Randall

Thanks.

Whew. Is this correct? Client, 26, Income $15,800. Single, no dependents. Worked at a job first 3 months that provided health insurance. No insurance the rest of the year. For her age, the lowest bronze and the 2nd lowest silver plans are low. Calculating a penalty of $71. 9/12 of the flat $95. Is this correct? Someone making that little to be subject to the penalty? The national average bronze is the $204/mo. For some reason, I thought that was the cost number we were going to use. But walking thru the form, worksheets and instructions, it appears that these lower premiums will kick in the penalty for much lower premium amounts.

I think there is also language in the new rules that larger amounts of repairs may still be considered repairs. Just because it's a higher dollar amount doesn't preclude it from being a repair. I don't have the reference handy but something about if the repair is expected to be incurred again within the life of the asset. And if the 2nd repair event does not actually occur, that doesn't mean the original repair was not a repair.

I have my settings to notify me but not to automatic install.

I don't think the AICPA can do any more now. Just wait like the rest of us.

Not really an answer to your question. But why is beneficiary lending money to the trust to pay for all this? How much is the home worth? How much is the mortgage? If trust owns the home but has no other assets or income, let the bank foreclose, evict the person. Hire a lawyer and see what their options are? How about the beneficiaries move in with him and crowd his lifestyle. Maybe he'll move then. Just wondering about the bizarre situation.

rfassett, I was thinking along those lines too. Unless something comes to my attention about the past, I'm assuming I did things correctly. I'll worry about a 3115 then. Going forward, I'll do the safe harbor election. Just did one before it got out the door.

Does anyone have a simple boiler plate 'policy' we can just print and give to the client to file and use as written documented procedures?

And you thought ACA was a pain. Rev Proc 2015-13 is 103 pages Rev Proc 2015-14 is 393 pages

I didn't know what I was doing. I paid a techie quite a few hours worth. I had two HDs set up on raid. After he couldn't help me, I just decided to opener her up and look at it. I unhooked the primary drive, started it up and it prompted me to do a check disk, then started up on the secondary drive. Up and running no problem. Then I just looked at the primary drive. Like I said earlier, I guessed at the type of connection I needed, ordered the cable, it didn't work, guessed again, and the 2nd one worked. Just plugged the cable into the old drive and the USB connection back around to the front of the computer and read it like an external HD. So even if I hadn't had the two HDs on raid, info on my first drive would not have been lost. This happened a few years back on my old XP machine. I had just gotten my new W7 machine at that time.

Looked back at my records when I bought a cable. I was guessing at what I needed. My first one was called Ultra USB to eSATA Adapter (ULT40396). This was the wrong one for me. My 2nd guess worked for me. It was called Sabrent USB 2.0 to IDE/SATA Cable for 2.5 inch/3.5 inch/5.25 inch Drive with Power Adapter (M501-1220). You'll have to identify your specific connection. Hope this helps.

You might be able to get a cable that connects to the hard drive on one end with a USB connection on the other. Plug it into the new computer and read it like an external hard drive. I don't know the specific name of the cable. You'll have to identify the connection of the hard drive that went into the old computer.

I use the import/export too. But the Backup files is in Program Data/CCH Small Firm Services/ATX 2014 Server/ATX 2014 Backup. Listen to Jack, don't mess with it. But I do copy it to external backup HD.

I'm glad to see the client name in the backup file names.

Anyone hear of Foxit PhantomPDF? It came free with my new HP computer. Not sure if it is a full app or limited version. I haven't really looked at it.

I use pdfFactory for my ATX pdf printing. Once in pdfFactory, I can click on Acrobat button and convert to Acrobat. I have Acrobat 11.

Margaret, thanks for the invite. Don't want to take the time now. Too much time to run the long distances. I'm good with what I'm doing. Hope to keep at it.

Great. I've always had to lay off during tax season. Never ran a full marathon, a few halves years ago. Now just the 10K on Thanksgiving Day in Cincinnati. Been fairly consistent for 38 years.

Whew. MFS or MFJ or find someone else to do your tax return.

This is probably the way of our society and it isn't getting better. The tech advances have been a double edged sword. Great tools but also greater for the business models to gouge and gouge us.

cbslee, This is in line with my previous thinking. So, by subjecting to Social Security and Medicare tax, there should not be risk of the penalty. However, if by doing this, the s shareholder (even if greater than 2% Jack?) can no longer deduct premiums on 1040, page 1, but only on Sch A. Is that also what you came away with?

But Jack, that seems to contradict earlier comments. If client is greater than 2% shareholder, S corp has more than one employee, there is no 'group plan', then I thought what everyone was saying that it must be in boxes 1,3 & 5.

I'm no longer thinking like Ringers. Not wanting to chance the distribution being considered reimbursement. Adding premiums to W2 subject to Social Security and Medicare tax. A related question. With premiums added to W2 subject to both income tax and employment taxes, the client continues to get the 1040 page 1 deduction. Is that correct? If so, the client will get a better deduction than Sch A medical deduction.

JohnH, that's the way I would handle it too. Just send them somewhere else. As for BulldogTom's reference, the original situation doesn't seem to apply but I'm not sure I understand the whole situation. The attorney's reference that it's done all the time seems questionable.

I check the box. It's only good for a year and for that year's return. I don't do 2848s.