow $30,000 by 12-15-13 to purchase another trailer. - leaves a negative 3 month P/L Any other hints? Assets $55,000, cash on hand $390 - that's it. Filed 1997 and up, compliant and paid with all since 2011 Officers also up for civil penalties for non filing since 1993 - one we filed -0- as has no assets as house is underwater with mortgage the other we offered $40,000 and they rejected - want the whole $200,000 as she has HIS retirement fund and their house valued at $60,000 Thank you, sincerely, D

and then my client - a guy applies and shows the proper qualifications and gets denied just because the mom already filed and they don't check her out... he pays back thousands!

spend more money... I thought we were trying to run this like a business or a household and live within our means!

THAT is what I would do - asap d

figured it out - it's line 11 on Sch e - pretty obvious - duh!

YES, ACTIVE CHECKED if I do 6198 I can get it to work but not when I check it for all properties - I am going to print the sch E and 6198 and compare to see which ones It is allowing the losses and which not - no time for this no AMT, checked that, no pg 2 thx