ILLMAS

Have the prior accountant email/fax you the bill and pass it on to the client and then ask for the password. There ways to obtain the password, just call the department.

You can debit the loan payable by $100K and credit either the property or goodwill for the $100K.

Is he a partner with someone or is this a smllc? His wife, however his kids will be the beneficiary. Were these rental properties? 3 properties are rental and 1 is a personal residence. What is the relationship between the living trust and the llc? Honestly, I can't tell, the Revocable Trust Agreement makes no mention of the LLC. Any besides his involvement in both? His wife, the kids will get equal share once both parents die.

TP brought in a stack of papers and told me he created a living trust and transferred the deeds of his properties to an LLC, but from all the documents I cannot tell how to treat it for tax purposes? Continue reporting on Sch E or create a partnership return? Thanks MAS

Why Chicago, give the murder capital a break already. No really Chicago Heights is a bad area, even Chicagoan's are scared to go there.

Just send an extension on their behalf, I usually do that for two years after that I stop.

Thanks KC, I will try first thing tomorrow morning.

A new client that came abroad this year, I asked her is she could request some information from her prior accountant, and she said I rather you call him because I am afraid of him because of how he talks to people, my jaw dropped.

I have a new TP that has a losses from rental activity from prior years, I am trying to figure out how to enter it form 8582 Part I c, if I go to worksheet 1 I am unable to enter or even override the line. There has to be another way, can someone assist me. Thanks MAS

That is one of my biggest problems I can flap my yak all day long with my clients, I need to stop that

TP child had capital gains over 5K from sale of stock, I prepared a tax return for the child with Sch D and form 8615, I entered all the stock sales to match 1099-B and on form 8615 I entered the parents taxable income and tax, so the child has some tax due. Now what is the next step, do I need to include the additional tax on the parents tax return? Have the parents send the child tax return with their signature and a check? I am lost here, first time doing one so your help would be greatly appreciated. Thanks MAS

I haven't read through the whole threads, but has anyone pointed that maybe the wife likes the mancho man type, I remember reading something from Sigmund Freud to that nature.

Don't waste your time for $150, you warned the TP already.

For billing purposes is best to enter each one, one by one at $1 to $5 each = $1,400 to $7,000 in your pocket, what do you prefer?

Sorry this is for IL workmen comp, Not NY These audits are a piece of cake, just have handy the quarterly returns and 1099's for the period they are requesting. Just remember the policy period is not going to match their calender or fiscal year, for example my last client was being audited for 02/20/13 to 02/20/14, I provided 2013 quarterly returns and printed out a payroll summary for the period, they'll tie it out. If you are busy, ask to see if you can fax them the information, saves them the visit. MAS

I am going to confess, I now regret saying that to her

A new client called me about her tax return, she wanted to know when she should send out my payment, if it was okay to send the payment when her refund comes in, I told her I expect to get paid when you receive the goods and not when the refunds comes in, I also mention to her that I really hate calling people to remind them that they owe for services and not only that I think it's embarrassing too, she agreed and said she feels embarrassed when they call her too.

This is first time I ever hear something like this, TP always want a second opinion when they owe, but charge him anyway, he going to get the same respond where ever he goes.

Same thing happened to me, I will just going to paper file the 1120 C and 1120S extension for the same client, who know if they sent out the form 2553. I am like this poor lady, I don't have time for that.

Now I understand why DD appears on line 12 of the W2.

I hope this thread does not become pointless.

I agree it's always a sore point.

Restart computer and try again.

It's never going to happened, no window base software developer is going to reinvent the wheel, lets use ATX 2012 & 2013 as an example, it had many problems just changing the design within Windows O/S, picture what would happened if they changed operating systems. Apple is very happy with it's market share already.

How are you running your business programs on your Mac? As far I as know you still need windows to do so.