kcjenkins

No, tell them it means THE LLC does not have pay, but you have to pay for what the LLC makes.

Wish I could!

Did have one "Domestic Goddess" and one "Jack of All Trades". Not on the same return.

Depends, sometimes H/W [for housewife] have left it blank, sometimes Student [where appropriate], sometimes, if they have credentials and want to keep it, I leave their prior occupation, Nurse, for example.

Sch C Qualified performing artist. You are a qualified performing artist if you: Performed services in the performing arts as an employee for at least two employers during the tax year, Received from at least two of those employers wages of $200 or more per employer, Had allowable business expenses attributable to the performing arts of more than 10% of gross income from the performing arts, and Had adjusted gross income of $16,000 or less before deducting expenses as a performing artist. In addition, if you are married, you must file a joint return unless you lived apart from your spouse for all of the tax year. If you file a joint return, you must figure requirements (1), (2), and (3) separately for both you and your spouse. However, requirement (4) applies to the combined adjusted gross income of both you and your spouse. If you meet all the requirements, include any amounts attributable to performing-arts-related expenses in the section for Reservists and Performing Artists. Your performing-arts-related business expenses are deductible whether or not you itemize deductions.

And that rule is aimed specifically at the 'seasonal' business.

Me too, I realized I'd never thought about it either.

NOT POLITICAL, NOT RELIGIOUS, JUST SOMETING WE ALL NEED TO BE WARNED ABOUT

I agree with John, but if you must report it, the yes, use the incorrect balances that was reported on the 2012 tax return as starting balance and then report the difference needed to correctly report the 2013 balances as 'timing differences'.

INTERESTING, thanks for sharing that, I was especially impressed that they have set-ups for so many typical situations, Type of Business: Gas Station Auto Repair C-Store Gas & Store Gas & Repair That's a resource many of us might want to bookmark, just in case

LOL

Interesting to know.

Right. It's not the folks in the field, in most cases, that are the problem. Those of us who are 'old-timers' have known many fair, honest, hard-working, and principled auditors. But, just as a fish rots from the head down, if the corrupt people at the top are not dealt with fast, the corruption will spread down into the ranks, as more of the honest ones get fed up with it and leave, or get pushed out for not being "team players".

I totally agree with you on that, but it seems like recently those "idiots & knuckleheads doing dumb stuff" are the ones at the top, running the agency!

Here's the least expensive commercial program I found. http://www.myfleettools.com/MyFuelTax.htm Here's a link to a 'free' one http://www.iftaboss.com/

http://www.ehow.com/how_6861896_use-spreadsheet-calculate-ifta-hut.html This link has multiple ways, click on the blue > to see each of them.

I found this using google: Calculate IFTA in Microsoft Excel Enter the following column headers in the Excel spreadsheet from left to right: State, Mileage, Gallons, Fuel, Difference, Tax Paid, Tax Rate, Mile Tax, IFTA. Enter the abbreviations for the 48 states, one per row, in Column 1 (State). Enter the tax rate for each state from the IFTA Fuel Tax matrix, which can be found at IFTA's website. Be sure you are entering the correct rate for each state. Enter the formulas across row 2 under the correct column headings. Column E will be "Difference." Without typing the brackets enter the formula on row 2 exactly as it appears between brackets [=C4-D4]. Column I will be IFTA. Enter the formula on row 2 exactly as it appears between the brackets [=G4*E4] do not type the brackets. After entering both formulas, select the cell E2 (under Difference) until it is highlighted and hold down the left mouse button. With cell E2 highlighted hover the mouse until the cursor becomes a black cross. Continue to hold down the left mouse button to drag the formula down the column until it fills all the rows that contain a State, then release. Repeat for the formula in Column I (IFTA). Enter sample figures to test the accuracy of the formulas. You can find sample data to test your spreadsheet in the Resources section titled "IFTA Tax Data." Calculate Highway Use Tax (HUT) in Microsoft Excel Type the following column headers in Microsoft Excel: TAX, Additional Tax, Total Tax, Credits, and Balance Due. Be sure to type the headers in the correct order. Enter the formulas under the following headers in Row 2. Column C is Total Tax. Enter the formula on row 2 exactly as it appears between the brackets =A2+B2] do not type the brackets. Column E is Balance Due. Enter the formula on row 2 exactly as it appears between the brackets [ =C2-D2] do not type the brackets. Repeat the steps above for copying and pasting the formulas on subsequent rows. In this case the rows will likely be determined by the tax year. One row for each tax year. Enter the figures as follows: Tax due for the current year in Column 1 (Tax). This figure is normally entered on row 2 on Form 2290. Enter additional tax in Column 2 (Additional Tax). Total tax is calculated by the formula in Column 3 (Total Tax). Enter any credits in Column 4 (Credits). The balance due is calculated by the formula in Column 5 (Balance Due). Check your figures with a calculator for accuracy.

I'd feel a lot more sympathetic if they had not found money in their budget for those training videos and conferences. The Internal Revenue Service acknowledged that the agency spent tens of millions of dollars in recent years on conferences for thousands of its employees. http://www.washingtonpost.com/blogs/post-politics/wp/2013/06/01/irs-training-videos-spoof-star-trek-gilligans-island-and-cupid-shuffle/

That is how it is supposed to work, but did not in this case, even tho the estimated tax payment more than covered the taxes due. The executor and the preparer did just as they were supposed to do, they paid estimated tax to cover the 'worst case' tax bill, while delaying the actual filing not for any nefarious reason but waiting on determination of important legal issues. The IRS was not in any way harmed by the delay, because the estimated tax payment more than covered the taxes due.

OK, I use chrome, and have not cleaned my cache and cookies lately. Will do that now.

And if not due to above suggestions, probably because you did not click the '1040' tab? There are so many possible elections, you really need to narrow it down a bit to more easily find a specific one.

25% of $877,300 is $219,325. The decision seems crazy to me. The purpose of the penalty is supposed to be to protect the government. The government lost NOTHING in this case. I sure hope the decision is appealed, because it's a lousy one. And to go back to my topic heading, I find it outrageous that the IRS even applied the penalty in the first case, given the specific details. This is sheer extortion by force by our government.

But, it did not duplicate