michaelmars

i did this and it works

File the 1065. the more income that comes from a flow through, the better off you are. and as Ed said, more fees too. IRS defaults an LLC to a 1065 when you apply for the ein unless you stated that it was a single member

BRILLIANT!!! WISH I THOUGHT OF THAT

depend on your machine, newer puters have multiple inputs for multiple monitors. i have 2 ports so i have a split adapter on one of them to allow 3 and since its a laptop i also have the laptop screen availble. i would perfer 4 full size monitors though. sort of makes you feel like you are at nasa.

we should all email support about their lack of communication re; this item. i have been going back and forth with them on how they should communicate better but i am one lonely voice. it is interesting that during the outage i got a few marketing emails from atx but nothing about the problem till monday morning.

i got 3 monitors and when my new puter shows up i may go to 4. this year, prior year and quickbooks or other accounting program all open at the same time.

BUT SHE WOULD SAVE THE FICA TAX IF SHE DID THIS. sometimes clients are cleaver and tricky

NO citations handy, but inherited property is considered investment property so those items are to maintain the investment.

CCH Small Firm Services unveils ATX 2012 New features and expanded ability to customize various elements reflect input from customers. ATX 2012 is the culmination of an extended development process which focused on productivity gains and incorporated more ATX user input than ever before. ATX 2012 delivers improved efficiency, expanded client customization options and a fresh new user interface. ATX 2012 features a number of enhancements which deliver improved functionality, making it possible for the tax professional to be more efficient when working on client returns. The new software also offers tax professionals more opportunities to customize the way they manage their client relationships, from the way returns are presented to the content of client communications. The expanded ability to customize various elements of ATX 2012 reflects input the company received from its customers. “Tax professionals told us they needed software which met their unique needs and didn’t force them into cookie-cutter solutions,” explained Jeff Gramlich, President of CCH Small Firm Services. “We incorporated that thinking into the way we evolved ATX. For example, our new Client Communications Manager gives clients the ability to create custom content for their client interactions, and the Return Manager feature gives preparers the ability to manage their clients and workflow in the way which works best for them.” For more information visit http://www.atxinc.com/atx_2012/ .

and why make changes a week before a major deadling!!!!!

add to basis, likewise taxes insurance etc

Did everyone get the email that the 2012 product is out for demo purposes. They promise better printing, the option to open more than one return at a time and more global preparer options. YEA!

Ok i am still confused. In real estate its common for the capital account to be negative since distributions often exceed income due to depreciation and refi's. Property mortgage's count towards basis in allowing the capital to be negative. In this case the capital account is negative 500k. So what is the donee's opening capital and basis.

I am not concerned about the gift tax portion. My question is, does the donor have a taxable gain to get the basis to -0- or does the donee keep the negative basis?

partners basis is negative 500,000 fmv is 2,000,000. [a building] Partner gifts partnership share to his kid. I know the gift is based on the 2 mil. and i think the donor has to pick up a 500k gain but not sure. I don't think the negative basis gets transfered to the donee. Anyone know?

my bet is 3.5 mil, a compromise and not usable during life

all they did to do is have a legal address box and a mailing address box on the returns

MY office might be the next one on this list. My partner uses our address for most of the business entities we do as well as many high net worth individuals that have multiple homes. His logic is this way we are sure to get the notices timely. I guess we have 300 returns from this address.

thanks Lynn

i have a receivership that is ending and the receiver wants to be sure he is off the hook for any future audits. NY Sales tax is very good if you request an audit to either come in and do it or state they will not audit thus the buyer of businesses are off the hook for prior taxes. I found this form on the IRS site but the instructions are very vague. I was wondering if anyone has ever submitted this form, what is the time period for the irs to respond etc.

I keep boxes of crayons, pads, a white board and some toys to keep the kids occupied, and just to be mean, near the end of the meeting i offer some candy or cookies, let the parents deal with them all sugared up.

TRY closing the program and reopening

IF properly owned by the trust and the trust paid the premiums, then no, it bypasses the estate

Lie Detecting Robot A father buys a lie detector robot that slaps you when you lie. He decides to test it out on his son at supper. "Where were you last night?" "I was at the library." The robot slaps the son. "OK I was at a friend's house," the son admits. "Doing what?" asked the father. "Watching a movie: Toy Story." The robot slaps the son. "OK it was porn!" cried the son. Father yells "What? When I was your age I didn't know what porn was!" The robot slaps the father. The mother laughs and says, "He certainly is your son!" The robot slaps the mother.

MOST malpractice carriers have sample letters for you to down load and use for many of these type of situations.