Abby Normal

I always highly customize the questions and get rid of the ones that are way too obscure. Always tweaking my wording when I see too many clients misinterpreting the question. I don't like to send them until after the new year. I like to let people enjoy their holidays without having to think about taxes.

Thank you, @DANRVAN!

Capital gain income is not automatically distributed so the estate pays the tax on that. Main exception is final return, when everything passes out.

QuickBooks all the way. We pay for the Enhanced Accountant Payroll package from Intuit and efile all W2s right inside QB. We still paper file 1099s because Intuit wants to charge us for those. It makes no sense to me to print these to a PDF and import them into ATX. Seems like way too much work.

You use the 2017 forms to do a short year 2018 return and enter the fiscal year dates at the top. If the year end is late enough in the year and the extended date falls late enough in tax season that ATX will have the business forms ready, then you can wait for the 2018 forms.

Go into rollover manager and click on the poorly named Last Month/Quarter tab. That lets you roll over 2017 returns to a short year 2018 return.

This is why we have computers and software. We couldn't really do tax returns without a computer anymore.

Thanks, @mwrightea!

TValue says it's 330,308.81 using 3.5% rate. I saved this file in case you want another rate.

Yep. You can't find PV without an assumed rate.

CAN YOU HEAR ME NOW?!

Isn't that just a checkbox on the 1120 and add a form 851 (which ATX has)? Or is this an S corp? Here's the knowledge Base article: https://support.cch.com/sfs/solution/How-do-I-consolidate-a-corporate-return-in-ATX?q=WKArticleType__kav You'd have to do the consolidating in an excel spreadsheet, if the accounting for each entity is separate.

Thanks! This has made me think about who will be on this forum in 10 years. Young'uns like @RitaB and @Possi will be, but a lot of you are older than I am.

I probably am too young to retire and may work part-time for Accountemps or some CPA firm when I finally move far enough away that I don't violate my non-compete. But I only want to work 2-3 days per week with large blocks of time off to travel... before we get too old to enjoy it or even do it.

Love the Stooges.

Just donated blood and my BP was 122/74, the lowest it's been in over a decade. Coincidence? I think not!

Thank you, Judy!

I've signed a sales agreement for my practice. I have high respect for the guy who's buying my business and I'm thrilled that what I started 27 years ago will continue to grow and prosper, and that my employees will have a great new boss and continued employment. (is everyone singing that Who song in their heads right now?) This coming tax season should be my last full-time one where I work 70 hours and 7 days a week. I still need/want to work part-time for several years to come, perhaps at the wine bar in the town where I live. They've been struggling to find reliable employees who won't steal from them or screw up their inventory. Excited for the next chapter of my life and for being less stressed. I can't believe it all worked out exactly as I always hoped. I'm not much of a planner but I've always been lucky as can be. Don't worry. I'm not leaving this forum. You all (y'all) are like family to me!

All on the computer, backed up to an offsite server. Organized by client last name with subfolders for years and a permanent folder I chose to call Misc. Some subfolders under each year for payroll or whatever is needed to keep things organized. Welcome to the 21st century! We started this in a very rudimentary way around 2003 and it's evolved continually since then and now all of our internal forms (billing sheets, jog sheets, time sheets, etc.) that we used to fill out by hand and scan are now spreadsheet files that we print to PDF when completed in a 'to be processed' folder, so the office manager can prepare the invoices and attach the pdf in QuickBooks. Then move the PDF out of to be processed to our business records folder. We keep no paper records, except signed original legal documents, POAs and efile signature forms.

Lordy, I do not miss that. I like those songs and IRS ruined them for me. I always thought it was someone with a sense of humor that selected 'nutcracker' songs for the IRS. They need some meditation songs like they play during a massage to soothe the caller so they're less irate for being on hold for so long. I just put it on speaker phone and go about working with background music. Once I took the handheld into the restroom with me.

I certainly would not like it. I find your posts extremely valuable.

I moderate /r/tax. I almost never go to the tax pros one. It's mostly petrified average taxpayers that post questions.

Trouble making the link right! (Please don't put me on oldpeoplefacebook!) https://old.reddit.com/r/tax/

You don't have to create an account on reddit to view the content. If you're interested, I am one of the moderators on https://old.reddit.com/r/tax/ We get a lot repetitive stupid questions but, as always, I've learned things there. We also have a few IRS agents that hang out and are quite useful.

Yes, it's your only option to file a return and it is a regular return. If the IRS will give you an address, they have what they call a reprocessing unit.