kcjenkins

Yes, but how much difference does it make if you take it as an offset to the 529 distribution vs the Lifetime Learning Credit?

But think of all the money you'll save if you do!

That was my guess, LOL.

And one other advantage is that when you tell a procrastinating client, "Based on the partial info you have given me, you need to file an estimated payment of $$$$$", they often get busy rounding up that missing info. That's why I always advised making that call in the first week of April.

Yeah, I understand, it's clearly a calender related disorder that is common to our profession. I admit, I almost did not post that, because I knew you knew it. Then I remembered the date, and decided to post it anyway. Glad I did, now. Hang in there, this is one disease that clears up soon. 7-10 days from now, on average. LOL

How much difference does it make to their net tax?

Did you mean "divorce myself from the FIRM" ?

I've been through it, Pam, and totally understand. You will never regret taking the time to be with him while you still can. My prayers for you both will be continuing.

Questions to Ponder If a deaf kid swears, does his mother wash his hands with soap? If someone with multiple personalities threatens to kill himself, is it considered a hostage situation? Is there another word for synonym? Isn't a bit unnerving that doctors call what they do practice? When sign makers go on strike, is anything written on their signs? Where do forest rangers go to get away from it all? What do you do when you see an endangered animal that is eating an endangered plant? Is it possible to be totally partial? What's another word for thesaurus? When it rains, why don't sheep shrink? Why is the word abbreviation so long? When companies ship Styrofoam, what do they pack it in? Why isn't phonetic spelled the way it sounds? Why are there interstate freeways in Hawaii? Have you ever imagined a world with no hypothetical situations? How does the guy who drives the snowplow get to work? Why do they put Braille dots on the keypad of the drive-up ATM? Why is it that when we transport something by car, it's called shipment, but when we transport something by ship, it's called cargo?

Land should have been set up as a non-depreciable asset, so it would then be one of the assets sold, not an adjustment to the building.

That's great news. Relocating is always a real pain. I once had to move across the street [long story] and was amazed that even tho we sent a letter to all our clients, I lost some because they "could not find you". As they told me the next year when we moved back, and they did find me! Go figure!

Well, I'd say theft of cash is personal or business property depending on whether it was business cash or personal. If it was a mortgage on business property, then it would be business, if it was on his home, it would be personal.

Not me, but I often wanted to.

Sure Jack, we all [i am guessing] feel the desire to say that to some clients, now and then. Just not a 'nice' thing to do at the point where they just lost a loved one. And I would never suggest that the situation should cause anyone to let the client 'take advantage'. Full charge for the work, by all means.

Thanks for sharing the fix.

The 4852 covers you and the client, whether they did or did not file it.

Has this been reported and has the swindler been charged? Any chance of even partial recovery? I'm assuming you've already looked at Pub 547? You might consider using the optional safe harbor provided in Rev. Proc. 2009-20.

Yes, as Ron White said "You can't fix stupid". http://www.youtube.com/watch?v=fL6wbsGx9qw

No, a legal entity like an S Corp or LLC can and should have it's own EIN.

I prepare the return both ways, in that situation, and let the client decide, AFTER I explain the consequences, and we discuss what he/she knows about the spouse's circumstances, etc. .

http://www.whitehouse.gov/blog/2014/04/11/president-obama-and-vice-president-biden-s-2013-tax-returns http://www.whitehouse.gov/sites/default/files/image/2013_potus_tax_returns.pdf The President’s effective federal income tax rate is 20.4 percent.

I agree, it's really all you can do. You will eventually have to do the best you can, even if you have to use 'best estimate' on parts. But for now, extension. But no on Jack's note, no need to create extra stress on the grieving family.

A grandfather was delivering his grandchildren to their home one day when a fire truck zoomed past. Sitting in the front seat of the fire truck was a Dalmatian dog. The children started discussing the dog's duties. "They use him to keep crowds back," said one child. "No," said another. "He's just for good luck.." A third child brought the argument to a close."They use the dogs," she said firmly, "to find the fire hydrants."

Judy is spot-on on this