Abby Normal

I got my PTIN in 1999, as soon as I heard about it. Not having my Social Security number on thousands of tax returns is a no brainer.

Yes, I need to develop a document retention policy and have all my clients sign and choose if they want a longer period retained. I was thinking I'd keep 10 years but give the clients the option to keep as few as 4 years or as many as they wish. I've had to refer back to 10 year old returns before. One problem I have is that my backup provider keeps deleted files forever, theoretically. So a backup would be available in case of a court order. There is a cumbersome process I could go through to remove those files from the backup server... or I could switch to a new backup service after deleting a bunch of old files.

Our file room is almost empty. We've been saving PDFs of returns and records since 2003. This summer we've been shredding like mad. We use a shredding service that shreds in our parking lot.

What do you see if check the Created box?

Do you have one of the filter checkboxes on the left checked? That's the only thing I can think of that would case that, short of a major malfunction in your database.

I avoid bonus for that very reason. It cuts down on state differences.

Not for them, for me.

Enter an AZ loss in the same amount as the depreciation addition to zero it out.

I would not file AZ. Any depreciation difference when selling the property will be accounted for then, by showing a smaller AZ gain (or larger loss). These state decoupling rules drive me nuts!

Can he get an installment sale to reduce his taxes?

I've done it before with zero problems. I just tell clients that the IRS provides a way for us to get 5 more days, and it just adds to wizard persona.

You can get 5 more days forcing the return to be rejected on the last day. I usually change the 2nd letter of the taxpayer's last name (Smith > Snith). https://support.cch.com/kb/solution.aspx/sw18051

I've had two give me crucial info (made estimates, capital loss) AFTER I had finished their return.

You have to base it in reality and not pick a number at random. You don't need the tax bill you need the assessment. Assessments are available online in most states. I believe there is a sticky post for sites for each state on this forum. Not sure if VA has been added. Some states have one for each county. VA appears to be by county: http://icare.fairfaxcounty.gov/ffxcare/search/commonsearch.aspx?mode=address

What's the rush? It's on my calendar for late December every year.

I find that very hard to believe. Do you have any cites or articles?

I've never heard that you can't use different methods for different vehicles but the difficulty is getting the actual expenses for each vehicle.

I think you're right, after reading Sec 167 & 1.197-2(c)(13)

Because that's all there will be for 2018 and forward. Unless someone comes to their senses and we return to the old 1040 or something similar.

You and should title the truck in the LLCs name, but it won't be a sale because you can't sell to yourself. Vehicle mileage depreciation: https://www.irs.gov/publications/p463#en_US_2017_publink1000298667 By the way, ATX calculates this correctly as depreciation. Yes, you can pick and choose mileage vs. actual by vehicles, but you can't use mileage for 5 or more vehicles.

Very few things are amortized over their useful life. 197 intangibles is 15 years regardless, but you would have a balloon amount of amortization in the final year when it becomes worthless.

https://www.irs.gov/businesses/small-businesses-self-employed/fishing-tax-center The term “section 197 intangible” is defined to include “any license, permit, or other right granted by a governmental unit or any agency or instrumentality thereof.” Thus, for example, the capitalized cost of acquiring from any person a liquor license, a regulated airline route, or a television or radio broadcasting license is to be amortized over a 15-year period. Consequently, the definition of an amortizable intangible can be interpreted to include a limited entry fishing permit.

The bottom half could be a coupon for 10% off for referring a new client. Or a free pizza.

They also make great hangman words. I have a 3 letter hangman word that no one has ever gotten.

I keep hoping ATX will let us print both half pages on one page instead of having giant white spaces on two pages. And the Schedules should print contiguously.