Abby Normal

Just got some SC form updates. Is it fixed?

I crank up the volume and put the phone on speaker and... https://www.youtube.com/watch?v=XcAl93uEYUA&feature=youtu.be&t=36s

Yes, it becomes active on disposition. Was it carried over as an NOL?

Aaaawwww. Thanks! Just call me the Wiz. And remember, on April 17th, nobody gets in to see the Wizard. Not no way. No no how.

Oh yes! In Customize Master Forms: Open 1040, 1040 EF, Comparison & 4868 Enter an amount on Comparison line 63 Total tax Prior Year column Link line 63 prior year to 4868 tab 1 line 4. Enter 0 on 4868 line 7. Check box Lock amounts and carry Restore line 63 on Comparison Efile Info-Check Practitioner PIN Efile Info-Link taxpayer & spouse PIN to 1040 EF Efile Info-Check ERO entered checkbox for taxpayer Efile Info-Link ERO entered checkbox for spouse to 1040 EF checkbox Efile Info-link Date Signed to 1040 date Efile Info-Enter ERO PIN Payment-Check Paper check

I wouldn't have spent more than 30 seconds on that.

Oh, man. You just like giving them... gruff. Too funny!

Boy you guys and gals are harsh. If they want to deduct 500, I let 'em deduct 500. At 15% that's only $75 tax. And if they tell me what they paid for something, I give 'em 20-25% of that.

Tax pros in office are more numerous than they appear.

Oh, let 'em have $25, it won't change their tax in most cases.

Yeah, but for them to be a dependent, their other income has to be so low that NONE of the Social Security will end up being taxable.

Social Security doesn't count towards income when claiming a dependent. It's a carve out.

Yeah, but where is the 'place'.

Indeed. Had a client with dependent care benefits on W2 but no child care expenses listed. He told me they paid cash and could not deduct it. I opened 2016 return while on the phone and he had preschool expenses, so it wasn't taxable last year. But as I was hanging up I realized we (be a team player, it diffuses the blame) had missed entering the DCB on the W2. I try to be efficient when reviewing returns, and we only see DCB once or twice a year, and the DCB was off to the left all by itself on the W2, but it was still a mistake we made. I had to sit with this for a few days before I emailed him the bad news. Frell. (I always had the hots for Chiana, even though I prefer brunettes. She was a bad/tough female character.)

I think you misunderstand my clients.

Because we charge $45 for an 8283?

Oooo, lamb chops!

Out of pocket expenses for charity just get listed like any other donation.

Nothing new since late last year and that wasn't the first case, but I say good!

Much lumping is done.

He deserves everything that's coming his way! Man, oh man. And I get mad at my clients for taking money out of retirement accounts without asking me the tax implications first. Who was his accomplice? He doesn't sound smart enough to form a corporation and elect S status. Ask him for the 2553! And tell him you need the corporations bank statements for the year so you can put it in QuickBooks. make his bill thousands of dollars more than last year, then if he leaves, you've actually gained.

Quarterly Interest Rates Increase for 2nd Quarter 2018 IRS has announced the interest rates for the 2nd quarter of 2018. As of April 1, 2018, the rates increase to: - 5% for most overpayments (4% for corporation overpayments) - 5% for underpayments - 7% for large corporate underpayments - 2.5% for corporate overpayments exceeding $10,000 As in past years when a rate change begins April 1st, for purposes of Form 2210, the former rate of 4% continues to apply through the unextended due date, April 17, 2018. Revenue Ruling 2018-7 https://www.irs.gov/newsroom/interest-rates-increase-for-the-second-quarter-of-2018

And since I customized 3 records of the 8283, it's been a snap to fill out.

I don't understand the problems with 1116... and I'm afraid to ask. Just did one and it had it numbers on it and stuff.