FDNY

Sorry, I wish I never brought this up. You're probably fine. I'm the one with the headache, my two exposed clients fight me on this every year.

For employers, if payroll is under a certain amount in a quarter they are not subject . But partnerships, LLPs and LLCs must give their partners and members the amount allocated to the district for their individual returns. Pub 420 on pg 19 says the MCTMT is imposed at a rate of .34% of your TOTAL net earnings from SE allocated to the MCTD for the tax year. ATX doesn't say that, at least how I am reading it. I liked it better before 2012 when it was a separate return, I would fill it out and give to the client to mail in, no one did and the threshold was only 10K back then. They were never questioned I guess because the state didn't have any info as to their allocation of income to the district. If my brain wasn't fried earlier, I think it is now.

Wondering if any of you have done any returns relating to the MCTD (Metropolitan Commuter Transportation District). The instructions say no tax imposed if self employment income is under 50K. But if 50K and above all the SE income is taxable. But the worksheet in ATX says on top "Only the total net income allocated to the MCTD that exceeds 50K is imposed the MCTMT" (the tax). So which is it? All or amount over 50K? Maybe I'm reading into this, but I've always used the ATX explanation, now wondering if that's not right. I hope someone knows, don't make me call NY Monday, they're cranky after the weekend.

Being mezza e mezza (half and half) I get to eat chocolate covered macaroons and marzipan, and Easter pie, I love these holidays, but Monday I diet.

And the waiting forever on them so we can finalize a return. Just because they owe a lot they think if they wait to the last minute it will change. A good zap to goose them a little.

No wonder, I didn't have to wait on line at the PO for a certified mail today. Too bad, it's my only break time talking to other humans. I like when someone says, oh, I need a new tax guy, sorry, not taking on new clients, that feels so good.

When I feel my head start to tighten, like that tool old people use to take a tight cap off a jar, I know it's time to stop! I hope we're not scaring away original poster Alex.

After you get married it will be easier to search, but maybe more difficult in other things, I don't know, just saying.

Yes, I should have clarified, sometimes a hug is a hug, but not really the type of hug you would want.....if you like living.

No abuse, plenty of hugs!

Same here, love the quiet time, also clients are impressed when they see my early emails. If we had a partnership it would be a 24 hour tax service....not sure that is a good idea though, clients would take advantage and might call the wrong number and wake one of us up.

I hope you went to bed by now, it's almost 6am and I've been here an hour already, we're on opposite schedules. The DLs are driving me nuts too for the same reasons. Before the season started I printed out all my NY clients' NY INFO sheets (over 100) showing the license info since it doesn't roll over. I curse when I look at one and it's expired. This year I am not showing the info on the NY INFO so I've been updating the 2016s manually for next year. Trying to make a lousy situation better, but it's probably a good idea for ID theft, I guess. All I know about Utah is I once floated in the Great Salt Lake and Marie Osmond lost 30 pounds on one of those TV diets.

Wow! Really beautiful. That girl is going places, the boy in the blue shirt I need to talk to if he wants to date the superstar behind him someday.

Of course in a perfect world to get a lot done, we would receive a client's tax package with questionnaire and organizer adequately filled out. Then you would call or email with any questions and responses would be timely and you're done. My workload comprises of about 90% of those, they are longtime and well trained clients. But these next few weeks most of the PITAs surface. Working on one idiot, sorry, that's harsh....moron right now. Like pulling teeth to get SE expenses and documentation because he likes fairytales and has a wild imagination. Then it's the waiting, and having to go back over my notes, more than once. My favorite defense....surcharges.

Upon further thought (I know this is dangerous) I would think those capital gains are calculated with the basis within the fund of each individual stock that the fund sells. But then why do you never see capital losses reported on 1099Div when fund is doing poorly? The fund must sell its losers like any other investor. Something to think about this weekend in your spare time.

Hmmm, good question. if this CG is from a brokerage house they are probably from more than one mutual fund. If it is from an individual fund it would be easier to identify. But then where would you enter it as the cap gains from the 1099Div input transfer to a box on Sch D with no place for basis (or maybe there is an adjustment box on input sheet, not sure, I'll have to look). I wonder if the basis is already calculated into the client's basis in the fund as those CGs are reinvested most of the time. Too much to think about and my head is starting to ache.

Being an early riser I amaze myself what I can get done before 9am, then it slows the rest of the day. But some clients (and all my friends) know I'm in the office very early and think it's time to call and talk about the snow and their latest boyfriend/girlfriend, husband/wife and kids' problems and oh, some tax/financial issues. Cutting them off feels really good. And the smart ones don't call back until after April. In my next life I plan to be a therapist so I can talk to them and charge by the minute.

Yep, it's fixed.

With a little help from my friends, like you (and a karaoke machine) I'm good to go with Ring of Fire. Amazing Grace always chokes me up.

Just checked the other board and someone said it was this morning's update so watch out for this if you have any. ZEE ROW...I said it again, I must have some southern in me.

I sent this to ATX, just wondering if any of you have any insight. I'm showing an addition to federal taxable income on page 2 of SC 1040 coming from Additions to Income list #19: Deduction for out of pocket medical expenses that exceed 7.5% of AGI. Client has no medical expense deduction. Program is calculating 10% of AGI and making it an add back to taxable income. Now that can't be right, shouldn't it be zero and needs to be overridden? Thanks for any help. First time I said ZEE ROW in my life, thanks Rita, I feel better.

Elrod always knows how to lift our spirits, and at the right time. Thank you Elrod, a good laugh is great medicine, Bill

Too funny, definitely save worthy, Thanks.

Not even Dorothy and Toto? You have too much of a heart to say no. And what about the brains and courage that all tax preparers hope for at times, surely you would continue to help us out.