ILLMAS

Lucky it's not a number 2

I just wanted to wish everyone Happy Holidays!!!! MAS

TP had a ball spending the corporation money on personal expenses, he is okay not deducting those expenses on the tax return and paying any tax due, the amount is very significant compared to the income. My concern is the way the accountant reported it, if I want the return to reflect the financials, I would have to put the non business related expenses as a reconciling item Sch M-1, but I think that's the easy way out and she should be reported as additional compensation or due from shareholder. After just going through an audit for client, the agent tack on personal use of vehicle to his personal return as a constructive dividend, so this is where my fear is coming from, your input would be greatly appreciated. Thanks MAS

"I believe all proceeds received by my client should be treated as ordinary income and there is no goodwill." Not so fast, what about name of the business, it's customers, they have to be worth something, If I were to put a price on them based on the information you provided, the price should be around 30K for goodwill. MAS

Fighting Mayweahter would solve all his IRS problem$

This will be nice to have <iframe width="640" height="360" src="http://www.liveleak.com/ll_embed?f=c4e534aabea5" frameborder="0" allowfullscreen></iframe>

This year only paid around $680 for the ATX Max

IRS employees have internet access? Since when, they barely have email communication.

No audit.

This is a question on behalf of my associate, he prepared 2010 and 2011 at the same time for his client, in 2010 TP had approx. 51K loss on the sale of stock, he was able to take a 3K loss for 2010, in 2011 his carryover loses were 48K from 2010, in 2011 he sold some stocks and had 4K gain, so his carryover for 2012 was 44K. Then he gets a letter from the IRS saying he forgot to report additional transactions for 2010, 2010 was amended to report the additional sales which resulted in a gain of 6K, so after amending 2010 the carryover should have been 42K, now the question is should 2011 be amended or can the adjustment be made on his 2012 which hasn't been prepared yet? Thanks MAS

What I was trying to say is, if you have an old version of QB and a new client comes with a 2013 or 2014 file, you cannot open it if you don't have either the 2013 or 2014.

What happens when you get a new clien that already bought 2014 QB?

Pro-Advisor will run you about $795.81 a year, I believe you need to renew it if you prepare payroll for your clients.

I just printed labels the other day, I simply cut about .25 from the top they came out perfectly centered, however if you have clients with long names, it will overlap to the side label.

This song is probably from your time. http://youtube.com/watch?v=FchMuPQOBwA

You can also do a dual boot, WIN 8 & WIN 7, you will need to purchase Win 7 though. And most likely you won't be able to downgrade, a fresh install would be necessary.

I guess I am calling myself out on this, I bought a refrigerator that was a floor sample, the price was already discounted, and then I notice it had a very small dent and I asked for an additional discount and it worked. I also bought a stove that day, my wife didn't like the floor sample so I had to buy a new one, and you are not going to believe this, but the stove still has cover of when it was delivered, at the end, my wife ended up hating the stove, because after 1 1/2 years it hasn't been use

Has anyone heard of someone damaging a piece of clothing so they can get it cheaper or just looking for an imperfection and negotiate the price?

I hate when that happens

That makes a great Christmas present for someone

Thanks for the fast response.

I have tried to efile a client return twice and I get the same rejection error "this type of efile is not being accepted by the EFC". Anyone else?

You should write up a letter and have you client ask the school to put it on their letterhead, if they show your client where the door is, just have them pay the tax.

I swear the house I grew up in, the first floor didn't have a bath when my parents bought it, my father had to built one before we moved in. If you can imagine the nasties arm pit smell, that was what most people smell like, even though there was bath house no one visited because they were cheap or it's their culture. My brother got to relive his childhood memories when he visited Europe, one shower per floor and no deodorant. http://forgottenchicago.com/articles/public-bath-houses/

Hello, does anyone have a letter (template) that explains what are the requirements for the employer and employees they can share? You can PM if you wish. Thanks