Abby Normal

Yay!

I've been using the same Dell 24" monitors (3 of them) for about 10 years. They work fine but I'm sure new ones would be clearer. I'll get new ones when I get a new computer this year.

Beautiful! Congrats!

I think I'd just leave the Sch E if there are operating expense carryovers or passive loss carryovers. There's no downside to leaving the E.

To track the depreciation taken in ATX, just leave the asset in fixed assets, but make it unassigned. Might need to make business use % zero.

Unreal. I always encourage epayments.

Not sure which tax you're referring to. The estate might owe some estate tax. The parents should have been making annual gifts to all 11 heirs in the amount of the annual gift limit to both help the heirs and reduce the estate value. Parents could jointly gift 34,000 to each heir now, and to the heir's spouses or any other family members.

https://www.irs.gov/tax-professionals/practitioner-priority-service-r

Same.

For new clients, create a blank return with everything the way you want it. Duplicate this blank return to set up a new client. For existing clients, it should rollover.

You could just report this on the surviving spouse's return and respond to any notices with a copy of the 1099R. Or, if the withholding is close to the tax due, simply ignore it.

I'd say no, because you're just making them whole for the penalties and interest they paid/will pay, so it's not income to them.

Tax wise, It's not a big deal if there was one K1 for one spouse or two K1s split 50/50. The 1040 tax will be the same and there are no SE issues. This more of a divorce settlement issue. Who gets the corporation? This will be part of the overall property split (you get the corp, I get the house, etc.).

If we applied SS tax to ALL income, we could lower the rate. A lower SS tax rate would benefit low earners and small business immensely.

I had a very small broker and every year he'd remind to record the 10% cut to Schwab and I'd debit commission expense and credit sales without explaining to him that the bottom line is the same either way. He was happy and that's all that counts.

In addition to the big 3 agencies, you should also do freezes for: ChexSystems Innovis NCTUE I also have in IRS IP PIN. I got one as soon as they made them available for anyone who wanted one.

ATX has a place to enter estimated tax payments in this situation. It's part of the 1040 form. One of the last pages.

Stocks are intangibles and intangibles are not "goods."

They say it that way in rural MD as well. And the stuff you put on roads sounds more like tire.

As I'm fond of saying, we account for what actually happened, not what someone hoped had happened. There is zero basis for capitalizing past due real estate taxes in this situation.

Multi member or single member? Partnerships don't have to file if they have no activity.

You would actually make a lot more money per hour and enjoy your work a whole lot more.

That "accountant" doesn't even deserve to be called a bookkeeper. Sheesh!

Where did the money go? If it was deposited into the corporate bank account, it had to be accounted for somehow. Right? Or does this S corp not keep books?

https://aicpa.qualtrics.com/jfe/form/SV_aa5EQzeg1YWQ8uy I gave ATX some bad scores for not adding all the forms we need.