easytax

Just using Abby's post to share some information. At one point this was true --- today, due to many changes in the governments need to get more money from us, many sales tax departments have started (and more are starting) to use "nexus" descriptions that require more and more "sales tax" regardless of where, how, when products are shipped/delivered, etc.. MY BELIEF is eventually sales tax will be always, etc.. Just as DOL (department of labor) guidelines are now being used (revised again in July 2016) in place of the time tested IRS determinations of "independent contractor" (IC) vs. employee because it places more and more "IC's" out and causes them to be employees so tax is automatically taken by employer; the states win and government might get more money. The big thing here is mostly economical determinations instead of the "old" IRS descriptions. COMMERCIAL: no not really but a decent source to be updated is the CPAacademy.com webinars. All free and yes, put on as somewhat a sales lead-in BUT with a lot of good information and sources to help us keep abreast. ATX is a pain with the shipping fee, etc. because supposedly being a "leader" in tax prep. software, they show a lagging understanding in delivery of services by insisting on calling the fee "shipping". The explanation fro last year that, yes BUT it helps offset the computer time, etc. to service the customers (us poor practitioners) is poor marketing. BUT we are stuck with it and as many have said ---- if we do not like the overall price or service ---MOVE ELSEWHERE --- Still an ATX person because it still fulfills my needs and I am only in it for a few more decades (God willing, government still willing to tax, clients keep coming).

In today's litigious society and because -- your nemesis is almost always someone you know and deal with (the always a stranger will cause problems --- is not really the case). The better your procedures to automatically "protect yourself" (and business) the better. Exceptions can cause problems --- that is what standards and procedures are for - to mitigate those problems. Typically you are more vulnerable from a friend or family because you "typically" would not let someone else that close, so they could cause problems. I would also accept the brothers (fiduciary's) permission --- providing I knew them for more than this season, etc. If they were new this year or such, I would still request written proof (such as a letter, note signed by them) that they had the authority, etc. and did authorize the sharing of information. Even knowing the above, my own naiveté gets me in trouble most times.

Understood --- BUT -- with exceptions /// your knowledgeable answers, willingness to help, soft-slaps - to keep us on course /// minimum HARD slaps when we get ornery along with almost being here "always" make just some of the specials ---/// not to even mention those soft fluffy ears ///// Be well, keep enjoying. By the way, on the almost always here???? if you read the sequels to "enders game" they finally share that the "voice" ender has in his head (and always there/everywhere) is a super computer or entity (I have not figured out exactly which) ---- any relation?????

There is always "go-to-meeting" or if "cost-effective" like me (except I am cheap) there is Skype and at the very least conferenced call or simple 3-way calling. Put them on the spot --- not yourself. You are doing good by sticking to your guns --- nice work.

Yesterday received an email from ATX stating my renewal quote was available. Went to ATX (I hate following links I do not actually know) and found that I had my quote --- 10% off standard price with the $39.00 for shipping, etc. (we discussed this last year -- but no changes from ATX this year, it is still there and NOT able to be taken off) with sales tax added to give the DISCOUNT price. It is interesting that the "package" gives what they give in-your-level-package but NO REAL data on what is in the actual program for 2016. Will it have all that was there in 2015, will it have more, will it have less --- //// Seems kind of like congress --- you have to buy it to see what is there /// except unlike congress, the ATX people can not say they did not realize something was in the package (or missing from the package) because they were too busy to do there job and know what was REALLY there ----- or given the mentality // maybe they could still say either --- with a straight face of course. I am still an ATX person, but they definitely could improve many aspects. Have a good // off // season and be well and happy --- for tomorrow WE TAX AGAIN !!!

Agreed --- especially "what's good for you" (global concept). Can we vote on combining today (Ad min. asst. day) with this coming Monday's (May 2, 2016) 'World Naked Gardening Day" //// all ad min. asst. could then come for duties and also do some NAKED Gardening in the office /// ?? Just wondering?

And you want to retire and leave us ---- MY VOTE says NO /// now that that is kyboshed ---- THANKS for the app -- no more win 10, yea ''''''''

Most answers from the preparer community for the most part state that many of the IRS identify and fraudulent money paid scenarios can be GREATLY lessened by simply matching BEFORE sending refunds. Apparently the IRS "does not care" as instead of requiring additional and quicker reporting so the IRS can "match" they EXTEND what needs to be reported... The following information came from a company email ad looking for new clients -- (company is IRS Compliance) //// The IRS has published a draft of Form 8809 "Application for Extension of Time to File Information Returns" for 2016. The form clearly states the only form that will not receive an automatic 30 day extension will be Form W-2. However, all other forms will have the automatic 30 day extension available, including the Form 1099-MISC with non-employee compensation that is now due on January 31. As this is only a draft, the IRS could change it's stance, & we will keep you updated on any further developments The IRS has published a draft of Form 8809 "Application for Extension of Time to File Information Returns" for 2016. The form clearly states the only form that will not receive an automatic 30 day extension will be Form W-2. However, all other forms will have the automatic 30 day extension available, including the Form 1099-MISC with non-employee compensation that is now due on January 31. As this is only a draft, the IRS could change it's stance, & we will keep you updated on any further developments. Click Here to View the Draft Form

Yup, now time to do my new hobby .....

As an aside, is this a durable POA? (I am not practicing law here, just sharing an idea from my state knowledge). In PA, a POA unless "durable" can be invalid once the person cannot rescind the document themselves. The durability part can make it valid until death if need be.

This is me === anybody else?

May sound callous BUT tax question is were they covered ------ regardless of WHY ---- answer is NO. They need to fix and possibly get documents from INSURANCE side and then maybe discuss with tax people. Until then, the answer is NOT COVERED --- so do not lie and say "all year" coverage because the insurance people -- messed up - that was NOT the question ------ ARE, were you covered was the question ----- client needs to fix with INSURANCE people before tax can be anything else.

Regardless of party ----- the tax code gives the government the power to help or hinder and therefore make money for the politicians. If it were simple, a large part of the support economy would have to find other employment or professions. Expanding on the simplist approach ---- in confussion there is profit ---- and that is what politicians and government rely on ///// again regardless of party.

Terry, Search in this forum "basis of timber" . Here is I hope the link to the first post: There are some solid (detailed) things to look at with web references, etc. and will take some time BUT might get you there --- or closer. I had luck getting the "basis" with one client by simply finding out who had done the "timbering" and then asking them what the "value" of what was -- timbered -- would have been the year the land was purchased, etc., then simply what was paid - less what was --- I lucked out greatly. Here is hoping it works for you too.

People are only doing what they see the government doing -------- oh, you had 1-7 years to get ready for the new/changed law and requirements ------ since you are not ready, maybe we should allow an extension to when you have to make the changes/send the information us/clients, etc........ NOW --- if only they would let US print our own money when the budget we have gets extended????????? /s just so you know, US means us not united states or otherwise Also, in keeping with emphasis on a different word//// think /// I did not say you beat your wife /// was always my favorite but the "I never said he embezzled money from his business." from above might be more "political" acceptable these days --- so Thanks.

Not yet, but getting there.

PA is April 21, 2016. Here is a link to an article on "The Blaze" --- what is yours? http://www.theblaze.com/stories/2014/04/21/what-is-your-states-tax-freedom-date/

Accounting Today had a decent article on gambling vs: pools //// interesting read. "Taxing March Madness Pools Is Not a Slam Dunk" addresses several of the questions/comments here. http://www.accountingtoday.com/news/tax-practice/taxing-march-madness-pools-is-not-a-slam-dunk-77652-1.html?taxpro=1&utm_medium=email&ET=webcpa:e6416530:2544660a:&utm_source=newsletter&utm_campaign=tax%20pro%20today-apr%201%202016&st=email

Do you have a preference for security software ? Currently using Norton premiere 360, thinking of going to Zone Alarm Extreme Security. Ratings, reviews seem to be almost equal (Norton a slight edge). As Zone is half yearly cost with special bringing it to 2 years for one/fourth the cost of Norton ---- I am vacillating... Yes, I am cheap but willing to spend for "better" item. Wondering if any use Zone Alarm or know about it either vs, Norton or not. THANKS.

I am getting none with errors -- have small practice. Question: By "entering" correctly (I imagine based on client input) is that not altering a report from the issuer ------ just asking because many of us want (and typically know) what is "correct" and at times can fall into "correcting" something we should not. Which puts us at risk? I believe in the past you mentioned you had a law license so I will liken this to the court reporter/stenographer changing what is actually said in court to what should/might have been said when "typing the record, which is NOT what the "official record" actually is, etc..

Had a "timber" client (normal person, not in business, etc.) who in 2012 purchased land (second home/vacation) for 95K and in 2015 had a "timber" person purchase timber for $5,500. The purchaser supplied the basis of the timber in 2012 as $4,000. Did the "sale" with cap gain of $1,500. Am planning on reducing basis in property by $4,000 (timber value at purchase) to 91K. Does this sound correct? OR should property remain at 95K and the timber basis (4K) is already accounted for in the sale? Again, Thanks in advance.

Call me dunder --- what is KMA?

As the circumstances are a bit different and I am also interested in confirmation -- either way -- even if I am wrong, I submit the following as my scenario: In your case, yes, since the 50K value is stipulated as for down payment, then it is "part" of sales amount and therefore taxable (just like "boot", money, other property traded, etc.). In my case, the 'gift" was not shown, not specified, etc.. just given and was given partly as several 14K "gifts" to both the adult child and spouse by each parent (2 parents x 14K each to 2 others = 56K gift, (gift tax returns showing "gift's" of $57,000 split over two 709's ($28,500 each parent))). Parents, gifts value of property of $113,000 on a $325,000 FMV. Sale to adult child and spouse of same property for $212.000 on sales agreement. Using 212K sale results in no gain to parent when sold (would be true in any case due to personal residence, etc.) so all is reported in year of sale on sch. D. (212K is what attorney wrote up for sales agreement) with required interest (imputed interest, not an issue). Am I correct using the $212,000 sales price or should I be thinking differently? Child and spouse already own $113,000 (from gift) with no gain to sellers (parents) and are buying property for $212,000 as I see it. Appreciate input as always ! THANKS

EXCEPTION to this: Politicians can/may be/ seem to be -- BOTH

Remember circular 230 /// This was just covered in the March 1 webinar from the IRS OPR (given live again March 8 at www.CPAacademy.com). Bottom line is a written disclosure agreement informing them both of possible conflict. They may be friends but friends do sue friends at times. You MUST chose if they will not SIGN off on conflicts. Protect yourself.