Lion EA

My 14-16 hour December live seminar is huge on updates and advertises that topics can change due to new federal tax law changes, and the NY and CT hours are called Updates/Changes. The 2 hours in January is advertised as a Last Chance Update. Even if I have 100 CEs and no matter when my reporting year ends, I take those two courses. Getting the new stuff or newly reinterpreted stuff from live instructors with opportunities to ask questions and to interact with other preparers facing the same things is important to me as I go into a new tax season. I don't consider this fall as procrastinating at all.

The NY/CT-ATP offers dinner meetings with 2 hours of CE in January, May, June, July, September, and November, and an eight-hour seminar including Ethics in November and 14 hours over two days in December (16 for CPAs). I also attend the CCH User Conference, but don't get any CEs as an EA. I usually take an NATP webinar or two, maybe a Tax Talk Today or two or more, maybe CtSEA &/or CT chapter of NATP live classes. I need 72 every three years with no less than 16 each year and Ethics each year. NAEA requires 30 per year, I think. I'm usually in the 30s for qualified CEs plus nearly 30 more that don't qualify (NY and CT and multi-state courses and other courses offered to CPAs). When I worked for Block, I took everything I could as it was almost free and usually (back then) live and fairly local so had twice as much each year then as now. I still have tax returns to prepare that were dropped off recently, but I don't rush to a deadline during November and December so take more courses now. If you're in a time crunch, you can get CEs from your NAEA Journal by taking an online (?) test on the material in one or more issues of the Journal. Check with your professional groups.

https://www.irs.gov/individuals/important-update-about-your-eservices-account

E-Services is putting in a new, more secure service that was targeted for 24 October but has been postponed. We will have to re-authenticate ourselves again with stricter info.

Mine too. And, I don't use ATX anymore. Last working interests I had, outside of PTPs, were a decade ago at H&R Block Premium on their proprietary software. But, our posts will keep your thread up top...

Thank you. It all helps her, helps me. Thank you, all.

Thank you, all. And, if he has a refund, I'm just applying it to 2016 so I don't have to mail anything in this year!

Client passed away this year; 2015 on extension. Daughter who's a lawyer is the executor. Dad usually owes (will get to his returns Friday, I hope.) Do I need to mail anything in with an 8453? Such as death certificate (US citizen passed away in the US; would think they know he's dead, but...) or court papers with her appointment? Sorry. I know I could look this up, but still have six complex returns in less than five days. So, hoping someone knows this off the top of their head after dealing with it this year. [Message just popped up that my sister fell twice and is in the hospital -- IL, I'm in CT -- head injury, four staples, fever, UTI, bruises, chest pain, and more. Nurse said chemical stress test is abnormal and referred to her cardiologist. Yikes! What timing to fly to Chicago now. Going to have six angry clients. And, I always prep our own return last after the paying clients and HAVE to file on time to keep my license. Prayers for younger sister Jan, please and thank you.]

Congrats, Joan!

His cost basis is what he paid for the stock. In this case, he paid for it in two ways: a check he wrote the broker/what the broker withheld in a same-day sale/what the broker knew and reported on 1099-B PLUS what was included in his compensation/already taxed income. Not much different than if he bought the stock in two different lots on two different dates but sold all at one time. Just add together everything it cost him to acquire the stock.

Add the W-2 amount on which he already paid tax as ordinary income/compensation to the cost basis on Form 1099-B to get his real cost basis. Do the adjustment in your software, so it shows up in the right column. His basis ends up being what he paid for it PLUS what he was taxed on via payroll. Then compute gain/loss in the usual manner.

Is it inventory of the partnership that was created to be in the business of buying and selling property?

Thank you. She's so tall like her daddy, but luckily pretty like her mommy. Client is trying to get something definitive from NUS.

Again, without Forms 1095-B or -A, I should be filling out Form 8965 if taking an exception? Or, if NUS shows they complied with CMS or whoever "qualifies" them as offering MEC, then just check the box and NO form? (Sorry, Brazilian client for twelve hours until 2 a.m. this morning and then back to work, so I've had no sleep, brain is fried. Trying to get a couple more returns done so I can drive to PA by Friday for a long weekend at my granddaughter's first birthday party.)

Thank you very much, Judy, for all your research. I had not seen two of your cites. And, that 2015 amendment is what worried me the most being early 2015; think you or one of my boards pointed it out back then as the year began. That looks like the language I gave client, asking her to look into their coverage that many months ago.

Reading all that, even though the 2014 cite doesn't seem to be acted on any further, looks like she stands a chance of getting something from NUS (a public university) that says their coverage qualifies as MEC. But, she has been asking for details on their plan as it applies to US citizens since April. (Her husband is the employee, but she's the "tax matters" person of the couple. That might be slowing her dealing with NUS.) Assuming she shows me more documents that convince me they have MEC, do I check the box or do I go the form route with an exception because they're overseas? Not trying to be political, but this seems like an unintended consequence of Congress not reading a bill before voting on it. A family with healthcare coverage, not being a burden on the US healthcare system, not costing Medicaid, etc., but potentially paying the Obamacare tax if that country has not worked harder than our own Congress to understand the ACA !!

Thank you. They were NOT out of the country for 330 days within any 365 period. So, it hinges on "Certain foreign coverage" &/or if she has documentation that it was MEC (unlikely for the documentation, but possible it was MEC). Do I fill out forms? Is it an exemption? Which? Or, just check the box for full-year coverage?

And, continued this question on my original thread over on the ACA Forum, in case any of you have preceded me into tax prep for US citizens working abroad but making lots of trips back to the US and having healthcare via their foreign employer.

Client (who prepared their taxes until going to Singapore) has little documentation of their health plan except that her spouse's employment contract with NUS refers to a plan. I'm hoping that I can use Pub. 974's "4. Coverage under a group health plan provided through insurance regulated by a foreign government if: a. A covered individual is physically absent from the United States for at least 1 day during the month, or..." because the IRS page gives no link to it's definition of "certain foreign coverage." So, do I just check yes? Or do I fill out forms? (This gal had to hunt for many things, husband's compensation, etc., so went on extension. After a US wedding, more aging family in US issues, shipping daughter back to the US for college, etc., I'm getting info from her. And, great shrieks of how much they owe, so going over each line to see if I'm accurate.)

Sorry. My memory is fried by this point. Thank you for directing me. How can I prove that what NUS provides qualifies as MEC? I'm sure NUS doesn't worry about meeting Obamacare requirements. Going to the ACA Forum right now.

Client moved to Singapore a couple years ago to teach at the National University of Singapore for a few years. Healthcare coverage continued from his old job through July 2015; I have his Form 1095-C. What do I need to know? What do I need to ask him? Married with two children; whole family is in Singapore. What forms do I include in his return?

It sounds like you're also going for GSG !!

Hubby has a lot of fun with those calls. Plays dumb. It's doing what? Wow, I didn't know that. How do you know that? Can you help me? What do I do? With all kinds of excuses to pause, like turning on the computer, waiting for it to load, etc. like Sara said. When the caller has been very specific -- such as this is a Windows problem -- and hubby can't string him along any longer, he eventually says something about his computer being a Mac or otherwise not matching the problem the caller identified. He tends to get an angry Fxxx Yxx comment and a hang up.

Then you're probably going to pay handsomely for truly customizable software or else customize something yourself from Excel or a database software. For economical + customizable, you're going to have to demo a few (or maybe, many) to see what might meet your needs. Obviously, something that allows you to add custom fields. Call your current software provider to see if they have something for you to demo. Take a look at Catherine's worksheet. By the way, all the "calendar" programs I've seen DO include payroll, sales, that sneaky NY LLC fee I sometimes miss, etc., so you'd need fields to add client-specific needs, such as financial statements, info needed, staff, etc. When my sister worked at Northrup Grumman as government liaison with all the paperwork she had to deal with and government as well as company deadlines, she used a Windows calendar to track. She set it to alert her of upcoming events. Her computer would Ding, and then talk to her, such as, You need to get information from Jane Doe in XYZ dept. by Friday, and send her an email, and leave a text on her screen. I was sitting in her office one day when her computer spoke to us telling Jan she had to buy me a birthday present by tomorrow if she was going to get it in the mail to me by Friday to get it from IL to CT by my birthday! Since I was in town, she'd already given me my gift (Cub's tickets) but had forgotten to mark that activity done. Maybe you have a staffer who's good at research, demo-ing, customizing, etc., or three staffers.

I'm getting a good yield per acre on my corn crop this fall. Just a coincidence, I'm sure!