RoyDaleOne

Well, I got it last year and installed the program. My, and note, this is just my impression of the program, and I have used computer depreciation since before the IBM computer and various forms of lapings schedule before that, maybe ten difference depreciation programs. This was the worst of the bunch. This is my personal opinion. I renewed another program for $700.00 that only does depreciation and related tasks.

http://www.irs.gov/businesses/article/0,,id=134671,00.html http://www.irs.gov/businesses/article/0,,id=134122,00.html For your information. Check out what is and what is not Section 1245. Note that dropped ceilings is 1245 property, even if attached to the building. The reasons for one classification or the other is not easy to see. Just as the reason it is a repair or not is somethings difficult to see.

Well, Form 4797 is used to report the sale of business property and I would guess you are doing a non-profit, and possibly by definition does not have business property. Now for a caveat, this may not be a complete answer and is not intent to be a complete dissertation on the matter.

To expense it could be a repair. If it does not extend the useful life of the structure and it is not part of a "major" remodel then the items are eligible for categorizing as repairs. Most roof repairs can be expensed as an example.

* 5-YEAR PROPERTY. This class includes computers and peripheral equipment, office machinery (typewriters, calculators, copiers, etc.), automobiles, and light trucks. This class also includes appliances, carpeting, furniture, etc., used in a residential rental real estate activity.

Well, I think, for sure, is that you will not read any software licensing agreement if you plan on purchasing the software. The ATX(CCH) agreement for 2007 is interesting.

I am still waiting on programs that were included in my purchase last year, and , and note this, I was informed that I would have the programs for use doing the 2008 tax season. Still waiting..... I ordered the total tax and accounting bundle. Including, all federal, all states, Kleinrock, write-up with T/B and payroll, document manager, unlimited e-filing, and depreciation, all three users versions. I already had the ATX write/up good until December 2008, (by the way no credit for this on purchase). The depreciation program was single user and can not run on on a network, and wasn't worth the effort to use.. You could do only 2007 depreciation, slow input, no calculation for prior years, etc. I have a couple of client with 500 plus assets and multiple locations. I tried to use the program, but gave up, only because of the total lack of a reasonable implementation in the program. Yes, I sent my complaints to ATX. I purchased two scanners for use with the document manager, again, the same problems, single user, no net-work. When I think about scanning documents, during tax season, that is a task that can be assigned to say an intern. Do you want your best tax preparer running the scanner during tax season? Networking and multiple user is an absolute must for this type of application, in my opinion.

I used an HP4si and now have a HP5si. I wanted a new printer so I purchased two backup printers. Knowing I would used them, alas, the old printer just won't died and I love it so. It is quick and reliable.

I feel I need to get paid for doing CCH's research. My point is if they don't how to write a good program with great features why are they asking me to take my time (read money) and help them. The last time I did one of those survey (in depth) I made 24 suggestions. 23 of the suggestion were implemented. Now, I know I was not the only one making the suggestions. The program was sure nice for one year. Why one year? The Company sold out.... I sell knowledge, and I see a benefit to me if I help with the program, however, without some assurances that: 1. The suggestion well seriously be considered. 2. The ATX program well survive. 3. And the programmers that CCH has put in charge of product design are removed. This is a huge complain of mine. So, I am not doing the survey.

I agree that a forms based approach is slower. for one thing the graphics slow down the screen refresh. Hard to beat a text based heads down approach for speed.

When you do the following is it not using your professional judgment? "Not entirely. For tangible personal property, you must first look at the NAICS classes, which is exceedingly objective. Only if you don't find the match there, can you consider other factors." I mean if i trade an F-150 on an F-150 do I really need to look at the NAICS classes, mostly likely not. And if I look at the classes, do I not still make a judgment as to which class an item belongs? No tits on a bull around here. LOL Besides read the posting you will see that the original poster had make a decision that the items were not like-kind and I was commenting that I could not help in that decision.

As previously stated legal fees follow the "Cause of Action". I would check on this one very carefully because, as a general rule, the defense of criminal acts are non-deductible (think traffic fines such as over weight ones) however, there are tort actions for this as well. The general rule is this would be deductible because it arose in and is associated with a business activity or event.

You have a taxable exchange, therefore you treat the exchange as a sale and purchase. FMV for the sale, not necssarily the trade-in value because a lot of times this value is inflated and does not reflect the true FMV. The new item is the cash plus the FMV of the old item. As far as the items not being like-kind, that, is up to your professional judgment. The IRS has some guidance on its web site www.irs.gov.

"Like kind exchanges" include trading one vehicle on/for another for another vehicle. The only point maybe this is not a like-kind exchange. Your explanation is not clear enough, that is saying an RV was traded on an RV. If an RV was treated on a towed camper, I would guess that the items are not a like-kind subject to the exchange rules. The exchange rules are mandatory not optional. And, all like-exchanges including vehicles are to be report on 8824. See the instruction to the 8824

No. however I have used "money" to solely track captain gains and losses. It does a great job at tracking investments and the resulting gains and losses.

Yes and depreciation schedule.

I think your customer is correct. Goodwill, trade name, etc. capital gains on sale.

Unless, he provides significant services it is rental of tangible personal property, a passive activity. Split using mileage. My comments only.

There is no Florida income tax and mostly no Florida estate tax for your client. Nothing to do but Federal taxes.

Have them file separately, and only one report the sale. If this is legal. Ask for an installment plan to pay the tax.

Do you not think that the decision, by the Company, to do this, do that, move here, promise this, etc, reflects upon the Company's understanding of the "business" it is in and how to manage that business to provide that same or greater customer satisfaction?

Did the prior year return have a 2210? I checked on one of mine that a had 2210 in the prior year and the amounts rolled over. I did not check one without a 2210 in prior year, because I have had the same feature question.

Amounts paid for bodily injury generally are not taxable. Code Sec. 104. Compensation for injuries or sickness -------------------------------------------------------------------------------- (a) IN GENERAL Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) for any prior taxable year, gross income does not include-- (1) amounts received under workmen's compensation acts as compensation for personal injuries or sickness; (2) the amount of any damages (other than punitive damages) received (whether by suit or agreement and whether as lump sums or as periodic payments) on account of personal physical injuries or physical sickness;

A small question you. Did you or more correctly CCH make a donation to help support this web site?

Sometimes, exchanges are not taxed, sometimes exchanges are taxed.