Lion EA

Yeah, he's gone now. A check didn't clear one time, so he was not accepted back! A client brought me lunch, her homemade curried pumpkin soup and fritatta and salad and biscotti. I didn't really have the time to visit with her, but it was a nice interlude, I didn't have to drive anyplace in the ice and snow, and I hope it's left me refreshed and ready to dive back in.

Used to have hubby deposit for me; he's semi-retired and always has errands taking him into town. (I live in the boonies; nearest town is 20 minutes one way in good weather.) I had a client complain that I should charge less, because I hadn't cashed his check for a few days so must not need the money! Now, I deposit immediately via the app. Hubby's been depositing our personal checks that way, also; so he doesn't need to go into the bank any more.

Had one go to HRB last year, to a preparer I know is good, friendly, expert re rentals and multi-state. But, she called this year to come back. Recently. And, with that NY rental that began long before I was her preparer. So, I told her about the new repair regs and how it would take me extra time and questions to her to explore her depreciation and to re-input all in my system and that she was welcome but would be on extension. She mailed me her materials. I will probably increase her price and blame it on the repair regs, but I never really charged her enough for the rental, two states, etc.

Rev Proc 2015-17. Only in box 1, same as before. Reversing some of their interpretations of market reforms and those $100/day/employee penalties. For 2014 and through 30 June 2015. Then we wait for more guidance. Are we having fun yet?

Reporting of greater than 2% shareholder reporting of health insurance premiums reimbursed and related issues.

Does a less than three month gap get a penalty? Isn't there an exception for that?

Good point. As a member, I didn't notice that. Considering how much I pay for education, that half hour is probably worth $20 in the scheme of things. If you're a member, definitely go for it. The bullet point slides (which you can download to your computer &/or print) were a nice outline.

Hubby was doing it with our personal account before I was willing to try it for my business account. Now it's faster than filling out a deposit ticket. The bank emails me that they received it and then emails me their acceptance. Plus, I can access my account via the same app or at my desk on my computer to see the deposit into my account, also. What was for dinner?

There's an app for that.

If they are telecommuting for their own convenience (spouse works in CA, for instance) then NY says their work is controlled by their NY firm and is NY sourced income. If they now work for the CA branch of a large employer and used to work for the NY branch, then now it's CA income. Do they still report to their NY boss? NY is very aggressive.

OH source. But, I don't have any current military clients, so my memory may be faulty.

I'm nervous about the word "Equipment." I've done "Office Supplies" for things that fit and "Supplies" for the electronics that avoid depreciation with the election. And, "Small Tools & Supplies" or "Small Tools & Materials" for a couple businesses that already used those or similar categories.

I have a couple of big S-corps that dropped off as well as three more individuals, so need to start on the S-corps now. Almost everything else is going to wait until after 15 March. I guess I'm now at least three weeks out. My "extension" date is moving closer to 1 March this year. I'm blaming it on ACA and the Repair Regs.

And, we all should be paying KC a consultancy fee because she keeps up with the tax law for us.

I am overwhelmed. Blew off Valentine's Day with hubby. He said, "Not even an e-card?!" So, we compared calendars and decided yesterday/Friday was doable. It meant working until 5 a.m. yesterday, but we were able to leave at noon to go to a different town, had a leisurely lunch, shopped a bit in the cold at a bookstore, chocolate shop (fudge), and jewelry designer's retail shop where hubby bought me a necklace/earrings. Were home by 6 p.m. and I worked some more. Feel a bit more behind, but a lot less cranky! And, three more dropped off today.

How much are you charging for these calculations/forms for paying back advanced premium credit and computing penalties for uncovered months or family members and explaining to them why they're not getting their usual refund and...?

Hey, Frazzled, do you have those stickers electronically? Is it a file that you print out on labels? Since the IRS no long prints their e-file stickers, I am down to my last 12. I'd love to have a copy of your file, if stored that way. If so, can you post it here? I think I just added to your stress. Feel free to include a few bad words on some of the stickers!

He didn't inherit it. It was income, should've been to the decedent, so is to the recipient. IRD.

IRD. I haven't had one in a long time. So, brush up on the rules.

Most of mine so far have fit in supplies or office supplies and one computer repair (network). I think the point of the election is to NOT have to list them separately. But, other than the items you depreciate and meals/entertainment, it really doesn't matter. For clients that have a reasonable bookkeeping system, I follow their categories, track what they want to track, if they're consistent from year to year. For instance, most of my clients lump their phone, internet, fax, communications, all together, so I just list Telecommunications or similar. But, I have an S-corp with some remote employees, so owner tracks every phone number, cell, whatever, to see who's just leaving 30-second messages and who's making 20-minute presentations, that kind of thing. I list all his detail under Telephone/Internet for him and collapse it for the tax return.

Kathryn posted on a LinkedIn board, maybe NAEA. It was a jolt to read a fine gentleman had passed away.

We're all sending prayers and warm thoughts your way. Cry. Scream at the top of your lungs when your office is empty. Turn your car radio all the way up and sing along. Throw snowballs at a tree. Build a snowman. Remember you are loved.

Where ever they fit. Supplies. Materials. Repairs. (Well, I guess that also depends on the elections.)

The passing of a legend! Kathryn Morgan, EA, NTPI FellowEnrolled Agent, Master Tax Advisor, Professional Speaker, Teacher, technical writer, ://www.hrbtax.com/Kathryn_Morgan For those of you who haven't heard, we as a community lost one of our legends this morning. The GrEAt Harlan Lundsford passed from a bout with cancer. Harlan, in his usual self depreciating style, "retired" last year and we all assumed he was off enjoying his well earned retirement. He was actually giving it his best fight against this horrible disease. We have lost several of our legends this year, including one year ago today, Sondra Gaylord. I'm sure they are all watching over use and having a beverage while doing so. So long, Harlan! chEArs from another EA in LA!

Don't change the code. I don't use Drake, but someplace around the Taxable box (or even the Code box) you should be able to access a drop-down menu or link to a worksheet or other input area where it asks you how much was rolled over. Now your 1099-R matches the 1099-R and your 5498 matches the 5498.