michaelmars

Thanks for the info, we have a vpn here in the office, i am just looking for a solution for my side practise which i maintain on my laptop and want my assistant to have access to, even when i am out. i can put it on the main server but i prefer to keep my side practice separate as much as possible.

can we stop this tread-its a dead issue!! [sorry very tired today!]

we use laptops as our main computers so if i have a server set up and want to do a return out in the field, how does that work? do you export it to the laptop or somehow check it out?

forget it i got the answer, not reportable on 4797 and atx has the required disclosure in the election statments

anyone know how to report this? client received the money and has to report the transaction but he has 3 years to get replacement property. i don't see how or where i make the election and if i have to override the gain number do i do it on the 4797 or the sch d to which it flows. i know about the required statements needed etc, i just don't know how to make it workin atx.

YEAH, transfer it to a different broker then do what is planned. this should not take 2 weeks. another option is to postpone the closing but make sure its within the time frame for the house purchase credit if thats a factor. you can always postpone a closing, just have the client or her attorney get sick!

I THINK HE ment year 2 year y2y, i use the comparission alot but do which they had a 5 year history report like proseries does but its certainly not a big enough issue to really fight for.

unfortuneately you can't leave a "0" sch c in a return and efile, you get a RED errir warning

THERE actually is a such a program called "1040 scan flow" you scan and send them the 1099's, w-2's and organizers and they input to the return.. the best option is that they send you back an indexed pdf file of all the data so you don;t need paper copies of data back-up, we use that part of the program. the input to returns leaves alot to be desired if you have extensiive k-1's, works ok for basic returns. the theory is you can spend more time reviewing than entering. it even reads handwriting in the organizers.

YES we are supposed to know taxes but not every preparer knows every state return, forms and rules. atx is not multistate friendly and my secretary may not know if idaho gets a copy of sch b but the software should-prosystem does! my point was its good value for the money but not as proficient as some other softwares and i find i have to spend too much time collating and printing forms, my secretary doesn't know enough to know what to print.

over the past couple of weeks i sent about 10 recommendations for next year, ie better work flow, putting federal and state efile authorizations in the same place, functionality etc. i received positive feedback on all comments, some they agreed with and some they told me no and why, but they seem receptive to making improvements and now is the time they are doing that sort of general programming. for example-we finally got letters for amended returns, these sort of improvements they seem open to so we should be sending them to atx now, before they get busy with 2009 form programming.

depends too on where you are located, i like atx input alot and the federal is a pretty good program but you need to know taxes, it will not automatically add forms ie 8801 unless you know to add it. foreign taxes are not intuitive at all and doesn't flow right from k-1 inputs. also it adds forms not needed ie 1040-v because it adds it right away although the rest of your input may make the return a refund. for NY a lot of items do not flow automatically and you have to really review the states. for example if you have a long term heath care policy it does not flow the the coorrect forms for the NYS credit. also NYS and NYC printing sucks for entities. atx thinks they are one big returns and comingle the forms and buts schedules specific to each entity on the same page. -that said, for the money the program is pretty good and by the time you do your 10th return you know just what is missing and just how to print. Don;'t expect a secretary to be able to go into the return and print out the copies though, you have to know the return and select the forms each time you print a return. if you use the default printing you get 100 pages us unneccessary paper every time.

1] FILE THE EXTENSION AND IF THE CASH IS AVAILABLE-OVERPAY-underpaying has onerous penalties. 2]the accounts may not be joint if the daughter only had signature authority but if joint i would include 100% on the 706, if intent was to make joint and over the gift tax limit then gift tax may be00 due from the transfer of 1/2 to daughter. 3] you need an appraisal, not a realters estimate, almost 100% [at least in NY] of taxable estates are either audited or otherwise reviewed. YOu need iron clad proof of the house value and even so the irs will fight your value. if you are using the same realtors value whom you hired to market the home then the value is puffed up getting your hopes up to hire him and has no probative force. 4] executor fees-many states have stated fees ie 5% of first 100,000 then 4% of next mil then 3% of balance-etc. and not all property counts-that would be the max unless a judge approves more. as for if she should take it, that is a bracket game, if the estate is in the 45% rate and the individule is in 25% then take the most you can, [a nonprofessional executor does not pay fica on the fee.

THANK YOU WAYNE a while back atx told me only the current 2 years would run on vista, glad to know i can install prior years. got my new puter a few months ago but so busy with 9/15 and 10/15 that i haven't even loaded it yet.

does atx run well on Vista???

i can't see a problem with that as long as they have the same and complete info on the forms.-

When you are in a seasonal business you work the season. most of my clients need outside k-1's so they have to wait till the last minute until they are received. [this year is better] but i love the late ones. so i loose some sleep for a few weeks, i jack up there fees and since the work is mostly seasonal i can be very lax in the off seasons. i work 7days a week all hours from 2/1-4/15, 9/1-9/15 and 10/1-10/15 and the rest of the time i never work more than 3 days a week unless i want too. for me its a good trade off. of course the few clients that are pure procastinators and didn't have to wait for any k-, its either pay me double my normal fee or i do drop them.

if possible have the remaining partner have his wife own 1% as non manageing member, this keeps it in a 1065 and off of the 1040. as for the outside basis, it gets booked on the partnership returns with the additonal depreciation allocated only to the parnter that did the buy out, in this case the 75% partner gets it all so there is no reason for special allocations. [if there were 6 partners for example and only 2 bought out one then its a special allocation and a p.i.a. to get to flow in atx]. don't forget that some of the increase must be allocated to land. the increase in basis is a 754 election which must be made and there are some questions about it on the 1065. i think others here have disagreed with me but i handle over 800 partnerships with partners changing all the time and i never get a new id number and thre is an option to do a pro rata allocation of income for the outgoing partner, i never do 2 returns.

fully deductible, not subject to 2%.

nope, the fee is for the 1040 and throw the state in for free! <s>

Booger is 99% correct. there is an issue it the entity is a real estate entity. real estate profits are not subject to fica but taking them out as payroll is subject to fica. a 15.3% increase in taxes.

slightly unethical-maybe, but why not file with what you have and amend later if necessary, that way no penalties. just get a fax or email of the authorizaotn forms asap.

just finishing the last of my 262 returns that were on extension, my companyies. Monday i start personal extension returns-about 200

i'd file them in the 4th quarter, why beg now for penalty relieve. save the begging till you need it, and who says he took payroll over the year, he took advances or distributions he planned to pay back but since he cant he charged them to payroll at year end. and as gail said, he didn;t know but now he does [thanks to you] and thats your excuse IF and When it gets questioned.

Depends on the audit issues, if there is a chance of preparer penalties then why repeat them in a 2008 return which might come back to bite you. if you are ok with your work them file