ZoomnFinancial

11:15AM CST. Was able to transmit one return.

I thought it was me. Luckily I only have one extension that needs filing. I won't be pushing my other clients to get me stuff.

Sorry I left that out. It's not for a specific return at this time. It's a proposed business deal for a current client.

Exactly how I have handled my 2 bitcoin clients (no dividends). They aren't making $2M...

With all the changes this seems like the year for new things... Here is yet another one! Start-up company so even though most of the work could be done remotely, employer wants employee on location for majority (4 out of 5 days at least) for management discussion, face to face vendor meetings, etc. It's a 4 hour commute one way. Employer purchasing a town home for employee and one other employee that will be traveling. Town home is being purchased under another entity of owner of start-up. Fringe Benefit or not to employees? I would have said yes to fringe benefit except an "exception can be granted if the lodging is for the convenience of the employer, is on the business's premises, and is provided as a condition of employment." Can EE be covered if it's written into the employment contract? Anyone have any experience?

Thanks to all who replied. I really appreciate the ideas on how to handle if I do choose to take this on.

Yes I know. Haven't seen the rest of the information but from the sounds of it he gets paid as a contractor all through the 1099. Employer in this case is used lightly. Thank you for the feedback.

Yes. Owner basically said talk to my accountants as he wasn't sure. Finally received the worksheet from them. Agrees to receiving the items but most of the "equipment" was from prior years. Plus why would the methodology change? No signed documents stating as such.

Summary Client (NEW to me) received a 1099 from former employer. Items included on the 1099 are for time and equipment that owner purchased as part of job. Client agrees with the "time" amount but disagrees with the equipment evaluation. Details Client worked for company since 2016 and left in 2018 for what I believe is a competitor of p;f employer. Company is an outdoors marketing company from what I gather. Client never received a 1099 for "equipment" in the past nor are current employees receiving one for equipment. Some of the equipment was fishing gear, camera and a 4 year old computer. Much of the equipment being recorded was given / used in 2016 & 2017. Former employer is also attempting to 1099 client for one of the business trips they took to a large marketing convention (again was never done in past) as he was accused of using the convention to find new employer. Left the company 3 months after and client said he was doing the work he was assigned not on a "recruiting" trip. Employer was there the entire time and said nothing before hand. Client's old e-mails were deleted immediately upon leaving company. I'm thinking employer is recording as such out of spite especially since it's a change to how historically it's been handled. In the end it's ~$6k of additional income (from what I have heard) but doesn't seem right to me. Client has a worksheet from former employer to match values on 1099.

I haven't raised rates for most of my clients until this year. At that it was only 5%. I typically give a new client a discount and then raise their rates to my norm over a few years. Also give discounts ($25) for each new client one of my clients refer. I have been known to give away a free return or two if the clients refer clients for a few straight years. I am a really small shop (~110 clients) that does taxes on the side. Nothing else to do during MN winter but ice fish and that has gotten to be too much work. My business is ultimately my retirement job once I stop working for the man (Accounting manager in Insurance currently). If my clients don't like the cost of living wage I encourage them to reach out elsewhere for cheaper rates and better service. They typically are back within a year or two with an amendment that needs to be filed (if they attempted it on their own). Been with ATX since the beginning. Thinking about trying out Drake and have already downloaded the 2016 program. Would save me about $550.

Tried the simple uninstall / reinstall and it worked. Got all my returns back up (excluding which returns paid). Luckily I have a list. Now just trying to get my printer driver reinstalled but it has opened 3 different days. E-filed the 1st extension today. It could all backfire but knocking on wood that it doesn't.

Don't know if it helps with your situation but a 401K Match from an employer is listed this way sometimes (I know mine is).

ATX 2015 / Stand Alone / Windows 10 Developed a bad hard drive so upgraded to a SSD. While I was at it I had my cousin upgrade me from windows 8.1 to windows 10 (clean install). I was able to get everything off the old HD and moved over the new one. 2012 - 2014 programs work just fine and I have imported the files from the backup. I installed 2015 program from the website and when I go to open I get the below error Can't Connect to Server. An Attempt was made to start the server process, but the application is still unable to connect. Please start the server and try again. I have tried to reboot and completely shut down multiple times with no success. I tried to restart the server from the notes I had but it didn't work. The one time I tried to upgrade from 8.1 to 10 in December 2015 I got the same error so I reverted back to what worked. Any clues on what to do? Thanks.

Thanks all for the information. I'm continuing my digging. I have read the promissory note agreement between father & son. It's very basic basic terms with no interest rates. Only other part is in regards to default / bankruptcy and that the father can take the company back if such happens. There is a section that references the Membership Interest Purchase Agreement so I have requested that from my client.

Right click "Run as Administrator" or http://cchsfs-atx.custhelp.com/app/answers/detail/a_id/15000/~/cant-connect-to-server.-an-attempt-was-made-to-start-the-server...-when

Judy - Thanks. There was no rate of interest stated on the note. Just says principal sum of $200k payable in equal quarterly installments. Do we add the principal payments onto the 1099? Father has had the business for 10+ years. I can't imagine he has much of a cost basis since it's really a service company. I will continue to research. Love when I am brought into the equation after the fact.

Got some new information on the transaction... The partnership that existed with father & son was really dissolved on 12/31/2014. My client (son) really is only purchasing intellectual property (past customer list and power point / idea) and started his own LLC (if he would have asked me he would be set up as a S-Corp for tax savings). Father started his own LLC for consulting work.. So in the end the agreement for $200k was to purchase the intellectual property and not buying out the other partner (even though one could argue that it was buying him out in a way). From my conversations with client I don't think his dads accountant knows how things were handled. We have passed the father a 1099 for the consulting work but father and his accountant haven't asked about the $20k that he was paid in 2015.

Client of mine is purchasing his fathers equity interest in the partnership they had formed. Father started the business a number of years ago and then included son as partner in 2014. Starting 1/1/2015 son (my client) purchased the business for $200,000 over 10 years via a promissory note (do have a written agreement). Value of business was based on average "sales" over the last 5 years. No valuation of the company was done outside of analyzing the sales over the last couple years to determine a purchase price of $200k. No real physical assets and no liabilities. Business focuses on specialized training and facilitation to conduct root cause investigation. The "concept", powerpoint slides, former customer list were the main asset being purchased. Son still uses father as a consultant when he is over booked or needs coverage (maternity leave). Issued a 1099 for his time that was worked. Any assistance would be grateful. This was just sprung on me and never had dealt with this since undergrad. Happy New Year.

Not open sudays or else I would.

Yes I have that printed out and have used it. It is not allowing me to restart the server. I get a timed out error that I have never received in the past.

I don't see the ATX 2014 Server in the administrative tools even after I got the 2014 re-install to complete.

NEVERMIND>>> Went to install the 14.5 update and I get the same error.

HOLD YOUR HORSES... Installed from the disk (was from website previous) and now it works or at least opens. Of course have to go through the updated but it opens...

Short story since I am giving up for the night... Got the dreaded Can't connect to server and tried the uninstall / re-install. Now I get the below error. This time I did uninstall the ATX2014 & ATX 2014 server so maybe that is the issue but uninstalling just the ATX 2014 didn't work. PLEASE HELP. Package ATX 2014 Server Error: Error 1920. Service ATX 2014 Service (sfs.Server.2014) failed to start. Verify that you have sufficient privileges to start system services.

Yardley - Yes reboot (multiple times). Uninstall / reinstall worked BUT now I just tried to get back in (went to a friend/clients) and now get same message.