ed_accountant

I use voice stick which is similiar. It has been around as long as Vonage. I think the features are better. http://www.voicestick.com/ The residential plan is prepaid 1 Cent per minute with a minimum charge of $1 per month. I have been using for over a year. Their equipment is good. Plugs into a phone and directly into internet router box. Rings and dials like a normal phone. You do not have to have your computer on... Free voicemail and free phone forwarding..

http://www.youtube.com/watch?v=L9E_P6ui7Ow...feature=related Warning - adult viewing.... A client sent me this ...

I recall this happened last year, same exact issue. I waited until after 6pm and efiled everything without any issues.

Efiles are being rejected... Hopefully they fix the servers or volume decreases.

Can a 9 year old child claim her own personal exemption? Or are the parents required to claim her exemption since they support her. The parents have hit hard times and have zero taxable income. The child has partnership interest of 2400 of taxable income.

Hi, I have Corporate client asking me if this is correct: The corporation doing business primarily in California and other states hired Canadian resident who is using a Nevada PO box as his US address for payroll purposes however performs all the work in Canada from home. The Canadian employee reports the US income to Canada and files a US return and get taxes twice and Canada credit for the US taxes. Can the Canadian have the NV residency for US filing or should he be subject to California withholding? Any other issues? Doesnt this happen all the time with the retired folks that live in their RVs and travel accross the US having their mail forwarded to NV? Thanks

Save your time - Mail it in! Tell client cannot efile and Mail in old way..

You do not need to pass income especially if no cash was paid out. Usually, you pass income when income is distributed.

It is my opinion that you should not list your personal information such as your EFIN # on this board or any other public board... Thanks

This is a joke. Probably some April fools Joker... Wasting our precious TIME!!!!!!

He needs to wait for a k-1. He should contact the attorney and ask for a K-1. He can check with the secretary state regarding the LLC status. He cannot write off his investment until the LLC has been closed or out of business.

Thank you. The client used turbo tax not me... I did have the last year filing status completed but I did not have the taxpayers date of birth in the system. Line 9 will not cacluate unless you have the date of birth in the system and the taxpayer is older than 18. It is working now. Thank you for your help :)

Has anyone used this form 8801 in ATX? I have a new client who used Turbo tax in 2006 and had a minimum tax credit carryforward to 2007, form 8801. I input the #s into ATX and the form 8801 and it calculates it incorrectly. Line 9 on Form 8801 does not calculate. Has anyone else had Form 8801 issues?

Can you take Section 179 for used equipment that a business purchased? Thanks

Hi, I have a client with very profitable rentals and now has purchased a bed and breakfast where he now presides. He has invested large sums of money to remodel and make availabe for rent. The Bed & Breakfast has two bedrooms downstairs (600 Sq Ft) that the taxpayer uses as personal and three rooms upstairs (900 sq ft) that are for rental only. The B & B also has common areas (1500 sq ft) of a kitchen, living room and dining room. Any suggestions on how to allocate depreciation, utilities and other common expenses. Thanks :rolleyes:

The basis of this home is Mom's original cost of purchase plus improvements. Since, Mom gifted the house her cost basis goes to the recipients. Original cost basis divided 4 ways....

I recommend paycycle.com. I have been using paycyle for a couple of years now and it works well for small payroll clients. Paycycles pricing structure for accountants is also fair. Paycycle customer service is excellent. The electronic features are timesaving. I use to process payroll with Amerisoftware and have my clients make the tax deposits. Clients like paycycle's free direct deposit, free electronic tax deposits, and free E-filing.. I can't say anything positive about Accountantworld. It is privately held. I use to have my website with them and did not like the annual price increases with less services. I also did not like the sales calls I would receive from them pushing their other software ..

The trust should file a final 1041 and issue a final k-1 that distributes the gain to the beneficiary. The trust will not pay the gain. In the final year when all the trust holdings of the trust are distributed so is the income through the K-1. The trust has a mandatory filing of 1041 if there is income or sales greater than $600.

Well said. You are so right. Thank you!

I will be looking at other options, also. Presently, I use ATX and Lacerte pay per version. I have found ATX is very good for simple basic individual returns only. I am using ATX of over 90% of my individuals. I chose ATX for cost alone. I have used it for 6 years. I have found ATX is terrible for any type of business return. Forms are never ready and state returns often don't calculate. I always use Lacerte for all my business returns and for complex individuals. I always charge the extra cost to my client. Lacerte is very costly but always performs and I never have any issues. The program is great but very expensive. The presentation of the return and letter is exceptional. In the past I have used proseries and found that to be better than ATX but not as good as Lacerte. I am considering trying Proseries again since they have changed / reduced their pricing . ATx however has increased their pricing each year significantly.

I have prepared both a taxpayer and dependent's return. The taxpayer wants the dependent child's refund direct deposited back to his account. I am wondering if this will work since the taxpayer name will not match the bank account name nor will social securities match? Will this direct deposit go through? Does the IRS match bank account names to tax returns?

I agree with Jainen. I would pass on this and suggest that the client seek a tax attorney to appeal the Audit. I have handled many audits, but lately I only handle the ones for the returns that I prepare. I have found that the clients are never happy in the end of the audit. They usually end up oweing the IRS and owe accounting/audit fees to me.. They also are very time consuming and often cannot be fully billed to the client.. Good luck

We have one in Pleasanton, CA. I see the guy dressed as liberty tax waving a sign every morning now..... Looks very tacky.

Report on Schedule E.

Mail in the return to be certain..