ILLMAS

Let's say it was cheaper for the employer to reimburse employees for their share of ACA, instead of the company getting a group insurance. Employee A does his tax return and because his income was low he qualifies for a subsidy and gets of a refund (ACA refund), this would be considered double dipping in my eyes and the employee should return the refund to the employer or not claim the subsidy, correct??? But is there a way of informing the IRS an employee is getting a reimbursement to prevent him/her of milking the system? Thanks Edit: I believe I found the answer, but I will wait to see what other say before I post it.

Today I found out there are merchant service brokers, just like insurance brokers that help you find a good deal. My client signed a deal with a broker to find credit card merchants that had lower fees and every time he found one he would move the account to a new merchant. But what the merchant broker failed to inform my client was that he would be paying a hefty cancellation fee each time the account was moved. Does this sound like a scam or is this practice common?

Banks now a days are teaming up with companies like ADP & Paychex, and are able to provide payroll for a fraction of the cost or even for free sometimes.

Lol this will only affect computer builders, if you already have it don't sweat it.

I would like to see some sample of other members tax organizer, I like ATX's but I would be interested in something more simple for my clients (KISS) to follow.

The IRS loves cash-only business by the way.

Married men live longer than single men. But married men are a lot more willing to die. Johnny Carson

I just signed up my associate for this seminar today: https://checkpointlearning.thomsonreuters.com/CourseFinder/CourseDetails/6154?source=CourseList Also Kiplinger had some good information for tax preparers on ACA reporting.

Sometimes creating a diagram of the ownership might help.

http://thefreethoughtproject.com/police-officer-shot-dead-pointing-stun-gun-mans-dogs/

You must be on the southside of Chicago

I think they look at the overall of the parents investment or net worth, here is a short article how it factors into play: http://www.forbes.com/sites/troyonink/2013/02/28/ira-contributions-pay-less-in-tax-but-more-for-college/

Hypothetically speaking, yes they are all corps and will be corps once they split them.

Did I missed the Chase data breach, was it posted on the forum?

Exactly, that is why I am trying to get feedback from others, this one is not a simple yes or no question.

I need to confirm that the rules of attribution does not apply to this scenario: Dad and Mom own two companies that are considered brother-sister controlled group, they are planning to sell XYZ to son A and B (age 21 or older), and the sons are planning to split the company and create two separate corporations. I looked into the control group/rules of attribution and it seems they are no longer considered a control group and the rule of attribution does not apply because the parent does not own greater than 50% of son's businesses. Any takers? ABC XYZ Mom 50% 50% Dad 50% 50% XYZ becomes LOL DBA Son A 100% Son B 100%

Does the surface pro fall under any of these: http://www.atxinc.com/PDF/ATX_2014_System_Requirements.pdf

For an individual return, the taxpayer will get a notice with the adjustment, for a business return, they'll want to do an audit.

A big YES for IL, give it 1 to 1.5 years, best thing to do is to amend right away.

How do you ruin a party? Invite an accountant.

I am suggesting we put this thread out to pasture.

Lets have some fun and try to calculate the penalty for these companies that fail to comply with ACA employer mandate: 1. For 2015 ABC, Inc has 101 FT employees and 200 PT employees, what would be the penalty for this employer? 2. A married couple owns two business: a tax practice with 14 FT employees and 6 PT employees and the accounting business with 35 FT employees and 50 PT employees, for 2016, what would be the penalty for this employer? 3. From question 1, ABC, Inc increased their workforce by an additional 25 FT employees, and still does not provide coverage, 39 of the employees got tired of waiting for the employer to provide the coverage and went ahead applied for coverage through the exchange, what would be total penalty for ABC, Inc? Hints All FT work more than 30 hours per week, all PT work exactly 29 per week. The employer responsibility provision will generally apply to larger firms with 100 or more FT employees starting in 2015 and employers with 50 or more FT employees starting in 2016. You may use any penalty calculator out there.

Both of you drink too much calfeine.

The only way I would quit ATX is if the price goes up to compete against other top-notch tax software.