kcjenkins

:bday:

No reason not to input it, since it will only show up if you add a 2484 to a return. But if you do, it saves you having to enter the info.

Since you did not put your location into your profile, I don't know where you are located. But it depends on when the corp was started as to whether it's too late to elect 1120 S status, which is probably how they should go. Given the new easy 'late election' rules, it may be possible. Either they could form a partnership with the corp as a partner, or they could buy into the corp, but either way, if they are a corp or an S corp, they need to do payroll for anyone who works in the business. I'd suggest that they should talk this situation over with an attorney, because there are a lot of issues besides tax ones involved here. Acting first and getting professional advice second is going to cost them all trouble, that much is sure.

I agree, this is 'earned income', and it will qualify. In fact, if you think about it, you 'earn' it not just by your past efforts, but by remaining 'available', whether or not they actually do call on you during that period.

#3 Sell the van, at FMV, to the corp, and let the corp pay the expenses and deduct them.

I do NOT consider this to be SPAM, Jack. It's a genuine offer, made only to members of this board, primarily because we are 'old friends' with the people who set up this support business. I think it should be considered in that light. I have added the 'NT' designation to the topic title, Bill, as you suggested.

Clearly, you and Kerry are both 'hotties'!

here is the picture, if it will upload. If you can't see it, you can always go to taxproexchange and see it in my pictures there.

I happened to come across that picture just the other day, Kyle. Are you in that picture? Which one? Of course, if I call I'd have to call Kerry, you know...... He's been my buddy longer than anyone else. :D

Since Feb. 28 is a Saturday, the deadline for filing 2008 returns normally due that day is extended to March 2. This includes: Form W-2, Wage and Tax Statement (for wages paid to employees) Form 1099-MISC, Miscellaneous Income (for payments made in the course of a trade or business to nonemployees) Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips Electronic filers have until March 31 to file these returns

Done. I may be calling on you guys soon, as my computer has been giving me real pains this week.

Well, I'd certainly take the first draws as repayments of his contributions, then your salary gets into a more reasonable area. Also, I would not take any salary that put him into a loss. And if you can get the salary into the current quarter, that would be great. But it's what it is, so you are right to tell him that's the way it has to be treated. No need to make his problem into your problem.

I'm wondering about that fiscal year for an S corp, myself. But if this is the first year of business, delaying his 'salary' could be easily defended for that first year. Especially if you get him onto payroll going forward. While he is, by definition, an 'employee', he can be a $1 a year employee until the business is established and profitable. Of course, if he's making buckets of money, and pulling out significant draws, then you do need to get him some salary into the last quarter of this calender year, at least.

I think one of the major issues is with the peripheral hardware. If you have a significant number of good working, satisfactory for your needs, printers, scanners, etc that might not work with Vista, then you might be smart to avoid Vista. The major thing I see is that most of the improvements of Vista are aimed at the entertainment uses of the computer, rather than it's business uses. Hard to justify updating the entire office equipment to accommodate a new OS that is not going to give me significant improvements in the features that I will actually be using. I'd also be hesitant if you have several computers networked, as Vista may or may not connect well with XP machines Unless you are upgrading all of your computers, that could be a real issue for you. I understand most of the connection issues are with Vista Home, which should probably be avoided anyway. But I've heard of problems even with the higher versions interacting with older machines.

Well, I don't know if it is permanent or not, but the Official ATX Community board is down today. When you try to go there, it kicks you back to the MyATX Support home board. Wonder if they are doing maintenance, or just killed it again?

Taxbilly, I edited your post to fix those emoticons that showed up shows up as a big grin when you type a Capital B followed by a ) so if you are copying tax cites, the best thing to do is to turn off the emoticons. That is also what changes a Capital C followed by a ) into the copyright symbol. You can also avoid the conversion by putting a space between the C and the ). (C ) instead of ©

Go to the KB and check out Document ID 21286 , hopefully that will solve the problem.

http://www.oktax.state.ok.us/publicat/03whpkt.pdf

I just hope that they keep on ignoring us here. You never know when some corporate lawyer will decide that our name is an infringment, etc.

And you can use that method on any column, of course. And then, if you want to print the list, just select those clients and select Report.

Joel, I suggest you use a password you can remember, followed by 12 now, change the last two numbers only in Jan to 01. then 02 in Feb, etc.

I did that last week. Not much activity there, it seems.

Now I'm going to have to open another box of tissues!

If the problem you are having is that when you open the program it tells you you need to update, then it closes when you click on Update, read th KB Doc # 26879. You can also check first, by going to your Control Panel, Add-Remove Programs, and check to see if you have .NET Framework 2.0 installed. If you have it, it may have a problem. If you don't have it, the solution is easy. You just need to install the program, which you can find on the CD or can get from MS updates.

Brian, so glad to see you finally decided to join us here! I missed you.