MarkM

As a lifelong MA resident, I can tell you that without question, the must-see 4th of July event in New England is the Boston Pops Fireworks Spectacular on the Esplanande along the banks of the Charles River in Boston. It is an amazing event and one of the biggest (maybe the biggest) July 4th celebration in the country. However, it can be a zoo. There are literally hundreds of thousands of people that go to, and they are usually there all day. That being said, it is a great time and an absolutely amazing show. And if you want to make it even better, rent a boat (or find a friend with one) and watch it from the river. Looking out and seeing all the people on the banks of the river is one of the most surreal experiences you will ever have. Here is the website: http://www.july4th.org/ There are also some other great events depending on what part of New England you will be in. Boston Harborfest - http://www.bostonharborfest.com/ - It's more of an all-week thing than a one day event, but it's a great time if you are looking for stuff to do before and after July 4th. Bristol, RI July 4th Celebration - http://www.july4thbristolri.com/ - It's the oldest July 4th celebration in the country. It's not as big or as flashy as the Boston events, but it is a really fun time. In addition, there are local fireworks displays, clambakes and events all over New England, especially at the beaches (Newport, RI is also a great place to celebrate the 4th). But if you are looking for the truly can't-miss, once in a lifetime event, the Boston Pops Esplanade celebration would undoubtedly be way to go.

Sorry about that. The correct purchase price is $27,490. I don't know why he did this (actually, I don't know why anyone does trade-ins). I had another client that donated a company auto with a pretty high adjusted basis and took a bath on the difference between what the charity sold the care for and his adjusted basis.

My client traded in a 100% business use delivery truck for another delivery truck (which will also be 100% business use). Here are the numbers: FMV of new truck - $27,940 Rebate on new truck - $4,500 Trade-In value of old truck - $1,100 Adj basis of old truck - $2,785 I calculate the adjusted basis of the new truck at $24,675: FMV of new truck $27,490 + Adj basis of old truck 2,785 - Rebate on new truck (4,500) - Trade in value on old truck (1,100) Adj basis of new truck $24,675 Is this correct?

You're right Booger, and they probably don't.

Just checked the status of the MA Corporate Efile availability and it says the estimated release date is 2/22/08. Does ATX realize that corporate returns are due on 3/15?

Every year ATX is one of the last vendors to get forms approval for MA Corp Efile. MyATX doesn't even give a projected date for release (it is still stuck in PAT status). But the kicker is that MA Corp Efile is approved for ProFX. I was hoping that some of the ProFX fast-track approvals would trickle down to ATX, but obviously not. It is very frustrating to have corp returns prepared in ATX and ready to go but not be able to do anything because the Efile is not ready. And paper filing is not an option because MA corps are required to Efile.