DevM

In NJ the Sales tax on gasoline is collected and paid by the distributor and are included in the invoice price, so the Retailers do not pay any sales tax. it depends on the state.

what is the octane on the plus, Regular and Premium. If Regular is 87 octane and premium is 91 and if the plus is 89 than the mixture is most likely 65 % Regular and 35 % Super (that is the minimum you can have) and the max is 60% Regular and 40 % super. If the client does not know, I would more likely to go with 60/40 as it is branded gasoline. Does he get all BP gas loads or does BP mixes with other brand loads.

It varies by brand. Some have 65/35 and some have 63/37. I do not have any BP clients. Hope sone one answers or the client will need to ask the District rep/manager.

Judy, I always get monthly / qtrly and or annual statement from the supplier for the purchase. Add the difference between electronic debit and the statement to sales and offset to purchase. Some electronic debits also include other fees (i.e. Rent, Merchant Fees.. etc) and those are one time fees on a monthly basis. I agree with you about payables as some are COD/next day/3days and so on credit basis, but the statements have a purchse dates on them with the load (gallons) and Total Invoice price. so I don't ask the clients for purchase invoices.

FIFO for the Inventory. Take the last Invoice price and End inventory from POS system. I have quite a few Gas station clients here in NJ and PA. PM me if you have any questions.

Here in NJ it is 65/35 (i.e. 65% Regular an 35% premium/super) would make it a Plus. Maybe you should check with your client about the mixture.

I released all arond 7pm EST and tranmitted.

As a Prt-time gig working from Home with wife helping with input completed about 280+ Individual, 48 Corps and about 90 Partnerships..(including 15 Ext). Thank you every one for the great advice and the answers you all give during the season. I have been doing this for about 18year and still learn every day from this place.

LLC is responsible for the withholding.. It should be paid when K1 is generated at the time of filing 1065.

Go to Asset Global Settings >>Bonus Election on left. This will change only for this client..

I have already done about 30 Partnership returns and have had no issues.

Once the 1040 is open, goto Return > Import data > K1.

Jack, I would really appreciate your results. [email protected] Thank you for sharing.

I had one where the State WC audit was performed of a NY Client. Asked the auditor to come to my office in NJ and was completed in my office. NO payroll was run as there were no employees. His take was that if business was conducted a minimum payroll must be run and was charged SUI / SDI for the qtr.

My practice consists for over 400 returns (60% personal & 40 % Business entities ) incuding 1120, 1120s and 1065. I have been speaking to Proseries and have price with 60% discount for unlmited personal and business efiles with all states until 2017.

Does any one know when Form 1116 will be available for efiling..?

I am not having any issues. I hav semi-completed 5 1120S / 1065 so far and gone to shareholder details without any issues.

Joan, Actually it is "Admin"

Once updated you also need to run Netsetup on each workstation. I have same setup as you (Server running 2008 and 3 workstations running Win 7) Each time I do update on the server then run Netsetup (Especially with Program Updates) and haven't had any issues sofar.

I don't think you can customize the cover sheet that I know of. The only other way I may suggest is to use Blank Template and customize it.

The difference between Backup method and Export / Import method is that with Backup method you are able to get efile info also. Export / Import method will not carry over efile info.

I downloaded the program (saved it to desktop) and Ran from there. Running Server 2008 with 3 workstations (all Win 7 64bit). Server has 6gb, Workstation has 8GB ram. Program have improved leaps and bound but still not fast as 2011. Program open time 25 Sec. Input USERID / PW.. 4Sec another 3 sec to open the program. Basic 104 open time 15sec. LLC/ Partnership open time 29 sec. 1120S with One state open time 18 Sec. Overall lot better than before.

Update the program by downloading and RUN. Forms update is working fine within the program. If you are in a network enviroment you should run Netsetup again. After update rollover and Program open is a little faster. Opening the return is much better than before. Opening a return is now 1.3 mins while before it was close to 3 mins.

Yes. Save is a better option. Run after you download. It took less than 3mins to download and another 1 min to run the update.

I just got it too from IRS. Already have clients calling to finish their Tax Returns so that their childer can file FAFSA..What a pity that the students can't file FAFSA..