ILLMAS

Correct, I verified last year W-2 to make sure she didn't change exemptions. I had a couple of clients in the past say, I am claiming zero but I just had it changed on 12/31/XX....

I have a TP that is going to file MFS, her W-2 gives the number of exemptions (zero in her case) and Married. I know I am going to get an earful as to why she owes, she is also claiming her father as dependent, my question is, aren't the payroll tax tables designed to balance out at end of the year? Or by filing MFS, that is enough to throw people off?

Ex TP called me again, yes she did go somewhere else and I am actually happy. I am bored here at the office and if anyone wants to know why I am happy please PM me.

Let's change "done" to "prepared"

I would think the final cost will be on Sch A as either legal fees or if you know the 2016 legal fees, reduce 2015 selling price by the legal fees, and in 2016 use that amount against the actual legal fees to break even.

TP left me a weird message today, "I am getting my tax return done right now, but I have a question"? WT_

Get an iphone, there is this little side button that occasionally gets moved and when you can't figure out why you have so many missed calls and say to yourself, geesh I am going deaf, I had the phone with me all day and it never rang...... Safe yourself from calling Apple, best bet is to check that sneaky button or switch

Same boat as Jack, free to the 1st student, second student return has a fraction of what I usually charge.

I just prepared one myself today ( 2 hours ago), close the client you are working on, then go to the Preparer/ERO setting/tab, under the column that says NYTPRIN, you'll find the codes (pull down menu), I used number 10.

You are absolutely correct, I cannot believe I said quick claim.

The mother basis at the time of death was zero, she had owned the property 40+ years, also there was no gift tax or estate filed, she passed away about 6-7 years ago. Also the quit claim deed was done when the mother became ill, she died not long after that.

I have a new client that is in the processing of selling his share of a property his mother left him. There was no estate or inheritance based on what the TP is telling. Way before his mother passed away, the brothers and with the mother agreed to quit claim deed the property between the four brothers. My question, if the TP sells his share to another brother, would his basis be zero and his gain 100%? Your thoughts.

Have you ever thought about adverting your tax business on your clients W-2, well now you can put the advertisement on the envelope which technically is not advertisement on the W-2, check out the attachment. Advertising.pdf

I had a client bounce two checks, I am going to play it nice, but as soon as I collect my fee, good bye.

Selling expenses. Selling expenses relate to the sale of the property. They include commissions, attorney fees, and any other expenses paid on the sale. Selling expenses are added to the basis of the sold property.

Is the husband the guy who drinks warm Corona beer?

Update Disappointed client brought a copy of the spouses tax return prepared by a big box company and as it turns out there was more the story and now see no problem how the return was prepared. To conclude, this big box company charges too much.

TP called me today to me know his spouse went ahead and had her tax return prepared as HOH (influenced by co-workers that have kids and are not married), he was disappointed she had them done without getting the proper advice, here is my question, by him claiming MFS, will this cause a problem for his wife? MAS

I had a non-client call me last week and left me a message that he had some questions in how his tax return was prepared to call him back.

I have a TP that is considering installing solar panels, however he has had a very small tax liability over the years, would you recommend for him to go for it to save $1,400 (average tax liability) but to spend $50K for the panels? Thanks

TP closed her bank account, can she have her tax refund direct deposit into her son's account? I would like to find out first before submitting tax return. Thanks MAS

Form is automatically being added to corporate tax returns on ATX2015, anyone know why?

Do I have include form 3115 even though there was no change in the accounting method? It's about eight pages.

Thanks Jack, perfect.

How do I prevent forms I didn't use not to appear in the ATX invioce? For example, if I entered medical expenses on Sch A even if the TP doesn't itemize, their invoice shows my fee for Sch A, I would like to avoid this. Thanks MAS