Catherine

The Declaration of Independence says it best: "...all men are created equal and are endowed by their Creator with certain unalienable (inseparable, inherent) Rights" and among these are life, liberty, and property (not in the first listing, but in the 2nd listing, a paragraph further down as well as in John Locke's 2nd Treatise on Government which has a much greater discussion of "property"). It goes on, "to secure these Rights, governments are instituted..." The places where poverty is at its worst is places where property rights (starting with the first piece of property you own; your own body) are not respected and where the government, instead of protecting rights, instead acts as a much nastier version of a schoolyard tough taking everyone's lunch money and enforcing his rule with a bunch of bullies at his beck and call. Changing our (or anyone's) taxation rules to further enrich those toughs will do absolutely *nothing* to reduce poverty in those countries. Start with respect for property, so the people have hope that working to better themselves will not make them targets of plunder. Work outward from there.

Excellent addendum, Michaelmars!

Amen to that!!

I have a half-dozen or so from whom I had heard *nothing* since extensions were filed -- not even email notes from reminders I sent in May. Three of them called yesterday and I told each of them to bring/send papers but that no work would be done until after the 15th. Two of these clients need independent contractor 1099-MISC's sent out... I have two left from whom I need bank info for payments, and signature forms, before filing. Otherwise done. A couple to whom I sent electronic review copies and got signatures and after today will get everything printed and mailed out to them. Our returns are usually the first done every year, as a test for the new software. This year I think they got delayed 'til early April for some late document (notice of a corrected statement to come? -sounds about right; there were lots of those this year, for scads of people). As for me, I am out of my office this afternoon with an accounting client and this evening for a twice-a-year meeting of the pistol league team captains and league officers. So if any of the remaining three call after noontime, they will get my voice mail.

My grandparents, who lived downstairs from us, were married for 46 sometimes tempestuous years (Italian tempers). After one of their not-terribly-rare scream-fests, I asked my grandmother if she had ever considered divorce. "Divorce?!?!" she exclaimed, looking aghast. "Divorce?!?!?!" "Never! Murder...."

I still have a half-dozen from whom I have *nothing* but an email from August-ish claiming they'll get me stuff within the week. Wish I had THAT kind of calendar! If they show up on Monday expecting me to pull out all stops I will be hard pressed not to laugh in their faces.

Government Shutdown Pickup Lines "I don't care what the Government says. You'll always be essential to me!" "Want to go back to my place and strip some legislation?" "Is that a debt ceiling in your pants or are you just happy to see me?" "If you're with me, under the Hastert rule, we can take this motion straight to the floor." "Hey, I just met you, and this is crazy, but I'm on furlough, so call me maybe?" "You must be laid off from the CDC because your smile is infectious." "If I were a congressman, I'd filibuster about you all night long." "What's really non-essential are these clothes we're wearing." "Where have you been sequestered all my life?" "Hey, my place is not government-operated, so it's still open." "Are you furloughnsome tonight?"

Congratulations -- WONDERFUL news!! Erasmus, the ancient Christian monk and philosopher, used to wish expectant mothers "that the child comes out as easily as it went in."

Tom -- see PM.

Not so much -- even if the 16th was repealed today, there would be ten years of work (collections statute) on folks not current. Then there is still plenty of work in accounting and bookkeeping -- plus state taxes on sales, incomes, etc. However, our time of listening to the endless muzak loop while our calls are on "ignore" would be diminished and eventually DONE.

Signed by Woodrow Wilson 100 years ago today. Story and analysis by ZeroHedge. http://www.zerohedge.com/news/2013-10-04/100th-anniversary-income-tax

Tom -- this is absolutely FABULOUS. Were I the alum interviewing him, and he came to me with an recommendation like the one you posted, I would recommend him in the strongest terms available. If you would like another take (as if you need it -- you should be busting your buttons with pride over this!) I would be happy to pass this along to a couple of classmates of mine who DO interview potential students for MIT (those who can't make it to Cambridge in person for interviews). Catherine

I really respect Jack's expertise in this area. My comments were specific to ME and to my practice. I did not see anything on the preview that specifically addressed areas where I had substantive issues last year (annoying ones, yes - substantive, no). CCH also dropped the ball a couple of different ways just getting me set up to beta-test -- and it took following Jack's specific advice to fix the final glitch. For me, for my practice, I simply cannot afford another season like last year. It was too hard on me, my family, my clients, and the rest of my life. To face that again or quit the tax field entirely -- I'd quit, and never look back. So for the 2013 tax year I will use Drake and hope that I hear nothing but rave reviews of how wonderful ATX 2013 is, so that I can come back for 2014.

That's about where I am, michaelmars. Everything I tested worked. Some was more cumbersome than it needed to be, and I wonder why they spent time and money in the effort of making fancier bells and whistles while there were so many systemic problems last year. What we were given to test did NOT address many of the areas where we all had SO many problems last year. Nor do we even have an indication that we can get through to tech support by phone, without going through customer no-service first (like last year) -- and that's before we even peek at the wait time issue. I will stick with Drake for 2013 taxes. I really prefer ATX -- but I can't trust them this year, and as a one-person shop with NO room in my practice for another software disaster like last year, I just don't see that I can afford the risk. Perhaps if I had seasonal help I could rely upon to take up some of the accounting slack and client interface work -- but my seasonal help is document handling only (scanning paperwork as it comes in and printing/collating/stapling finished returns). Another year like this past one is NOT worth enduring.

I'll be interested in seeing the "Preview results" -- to see if they mention anything resembling any of my voluminous comments, suggestions, and findings.

My daughter sent me this one -- a REAL voicemail from a Jack In The Box employee, calling in to his boss because he was held up in traffic. What happens next is priceless. For those skeptical of clicking on links, I clicked on it and all there is there is the voicemail -- and it's not auto-run; you have to click on it to start it. http://95rockfm.com/best-voicemail-giving-play-by-play-of-car-accident/

Yes!

I posted an article that discusses the issue you raised about it being "not PC to institutionalize" those who really need it. It's on a thread in the Political forum; you can search on my posts. Heinlein's character Valentine Michael Smith, in "Stranger In A Strange Land," points out that *everything* funny contains something that is inherently wrong, bad, or painful -- and that laughter is humanity's way of dealing with all the "wrongness" in life. So "jokes about someone's anguish and pain" are, frankly, what humor is all about. There were certainly jokes I heard tell/were told specifically to hurt or offend me, years ago, that were very painful to me at the time -- and now, with the pain more distant, I see the funny in them. We know people with schizophrenia ("bipolar" they call it today); the bipolar newsgroups have some incredibly pointed and VERY funny interchanges, all coming from places of pain.

I can say "Arrg!" and drink rum, so that must count for *something* -- and if'n it don't I'll be making ye walk the plank! Ye scurvy dog.

Thank you SO very much!

Not much in assets here; office is rented and there are a few desks and computers. What they actually bought was the "book of business" including corporation name and reputation, contacts, client and vendor lists.

I am SO very glad I posted this question here. I had used my tax research subscription and IRS dot gov search, and got absolutely nothing useful except that 1099-DIV Box 8 was not taxable (in two different references). That seemed very odd, but since that was all I could find, that was what I was going by. I have an inquiry to the client on how much they got in 2013 (I think it's all paid off now -- again, there was a holdback because of a delay in some weird license transfer that took months), and either split the basis of claim it all this year and use a zero basis next year. That might depend on which year got the biggest chunk of cash.

Thanks for the info; have been thinking of replacing my XP machine as it's been a little flaky lately.

So if I am understanding what jklcpa, KC, and michaelmars are saying... Even though the sale was fully reported *and* taxed at the corporate level (4797 gain on Line 9 of 1120 and capital gain on line 8 of 1120), it is also/still/additionally taxed at the personal level? As a Schedule D, to the extent of basis? If this is so -- then what do I do about the fact that the (former) shareholder only got about half the money in 2012? They held on to money past the end of 2012 into early 2013 because of some license transfer delay. It's a good thing I have a nasty headache today, as this return would be giving me one right about now. The current one, however, is bad enough that a little more is down in the noise level.