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Yardley CPA

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About Yardley CPA

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    ATX Master

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  1. Just wondering what happened when you called the IRS. How did they respond to the information you provided them?
  2. What do you mean by "using ATX to efile estimated tax payments? Electronically through the 1040ES payment option? Is that what you're referring to? I have several clients who pay estimates using this method and I've never had an issue or know of ever receiving this type of notice. We include the clients banking information on the 1040ES payment form and the payments are automatically pulled on their due dates. That option has worked well...except for when a payment needs to be cancelled. That could be an issue.
  3. Thanks very much to all of you for your thoughts. Much appreciated.
  4. Three brothers purchased their parent's home for $1 many years ago (probably not the best route to go, but that's how it was done). Parent's lived in the home until they passed which happened recently. Brothers are considering renting the home for a year before they place it up for sale. Intent is to split income and expenses of the rental and sale evenly. Questions: Must a partnership be formed? Does the home have any basis that would allow for depreciation. There have been no significant upgrades over the years. Since the brothers purchased the home for $1, I do not believe they are subject to any type of stepped up basis or anything that would allow them to depreciate the value of the home?? Am I mistaken? If the intent is to sell the home in the relative near term, do they simply include Schedule E's on their personal returns showing the income and expenses for the period it is rented, with no basis to depreciate?
  5. I can't speak to converting from Drake to ATX. I can speak to my experience with ATX. It's been generally excellent. I use the program on a stand-alone desktop and have fortunately never experienced the "debacle" or other issues you may have read about. Year after year, the program has worked well for me. Have there been hiccups, yea...but not to the point that I've seriously looked to jump ship. Over the last two years, there have been a few instances where I have needed to contact ATX support. I chose the online chat option and in every instance my issue was resolved in a reasonable amount of time. I suggest testing ordering a demo of the ATX program and seeing if it meets your needs. I believe they offer some type of pilot option that would allow you to see what the solution offers. Good luck!
  6. Can some of the Pro Series users please provide pros and cons when comparing that program to ATX. I've read through some of the strings in the Pro Series forum on this page and it seems the current users are very happy with what Pro Series offers. Many moons ago, the firm I worked for used pro series and I recall it as a reliable and robust program, but that goes back 25 years or so. Does anyone use their portal? How does that stack up?
  7. I have one client who pays by money order every year. My bank, PNC, did not accept a money order deposit using the mobile app last year. I wonder if that changes this year? Time will tell.
  8. I'm also in the market for a new Dell. I currently have the T1700 desktop running 8.1 pro. It's been a workhorse through four tax seasons but it's time for something new. I've always had very good luck negotiating deals through Dell's "Chat" option and I'll go that route again. It seems those representatives are very eager to deal. That's been my experience, anyway.
  9. Tracy Lee, welcome to the Forum. With the exception of information not converting correctly, what is your impression of ATX after using it for the season?
  10. Overall, I think this tax season went more smoothly than I originally anticipated. It didn't take that long to get used to the new 1040 format and ATX worked relatively well all season. Sure, there were some hiccups and a learning curve but it all worked out in the end. Thanks very much to all the members of this forum who give their time and lend their experience. It's such a great resource and one I value very much. Enjoy the "off" season!
  11. Very said. What a tremendous loss.
  12. Yes...the same on my end. Seems the "Official" page is reporting it as well.
  13. Must the payment arrangement be taken automatically, electronically or can the client pay via an online service or credit card each month himself without the funds being taken automatically?
  14. While it may result in more accurate withholdings, do they truly expect tax payers to understand what is required by the new form??
  15. Assuming the income stays in the estate, and the rental income for 2018 amounted to just over $500, does the estate pay the tax on that with the 2018 1041?
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