Abby Normal

Both. You deduct it as wages instead of health insurance on the 1120S. Then the shareholder deducts it as an adjustment on 1040 Self-employed health insurance.

We're back to the old rules on S corp shareholders and health insurance thru 2015, with the hopes that Congress will get their act together and make it permanent. http://www.calt.iastate.edu/article/irs-notice-2015-17-provides-some-limited-aca-penalty-relief-small-employers

No, you get to use the full mileage rate even if the cents per mile depreciation fully depreciates a vehicle.

Here's an IRS page on Direct Selling businesses. I didn't read it. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Retail-Industry-ATG-Chapter-3-Examination-Techniques-for-Specific-Industries-Direct-Sellers

It takes a LOT more than just a profit motive: In order to make this determination, taxpayers should consider the following factors: Does the time and effort put into the activity indicate an intention to make a profit? Does the taxpayer depend on income from the activity? If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business? Has the taxpayer changed methods of operation to improve profitability? Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business? Has the taxpayer made a profit in similar activities in the past? Does the activity make a profit in some years? Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?

The P&L gives me a net income to prove to. Usually on Sch C's we have to run a tape reconciling net income to the Sch C due to meals, mileage, etc.

It backs up Companies, Payers and Preparers automatically, but you have to do a manual backup to backup Setup Data. From ATX: "Setup Data" is a consolidated group of data that includes the following types of information that you use regularly in ATX: Preferences - all the preferences you've selected for your system Security Manager information that you've set up Print Packet settings Custom Client Letters Customized Master Forms EFIN Enrollment Data Unpostable Funds records FAM settings PRS purchases

It only backs up the files that have changed. It automatically backs up each client as you close it, unless you've turned that off in preferences. You can watch it happen at: C:ProgramDataCCH Small Firm ServicesATX 2014 ServerATX 2014 Backup Warning: ProgramData is a hidden folder. You have to change view Folder Options to see show hidden folders.

For all business clients, we print: BS for prior year end to check beginning balances. P&L BS General Ledger to scan for "issues" and equity transactions I've never printed a trial balance from QuickBooks. Not sure what I would need it for because BS & P&L has exact same info.

Not if they have inventory... or need a personal property return that includes a balance sheet.

I can stand for over an hour before my feet start aching. If I lost some weight, I could stand longer. I can usually stand 3-4 hours out of a 12 hour day. Every little bit helps! My core and legs are firmer for it.

Make it a hobby and amortized the startup costs. When you know he'll never make a profit, don't deduct the losses.

This is the next step, but damn it's expensive! http://www.beyondtheofficedoor.com/BTOD-VD-TMBU.php

Bought my desk at Beyond the Office Door. It was just under a grand. http://www.beyondtheofficedoor.com/Electric-Sit-to-Stand-Desk.php Just bought a new floor pad from Varidesk.com so I can stand longer. http://www.varidesk.com/ Versa Tables also makes sit to stand desks. http://www.versatables.com/promo/sit-to-stand.php

Just noticed last night that ATX is calculating the 22 cents per mile depreciation and recording it for the vehicle when you use the standard mileage. Nice!

Boo! I was going to say how pleased I was they were making solid donations. I see people with much higher AGI not making any donations, the cheapskates! Also, buying deductions is a losers games unless it's retirement contributions. He should def max out his 401K.

Life is too short for PITA clients. I would not quote a price. I would tell them they are not a good fit for my business and they should find another preparer.

Saw this on official forums: a manual refresh of the assets. Go to fixed assets and put the cursor in any cost or basis field. Hit Ctrl / Alt / Shift / 2 (2 not F2). A little circle will appear for a few seconds. This will clear off the old asset information from the forms.

In fixed assets, if you override the bus% to 0.001 it works. Edit: the % at the top.

Geez, so fixed assets says 0% but 4562 says 100%. Lovely. Do you just override the 4562 or put 1 business mile?

Just use the correct % for the final year and tell the client you can amend the past 3 years if they wish, and tell them their inattention to detail has cost the money over the years.

It works right on Sch C too. Where are you finding it not working right?

It works right in fixed assets.

I've never had occasion to enter zero business miles. And it sounds like the programmers never allowed for it, either.

Right from the IRS Audit Guide: Treas. Regs. § 1.183-1(e) provides that for purposes of IRC § 183, gross income includes the total of all gains from the sale, exchange or other disposition of property and all other gross receipts derived from such activity. It also provides that gross receipts from the activity may be reduced by cost of goods sold to determine gross income http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/IRC-183-Activities-Not-Engaged-in-For-Profit-ATG