joanmcq

There's a 401(k) option there; check the box for calculate maximum & don't put anything on the line that says total contributions if less than maximum. Does the client have earnings?

I agree with KC. You have to ask more questions. His tax home doesn't necessarily change to PA.

These are low level seasonal employees. They work in the mail room, or maybe in data entry. Apparently they kept filing UE after they were hired back, or hired in the first place, and the state unemployment office didn't catch on. Fairly stupid too; they didn't think this would be caught? It doesn't say whether this was years of misfiling, or if it was for 2013 or 2014 UE.

I had the first one where I had to hit 'retry' three times before it was ok two days ago. Usually I hit retry once and the box closes.

If the property was sold directly after the rental period, it belongs on the 4797. If it was personal residence after it was a rental, then the sale is on the 8949/Sch D. You have to tweak the 4797.

There are no loans. A large portion of the purchase price is allocated to Goodwill. Only 20k is allocated to fixed assets. Does this change your response any?

I haven't done one yet in the new program, but in 2011 & prior years I had to do a manual entry on the 4797 to get the exclusion to deduct from the reported gain.

I am having a major brain fart. S-corp is buying convenience store & there are a bunch of escrow/purchase fees. Start up costs, since he will take over the operation of the store next week. Do I book as start up costs as an asset to be amortized on the actual books, or as an expense and make an adjustment on the M-2 for anything over $5000 in start up when doing the 2014 tax return?

I have gone years without calling tech support. If I had platinum software like Lion, I'd want that level of support too. But unlike a menu driven software, I find ATX input to be intuitive enough.

Take a look at the books & records before you make a decision or a quote. It might not be as bad as you think, or much worse.

Depends on the type of account. Most likely yes. And foreign trust reporting. Ugh.

That's what I do too. I've never filled out an FBAR for a client, just ask the questions and pass on the info. There is way too much exposure for my comfort level if completed incorrectly.

I saw nothing in the posts to indicate this was the same client. Might have worked before matching became much better. Yes, the IRS does match 5498s to the return.

I do not allow anyone to submit efiles except for me. The stakes are too high, an not just for your client's increase in tax from the inability to fund the SEP. You've filed a return without the signed 8879, and without the client having a chance to review the return, both no-nos. The client has a legitimate complaint, regardless of the amount of SEP contribution involved. If it was a 'nominal' contribution, say a few hundred dollars, John's suggestions might work. What if income drops in the upcoming year, and the client cannot contribute for 2014 what s/he could have for 2013/2014 if the return was extended? If you are going to continue to allow staff to submit the efiles, I'd revisit your processes to ensure this doesn't happen again.

The sellers are likely structuring this as an installment sale (if sold at a gain), or should be. Interest will be looked for on the return.

I wonder if some of these employees are on an installment plan. IRS employees are disciplined if they even file an extension, so I can't believe there are many out there with unpaid taxes. Not filing, not paying can result in losing your job; a result most of us don't have to face.

I've received nothing.

I do a lot of states so I've been getting one or the other every year. I actually like multi state returns!

I would have said, got the rest of your stuff, but your return is going on/ has already been put on extension. It will be finished sometime in May, after I get a much needed rest.

I'm in Sacramento, KC is in Modesto, about an hour & 1/2 south of Sac. Tom is in the South Bay. Stockton might be a good central location to meet.

I don't take the square feet that represents my closet in my home office either, even though I store a ton of stuff on top of the closet, but keep off season clothes in it. Don't include the bookshelves in the sq. ft you allocate to office.

....taking a rest after cleaning all day.

Extensions will reject if a return is already filed.

Hey, speaking of where we all live, how about we start planning a meet up for northern CA?

Mail them with the rejection. Then start the ID theft process.