Catherine

My engagement letter states that I charge by the hour for any additional accounting and bookkeeping required to get the books in order. Track your time, and charge for every minute! _Plus_ the return cost. He'll either learn to add, pay up promptly, or go elsewhere next year. In all three cases you probably come out ahead.

You do like to make a ruckus, don't you, jainen? Where did I say that a bank _should_ care? I stated that they don't, and nothing else. The piece I don't understand is why the banks don't care about getting a decent price for a "toxic asset" and converting that asset from a near-complete liability into a zero-or-very-small written-off loss and move on. So many people I've dealt with have tried to buy houses on short sales for at or _above_ the outstanding loans -- and the bank can't be bothered to give permission. Many of those sales then fall through because the buyer needs a place to live and moves on to more amenable sellers after the expiration of the approval time. Were I a shareholder in some of these banking companies, I'd be putting up a royal stink about that.

I believe so -- and lots of times that 1099-C comes after the individual is no longer insolvent, so they end up paying tax on the cancelled debt. But there is no rushing the 1099-C. The banks just don't care. Just like they can't be bothered to approve a short sale and get the bad asset off their books.

Thanks to all for confirming my thoughts.

Rita -- have I mentioned recently that I love you?!?! I have a bunch of folks who are now on my brand-new "call at 6AM Saturday" list for next weekend.

Just got the paperwork from a client for his brother's estate/1041. Paperwork assigning TIN says "file Form 1041 by 06/15/2010". So should I use the 2010 version -- or go back to the 2009 version? TIA, Catherine

I got E&O insurance ~2004 and paid about $200/yr for $10K/$20K coverage, which slowly crept up to about $230/yr. This year, just to compare, I got a quote from the NAEA-deal folks and they said $500/yr for $100K/$250K coverage. My old company wanted $800+/yr for $100K/$200K coverage and their legal defense coverage wasn't as good either. It also covers claims going back to the original coverage date. While I don't have tons of assets to protect, I have some, and it doesn't take much to run up disgustingly high legal bills.So I jumped ship to the new company (Placer via Travelers or Travelers via Placer - whatever).

Days like this indeed -- I've been sitting here quietly going mad while working like the Furies. THANKS for the wonderful laugh; I SO needed it!! :spaz:

Thank you, Margaret!

Emailer (whom I told in mid-December that I _might_ be able to help him provided he got me ALL info before Christmas): I almost have my partnership papers ready to bring in. If I get them to you by Wednesday the 16th, can you have 2007 and 2008 ready by Tuesday the 22nd? The IRS guy says he won't wait anymore. Me: (nice letter formally withdrawing from any tax prep work).

I waited until last evening to submit, and today those returns are marked "Transmitted to Agency".

That's just horrid. Why don't they take the people trying to get blood out of turnips (e.g., two separate clients of mine, both out of work with NO assets, who owe some back tax) and put those agents to work on EITC fraud?! It would be a _much_ better ROI for the IRS and the country.

I like it, too -- but I note that no one called his office inquiring about him, either. He must have "kept to himself" at home, as well.

The IRS now has a special Identity Theft unit -- contact them. ID Theft - IRS

The North Dakota Department of Labor claimed a small Bismarck farmer was not paying proper wages to his help and sent an agent out to investigate. Department of Labor employee : I need a list of your employees and how much you pay them. Farmer : Well, there's my farm hand who's been with me for 3 years. I pay him $200 a week plus free room and board. Then there's the mentally challenged worker. He works about 18 hours every day and does about 90% of all the work around here. He makes about $10 per week, pays his own room and board, and I buy him a bottle of bourbon every Saturday night so he can cope with life. He also sleeps with my wife occasionally. Department of Labor employee : That's the guy I want to talk to...the mentally challenged one. Farmer : That would be me.

One of the chronic problems with ATX is the slow form approval -- and this year it is worse than usual, thanks to Congress.

From Ray Stevens; very cute. Juanita and the Kids

Be warned with QuickBooks that Intuit does NOT recommend running anything earlier than QB 2010 on a Windows 7 machine - especially the 64-bit machines. There's a whole KB article on it at the QB site. I've heard of major problems in other fora -- and then some folks who have no problems, too. But if you depend on being able to use earlier versions of QB, keep the old machine around or run those programs in XP emulation. Catherine

Umm -- the prior-year amount? Or the invoice? If the latter, the adjustments should show below and then be totaled at the bottom.

I'm letting my girls do their own returns -- on paper -- this year. Figure they should know how, and answering questions on TT isn't it.

No, I don't have that one. But I do have a _true story_ from long ago and the Providence RI police force, told to me by my old coach (formerly on the Providence police force) who knew the officer involved. The man was using wax bullets to practice in his basement, and wondered how hard they really hit. So he aimed at his own foot and pulled the trigger. Yes, he broke his foot. And no, his fellow officers never let him live it down.

It's been nasty here, too -- but not nearly as windy _this_ time (last blizzard came with 60mph-plus winds). Close to another foot (light and fluffy yesterday because it was COLD), and then sleet, rain for a while as a warm front went over us, and now freezing rain on top of it all as temperatures plummet with the warm front going back south of us. I'm cooking dinner _now_ so if we lose power with ice on power lines we will have had hot food.

Here is part one: Mini Cannon #1 and here is part two: Mini Cannon #2 only a couple minutes total

SO glad that you liked it. I just saw the topic line, and my imagination carried me off. Early February, around here, generally brings our heaviest snowfall storms (can you say "Blizzard of '78"). However, the days are getting longer and the sun has some warmth to it (when it's out, anyway). And in Cambridge Bay, Nunavut, Canada, they are now getting actual sunrise and sunset (9:30 am and 3:00 pm, respectively), and it's -22F, so it's a balmy mid-winter day for them with no warnings or advisories. Puts it in perspective, doesn't it? Catherine

The heady joy of hot summer days cruising around the yard, feeling like an essential part of the extended family. The agony of the unseen stone hurled against tender cutting blades. The angst of the long, lonely winters, wondering if it's been forgotten -- or if summer will ever come again. Oh, wait -- that's not the "life of a riding lawn mower" you were asking about. Phooey. Pulling myself back from the screenplay possibilities -- OK, yes, I agree. Seven year general purpose machinery.