ed_accountant

You should prepare the 1040 and Schedule E like you have in the past with the exception of filing form 568 to California. Form 568 will require the CA minimum tax of $800. Form 568, Schedule IW - LLC Income worksheet Line 2a is where you list the gross rental income. You will also need to complete the form 568 Single Member LLC information and consent and check the box form 540. Also, the rental should not be subject to S/E tax. Thanks

Very dissappointed to hear this! I am pissed. I renewed early and I was promised that taxworks would there the upcoming tax season. I repeatedly asked their salespeople on more than one occasions as they called me to renew early about taxworks contract and was assured is was in place for this upcoming tax season. I will not try their inferior beta tax program. I will not risk my business on unproven software. I called TRX this morning and their salespeople are saying they are in negotiation with Redgear and nothing will be settled until November. I am going to call back to talk to their sales manager, Karen Bills.

I renewed with the TRX Premium Tax Works. I was assured that Taxworks would available for next tax season. Taxworks has worked very well for my last 3 tax seasons. I am very satisfied with the Taxworks software. I did not use any bank products so I did not have any of the issues.

Not anymore. Check the IRS employer publications. Years ago there was a rule if exemptions were greater than 10 you would report it to the IRS but not anymore...

I am not have any of these problems with TRX Pro. The program has been working great. I have had no issues with efiling.... Everything has been working smooth. Good luck with the rest of tax season..

The corporation is responsible to send the K-1s to the shareholder. The IRS will not. The standard letter to the Corporation states "please distribute the K-1s to the shareholders". Print the K-1s to the shareholders and forward to the corporate to distribute to the shareholders...

I email a password protected pdf file. The purchased version of Acrobat allows you put a password on the pdf file. I always use the last 4 digits of the taxpayers social security #. I send pdf tax returns password protected via email and ussually remind them the password is the last 4 digits of their SS#. This has worked for me..

I had a similiar efile error in the CA program and your solution solved it. In order to generate the CA-8879 there must be a check in the box "Opt out of 1040 MeF (Federal and State) for this return" located at the top of the "EF" form. Thanks for sharing this information

I use CFS for my stand-alone 1099 / W2 program. $129 per year.. http://www.taxtools.com/products_w2.aspx I have been using this program for many years. It works good..

It sounds like this client has turned on you. I suggest that you cut-off contact and stop worrying about the client's tax liability and take care of yourself. If he is threatening to sue you, you can't keep him as a client.. You will save alot of time and be less stressed if you drop this client and discontinue working with him. Have you handled his audit for free? Are you helping him now for free? Your client got the benefits of all the refunds for all the years. I do not believe you will ever be liable for someone else's tax liability. You may be liable for the interest and penalties. You need to keep copies the records that he provided stating that he worked more than the 750 hours.. Good luck

I prefer checks and use paypal.com when they want to pay by credit. Paypal.com lets me send them an invoice from within paypal and they can click on it for payment. I pay no monthly fees but the transaction cost is 4% of the gross amount paid. It is becoming convenient to invoice someone in advance prior to mailing something or providing a service.

PK7, Are you an ATX User or a Tax preparer? I believe this board is for ATX users and tax preparers. You should seek the advise a qualified tax preparer in your local area.

If trx pro is tax works, yes you can customize the tax organizer. I have trx premium which is tax works. You should choose the expanded organizer. The expanded organizer will have the items that are missing. You can customize the organizer letter by closing the client lists and selecting: Settings / Custom letters

No, you cannot efile prior year returns. The IRS and states closeout efiling on 10/15 each year. You can only efile 2011 returns now.

The surviving spouse is required to take the RMD annually. The IRA will be taxable upon distribution..

My daughter had the same virus, Vista Antivirus 2012, I removed it by going to windows safemode and running the free version of Malawarebytes anti-malware. This removes the virus but the virus did damage to the registry file. I fixed the registry file by running the CCleaner utility, "fix registry".. Computer was back to normal.. This virus is running rampant in the download websites where people download and share files such as music and video..

Merry Christmas from CA!

I am dealing with the same issue. I am using CCleaner from ccleaner.com to remove it from the startup files. Ccleaner is free hard-drive utility to clear out all the old downloads and cookies. I have been using it for years. It also has some utilities such as the startup utility where you can remove or disable the startup files for the startup programs..

There is nothing special on the price. I was unsuccessful in negotiating the price. They are offering a $50 discount now. The net of discount $549 price is without the payroll subscription. http://proadvisor.intuit.com/ Special Offer! $599 $549/year or $799 $749 with Payroll

I received mine.. Loaded no problems..

I have been a member for years, but this year I am not renewing due to the price increase. The Renewal of the Quickbooks ProAdvisor Program is $549 plus sales tax.. And that includes their $50 discount.. I really dislike how they push all the clients to renew the software every year so you are forced buy quickbooks over and over again and again. I really dislike Intuit!! Does anyone get any value out of this pro-advisor program..? I may still renew now, since I would get two years of Quickbooks since they issue the software every November. I would get the 2012 version now and the 2013 in November... However, I am feeling I can get the Pro version on sale somewhere too.. Has anyone seen any deals on 2012 Quickbooks Pro?

I agree with Mike D. I am very happy with TaxWorks. The business programs and multi-state work much better than ATX ever did.. Happy Tax Season ahead!

Check this one out: http://www.depreciationworks.com/default.htm

I use Placer Insurance Agency underwritten by Traveler's insurance, 916-784-1008. My insurance limits are 100,000/250,000. I believe the cost to you will depend on your annual sales and experience. I would guess that a policy would cost you approximately $1000. Contact them for a quote.

If the bank will not correct / change the 1099, report the 1099 C on both returns. On the mother's return, report the 1099-C income but then reverse it out as such: 1099-C Income $120,603 Reported Elsewhere Social Security #_________ -120,603 Total 0 The son should then report the 1099 C income.