kcjenkins

OK,you have me confused. Is it "a few hundred thousand" or is it "a few hundred dollars"?

I agree. We had a large office with a fridge/freezer, microwave, and still, it's hard during busy times to take the time to heat something up. Having something good and hot brought in that's not a pizza is just fantastic.

People do think "since it's all on computer, it should be ready in a day or two". They don't realize that the major cause of having to do 'corrections' is rushing and not taking time to cross check and verify addresses, etc. Not to mention the dreaded "Christmas bonus checks" that so often are a last minute idea that the owner did not bother to find out how to do them correctly, he just wrote a check, not part of the payroll, HE THOUGHT.

I recommend you DO send a 1099, with REFUSED in the space for the SSN/EIN.

Skittles are pure sugar, Nutrigrain Bars and and Reeses Minis are both better source of energy. I'd also suggest that everyone think about your client list, and consider something that helped me a lot. Not everyone has a client that can fit this, but I had two different clients who were cooks, who I worked out a barter deal with. Ivey brought me a hot, balanced meal for both Don and myself, once a week during Jan-Apr, things like chicken, or meatloaf, greens, and cornbread, or a great salad and homemade rolls. Diane did the same thing, on different days. Each of them got their tax return in exchange, plus one or two family members returns. Lord, those two were good cooks, and I loved that I never had to think about what I wanted on their days, they just surprised me. It started when my office was in the same building where they worked as cooks in the restaurant in the building. I ate there now and then, and loved Ivey's greens and cornbread, and when I told her that I wished I knew what days she made that, because I could make a meal off just that, she started bringing me some from time to time, and I'd pay her, then the next year she asked about trading for their tax returns. I got the occasional balanced hot meal from them for the next 16 years!

Works great for your own business, but harder to make clients do it that way. That is why I gave all my business clients a basic 'form letter' that I urged them to use with every sub, on the first check, informing them that unless or until they returned the enclosed W-9, filled out and signed, they would have 28% withheld from every check.

I did say AT LEAST. I myself would use your numbers or possibly higher, depending on what other gems they drop on me, but we do have some here who really do charge very low fees, and for them, I'm just hoping they follow at least my minimums, because it's only fair, and it does make it easier to put up with.

Venting is OK any time you need it. One of the great things about this board is that we help each other, not just with tax questions, although that is important. We also help when the walls close in, or the clients go nut! Karen, been there, wanted to scream at them, bit my tongue to keep from that, then Margaret posted something that made me laugh, and I was back in good spirits. Hang tough, Karen. And please, add at lest a few dollars to the bill of those who quote their lawyer, their friend, or their barber! At least $5, 10, and $15, respectively.

As Jack in Ohio is the recognized expert on the new program details here, I'd suggest you send him a Private Message and ask his advice. If, as a Newbie, you are not sure how to do that, look at the very top of the page, on the right, and to the left of your name you will see two icons. Click on the envelope icon, to get to the Messenger, it will be self explanatory from there.

And I believe that is really enough said on this. She was not 'forced off', but chose to go. Speculating on it serves no useful purpose.

http://qz.com/165716/how-i-made-sure-all-12-of-my-kids-could-pay-for-college-themselves/#! How I made sure all 12 of my kids could pay for college themselves By Francis L. Thompson January 12, 2014 Francis L. Thompson is an engineer at Northrop Grumman Corp. He led the teams that designed the first Direct TV satellites and missile defense satellites, as well as ground control for these systems. The Thompson family photo. Or Photoshop, since they haven't all been in the same place since 1998

I'm really disgusted at this year's tax prep ads. Especially the "Did you get married last year? If you can answer that...."

Or just send them to the Laundromat ! Bronx Laundromat Offers Tax Prep Services Bronx, N.Y. (January 13, 2014) By Michael Cohn A laundromat in the Bronx, N.Y., plans to offer tax prep services while New Yorkers wash their clothes. Starting this Wednesday, 1 Stop Bronx Laundromat will offer walk-in tax preparation from January 15 through April 25, 2014 between 8 am and 7 pm, even though the laundromat itself is open 24 hours a day for laundry services. Customers will be able to get a free wash and a $25 cash bonus upon acceptance of their electronic filing, according to the company. “We wanted to find a way to make tax preparation convenient and efficient, even fun,” said George Lora, managing director of Broadway Professional Services Inc. (BPSI), in a statement. “No one really wants to do their taxes, but if you combine tax prep while you’re already waiting for your clothes and add in a cash bonus, it’s a whole other experience.” The company said customers’ taxes will take between 30 to 45 minutes to prepare, about the time of a wash or dry cycle, provided customers bring the proper identification and the necessary paperwork. Taxes will be prepared by tax prep professionals, registered with the State of New York, with valid Preparer Tax Identification Numbers. Tax preparation charges will vary by customer based on the number of forms (1040, 1099, etc.). In addition to 1 Stop Bronx Laundromat on Willis Avenue, BPSI is also offering tax preparation at its Manhattan office. For more information, visit www.SudsAndTaxes.com . Don't you just love that name?

I always tell clients "if you do not have a signed W-9 already on file, you must withhold 28% from every payment." Usually, it only takes one such check for them to give you a number. I advise them to remind the sub that if he gets the form back quickly, the withholding can be cancelled, but only up to the point when the 941 is filed. If they wait till the payment has already been paid to the sub, they have little leverage, but still are required to pay in what should have been withheld. That expensive lesson will usually teach the client a never-forgotten lesson.

http://www.scribd.com/doc/199483490/Omnibus-Spending-Bill#download Hey, it's only 1,582-pages long. This spending bill will fund the entire federal government for FY 2014.

only the instructions themselves, plus personal experience Completing and Filing Form 941 Make entries on Form 941 as follows to enable accurate scanning and processing. Use 10-point Courier font (if possible) for all entries if you are typing or using a computer to complete your form. Portable Document Format (PDF) forms on IRS.gov have fillable fields with acceptable font specifications. Do not enter dollar signs and decimal points. Commas are optional. Enter dollars to the left of the preprinted decimal point and cents to the right of it. Leave blank any data field (except lines 1, 2, and 10) with a value of zero. Enter negative amounts using a minus sign (if possible). Otherwise, use parentheses. Enter your name and EIN on all pages and attachments. Staple multiple sheets in the upper left corner when filing.

Good point. FMV is always an estimate where there is no arms-length transaction, so unless you have other recent sales of similar properties, I would not consider a small discount to trigger a gift Of course, we don't know the $ amounts here, so if the 25% is a large amount, that could make a difference.

Judy, his limit is based on his annual compensation, so the fact that he put it all in the last quarter, while awkward, is legal, according to my reading of the rules.

OK, that makes thing clearer. I thought he was operating the farm for the trust, not for himself. So the 'compensation' issue is off the table, you just have a gift to him from the other benes.

Multitasking and Other Lies about Productivity January 14, 2014 By Natalia Autenrieth As the holidays recede in the rear-view mirror, many CPAs begin to observe a worrisome trend. The stack of paperwork on the corner of the desk, the number of emails in the inbox, and the items on the to-do list begin to expand as if by magic. It is a sign that the busy season is upon us, yet again. There is another early sign of the busy season, and that is a resurgence of productivity myths. They tend to raise their ugly head (or five) right around this time, preying on unsuspecting CPAs who just want to do better for their clients and families. Here are the five heads of the dragon, slayed one by one. 1. I must multitask to get it all done. Multitasking is dead, except no one has informed it, so it still shows up in job descriptions and on people’s resumes. It seems that the ability to handle several competing responsibilities simultaneously is a job (and life) requirement virtually everywhere. The reality, backed up by significant research, is that multitasking can do more damage than good because it requires one to juggle limited resources to complete each task successfully. As the tasks grow in complexity (and for CPAs, they start out complex and get worse from there), the juggling act takes on a life of its own, consuming significant willpower and mental space. What is a CPA to do? Handle the tasks one at a time. I know, it sounds ominous and counterintuitive. This is where the multitasking monster gets you: despite its claim to efficiency, it saps your resources, and results in more mistakes. The shortcut does not get you where you want to go. Instead of spending the processing capacity of your brain on the juggling act, you would be better served by taking a critical look at what you have to do, and whittling that down to a manageable size. 2. I must trudge through the slump, no matter what. This myth is persistent, in part because it seems to offer a way to use your mental game to prevail over nature. Never mind that I am exhausted; I must persevere and get through all of these documents/emails/meetings at any cost. It feels like you are doing the best for your clients and co-workers, except for one tiny detail. You are really not doing anyone any favors by working when you cannot see straight. Willpower and mental processing are your limited resources—and choosing to spend them on gluing your butt to the chair means that you don’t have them available for other things. Like a thoughtful review of a client proposal. Instead, take a break. A real break, which means that you actually detach from what you are working on, and allow yourself an opportunity to recharge. A nap would be best, although a walk can also work well. 3. I must get up early, or the day is wasted. The problem with the idea that waking up early is the only way to accomplish anything is the presumption that everyone is most productive and creative in the morning. Do you know any night people, of the variety that is best left undisturbed until 10 AM, who must be approached with care and gentle offerings of delicious caffeine until noon? Then you already know that you cannot force a person to be what they are not. Anyone can stand on his or her head occasionally, for a short time. No one can do it forever. A better approach? Work when you are typically most productive and creative. That is not the same as working when you feel like it—you may still need discipline and willpower to get you into that chair. However, if you choose the time when you are naturally your best, your day will be less of a struggle. 4. I must work more hours. More hours means getting more done, right? Well, not quite. There is a clear point of diminishing returns, and if you are really honest with yourself, you will see it too. When you know on a Wednesday that you will have to work on Saturday no matter what, do you feel inspired to get more done, or discouraged enough to slack off because your efforts are a drop in a bucket? Try measuring your efforts by the results, not the hours you put in. This is a dramatic change for many CPAs, with their traditional emphasis on hourly billing, coupled with an expectation that a busy season isn’t busy unless they are working 80 to 120 hours a week. It is unfortunate that few CPAs see the profoundly damaging effect of that mindset, which can include lower productivity, more mistakes, and a poorer quality of life. It can even lead to fewer new clients, as prospects might feel that you are too busy to take on anything new. 5. Nutrition and productivity are not related. Oh, the love affair between CPAs and a vending machine. They visit it frequently. They can recite its contents from memory. They feel genuinely hurt when the machine is out of a favorite treat. Close your eyes and picture a vending machine right now. No, really, please do. What do you see? Carbs. Fast-burning carbs that, unless combined with protein and fats, will only give you enough fuel for 30 minutes. Next time you are feeling at the end of your rope, exhausted, exasperated, and just generally done, think back to the last balanced meal you had. If it has been more than four hours, you have no one but yourself to blame for your sad state. For the love of everything that matters, please stop what you are doing and go eat some real food. At the end of the day, productivity is not a one-size-fits-all model, and nothing will replace self-awareness and some trial and error. What works best for you? In her professional lives across the United States, Natalia Autenrieth has audited Fortune 500 clients as part of a Big 4 team, built an accounting department as a controller of a large hospital, and served as a CPA consultant to municipalities. She continues to consult with and coach high-achieving CPAs for sustainable growth, helping them build highly profitable careers, avoid burn-out, and have more fun! Natalia lives in Southern California with her husband Doug who is an author, an executive coach, and a kung fu teacher, and their son Mason. They share a home with Tasha the German Shepherd, who is highly trained and exceptionally well behaved, and Kaya the Abyssinian cat, who is a frequent candidate for a one-way ticket to Siberia. Read more about her at www.NataliaAutenriethCPA.com .

Yes, isn't it fun how families, in such situations, just do "what seems fair" without asking for professional advice, then expect us to straighten it all out later? And often the Trust documents don't contain much help either.

You're welcome. It's always hard to see any form that has a normal positive value, with a negative, it just "looks wrong". But if it is, because of a situation such as yours, that's still "what it is", so that is what you report. May get a letter questioning it, but your explanation makes sense, so should be no problem.

"box 2 on the 4th quarter 941: $7,500 + $4,000 health insurance - $12,000" If box 2 is negative, it's negative. The 941's will total correctly.