mcb39

Good luck with that. I have a gal, have had her for years, and she is just a delight to work with.

How lucky can we get?

I wasn't aware that an update to Windows 11 was even a possibility. My tech guru was just here last week.

In addition, I like the three licenses from Max as I have two locations that I can work from and one license on another computer for my assistant. As for this year, we have some really complicated returns who have not gotten all their information in yet. I am taking next week totally off.

I am keeping the full MAX for one more year at least. My husband and son are a Partnership and I am still training my assistant. I haven't found anything else that would fill all of my needs right now, although I want to start cutting back. I thought that the full Tax Act was enticing, but not enough of a savings to justify the stress and worry of learning a new program. I am getting tired, but hate to waste my knowledge. Family and friends are being wrapped up now after the rush is over (including my own). It's been a pleasure working with all of you.

Wisconsin changed their law for 2023 and in now allowing the $3000 deduction; the same as Federal.

It goes on the 1040, Other Income.......

I, personally, chase interest on short period CDs. It is fun and adds spendable cash to our meager retirement income. My tax and accounting business pays for itself and purchases the CDs. Win, win!

I have been having the same issues with a non-profit. Someone dropped the ball in 2022 and I am not qualified to fix it. I filed it in 23, but they came back with "that was the wrong form". This was just a small Horseshoe club. I sent them on their way. I don't have the time or the desire to figure this out.

I have a client who purposely has no Federal taxes withheld so that he can use the money all year. What part of "penalty" don't these people understand?

Double "YEAH!" to everything you both wrote.

I just had one of these this year. Her expenses far exceeded the LTC payments.

But, then, why won't they talk to some of us who might know the answers?

For my client who has not gotten his 2022 return yet and no word other than that it still being processed: I tried the Taxpayer Advocates; received no reply; After 46 minutes on hold with the PPS, I was told that they couldn't talk to me because "check the box" had expired. Client has finally sent in paperwork to State Senator. Will see if that goes anywhere. The IRS is so badly broken that I wonder how we can continue to move forward.

I have been with ATX MAX since its birth and will never change. That is a lot of years since 2005. It ofers everything I would ever need and then some.

Back in the day, I worked for an Accountant who used Turbo Tax big floppy disks. She had to pay extra for every single module. Efiling was barely heard of. We printed and printed and assembled and assembled. Once I started my own business and graduated (by force) to Sabre; I introduced her to the ATX products and she embraced the (Everything for the price of one). She happily continued with Max until she retired. We often question why people are willing to pay almost as much for Turbo Tax as we would charge them for a professional return. Sometimes we end up cleaning up the messes that they create. I have never gained a client by advertising. 276 returns for a small, in-home office isn't bad for "word of mouth" growth. Integrity and personal interest will win out every time and I sleep very well at night.

That could be correct, because in a Life Estate, the mother would no longer have a remainder interest.

If it truly became a Life Estate, it should be so noted and recorded on the deed. In a Life Estate, the mother would retain a remainder ownership until she passed. She would also be responsible for all expenses and taxes until she died. The gift tax return woud have been moot. I just had my first gift tax return this year. Seems we are never too old to learn something. I don't believe that Life Estates are any longer a legal option unless drafted before 2017. Then, it would be Grandfathered in. (This may only be true in WI. I have no further knowledge pertaining to other states.)

In the case of a Life Estate, the basis is stepped up to the value on date of death. Besides which, being an inheritance as well as a (gift), there are no tax repercussions unless there was a profit on value on date of death. The gift tax return was unnecessary at the time that the Life Estate was drawn up. In the case of a Life Estate, the property is not (gifted) until the date of death.

Calling is next to impossible and useless. My clients are also receiving weird letters with no explaination; just a Balance Due. For what, we say? The IRS is a mess. As for WI, not the case. I had a client receive 7 letters from them last Friday, all about the same subject, but in different format. Overkill in the other direction.

Because I have a vendetta against Intuit, I will never willingly purchase one of their products. I have never forgiven them for what they did to Parsons Tech; the program that I started with in 1992. Also, I see some of my clients struggling with and being limited to use of Quickbooks; which, IMO, is overkill and over priced. So says the person who knows that she should never hold a grudge. I have committed to Max for one more year and am moving on. And, yes, it does do the calculations for the WI OS form.

As I said, any activity that took place in Kentucky, is taxable to Kentucky, no matter where the taxpayer lived.

That box has always been there and I almost always check it, for whatever reason

The first question that comes to my mind was how long did he live on the farm and does it qualify for the main residence exemption. Of course, the business part will have to be separated, which further complicates things. WI will tax him as a part year resident and tax him on the income made in WI. A part year KY resident is taxed on all income from all sources while a Kentucky resident and on Kentucky-source income. Therefore, the entire sale gets taxed to KY. KY does have partial reciprocity with WI, but only for salaries and wages earned in WI. I think that I could prepare this return, but am glad that it is you rather than me. BTW, you have to be domiciled for more that 183 days in KY in order to be considered a Resident.

If she is a half time student, the rule as I understand it is that the tuition follows the exemption, no matter who paid it. I would tend to give it to the parents. Many times, we figure it both ways and let them decide who to give the credit to, and who benefits the most.