ILLMAS

My XPS arrived today from Dell, I paid about $1,250 (including tax) for the following specs: Win 10 Pro 64-Bit 16GB Memory 512GB SSD drive 1TB HD drive no speakers The only add-on for me was the cd/dvd tray Costco has a similar computer on sale today for cyber Monday: https://www.costco.com/dell-xps-tower---intel-core-i7----geforce-gtx-1650.product.100513790.html

Correct me if I am wrong, but I always thought sales tax deductions on Sch A are for for personal property purchases, not business equipment.

Last week, I received a message from Dell, that my computer will now arrive on Dec 6, instead of Nov 25, did you get a similar message?

I will replacing my office PC and wanted to see if this would be possible with ATX, I would like to install ATX on the C drive, but keep the data on the D drive (Encrypted), would that work? In other words, ATX software will be hosted on the C drive, and the client database on the D drive. Thanks MAS

Are Are you getting the same price? I will be doing a clean install of WIN 10 Pro, I dislike all the extra stuff dell throws in.

ATX always recommends to install from the lastest updated version, if installed from the CD, try downloading it from your clients ATX online account.

What do you think about this computer? $1,160 plus tax XPS Desktop Processor 9th Gen Intel® Core™ i5 9400 (6-Core, 9MB Cache, up to 4.1GHz with Intel® Turbo Boost Technology) Operating System Windows 10 Pro 64-bit English Video Card NVIDIA® GeForce® GTX 1650 4GB GDDR5 Chassis Options 460 Watt Power Supply Memory 16GB DDR4 at 2666MHz; up to 64GB (Additional memory sold separately) Hard Drive 512GB M.2 PCIe NVMe SSD (Boot) + 1TB 7200RPM 3.5" SATA HDD (Storage) Wireless 802.11ac + Bluetooth 4.2, Dual Band 2.4&5 GHz, 1x1 CD ROM/DVD ROM Tray Load DVD-RW Drive (Reads and Writes to DVD/CD) XPS 8930 XPS 8930 Base Keyboard Black Dell KB216 Wired Multi-Media Keyboard (English) Monitor If accessories are purchased, they may ship separately Driver DW1810 driver Mouse 6 Button Laser Mouse Sound Integrated 5.1 with WAVE MAXX Audio® Pro Speakers No speakers (Speakers are required to hear audio from your system) Cable US Power Cord Documentation/Disks Safety/Environment and Regulatory Guide (English/French Multi-language) Systems Management Windows System driver, XPS 8930 Regulatory Label Processor Branding Intel® Core ™ i5 Processor Label Additional Software Additional Software Operating System Recovery Options Operating System Recovery Media Not Included Service 1 Year Hardware Service with Onsite/In-Home Service After Remote Diagnosis Monthly Subscription Services No Monthly Subscription selected Microsoft Application Software Microsoft Office 30 Day Trial Protect your new PC McAfee LiveSafe 12 Month Subscription Remove $1,309.99

Is there a limit as to how many years a business can get audited by the IRS? Thanks MAS

An associate reached out to me for help and I was not prepared to answer his question, maybe someone here can help me. His new NP client offers professional memberships to doctors, lawyers, architects etc.. to attend "who's who" events in the different industries nationally and a local cater asked if he could become a member in exchange for free food (for one year) for their events hosted locally. Both him and I were thinking in-kind, and to be report it as in-kind goods as an income and expense. A member use to prepare their 990 before and would report these types of exchanges as barter, can someone assist me in properly accounting for this transaction on the 990? Thanks MAS

I have never encounter where a TP is short on money to acquire a new property and wanted to see if I am determining the basis correctly: Property given up Property A - Was sold for $150K and the basis (basis of new property received) of this property was $25K, no mortgage fully paid (After closing cost etc... $138K was wired to the 1031 holding company) Property B - Was sold for $300K and the basis (same as above) of this property was $66K, no mortgage fully paid (After closing cost etc... $285K was wired to the 1031 holding company) In short property A basis is $25K and property B is $66K totaling $91K, these two properties were sold to obtain property C. Property received Property C - Was bought for $700K and proceeds from the sale of property A & B was wired from the 1031 holding company to the title company leaving a remaining balance of $277K. I already know at minimum the basis of the new property received is $25K + 66K = $91K, but from the instruction I need to add debt acquire of $277K, so my new basis should be $368K? I have also prepared two forms 8824 and wanted to see if I need to divide the $700K evenly with the two forms or it makes no differences how I distribute it just as long as the new basis matches? Thanks MAS

Does anyone by any chance own an old toyota landcruiser, in their garage or barn and is willing to sell it?

Does anyone else remember a point in time when you had to buy a TV gadget convert to digital TV, well there is nothing we can do but to accept change.

Important Information Regarding Your Wolters Kluwer Account 30 Day Notice: Discontinuing Support of Products on Microsoft® Windows® 7 Operating System Due to the fact that Microsoft will discontinue support of their Microsoft® Windows® 7 operating system on January 14, 2020, Wolters Kluwer Tax and Accounting North America will end our support of products running on Windows® 7 as of November 30, 2019. We have identified that you are using Windows® 7 to run one or more of your WK tax products. Wolters Kluwer's ability to sufficiently test products and diagnose software issues for customers using Windows® 7 will officially end November 30, 2019. As your software provider, we strive to keep our products and websites as secure as possible. We can only do that by supporting the most recent versions provided through our supported environment vendors, such as Microsoft. As stated on Microsoft's website, “while you could continue to use your PC running Windows 7, without continued software and security updates, it will be at greater risk for viruses and malware.” For WK customers, this means that our first release of the 2019 tax software, scheduled for late November 2019, will not be supported on the Windows® 7 operating system. In addition, customers using Windows® 7 who contact Wolters Kluwer Technical Support may be asked to upgrade their Microsoft® operating system if their issue cannot be reproduced with currently supported software or if the problem is determined to be linked to the use of Windows® 7. We urge customers using Windows® 7 to upgrade as soon as possible, so we can continue to provide the support you expect from Wolters Kluwer during the 2020 tax season. Please refer to the Upgrade Your Windows® 7 page for more detailed information and instructions on upgrading.

click on cancel or the X and you should be fine.

Is there a tax? I thought there is a penalty for not disclosing bank accounts if they exceed $10,000 (combined daily balance) and the penalty is 50% of the highest account balance.

In @Jack from Ohio voice "Run Forest Run", don't dirty your hands, you already knew this was a mess when you initially turned him away. Now for two of the best quotes from Judge Judy: "Beauty fades. Dumb is forever." "Don't pee on my leg and tell me it's raining."

Try getting Adobe Pro X, you can encrypt the attachments and setup a password.

Consolidated companies? Division? Subsidiary? Don't see any reference on the tax return. DBA? No, at first that is what I thought. Do you know of any relationship such as identical shareholders? Yes, same shareholders on both companies.

Can someone give me a good reason why a business A (revenue, payroll, expenses etc...) would run their operations with one FEIN, but report (1120) with business B FEIN I would understand if business A, gave business B a K-1 but this is not the case. The IRS probably doesn't care who reports it, however I would think the IRS would like to tie a 1099-K issued to business A wouldn't they?

Let's a say a grocery store has 10 cans of creamed possum in inventory as of 12/31/17, in 2018 the department of health picks up a can finds that all 10 cans have expired and asks to be throw away. Is this a good example of spoilage? Thanks

Union Electrician or plumber: This repair is going to take 3-4 hours and its going to cost you $2,000. Client: I guess I'll pay it. VS Non-Union Accountant or Tax Preparer: This return is going to take 3-4 hours and its going to cost you $400. Client: What #$!@, $400 to punch in numbers on the computer %$#$!, give me my papers I'll find somebody else for cheaper.

Property was bought 40+ years ago with very little repairs and improvements.

I am trying to understand how a joint estate works (maybe a joint estate can’t exist either). Husband and wife put their real estate investment in a trust, husband passes away... FMV of the joint property was $400K at the time of death, wife decides to sell that property for $425K. 50/50 ownership, before death the property had zero basis. How would one report the sale of the property? Wife gain: $212,500 husband: $12,500

Jeez, I know this hypothetical question, but if this was a real question I would refer my client to a tax attorney better and not play superman/woman.