BHoffman

Well, they can either be dumb or crooked but not both and expect to stay outta trouble for very long.....

That renal failure is heinous.  It is a long, slow decline.  

I prepare my next door neighbors' tax returns .  After this crappy day, I added a bottle of single malt to his bill.

I'll drink to that!  Seriously, unless the amounts eligible for expensing were able to be directly allocated I probably wouldn't try to list them for the home office.   Very hard to defend if questioned.

BTW:  I'm wondering how others are feeling about the Home Office Safe Harbor election?

I suffered a horrible bout of depression and body pain since 2011 that was recently resolved with an anti-depressant.  Through those bleak years, this little cat provided me with a lot of comfort.  For a time, I thought maybe we would just go together.  He meant so much to me.  No regrets.  His health was failing, and there was nothing in his immediate future except pain.  Chronic renal failure and a bad heart problem.  I didn't want to put him through the end stage.  He was feeling pretty bad for the last two days, and didn't pee at all last night or this morning.  That was it.  Thanks so much for listening.  

Well, crap.  My 18 year old cat took a turn for the worse today and we had to put him to sleep.  So much for the low stress

He was a great cat and an inspiration - brave and strong til the end.  He was a good friend and I will miss him.

Yes.  The goal this year is to have the least stressful and most profitable tax season ever.  So far, so good.

I fire clients who are obviously heading for divorce, and partnerships that are going South.  Those conflict of interest things are horrid.  You can get dragged into court.

For the first time ever, I am going to be relaxed about filing extensions this year.  

Magic 8 Ball.  Works every time

I would use 7 years.  

Rev. Proc. 84-35 or ask for the first time abatement.

Hi David - Still no 8832.  I think my advice above would still hold, and it sounds like they can choose.  Good luck! 

Now the theme song from "Leave it to Beaver" is stuck in my head because I'm thinking about Lumpy Rutherford.

There would be no way.  I wouldn't fork over a tax return to a client so that he can take it to another accountant to be reviewed.  Either they trust my work or they don't.  Any tax preparer can "find more deductions".   If the client is shopping for a lower tax bill, then they can do it without starting with my work.  Let them start from scratch with the original documents and see what some other accountant comes up with.

Although, you said they paid you so I guess after that the return belongs to them and they can do whatever they want with it. 

Ah, Spring!  When the post-it notes flutter in the breeze like butterflies

Also, there is no need to file form 8832 in any event since a MMLLC defaults to partnership treatment.

I saw this post earlier and have thought about it.  

You need to look at the Articles of Organization for the LLC and see whether H is the only member, or if W is also listed.

If H is the only member of the LLC, then Sch C is correct.  He cannot elect to be taxed as a partnership unless there is another member legally added to the LLC.

If H and W are listed as members of the LLC, then you can amend 2014 to remove Sch C and report on form 1065.  If they are both active in the business, I don't think the tax will change.

That's my two cents, and I'm giving you a bump

I have a terrible cold and it's GREAT!!!   Clients are pulling into the driveway and almost tossing envelopes of paperwork at me!  I cannot believe how much more work I'm getting done without all those appointments

11 hours ago, LouD said:

CA is one of the exceptions for claiming the credit for taxes in other states - so you have to take the credit for any AZ taxes paid on the CA return.

Yes it is!  See CA Schedule S.

I found this on the CA FTB website:  https://www.ftb.ca.gov/aboutFTB/newsroom/Mortgage_Debt_Relief_Law.shtml

Thanks!  I am taking it back to 2013.

Client has NOL in 2015 so I first carry that back to 2012, and if anything is left that carries back to 2013, and then 2014, right?

I'm confused about whether 2012 is the 1st preceding year or the 3rd preceding year.  

Thanks

See Arizona form 309 to claim a credit for taxes paid to another state. 

https://www.irs.gov/taxtopics/tc607.html