Randall

Did you get touch monitors with the new W8 computer? If so, what brand, size, cost?

Why can't you load ATX 2012 on the W8 computer? I loaded it on my new laptop last year. I didn't use it much because I still did most of my work on my office computer W7. But I did do a few things and didn't have any problems.

Taxed: I said it might be 50% of the extra cost. Not sure what Parker cost but I think I would have to add another app for a forms package to cover things ATX has but Drake doesn't have. Not sure if that would add up to $900 or not. Then there's the familiarity I have with ATX. An early look at Drake tells me it's going to be a learning process. Then there's the concern (as discussed) with having a backup program. So if I'm going to spend another $900 anyway, I would view the other $900 worth it for the intangibles. Having both programs for the upcoming season gives me more time to see if ATX improves, learn Drake, compare the two. It's one thing to read others' post about a program and another thing to start using it yourself. So I don't look at it as spending an extra $1800 but maybe only an extra $900 (or maybe a little more). More and more people are commenting on having a backup program. This is making more sense to me with the tax laws changing so much and the program companies trying to keep up, buying and merging, cutting corners with their costs or their programming. We saw the results with ATX. I heard TaxWise was worse than ATX last year. There have been comments on the higher end programs too. Lacerte, ProSeries. I don't know the specifics. But their pricing is way too high for me. Even with both ATX and Drake, the cost is much lower than the high end programs.

Taxed: Not sure. It was under $1800 last year for the full package and early renewal. I'm hoping they'll offer some discounts later in the year for people to stay loyal. Not sure how much the fallout has hurt them. I recently received an offer to renew with a delayed payment but no discount. I'm not planning to make a decision until after Oct 15.

Yes, I'm becoming more of a believer on the backup plan. That's why I've been considering renewing with ATX even with purchasing Drake. Also, I think the additional local forms, and payroll and intelliconnect. I would have to purchase a couple of other programs, forms and tax research (Parker) or something like that to go along with Drake and I think that would be at least 50% of my extra cost anyway.

I attended a Drake seminar, got the 2012 demo. I have since purchased 2013. I am still considering renewing ATX and having both programs for the coming year. I just don't have the time to get into it right now. I plan to finish up 2012 and make a decision on ATX after Oct 15 but I think I'm going to go with both and have time to learn Drake and see if ATX is improved and make a comparison over time. I hate to spend the extra money but I think it might be worth it in the long run. I'm just a one person office so I don't have staff and workstations to consider.

Yes, a lot of people with big money are naïve. The celebrity types should have lots of handlers around them but they still have to agree and sign the papers.

Nothing's been done yet. Will be meeting with client and attorney soon. My first concern is losing step up basis by moving the property into an entity and out of the individual's name. Father is old and dying and children want the property sold and distribute the money. At least from my preliminary understanding.

He may have had all the advice but just didn't care. He probably wanted to keep it simple, give the money directly and not care about the tax.

Elderly man, no spouse. Will has everything going equally to children. Puts real estate in LLC, single member. Dies. Is LLC dissolved? Property to estate?. Step up basis to estate/beneficiaries? Puts real estate in a trust. Irrevocable grantor trust. Dies. Trust becomes irrevocable. Does trust get step up basis of property? Or is basis the grantor's basis when property is put in trust while grantor is still living? If they really just want to sell the property and distribute the money, why do a trust? Just keep property in Father's name or go with a single member LLC. Any comments on advantages or disadvantages? Randall J. Buys, CPA Erlanger, KY

I'm sure one side will convince the other side to change their views. Then we'll all be in agreement.

Not sure what's going on here. If LLC owns the assets, who owns the LLC. I think they can be donated following proper ownership trail. But I agree with accountant, if they are 100% depreciated, there's no basis left for a charitable deduction. So if he could sell them for something (having a gain on disposition), then donate money, he would get the charitable donation.

Thanks. I don't have a tablet but I have one note on my desktop, laptop and windows phone. I want to begin using it more. I'm beginning to use skydrive more too. Time is the big hang up in learning the tech stuff.

My biggest concern is that the grandparent is not fully aware of any aid and not aware of the parents receiving the education tax credits. These amounts must be deducted from the qualified education expenses before calculating how much of the earnings reported on the 1099-Q will or will not be taxable. Jack is right on trying to get any changes done. I don't see a problem with the grandparent receiving the money (then paying the ed exp) and receiving the 1099-Q. I just need the additional info to calculate the taxable portion, if any.

Grandparent contributed to 529 account with grandchild as student beneficiary. Grandparent received a distribution, paid college directly. 1099-Q sent to grandparent. Can the funds be paid directly to college in future and 1099-Q issued to student beneficiary? So far, I've only seen 1099-Qs issued to student beneficiaries. Grandparent doesn't want the money to go directly to grandchild to ensure money is paid to college.

Like Stephen Boyd said to Charlton Heston in Ben Hur: It goes on Judah, it goes on.

jasdlm on onenote: how do you use it? Off the cuff notes? how do you save? how do you file the note, label the folder, etc? I now have a win8 laptop and a windows os phone (in addition to office desktop W7). I'd like to be able to make notes on one, send to the others and have them in the file where I'll see them and have the reminder to myself.

I've only used it for notes to myself so I haven't tried printing it. I haven't done it on tax returns, more notes to myself, changes in client phone numbers, addresses, or notes to remind of things for the next year.

A related question: Anyone using OneNote much? I started using it but I'm still trying to get a methodology worked out to make it easy, quick and a good filing system put into related files.

I do it with Acrobat all the time. Should be an icon on top menu bar.

Signed up for a Drake seminar here locally next week. I think these questions have been discussed but as a heads up, I am wondering about: Does Drake cover all Fed and State forms that ATX has? Does Drake cover payroll forms (W2s, 941, etc, State & Local)? Local returns, forms? I think I'll need to look at a separate package. Tax research? With ATX, I have the Intelliconnect (not that I'm crazy about it). I think I'll need a separate package for this too? Parker comes to mind.

Yes, free sounds ridiculous. I would be interested in a new program which is basic to check out as a secondary program. Use it for some basic returns, follow it as it progresses in future years. Who knows, maybe another ATX in its beginnings. But I'm thinking the barriers for new entry are tougher these days.

I agree with janien about possible client mixup on rollover. Client may have thought he rolled it over but non-spouse beneficiaries are different. And I think there might be a direct transfer requirement for non-spouse beneficiaries so you'll have to follow the document trail.

I agree with Cathy. If inherited in 2011, first RMD was not due until 12/31/12. So you could probably just amend 2012. Best chance is to try to get penalties waived by IRS.

I'm a one person office and run a stand alone system. I too didn't have the major problems with ATX. But I haven't liked the slowness of the program for some years (and there were some other quirks). And this year, the slowness was unbearable. I'm leaning toward Drake but will wait until later this year to decide. But I really want more speed, being a one person office, I need it to be more efficient.