BulldogTom

Kudos to Inkjetsuperstore from me. Good prices and products. Never had a bad cartrige from them. Tom Hollister, CA

I would say the exclusively rented areas are the only portion that can be deducted. I am only aware of one area of the code where mixed personal/business use of a space is allowed, and that is for day care providers. Tom Hollister, CA

Like This That is good to know. Tom Hollister, CA

I just bought a Canon Imageclass 1350 Multifunction. I love it. Duplex printing, feed tray for copies and scans, 500 sheet capacity. I am very happy with the cost and the speed. The cartriges are a bit pricy, but I was able to get the cost down by going to inkjetsuperstore.com for the toner. Tom Hollister, CA

Sounds like a 50K goodwill payment (name, customers, location, etc) and a capital lease for the equipment for $180K (60 payments of $3000). Some portion of that 180K should be interest. The rest should be the cost of the assets. Your client needs to have an equipment list and assign the cost of the lease to those items after deducting the interest. Just my 2 cents. Tom Hollister, CA

KC, if I can highjack this thread, can you tell me how to make a smiley face on a post? I never learned how? Thanks Tom Hollister, CA

So I did my W2's for my day job. Spent most of the day Saturday getting all my reports printed, 941, 940, CA DE9 and DE9C as well as my NV tax payroll tax returns done. Printed all the W2s. Everything ticked and tied. Uploaded to the SSA BSO site. Damn, I was good and it was done for the year by January 4th. Time to start working on clients files. Until the damn insurance company sent that letter that says they paid 3rd party sick pay to one of the employees. Dang it, dang it, dang it..... Now I have to put out a corrected W2 and re do my 941, 940 and NV SUI and MBT returns as well as make another deposit for the employer FICA. Sometimes I feel like the windshield, sometimes I feel like the bug. Today I feel like I went splat! Tom Hollister, CA

Just finished Spidell Tax Update Seminar today, and what Joan says is what they told me today. If you want to pick and choose your years, go ahead. They called it an IRS gift. They also described the method of amending exactly as Lion outlined. However, they did say to attach both original returns to the amended return. Also indicate that the amendment is being done per revenue ruling 2013-17. They also had some info on a form I never heard of before, 8958, to allocate income between individuals in a community property state. I will be checking on that form for my clients that want to go MFS. Tom Hollister, CA

I agree with KC and John. Tom Hollister, CA

Created my own in Excel. It works for my purposes. Tom Hollister, CA

<<seems>> is the operative word. A lot of things in the 2012 program "seemed" to be fine, until they weren't. Just my paranoia. Tom Hollister, CA

I try to avoid the 2012 disaster at all costs. I don't trust that package. Tom Hollister, CA

Unless you are working with clients who need to do some year end tax planning. Tom Hollister, CA

Yeah. It was only 8 assets on the return I was working on, so it went pretty fast. Tom Hollister, CA

I had a problem with a return like that. What I did was click on the asset in the fixed asset tab, changed it from Sch. C to Sch. A. then changed it back again to schedule C. It flowed properly. Looks like when you roll the return over and the form was not available yet, it needs to be re-linked to the form. Not the most elegant solution, but it worked for me. Tom Hollister, CA

I got mine through a broker called Dimirak Financial in San Diego. Got it a long time ago. The policy is from CNA Surety. Very reasonable price. Never had a claim, so I don't know if they are good or not at claim resolution. Tom Hollister, CA

KC, Do you know how bitcoin works. Do I go out and buy them with cash? Are there a network of goods and services providers that will accept them? So, could I do a tax return for my client and get paid in bitcoins, then turn around and by toner and paper from a supplier that will accept bitcoin as payment? is that how this works? Tom Hollister, CA

Update - I called the agent today and the conversation took about 1 minute. "please confirm the taxpayers ID". "Thank you. I recieved your appeal letter, and I have made a few changes based on the information you provided. However, I still find that the taxpayer can pay in full through an installment agreement. I am forwarding this on to appeals". "Thank you and Happy Hollidays". So now I go on to appeals. Tom Hollister, CA

Nope. I am getting paid in freindship and excellent home cooked meals from his wife when I come over to discuss his situation. Longtime friend came to me and needed to clean up his afairs. I never realized he was not filing his taxes, and I have known him for a long time. After he lost his job, he decided to go into the ministry and he felt like he needed to clean this part of his life up. "Render unto Caesar what is Caesar's...". Took us nearly a year to get all the returns filed. That was no fun. There is no way they will ever be able to pay back all the interest and penalties, let alone the taxes they owe. It is just not going to happen. He makes next to nothing, and she is retired and working part time at the church as a secretary. If I put them on an installment plan, they will not be able to pay more than the interest going forward. I put that amortization schedule in the packet that I sent to the agent showing that even at 3%, the government is not going to get paid back. The agent's report shows ability to pay in full. Lots of funky math in her calculations. Like 25K that she says they have in FMV of the bank account. The statement shows $250 in the account. Interesting math. On the other hand, it ain't my fault, it is theirs. I know this, and so do they. But I am still going to give it the best shot I can. Tom Hollister, CA

The overriding point, which I have made to my clients several times, is that there is no legal requirement for the Treasury to accept an offer. They can say "no", and there ain't squat you can do about it. So I want to be as cooperative as possible. But I do want to get to the next level where I have a chance to speak to someone who is not just pushing numbers around. I might be able to BS my way to a satisfactory resolution for the client that will clean this mess up forever. But I fear the answer will still be "no". Tom Hollister, CA

I type, therefore I am. Tom Holliser, CA

I am working an OIC for a multiple year non-filer. I won't go into the details, this is a question about procedures. The original offer was made and rejected, as expected, by the service. We have sent in a request for reconsideration and request to move to appeals after the reconsideration per the IRS policy instructions. My wife takes a phone call from the agent in Brookhaven this morning, and she says I need to talk to her right away or she will be forced to take action. I call her back but I am not in my office (I am at my day job) and I don't have the records. She says she can't talk to me without the verification information, which I totally understand. She then says if I can't call her back by Monday, she will have to move the file to appeals (I guess that is what she meant by take action). My question - don't I want this to go to appeals anyway? If they are going to blow off the reconsideration by putting an unreasonable time line on the reconsideration, why don't I just let it move forward. I am not trying to be difficult with the agent, but for her to say that I have 1 business day to contact her or the process moves forward, perhaps I just want it to go forward. FYI the appeal letter needed to be in by 12/20, and was delivered by the post office on the 17th. I don't think we are going to get a good answer from her anyway. This is the farthest I have ever gone wiith an OIC, so I am very green as to the procedures at the reconsideration/appeal process for an OIC. Any advise is appreciated. Tom Hollister, CA

How about this: My fees will increase 6%-10% on average this year due to many regulatory and cost factors. I will be happy to explain all the increased costs to you at my standard hourly rate. Tom Hollister, CA

This is a pretty straigtforward transaction. The assets that are being sold need to be itemized (hopefully you have an asset schedule for depreciation purposes) and priced at the agreed upon FMV. Your client will sell all the assets and they will flow through the 4797. The remainder will be goodwill. As lynn EA said, use the form and it will walk you through the process. Tom Hollister, CA

Nothing in my inbox from you KC. When did you send it? [email protected] Tom Hollister, CA