ILLMAS

I hate when that happens

I think this feature is awesome if you prepare your own tax return.

Wow this is a biography on me

Get a load of that officer’s clean record! It looks like nothing will deter Jen’s pursuit to be the top cop in the history of this city, and no matter how much the 24-hour media cycle tries to spin her image, nothing seems to soften her reputation.

I bet Dawn, Joy, Ivory and Mr.Clean would enjoy this thread.

You don't, I would advise the client to hire someone in Mexico and have them prepare the return, I know for a fact Mexico's equivalent to a 1040 is complicated and good luck getting the refund too.

Also have you considered using Quickbooks? I have used it a couple of times to create a TB and financials, very simple to use, you can export data in excel to cross reference to your workpapers. Also, any version of QB works for this, you don't need the latest version.

Back in the day we would use this software called Fast Advantage, who know if it's still alive?

http://www.liveleak.com/ll_embed?f=196cde1d32f5

The $4300 is the correct amount, but a good number of people in the tax seminar got this wrong and I include myself. I can't remember when was the last time I had a client with a W2G for gambling so I was thinking line 21 would be $27K and I would report the loses on Sch A. However in this example, the key was that the man had adequate support, from the ATM withdrawal to the deposit and the fact the he couldn't gamble away the federal withholdings. One thing he made clear, is that to make sure your client prepares a log, casino now a days can give you a print out because most likely not reporting whats on the W2G will get you a letter from the IRS, but having the log can save your client bum. Now what happens if the client doesn't have support for the winnings, he recommends putting the winnings on line 21 and loses on Sch A up to winnings, this response will probably get an argument from some, but it all comes down to having adequate records. I have a sample of the daily log he gave us, I can share it if anyone would want a copy to give to your client.

I always tell one of my older sister, I didn't know women get a receding hair line and I get that look.

Just remember ATX payroll 2012 is not the same as ATX 2012, copy and paste might not work from one program to the other.

I bet some people can relate to this guy.

Just wondering if ATX software is design to take those commands, maybe in the past they have work but ATX 2012 is a different beast. Today I can say there is no software I use today that uses the function keys, in the 90's it was a different story. And why do you use cut and paste in the first place?

It can also mean claw.

LOL same here, I remember the first and last time I went to those all you can eat steak houses, some people can eat.

http://www.liveleak.com/view?i=2d1_1389238533

You learn something new everyday, I never knew Taxed was a "she", anyway she will be missed, hopefully she'll come back as new user and start fresh.

That's how the instructor wrote the example, but if I had to guess why he put that in, it would because alcohol impairs your judgement. In truth, casino want you to spend money, because the odds of winning stink.

Now lets say Mr. Muldon, came to see you and didn't keep a accurate diary of his winnings and losses by receipts, tickets, or statements? In other words, Mr. Muldon is not a professional gambler or was not aware he had to keep a log. How would you report now?

+1 on the brother, I currently have the 5450DN and bought it at newegg, I would also recommend buying a couple of toner when you buy your printer, the toner that comes with the printer is not fully filled. This little machine is fast. http://www.newegg.com/Product/Product.aspx?Item=N82E16828113790

Here is a tax scenario we work on at this tax update seminar I attend this past Saturday: Tom Muldoon went to a Vegas casino in 2013 on the following dates and the following resulted: This is the sum of all of his gambling activity for the year. May 1, 2013 Took $500 out of the ATM at the casino, hit a $5,000 slot payout 2 hours later, started drinking immediately (free drinks provided) left that evening with $1,000, which he deposited the next morning to his bank account. Found a W-2G for $5,000 in his jacket pocket when he had it cleaned a week later. $800 of federal tax was withheld on this W-2G. June 2, 2013 Took $1,000 out of the ATM at the casino, played all day and was up and down, hit a big sot for $22,000, again started drinking, left with -0-. Received a W-2G for $22,000 from the casino. $4,000 of federal tax was withheld on this W-2G. Don't assume that he bought his wife or girlfriend a diamond necklace with the winnings How would you reported on this his 1040, Sch A etc....? What amount would you report on line 21 of the 1040? MAS

I came to the office today, looking like a construction worker, no way I was going to wear dress slacks in this weather. I really really feel bad for the homeless people, yesterday temp was brutal.

No it was just a general tax update, nothing to do with Drake.

I attended a 2013 tax seminar this past Saturday, the presenter did some interesting example that you can try at home, he basically took a high income client from 2012 and recreated it in 2013, he did a 1040 only, Sch A, Sch C etc... and the biggest change in 2013, is AMT goes down so drastically it can even disappear on a high income earner. Of course the additional Medicare Tax goes up, what I found astonishing is that the presenter (former IRS) had no words to explain why AMT went down by so much and he did say not to hold against his examples, that according to Drake the software was up to date. At the end he said if the tax program is accurate then congress did a major boo boo with AMT. I left all my material in my car, but I do recommend doing some examples, you'll be surprised, also don't forget to compare federal withholding, you might notices it increased.