ILLMAS

LOL thanks can I send you some work to keep you busy JK

I have no experience with OTR truckers, and I've been holding off on working a new client and I wanted to see if forum members with experience can assist me through my journey. Here is brief scenario and then I will post my questions. TP was an employee for the first three months in 2013, bought a truck and became a subcontractor for the rest of the year. He drove approx. 150K miles and earned 182K, the company deducted operating expenses like fuel, lodging, maintenance, tolls etc... After all these deductions he only earned about 70K, then from that 70K he had to pay insurance, part of meals, telephone, truck washed, truck note (interest portion), which was another 15K leaving him with 55K profit/take home. Now here are my questions: 1. Since he was paid by miles driven, does this industry qualify for the mileage deduction, might be a dumb question but I have to ask. 2. When you capitalize the truck, do you enter the expenses on the auto expense tab? 3. How does the meal per diem work for this industry? 4. Anything else I should be looking for or asking? Thanks MAS

This worked for me this year, I told the TP I was embarrassed to be asking to get paid and to be calling people to remind them they owe money. And it worked.

Congrats Jack!!!!

Existing clients I usually do it for free, not that have done many free ones anyway. New client 1040X fee starts at $125 which also includes the state.

Some people are just lucky. http://www.chicagotribune.com/business/breaking/chi-irs-workers-bonuses-20140422,0,3831148.story

My colleague is 20+ year retired IRS manager and he doesn't even know who selects which tax returns to get audited. When he first started, they would just hand him the file, when he became a manager his superior would hand him the files then he would hand down to the agents. He now been retired for more then 15 years now.

And I was going to give up visiting the forum for lent, but I decide to give up drinking better. MAS

My call was answered in less then 3 minutes, why? Because the system is down

Yes, this was the case. Thanks

I prepare around 100 individuals, 10 corporate (complete bookkeeping which takes a significant amount of time at the last minute) and in between the tax season I do payroll, not for profit accounting and client visits. Keeps me busy.

bump

That's odd, it doesn't appear on this one. I opened a file of another client I prepared during the week and I do see the actual vs mileage box, I don't know if I should call ATX.

TP makes a living doing sales and drives over 20K miles for business, ATX is not calculating the mileage X the rate, if I enter the actual expenses that is what is being picked up. Can someone please help me out. Thanks MAS

I know someone that was a Sch C, created a LLC but continued to use the LLC bank account as a personal bank account, 90% of the expenses were personal so I consulted with a CPA friend of mine and he concluded it was best to continue reporting on Sch C.

Overweight

I only have a handful to do, but I still need to work on the extension which this year I will only be sending for selected clients (4-5).

Lol tax preparer forgot to report tips, please.

I am not an engineer, but what were you cooking?

I had a client once bring in an envelope that was probably soaked in a mixture of vick's vapor rub and vinegar, and the smell was unbearable, I had to make photo copies of everything and shredded everything.

I guess I missed the thread you are referring too, can some please post it. Thanks

one also

My favorite are clients are the ones that send their 1040-ES on a quarterly basis or the ones that know they owe taxes but have no problem writing a huge check

But isn't the Brookhaven office for OIC only? I think you now need to contact your local appeals office to get the ball rolling. http://www.irs.gov/Individuals/Appeal-a-rejected-OFFER-IN-COMPROMISE-%28OIC%29-Online-Self-Help-Tool-%28START%29

I just notice something odd with form 1116, if you enter information on the 1099 Div, then you click on form 1116 the page appears to be blank, but if you print out the form, the information appears, anyone else notice that? MAS