ILLMAS

Can someone share a sample contract, I am more interested in the lingo for client confidentiality and non-compete part. Thanks

I was just a tax training this past weekend and the instructors first words were "RAISE YOUR FEES BY XX%", 200 + people were in agreement.

From Pub 535, page 2, middle column "Determining your qualified trades or busi- nesses. Your qualified trades and businesses include your section 162 trades or businesses, other than trades or businesses conducted through a C corporation, W-2 wages earned as an employee, and specified service trades or businesses. In general, to be engaged in a trade or busi- ness, you must be involved in the activity with continuity and regularity and your primary pur- pose for engaging in the activity must be for in- come or profit. If you own an interest in a pass-through entity, the trade or business de- termination is made at that entity's level. The ownership and rental of real property doesn’t, as a matter of law, constitute a trade or business, and the issue is ultimately one of fact in which the scope of your activities in connec- tion with the property must be so extensive as to give rise to the stature of a trade or business. However, the rental or licensing of property to a commonly controlled trade or business is con- sidered a trade or business under section 199A" Do you think a client a with a handful of properties would qualify?

Had a similar issue before, PITA TP every year, never failed, that my fees were too high for 1 hour work etc.... For 2016 he called me to let me know he was going to prepare them himself, I said great, he fired himself and I was happy. A couple of months later he called me non-stop, he needed help responding to an IRS letter and even offered to pay me to sort things out, I said no thank you, I am busy and don’t have time, he even had since aunt call me to convince me to help him and I still said no.

Correct, I’ve been thinking QBI is only for SSB.

I've been digging around ATX and Proseries to see if in anywhere one can check-off to let the K-1 recipient know they qualify QBI or the person preparing the tax return know. Does it exist and maybe I am not seeing it? I would hate for the IRS to challenge a TP because their preparer took QBI on a candy store or any non-qualifying business.

http://www.revenue.state.il.us/LegalInformation/regs/Part100/100-3020.pdf

IL income tax is based on Federal AGI, if by any chance there was some AGI in 2013, the state of IL is one of those states that communicates with the IRS.

Thanks, I will contact our county tax assessor. MAS

Question for my non-profit friends, let's say somebody bought a building that was a church or a community center and was exempt from property taxes, now that the building is privately owned, it is now subject to property taxes. Can the new owner apply for property tax exemption if they will be leasing back to church/community center? Thanks

Does this person brings in the same lunch everyday in the same tupperware and submits a reimbursement for meals, working more then 8 hours day?

Speaking of sick kids, many years ago a client brought in his two grade school age kids and was letting them run up and down the hallway without a care in the world. After they left, we found out the kids had drank almost all of the coffee creamers because they didn't bother to throw them away.

Ralph and Alice in 2018 https://www.liveleak.com/view?t=kobSe_1543575607

Update: I called ATX tech support, the problem was ATX has different ways to login into the account, I was told to login going via a different website and it worked.

Here is the message I am getting, I tried using another browser: 170XXXX\Admin AuthenticationType: UUMS-MFA-Email Logout

Can someone do me a favor and check to see if you can login and view your account. Thanks I am able to login, but get a blank screen, like it's being redirecting to a different webpage.

Does anyone know when will the system be back up? IRS website does not mention the day it will reopen.

+1 on 512GB or greater SSD drive it's worth the extra money

The port that failed on my computer was the HDMI, VGA still works, are you using an HDMI connection?

I had the same problem with a Dell XPS, I was using dual monitors and the video card finally went out, but it only affected one monitor, I am the awkward person with two monitors but only uses one of them.

Does anybody know if there is M-2 equivalent for a 990? A fellow accountant friend of mine client had a financial audit for 2015 & 2016 after the 990 was prepared. He is having trouble for 2017, if he keeps the beginning balance (from prior year tax return), then he cannot balance for 2017. The problem is solved if he uses the audited financial statements balances as of 12/31/17 but then it will not match the tax return that was filed. Can he just use the new beginning balance or is there another form to reconcile the balance? Thanks

Show this to your client: https://www.legalmatch.com/law-library/article/theft-by-conversion.html He can file a police report and make his friend a wanted person, this will get his attention.

I sent you a PM

Does anybody here have a client that didn't offer any health insurance and is now getting notices from the IRS? If yes, did you or the IRS calculate the penalty? Thanks