joans

New client - Went to Liberty last year. Single, w-2's itemized. Charged $261 - forgot to take 2 years worth of paid property taxes off of Sched A. We did 2008 and charged lot less and told him we would amend 2007 fora price, but suggested to go back to Liberty as they are the ones that screwed up and need to fix for nothing. H&R Block not only one's who are overpriced.

Regarding the stock market - I gues it depends on your outlook if the glass is half empty or half full. Personally, I have always tried to be the half full type. I believe that the US will bounce back and be strong again because of the nature of our citizens, however, with the politicians we have in there, Rep or Dem, I don't know if we stand a chance. I also, think we need to kick all of them out and vote new blood in that have been in the real world. Just my opinion for what it is worth.

Sara

Thanks for the ideas. I will present these to my clients, but it sounds that we are all on the same track:) I appreciate all the feedback. It's nice to be able to get different opinions on here. Makes tax season a little more bearable:)

Sara

We have a client who is now invested in Traditional IRA and looking to rollover to different bank with higher interest. Question is: They are looking at rolling over to a Roth account. Me thinking out loud: They have not paid taxes on the traditional IRA, if they roll over to Roth, they will have to pay taxes on the amount that they are rolling over. Am I correct in this thinking or way out in left field. And if they do roll over to Roth, how do you enter on 1099-R? Any help would be appreciated. This would be considered for 2009 taxes, however trying to advise client how to handle correctly.

At least you have snow banks - I wasn't plowed out this morning and I was hoping to get stuck so I could go back to bed!

:D

Sure - rub it in:) We will be there in say 4-5 months:) Then we have it for 2-3 months and then back to cold weather:) They always say the weather forcast in WI is 9 Months of Winter and 3 months of road construction:)

Sara :P

1/2 hour drive took 45 min. Almost had to sleep at the end of our 1000 ft driveway. Drifted shut. Just love 4-wheel drive. Plus snow blower was under a tarp and the tarp was froze to the ground. So I said poo on it, went in, made a cranberry old fashion and snuggled with daughter:)

4 -10 inches tonight:) Should be a fun drive home:) Gotta love Wisconsin weather!!

Thanks for cookie, sandwich & rose, but i would prefer Old Fashion and good movie to relax:) OH well, only 1 1/2 months left to that day. Thanks all for the help.

Yes, client did inheritant from past away aunt and cashed stocks in in 2007. Yes, very busy. 1 week behind in returns and running like crazy with 2 other jobs. So sorry if sometimes clarification is sketchy. Please forgive.

My bad. Yes he did sell the stocks in 2007 and received a notice from the IRS because they weren't reported. Sorry for the confusion. Still trying to figure everything out. Haven't done too many of these.

Thanks for the info. I need to file ext for ours also as husband is overseas working for a year, so I get to file the 2555. Yea. Should be fun:)

Thanks for the help. Client received the stocks in 2007 and never showed it to us. Aunt did die. So I would use the FMV or stocks on the date of her death. This should make gain a lot less as stocks were originally purchased quite a while ago. Appreciate all the feedback:)

Sara

Client received stocks from his aunt in 2007(have to amend 2007 return). Two questions: 1) What is the cost basis of the stock - when aunt purchased it or when client received it? and 2) would this be considered inheritance? Client is looking for the will to have supporting document. Thanks for the help.

Sara

I have used in on several returns and never had an issue with it. I have actually used it on mine, although that was for 1st time home buyer credit. As long as they show the medical expenses on their Schedule A and have the receipts to back it up that woud be sufficient.

There is a spot when it figures the penalty to waive it because of medical expenses. Not sure what the code is, but I think it is line 2 of Additional Taxes Form for cashing an IRA early.

Thanks. One client only had a contribution. I did create an e-file and it went through all right, so maybe it is just an ATX thing. Too overwhelmed to delve into it much further.

I have several clients with HSA's and I have entered all the information from contributions to distributions. When I go to check the return I get an error that says "Information has been entered on the Form 8889, but not on Stmt - Pg 1 and Stmt - Pg 2. Calculations may no longer be correct, restore fields as needed" I have double checked everything and still can't figure out what I am not doing. Please help. I don't do a lot of these and now I have this error. Very frustrating.

Is form 4868 coming up to be able to e-file. I have several clients who need to file for extension. Please let me know. Thanks.

Sara

Client not going to be happy. Had $8000 worth of windows installed and no credit.

I have a client who is filing MFS. Have spouse's information. In Wisconsin - community state. In a domestic abuse situation. Have not done one of these in long time. Wages? Do you just record half of each spouses or full amount on w-2's to transfer to 1040 and WI-1. Do not have w-2 for spouse just final paystub. Please help.

Thanks all - Didn't see the box on the top of the form. Learned something new today. Does that mean I get to go home:) lol. Didn't think so.

I have a truck driver working for a company. Do you have to override the meals alotment to get the DOT allowance on the fom 2106 or is there a separate spot to enter for DOT meals? Help:)

Sara

Received one from WI, but waiting on several others. Wis takes a while:(

What about the S corp? Still waiting on the WI for that. I have the federal done, but waiting to transfer info to WI when it comes through for the state k-1's. I will print out the federal K-1's.