Tax Prep by Deb

So I finally did it, I am switching to Drake for 2018 from ATX. So far I'm figuring things out but have a couple of questions on depreciation. I was wondering if one of you could explain the steps to input a new asset? I struggled with this when I was doing one of their practice returns. In ATX we would put the description date placed in service and use drop down to select class and the program took over from there. Is this the same with Drake or do we have to tell it everything? My first several attempts were a failure, but I finally did something to populate it but have no clue what I did. Any help would be appreciated!

Well I just ordered drake after about 20 years with ATX. There is going to be a learning curve but there are features I really like. I'm doing their practice returns and I was about to pull my hair out when I finally found a detail tab that fixed everything for me. I'm looking forward to giving it a try.

One of my concerns is with security. How do these services differ from just using email?

I recently moved and my new home office is much smaller than previous. I have always had a separate fax machine and was able to set things up so that my office line and fax line were the same. Never had a problem. Since the move however I decided to use my Cannon all in one and everything works as it should however at times when I answer the phone and start talking about 30 seconds into the conversation the fax takes over. Starts out as a hit and miss thing then goes to every call coming in. Problem started when I bought a new phone system. Trying a different phone system now but was wondering if I can't make it work what you might suggest for an e-fax service. I am definitely not high volume but at times do fax several pages for clients. Any suggestions?

How difficult was it to set up the bitlocker? I want to use it but I am so afraid of messing something up.

Been there and done that. I loved Symantec, but to be honest I am scared of it. I do plan on using the one that came with Windows 10 just as soon as I can get some help setting it up.

What operating system? I had a problem with Windows 10 and Symantec. I was literally locked out of the computer! After several hundred dollars my tech guy was able to get me back but found that Symantec doesn't play good with Windows 10.

Actually CA now has a 4th. Board of equalization has been split in two. It's a real mess!

I had a client in a similar situation last year. I had her call IRS and when they pulled up her record they told her she was clear as far as their record was concerned. The state of California on the other hand wanted returns filed even though there was little owed. California goes after every single penny whereas IRS is a little more lenient.

Thank you all! That was the way I was leaning I just needed a little confirmation. I really see nothing changed except the age, however he was a full time student for half the year and lived with my client for the entire year.

Ok, I have a client who has been divorced from her husband for several years. Their divorce agreement allowed the husband (non Custodial Parent) the right to claim the dependent exemption every odd year. I filed her head of household and took the EIC as the son lived with her for more than half the year and was a full time student. Fast forward to 2017 and the child turned 19. He lived with his mom (my client) for over half the year, and was a full time student for the first 5 months of the year. My question is now that he is technically not a minor, can I still file her return that way. She is almost positive that the dad claimed him as a dependent on his return, and he did support him for this year, however he lived with his mom and attended college for the first 5 months. It's pretty clear that if he was under 18 it could be done this way, I'm just wondering if anything changed because he turned 19. Any thoughts would be greatly appreciated. Deb!

That's why this year when I met with my clients I gave them the heads up that their refund may not be any higher and warned them of the real possibility of it being less because of the change in withholding and tried my best to explain to them that they are receiving their refund now thru larger take home pay. I know there is still going to be some that don't get it, but those are the same people you find explaining the same thing over and over to them.

You will have to do a policy allocation that he and mom can agree on the % and then he will have to pay back his portion of the allocated subsidy because he is insured through his employer. You will have to refigure moms and have to decide if you will have to amend. Not an easy thing to do. I have had this for the last two years.

Ouch! Saw my mother fly off backwards off of the treadmill in my office and smacked herself good on the head right into my filing cabinet. Saw the whole thing in slow motion. Nothing broke just bruised all over. I told her if not carefull I will be accused of elder abuse which is way far from the truth, as I would do anything for her. Since then she has taken several more tumbles, which has us both a bit scared. We recently moved from our longtime home town to a big city and in the last 4 months she has tumbled twice. Again nothing broke just bruised and scraped and hurt ego but hopefully this is the last for this year. Take care and definitely go get checked out! You are far more i,important than your roof!

Oops I never got your pm just saw this and replied.

I am replying. Would like to know what.you do to secure clients data

Jack I also tried to PM you and got the message that you can't receive messages.

My computer did it all by itself and I have had zero problems so far. This is the only update that I haven't had an issue with. The first Creator update last year messed my computer up really bad, when it finally did install my print command is all wacky on certain programs. I have to find the offending file in the task manager and shut it down then it will work great until I close ATX and open it up again. Only problem is with ATX and my browser windows. This problem hasn't gotten any worse with subsequent updates, but it hasn't got any better either.

The portal is a way to safely exchange information. Yes it works in both directions. It also allows you to send for example a news letter to everyone you have set up on the portal at one time. When I got set up I was a given a very brief tutorial and help in getting it set up however there are many videos available that I'm sure we teach me more of what's available I just haven' had time to watch them. My move came on 1/27/18 so my only concern at that time was giving my clients an easy way to send me their stuff so I set it up on the fly. I hope after the dust settles to dig into it deeper and see what else I can do with it. There are options to customize it and I would like to check that out as well. You cannot sign thru it. The clint would have to printout the signature pages, sign it and then upload it back, but it's not that difficult. My clients who used it loved it. It's very similar to financing or refinancing a mortgage. When we bought our home in November everything was done thru a portal, I loved it!

Started with this year and I love it. The only con would be no provsion for electronic signature. Client still has to print out, sign and upload back. Cost is a bit expensive, it's around $550 but I moved to another city right at the start of tax season and honestly feel those I got to use it I will keep inspite of the move. Compared to my mailing costs this year due to the move I can see where I could recoup the cost easily if I can get more to use it. In fact if I could get more to use it I wouldn' have to commute 2 1/2 Yes each way so I would recoup the cost rapidly. Going to really push it this next year locking my price for all who do and raising for all who still want me to come to them. Hopefully that would move more. Works well with all file formats but for some reason if someone sent me a word document I couldn' open it. Other than that it is a matter of either scanning or taking a picture then uploading it. Real simple to use.

Gail is correct. Answer the question that you are allocating the policy and put his allocation at zero.

The SMLLC 568 can be efiled. I just did one and it was accepted. What you have to do though if you are sending it as a separate file, make sure you have a 1040 efile in the mix. My three times got rejected, called ATX support and this is what they had me do and it worked like a charm.

Just tried to e-file my first ever California form 568 for a SMLLC for a client and it rejected for the following reason: Your State submission does not match the latest published FTB Schema or is not well formed. You must contact your software provider to resolve this error. /CA-Return/CA-ReturnData Value: File Name: (submission number, I deleted for security reasons). Line Number: 1. Position: 11532. Reason: The 'softwareId' attribute is invalid - The value '' is invalid according to its datatype 'http://www.irs.gov/efile:SoftwareIdType' - The Pattern constraint failed. Anybody no what to do about this? Is it something I've done wrong?

Would agree with most accept he took his employers insurance and was included on his parents with the advance credit calculated on the full policy. So he would be ineligible for the credit.

I have a family that I prepare all members of the families tax returns. Mom and dad went to market place to get insurance and had a family policy of 4 on it. The problem is one of the kids is not a dependent on their return and in addition works for a company that provides health insurance for him. Am I wrong in saying that because he already has coverage that he is not entitled to the subsidy for the portion of his policy under his parents of which he not a dependent?