Lion EA

I have a LOT of extensions to file. Saturday. And a couple siblings with kiddie tax to proofread Friday, one sign/pick-up Friday (which means I have to shower and dress!), and maybe the family in Singapore to dig into Friday and try to complete by Monday. If I can squeeze in any little ones (I don't have little ones, especially in April) Sunday and Monday, it would stop some of the phone calls. I gave amounts to mail in to the clients who will mail in extension payments. Going to e-file extensions for all extensions, whether they tell me they're mailing or not. (Thank you, Jack, that's a good idea.) And, have a bunch that called and said please file extensions, so I have no info, so zeroes. I've had only one extension denied, and it was by CT a few years ago for a single mom who teaches violin and doesn't make much money. So, I hope this is not the year any government cracks down on "zero" extensions, because I think I may be e-filing more than my usual number of zeroes. Going to get some sleep before I have to shower and dress!

Haven't done a CA in a long time, but will bump this up again for you. (I know we have lots of CA preparers.)

I haven't e-filed all extensions in the past, but this year one of my mail-with-payment older gentleman is in the hospital directing daughter what to do. So, I started using this method on ALL this year and going forward. E-file extensions (especially now that CT is finally accepting this and some other new forms via e-file) for everyone. Give paper extensions -- in addition to those I e-file -- to those that request and those that I encourage to mail payments.

I had one client that not only had everything in original envelopes, they were not necessarily the original envelopes for the contents. Would ignore an envelope that was her personal AmEx bill only to find later that it contained a sales receipt for some biz materials she purchased + her son's report card + an uncashed dividend check. I paid a gal to open her envelopes, sort info, and create a ledger of sorts, and charged client a bookkeeping charge.

Haven't dealt with MD. Have a couple CT clients with NY rentals. We're carrying forward losses that will come in handy when they sell their NY properties. Maybe, PA, too; a bit sleep-deprived to remember now. Yeah, starting with AGI is a game-changer, though. Shouldn't have answered without preparing MD returns or at least having time to look at one! Sorry.

E-file all extensions to get acknowledgements. (Next time, don't send him the 1040-V if he's already paying with an extension. I never send clients the 1040-V if they're paying via direct debit.)

The state will get lots of money when your client sells property in them. And, your clients won't have any carryover losses to lower their tax burden. I insist on state returns for real property. I let clients make the call re all those states have tiny PTP income or losses.

I was furious with ATX, but did find this independent board 4/14 I guess. Been here ever since. Thank you Eric and KC for your initiative and Judy for joining their team and ALL of you for sharing.

A MA loss carry forward could be used on the MA return for the year of a complete taxable disposition of the property. But, it sounds like she doesn't have a MA loss carry forward on her MA returns, no MA returns. You could file MA returns now....

I have not received the green return cards from time to time, so I don't even trust certified/return receipt requested. E-file. If a client wants to mail, then they're on their own.

You also have the option of using the exchange rate on the date of each transaction. If TP was paid monthly, use the rate on each pay date. (I wouldn't do that in April, but you could tell the client to provide the US dollar equivalent to you.)

Probably everything except life insurance, right? Partnership reporting can get so creative!

I have a couple that jump out. And, at least one that has no interest in increasing his withholding.

Now he tells me they had a baby in 2015 and gives me the details. But, his wife still has negative earned income, so still no child care credit. Helps with another exemption, though. And, he's really cute!

Your clients will be glad to have those MD losses when they sell the property.

Oh, like "taken or takeable" much better! I think I'll use that phrase with my clients now. I know it's the phrase that will be in my head. Thank you, Pacun.

No expense for fertilizer, that's why you have a profit.

He had $5,000 in box 10 which I entered. He spent over $12,000 for a full-time preschool program while both parents worked. But, one spouse was self-employed and had a loss for 2015 (profit in 2014, so it hadn't come up last year). Add back the $5,000 to wages, computer does that for me. Just hoping there was some help for the SE spouse with no taxable income -- but, I hadn't found any myself. Thank you all for confirming.

I keep moving when I'm filing extensions later and later due to preparing one more return, often to get a complainer off my back (I know I shouldn't reward them, but trying to reduce MY stress). Have a chiropractor's appointment today which I really need, being hunched over a computer for way too many hours each day. Tomorrow I'm at a biz client's site all day and one of our orientation/training sessions for Appalachia Service Project for three hours, plus driving to another town and back, at night. (Kentucky this year, won't know the county and town until early June.) And, one sign/pick-up in person on Friday. Uploading a lot to FileShare on my web site, and retired hubby's delivering returns and getting signatures and schmoozing with most of my local clients so I can keep working. Everyone seems to have a new wrinkle this year, plus a few minutes (or more!) on Obamacare re each return. I'm not going to complete the one I thought, the ones I promised. I hate ending the season with unhappy clients. So, overall, more extensions that I'd planned for.

Happy Birthday, KC.

Do I understand this correctly? Taxpayer with W-2 job and dependent care benefits. Spouse self-employed and a LOSS for 2015. Cannot take DCB, right? (I know they get added back in to wages, was just hoping there was some deemed employment amount such as for student or disabled.)

Once in a while I get a stray code or a tiny character like an ' hanging out in a field that I think is blank. Try deleting, or does ATX still have a Restore Field button, or backspacing, or whatever to see if that clears the lines that are supposed to be blank.

Yeah, I agree with Jack. It's April and I don't need new clients and I don't even have any time to talk with them to see if they might want to file correctly. Don't throw good time after bad. If they came to my office. Good Riddance. (I might try to be polite if they were referrals.)

Thank you, FDNY, I'm keeping this. In NY's defense, I did reach a great gal re a biz return who waived a first-time penalty!