Lion EA

The HRB software is their own proprietary software, so differs from all others. People are often most comfortable on their first software. So, if you have been using ATX, then using Taxwise will be a new experience but shouldn't created much confusion back in your office with ATX. And, if your assistant is already knowledgeable in ATX, then using HRB's software during a course shouldn't make her less efficient back at your office with ATX. However, if going back and forth, I'm sure there will be some confusion, sometimes on autopilot reaching for a Save key in a different place or trying to go to a worksheet that's in the "other" software. I have trouble going from my keyboard to my laptop to a client's desktop where the "reach" is different to reach a function key or whatever.

At a biz client's site all day and tax class (NY/CT-ATP) tonight, so haven't done any more reading. So far reading about when and what a company has to report, but not learning about what the employee/preparer needs to do with the info. Happy that Catherine has run into this form! Going to get some sleep now.

Anyone have experience with Form 3921 Exercise of an Incentive Stock Option Under Section 422(b)? My first time seeing this form, so I'd appreciate any leads, direction. Thank you.

Her money manager is a family friend of her son, which doesn't necessarily mean much. But, her statements show publically-traded stocks that do show typical selling prices for the ones I know or notice. And, it's a tight-knit Jewish community, so I'm not going to try to butt in when I don't suspect anything and know her son watches over her account. She's been making great money for 25-50 years and more. It's her only income. Raised a son, bought a home in Fairfield County, donates to musical charities, travels, lives a good life, pays her taxes, covers her increasing medical expenses in her old age, etc. Her son was paying per trade at a discount brokerage, but moved over to his friend and pays percentage of his assets now.

Wow. I have people paying 2% and 2.5% on smallish accounts. My big investors are paying much less. I need to do some reading before next tax season so I can check management statements as they come in. Although, my client who's paying the most has huge returns all the time and has for years even when all my other clients had losses, so her manager is probably worth his fee.

And, I learned in school that we'd have clean solar energy and be on the metric system...

And, we're still working!

I'm going to have Rita make all my calls from now on!

I had a client who did the online thing and ended up with a Delaware MMLLC via an agent. She had no partners, just her. She called the IRS and managed to be reclassified as a SMLLC right on the telephone and was told to keep the same EIN. The fact that she was a young gal with a southern accent might have helped, or tears! If your client is really sorry, he can wait on hold for the IRS to give it a try. Or, pay you for two tax returns.

There's also a time element. I don't have any similar now, so from memory, average rental 7 days or less is a biz and not sch E. So, do check on time as a possible exception to rental activity.

That means Drake rules for Drake users. It depends on what you need. Demo Drake to see if it's right for you.

There's always an estate. It might not have a filing requirement.

Ultra Tax is a great software, but pricey. I like ProSystem fx better, and saved money with pay-per-return. Both those are in a different league and different price range than either Drake or ATX. Only you know what your priorities are and only you know how you work. Get the demos of everything out there and try them out to see which work the way you think and which will handle your expected clientele now and for years to come. When you get your short list, then call the companies to negotiate prices on the ones you like best.

I tend to tell clients to contact lawyers, brokers, etc., knowing that they answer to their own confidentiality rules and will tell my client about the same that I'm telling her -- that I can't give out info. Then they whine less to me. She needs to deal with the trust lawyer and maybe her grandparents' lawyer. This isn't your job.

Not having this situation, I have not researched. But, off the top of my head, I'd tell my client that she has copies of the trust returns that I have prepared for her that she can give to her personal preparer and suggest she give him a copy of the trust documents also. Remind her that your previous clients also received return copies, but that she will have to acquire them from the estate as you cannot provide information to a third-party without specific written/signed permission. I would probably suggest she work with the trust lawyer as well as the brokerage firm. I would offer her extra copies of returns you prepared for her at no additional cost, but not any returns or other information from prior clients.

Form 2553 only. http://www.irs.gov/pub/irs-pdf/i2553.pdf

3) As a hairdresser, she is invaluable for the information she gives you and all taxpayers re taxes.

Feel free. A few of us from my small church in my small town go with a large church in a large town that's been doing this for 30+ years. The national organization is 40+ years old. So, they do have it down pat. I'm told that the centers love to have a Jesse Lee group because we are well trained. Safety, Stewardship, and Sensitivity. Lots of training. The wheelchair ramp modules are free to handicapped people and nonprofits in our area, so we help before we even leave home. The organizers are both adults and teens. Amazing program. Here's the national site: http://www.asphome.org/

Yeah, it was probably an e-newsletter from NAEA or other organization.

Didn't even notice! Although, I'm "Rita" to that group. First names for all, because we're all in it together, teens and adults. Cafeteria ladies will make (we serve and clean up, dishes, etc.) breakfasts and dinner beginning Sunday night. We make PB&J sandwiches for our crew and our family (the home we'll work on all week) for lunch. It's great getting the kids out of pricey Fairfield County, CT; they come back year after year and even return as college students and into adulthood. Our future is just fine in the hands of these ASP teens! I will accept all warm thoughts and prayers for our safe travel, for our work, and for the families we help. Thank you, Elrod and all.

We'll be making homes warmer, safer, and drier. My co-leader is a Purdue student just returning from a semester in Australia, so haven't met him yet !! We have five great teens in our crew. Did an enormous amount of packing tonight, as well as working with hubby to pack since it's his first ASP trip. Friday we pick up rental vans and load them, kids bringing their tools, etc. by the church at 6:30 p.m. Then it's 7 a.m. Saturday for a convocation and departure. We'll eat our brown bag lunches at an I-95 rest stop; dinner will be KFC in a state park in VA followed by our final orientation, work crew meetings, and sleeping on the floor of three churches to fit all 185 of us. Sunday is devotions in the parking lot, a stop at Food Lion to buy breakfast foods, and complete our drive to TN. Next week we'll work on a family's home. This is my fourth trip. My stepdaughter did it for a decade and invited me. http://www.jesseleeasp.org/

I just read recently that the letters go to both the old and new addresses. Can't lay my hands on the article, though.

I'll be driving a van full of teenagers to TN for Appalachia Service Project along with 185 people from my area: www.JesseLeeASP.org

I miss DOS.

That's pretty cool. Donate to a new nonprofit you set up to receive the donation. Get a tax deduction on your 1040. Then the private (not nonprofit) walks away with the donation at no cost to them. I can see why people retire to Arizona!