mcb39

Also, if you are going to deduct sales tax, etc; be sure that those amounts are included in gross income. Yes, the unreimbursed partnership expenses should show up on the Sch E as a minus. Do they each have other forms of income such as W2 income? I don't see how they could start a business without any basis; even if they had to borrow the money to begin.

I updated two systems this morning. I always download from the web to the desktop, install and then reboot before opening the program. Not a single issue, but, again, I am stand alone.

I got it late today, but one of the returns I had open was pretty complicated. Also, I think as the day goes on, the resources are more strained. Probably wouldn't hurt to "reboot" around noon.

I was able to get about a weeks' worth of dishes washed. Also, prepared and finished several tax returns.

I consider it a vacation when I have a day with no or few appointments scheduled and the phone isn't ringing every fifteen minutes. I actually get some work done. Today is such a day. Tomorrow, back to Nuttsville!

Agree!!

I'll bet a hot fudge sundae.........with nuts!!! (Sure could go for one right now)

I was fine with three open, but when I brought in a Partnership, the program made me close the other two in order to work on the 1065. That was fine, because they had no relationship to each other.

My client got the Code 1 even though she never touched the money. She came in last night with the Code G 1099's. However, they are not marked "corrected"; so may trigger a CP in the future. In any case, she would be a good person to send out for collections because I have never seen a client able to get a changed 1099 that fast; if ever.

I have a client who just brought hers in this evening. The original ones were incorrectly coded and they said they sent her the new ones as electronic transfers. She said she had not signed up for electronic banking and wanted them by Friday or she was going to the BBB. She came in with 1099's in hand and correctly coded. One was a rollover of a traditional and the other was a rollover of a Roth. I was really surprised that she was able to get the paper, but would not have been comfortable without it.

I put it down at 50%. It is what it is.

I have a child of a client whose name is Anna Maria Gloria FXXXXXXXX AXXXXXXX. I have to file her as Gloria AXXXXXXX. So, one never knows what the rhyme or reason is. The first year, I had to play the "guessing game" with SSA.

OH NO!!!!!!!!!

I have three open at the moment as well as this board. I AM standalone, if that makes a difference.

I also use the Efile Manager. It just takes a few seconds to check the created, held, accepted, etc. Once they are accepted, they get a check box. I also create them when they are finished and hold them until the 8879 (and the money) has arrived. I am not going to be chasing anybody down for money this year. New Policy = No pay, No file!

My experience has been just the opposite. They pay what I charge and often give me a gift card for dinner, wine, flowers or a tip. Maybe I don't charge enough to begin with, but I am satisfied. My pro bono clients are not regular. They happen on a come as you are basis. If I feel they really need the help and cannot afford to pay for it, I will do it and expect nothing in return. My kids and grandkids never get charged. My friends and siblings always get charged, but it may not be the usual rate. Everything is relative to the situation at hand.

But this client has been rolling over from the prior year since 1999.

I have a few clients on whose tax returns I can only enter the initial of their first name and their entire last name because names are too long for the system to accept. Have been doing it that way for years and have never had a problem. As in J LXXXXXXXX and R LXXXXXXXX. If I remember correctly, these were the directions I was given by SSA.

Do they have a formal Partnership, or what? I would think that Dom would issue a 1099 Misc to Dommer for 70K. If they are both Sch C, Dommer can then report the expenses of the sale on his Sch C. My first reaction to this post was "HUH?"

Yes!!! I know wives who have to do that job.

I show the in and out.

None of us are crazy. It's the rest of the world!!!!!

I started keeping records in 1992 and, of course, had a loss. There are so many factors such as the cost of a computer then as compared to now. Also, like Joan, building clientele from family and friends to paying clients. Each successive year has been better and those days were so different that it is like apples and oranges. 2012 was my best year ever, with a slight drop in 2013. I haven't yet taken the time to figure out why. My business has always paid for itself as I never got a new piece of equipment unless my business could pay for it. That includes the 2012 addition to my OIH. Things are so different today. Do the best job you can do and word of mouth will grow your business to as much as you want it to be.

Try print page in the menu at the top; right next to print.

How about amending 2012?