kcjenkins

It's especially useful if you do both accelerate and delay. For example, you are doing some dental work, and it's going to run over two years in all, and if you pay it as you go, you will not have enough to deduct any of it, either year. If you start the work in Dec, but delay paying anything until Jan, [delay] and then pay the balance in Dec [accelerate] even though the work will not be finished until March of the next year, you get all the expense in one year, giving you at least some deduction that year. Of course, you need to plan this with the doctor, dentist, etc, so that they understand and agree, as you don't want to harm your credit just to get an itemized deduction one year. :D

Easy, in the Return Manager, click on the third tab, Tax Warehouse. Then cursor right until you find the column named Business [not net sales, which is for business returns] and then click on the top of that button twice, and it will sort all the returns by the size of the Sch C income. Then, if you want, you can select the ones which fit the income levels affected, by putting a check mark by them, and then either 'export' that marked list, which will give you an excel spreadsheet, or 'print' the marked list, which will give you a simple printed list. By the way, once you have marked all of the ones who qualify, you may want to click on 'marked' and then sort them back by name first, now that you have separated the ones you want. On yes, if you want farmers as well as Sch Cs, you will need to look a bit farther right to fine the column for Farm income. You can do this to prepare all kinds of lists, you know. All the Sch E filers, for example. All the clients with childcare. All the clients with .....well, you get the idea.

If the program does not see your F drive, the problem is not with the program but with the connection to the flash drive. Try clicking on My Computer, and looking to see if the flash drive shows there. If not, you may need to remove it and then plug it in again. If you do see it there, then click on it, and look to see if the ATX backup directory is there. It could be something as simple as you plugged in the wrong flash drive. If the directory is there, click on it, and you should see the files. If so, you know everything is set there. Go back to the desktop, be sure that you closed the ATX program, and then try again to use the backup/restore utility. When you do, be sure you are using the restore tab [top] and then browse to find the flash drive, and the directory on it. If that does not work, come back and tell us what happened.

It's extremely easy, Margaret. Just click on the Reply button, then right below the space to type your message, there is a section for Attachments. Click the button for Chose File, browse to your picture, and the software will attach it. That's how, for example, I attached this picture of Petunia Pig.

http://www.irs.gov/businesses/small/articl...=185704,00.html

And don't forget to at least attach one or two of your best pics here.

Marilyn, I have to disagree. She gets a step up in basis, and can depreciate the 'new' basis going forward, assuming the property has increased in value. Lucho is correct, he'd set up the inherited increase as a new asset.

Did you set up an ATX BkUp directory on the flash drive? if so, select that directory from the browse key, then it should show them, unless you accidentally selected the Restore tab at the top.

Yes, once it has business activity, it starts filing. LLCs do not have to file until they have activity, under federal tax code. States may vary on this.

I'm inclined to a middle road approach, lumping together small items of the type that are normally discarded when worn out, rather than sold, or that are low-value items [i.e. three microwave ovens, $150 vs listing each one at $50] but entering anything that is likely to be sold when replaced as a separate item.

A few days ago I was at the auto parts store when a blonde came in and asked for a seven-hundred-ten. No one had any clue what the part was -- even the manager. "Come on!" she said, exasperated. "Every car I've ever had has one! But mine fell off, and I need a new one." Finally, I stepped in. "Would it help to look under my hood, and you can point out what it is you want?" I asked. "Yes!" she exclaimed, and I led the blonde to my car with a parade of parts guys right behind. I opened the hood. "Is there a 710 on this car?" I asked. She pointed and said, "Of course, it's right there!" And here's what we saw:

What makes it even crazier is that someone actually wrote a bill that gives a larger 'pet' deduction than what you get for a child. http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3501:

Depends on which package you are buying. But I'd ask for the 10% discount on any package, if I were asking.

I agree with you, TR.

I would always assume that any allocation would be discussed with, and agreed to, by the client before I would ever use it.

OK, folks, I could not resist sharing this. I hope no one is insulted by it, it's just too darned cute not to share. I am not going to sign my name in case someone gets mad so you will not know who I am. OK? After all, I am only trying to help control the flu outbreak so consider this a public service announcement. Miss Beatrice, the church organist, was in her eighties and had never been married. She was admired for her sweetness and kindness to all. One afternoon the pastor came to call on her and she showed him into her quaint sitting room. She invited him to have a seat while she prepared tea. As he sat facing her old Hammond organ, the young minister noticed a cute glass bowl sitting on top of it. The bowl was filled with water, and in the water floated, of all things, a condom! When she returned with tea and scones, they began to chat. The pastor tried to stifle his curiosity about the bowl of water and its strange floater, but soon it got the better of him and he could no longer resist. 'Miss Beatrice', he said, 'I wonder if you would tell me about this?' Pointing to the bowl. 'Oh, yes,' she replied, 'Isn't it wonderful? I was walking through the Park a few months ago and I found this little package on the ground. The directions said to place it on the organ, keep it wet and that it would prevent the spread of disease. Do you know I haven't had the flu all winter."

Even if the seller does not use the same allocation, the worst that could happen, if [unlikely unless the amounts are huge] the return is audited, is that they would ask you how you arrived at the allocation. As long as your logic is reasonable, that should not be a problem. While it's always best to have this sort of thing spelled out in a sales contract, it's usually long after the sale that we get informed about it. So all we can do, when there is no paperwork, just a check and a handshake between the buyer and the seller, is form an allocation that makes sense, keep notes on why you arrived at those values, and go on. Seldom do you ever get asked. And only if it is clearly unreasonable will they deny it.

http://newsvote.bbc.co.uk/mpapps/pagetools...313678.stm?ad=1 Symantec says more than 40 million people have fallen victim to the "scareware" scam in the past 12 months.

Estimate, but do NOT put 'estimated' on the return. TR, all depreciation on purchased used assets is essentially 'estimated'. Any time your client buys multiple assets in a bulk purchase, you have to 'estimate' if the buyer and seller had not already 'estimated' what each item was worth. And it's no big deal, since you do know what he paid, and essentially what he purchased. Since he paid for inventory separately, and there is no land or real estate, you can basically say he bought "Furniture & Fixtures" and "Goodwill". So what you have to do is allocate to the F&F whatever seems reasonable, and then GW is the remainder.

Edward, I think D definitely does go too far. Even B seems a bit extreme, unless you have a large turnover and lots of new clients each year. Or do you do that to all clients, every year?

Sorry I missed wishing you a on your day, Catherine. Was traveling back for more treatments for hubby. Best wishes, anyway!!!

Have a very :bday:

Have a very :bday:

And remember, too, that the last estimated 07 payment, made in Jan 08, IS includable for 08.

That's Eric's area, not mine. But I agree, it should be an exausted, but happy, slightly insane smilie, preferably doing back flips!