Abby Normal

QuickBooks but I have heard of others using billing systems that allow various online payment methods.

Not that I'm aware of.

If PayPal ever gets hacked, there will be no safe place to hide online.

It's a nice group now. I learn a lot there as well as here so I routinely use both.

SS-4s: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

Ha. We used to able to submit electronically but so few tax pros used it, the IRS killed it. (I hate you all.) I fax to CAF and check after a week. It takes 1-2 weeks most times.

If this is a revocable lifetime/family trust, you don't file a 1041. If this is a standard trust, you'll need a trust bank account, tenants must make out rent checks to the trust and expenses must be paid from the trust checking account. If the trust has income, the beneficiary must take distributions from the trust to pass out that income. Otherwise, the trust pays the taxes. If the trust has losses, I think the losses stay in the trust to be used against future passive income.

I don't care about the pinned posts because I now view the forum this way, where the pinned posts don't show: http://www.atxcommunity.com/discover/12/ But I think it makes sense to have one pinned post with links. I suspect we'll have 10 pinned posts someday. Perhaps there should be more now.

Fujitsu makes high end twain scanners but I prefer the cheaper ScanSnap scanners for ease of use. They also never die.

Someone over on reddit swabbed ATMs and had lots of nice bacterial growths in his sample dishes in no time at all. Gonna have to start carrying a pack of Lysol wipes wherever we go. Lysol kills bacteria and viruses.

Yay! I'll have to add 'turn off your security software' to my recommended steps.

It's the way of the future and I love it. But is there a 'we need drink refills' button or a 'something's wrong with our food' button?

The IRS can't match K1s. They tried once and it was a spectacular failure. I doubt they've had the resources or the will to try again. So if you want to amend, do it. And if you want to wait and hear, that's up to you. I would never file a second return. I only do amended. And you don't have to wait 6 weeks. It will take the IRS 6 weeks to even look at it. Amended returns take months now.

Clarity. I thought you were saying it was excluded when paid out, not when earned. I was in tax return mode.

2016 Admin Console is in: C:\Program Files (x86)\Common Files\CCH Small Firm Services\ATX 2016 Admin Console\Sfs.ServerHost.AdminConsole.exe You delete the file and let ATX create a new one. It's safe to just outright delete the file and not make a copy somewhere. The deleted file will be in your Recycle Bin.

Android Pay generates a second CC # so your actual number is not in the POS system. I'm going to start using it whenever possible. Restaurants in America are the biggest stumbling block. When I was in Canada recently all the wait staff brought a portable POS to the table so you can pay however you wish and not hand your card to someone who disappears with it. America is always behind the times on things like this, because short-term profits are God in America.

I've noticed that it works sometimes but not others. Someday ATX will add enough to Advantage that I'll upgrade. I was tempted this year.

Bummer that they paid to tax to MA and now have to pay again to NC, but I understand states taxing retirement contributions when earned.

Ah, ok. Your original post stated just the opposite.

Why is it excluded from federal taxation?

Fonts are located on windows computers in C:\Windows\Fonts ATX font names all start with ATX.

I hate preparers who don't calc or provide the calc of basis. The return is useless without basis. I've caught several local CPAs deduction 1120S/1065 deducting losses with no basis.

ATX handles both stock basis and debt basis very well. But I never allow my S corps to have any loan payable shareholders. It's never documented in any way, so I just move it all to add'l paid in capital. Keeps it simple and avoids debt basis calcs.

You can only efile one return for each ID# per year. We had to paper file two short year S corp extensions and will have to paper file the returns.

The 'other' extension is file as is and amend later.