michaelmars

that's a pretty impressive increase and yet you still have all the time to post here. Good time management!

How can you say that at this point. You can't check calculations, you can't check tech support responsiveness to errors nor can you check customer service at all. Even if your test work perfectly, would you still use atx if you had to hold 4-5 hours for first tier support? There is more to testing the software than just installing and printing. With all the posts here re: disappearing assets etc, is there a way to test this yet or do you have to wait for the 2013 forms? That could be a real deal breaker for many. I would hope 4562 and k-1 integration would be a priority for atx to get out to the beta testers.

so I guess you won't take a client that ever defaulted on a loan or declared bankruptcy?

or talk to a client on a cell phone in public

still not sure on the amounts owed, if the 47k is the total tax then is the 13k a penalty or the trust fund amount of the 47k? the company can close and the only amount due by the shareholder is the trust fund portion of the taxes due.

Is the 47k all trust fund or the total taxes? make sure any payment he makes goes to the trust funds due and not to the overall taxes due first.

HAPPY BIRTHDAY you insight and knowledge has been missed

one problem is that legislatures get rated on how many bills they introduce or support so they have to keep coming up with new laws to show they are active and "worthy" of reelection

ITS Either an installment sale or you allocate the cost basis or you can take the full cost now this year and 2013 will be 100% gain

here in NY you can get a massage

how can their be a partnership return for a SMllc?

its a schedule D transaction offset by basis. Liquidating distributions isn't a sch B item

In regards to this.....the customized columns should roll over each year. You have to rename them each year even though the prior entries roll over.

why not have the new business in a new entity and start clean!

I just came across this http://www.grgpc.com/In-The-News/Gray-Ritter-Graham-Files-Class-Action-Regarding-ATX-2012-Tax-Software.shtml

I just go with 10%. Usually the taxpayer is buying the apartment and has nothing to do with original cost of the building. New construction is easier since you have the actual building cost.

LOL when I saw the 10% posted I was just counting the minutes till it got slammed. I too use 10% and once in a while had to negotiate up but is you start high then you can only go higher. Its one of the throwaways to keep for an audit and since most real estate has losses that are suspended the re-adjustment doesn't effect the individual. I personally think its a bit subjective since one person may buy the lot and keep the building where another buyer would tear it down and rebuild. only if my client was going to raze the building would I use a higher land value which in that case would be 100%. Here in NY there is a whole cottage industry for real estate tax reassessments. Everytime mine go up I go for a reassessment and get it lowered so why would I use the governments value for my clients? When you have a $5,000,000 co-op in a 40 story building, probably less than 10 should be land.

that's when you have to step up and take charge of your practice.....you can't let yourself get walked on but in this case I was only referring to the posting that said she felt so bad because they had little money. People make choices that hurt them the least or make them feel better. I feel good when I do a return for someone that needs help and can't afford it or doesn't know they need help. Doesn't mean that I want a whole line up of freebies but as you said.... I bet you felt great telling the h/w with a spouse on active duty that the return was free [what did it cost you, a 1/2 hour]. Of course you don't want 100 of them but a few here and there can't really hurt and can make you feel really great. I gave away a bunch of freebies to people who lost their home in Sandy..... never even crossed my mind to charge for the pain in the *ss carrybacks, when they are living in trailers or motels etc. After 9/11 I must have done 25 free returns when parents came in with their murdered kids records or visa-versa. You can't fully respond to a post in 3-4 lines and MsTabby seems to take this personally [there is always more to the story than what is posted here] but if you feel so bad because someone needs the money and can't meet your fees then you do the return. Unless you will then feel so bad for not earning a fee, then you don't do the return. I just can't see doing 90% then bitching about the rest or regretting getting involved. And many times those freebies bring you in great clients. Every uniformed service person I don't charge due to a "line of duty injury" usually gets me 3-5 of his buddies as clients. My rep isn't that I do work for free, my rep is that I get it and feel for people in distress. That unwed mother or father that loses his job....eventually they get work, need a more complex return, and recommend you to everyone they speak with.

I guess I have a different attitude.....yes time is money but once in a while you have to do what feels right. in the original post the taxpayers were in dire straights and need the money, so Just do the return for them. No different than any other volunteer work. I am a vollie medic and donate my time so what's wrong with donating a bit of professional time too. Lawyers call it pro bono and some larger firms demand it of their staff. Maybe I could bill out every minute or not be at my desk on a sunday in September but I think I sleep better knowing that I have helped someone. As for getting rid of pain in the *ss callers why go to such elaborate extremes, just say, hey you caught me at a bad time and I will have to get back to you. No one will ever fault you for being a busy professional. Or tell them this is getting to detailed so you need to make an appointment.. most won't want to do that.

Ken, this is the same list they put out every year. Sounds more like a wish list with no specifics

another issue is insurance. Now that same sex marriages are legal will insurance companies in those states, stop offering domestic partnership policies? after all they can now say if you want to be covered as married, get married. It could be a boon to them by reverting those policies back to single from married coverage.

i have a few 706's that might have to be amended but I don't think many of my clients will want to amend their 1040's unless the tax difference is a large number.

Actually, in NY you can record your conversations as long as you are a party to the conversation, you can't record other peoples conversations that you don't participate in. My phone system has a handy record feature which I use "for training and quality control purposes" In the past I have even had a secretary listening in and taking down the conv in short hand, before such advances in technology. I am not sure of the law if you are in NY and the other party isn't.

the rest of you can do what you want but when I hit the big one I am utilizing Jainen's plan to avoid estate taxes. its the best tax planning I have heard of coming from this board. [of course my current wife will want her cut first - oh well] as for triggering gift tax - if she gave the ticket to a kid prior to the drawing its fmv is $1. the increase is appreciation after the gift!

I am wondering why an 84 year old would claim this prize with the estate tax looming in the near future. She should have had one of her children claim it.