Lion EA

Talk to her about MFJ. It might save them both some money.

Didn't they spend their wedding night together? Just met at the JP's office and then went their separate ways?!

If he's gone the second half of the year, never to return, HOH is easy to defend for the spouse. But they got married in November! I'd suspect they spent at least a few hours under the same roof. And, he's in the military! That just screams temporary. (Either he's getting out someday or she's going to join him some day or just spend R&Rs together.) Both those choices really imply that they will eventually spend time under the same roof (and probably already have). I think it would be hard to defend that this is a permanent separation when they just got married in November. Doesn't marriage imply you intend to spend some time together? Really tough sell to an auditor. Now, if they'd been married with him in the military and her filing for divorce in November, maybe you could make a case.

When their eyes get big looking at my bill, I heft their thick folder and say, "You're lucky I don't charge by the pound!" Usually gets a smile as they reach for their wallet.

It has been fun seeing physicists and other scientists getting some press recently!

Agree with everything Easy said -- except new laws taking effect in June or any partial year. Remember the years when we had two mileage rates during one calendar year? When I'm king of the world, all tax laws will take effect 1 January, but as Easy said, at least six months after voted and final.

I want a fat client copy so I can charge a fat fee!

I root for the commercials!

Outdoor Hands: http://www.outdoorhands.com/site/

The estate could've made significant portfolio income which it passes along to the benes. If your client inherited a stock on DOD, there would be no income. But, if that stock has been paying dividends since DOD or bonds paid interest or..., then the estate had income to pass through. Maybe something like that is your case.

Amendments are in May or later. Separate bill.

My clientele sounds a lot like Gail's. However, I do a freebie for a family friend. I've spent a month with her (and with her mother in tears saying all her 33-year-old daughter's friends have their refunds) and AccessHealthCT and Husky to see if she's going to receive Form 1095-A or not. AccessHealthCT is mailing forms, but Medicaid via Husky is not, but client says her family is not on Medicaid. Very time consuming. I could not charge enough for this. And, as Gail says, I should be reviewing biz clients records and preparing 3115s now. People are starting to drop off even though they haven't received brokerage statements. Lots of phone calls. I let more and more go to voice mail. I'm running to catch up this season.

I expect some employees with employer coverage only for the employee. So, still have to ask questions for the rest of the family members that might result in a separate form. And, next year we have to wait for the 1095s for everyone (well, maybe not Medicare users, but they might have SS and thus a piece of paper). Struggling now with a family that used the marketplace, so waiting for 1095-A. But, marketplace sent her to Husky, which is really Medicaid and does NOT send a 1095. Except that client swears it's NOT Medicaid and all her mailings say the marketplace, so I'm making her wait until next week to see if she does get a 1095-A from the marketplace. Then client's mom calls me in tears, because all her daughter's friends got their refunds last Monday. I can't talk to you, mom. Daughter/client is 33 years old, by the way! This is VERY time-consuming, even though this may up as just a check-the-box.

Gotta love IntelliConnect: U.S. Master Tax Guide (2015),1010A.Legal Fees and Costs Related Information – Federal An individual can deduct from gross income attorney’s fees and court costs incurred in connection with an action involving: (1) a claim of unlawful discrimination; (2) certain claims against the federal government; or (3) a private cause of action under the Medicare Secondary Payer statute ( Code Sec. 62(a)(20)). 12 The deduction is limited to the amount includible in gross income on account of a judgment or settlement, whether as a lump sum or in periodic payments. The deduction is claimed by entering the amount and "UDC" on the dotted line next to line 36 of Form 1040 and including the amount in the total for that line. An “above-the-line” deduction (formally referred to as an adjustment to gross income) is also allowed for court costs and attorney’s fees paid by or on behalf of the taxpayer in connection with any whistleblower award under Code Sec. 7623( for providing information regarding tax law violations. The deduction cannot exceed the amount includible in gross income as a result of the award ( Code Sec. 62(a)(21)). 13 The taxpayer claims this deduction by entering the amount and "WBF" on the dotted line next to line 36 of Form 1040 and including the amount in the total for that line. For deductibility of legal fees associated with the production of income, see ¶1093. Footnotes 12FED ¶6002; FILEIND: 9,088; PTE §5,805 13FED ¶6002; FILEIND: 9,088

Sorry. Just remembering something, probably an e-Newsletter from NAEA or similar, that noted a new rev proc or reg or.... It may come to me in the middle of the night, so I'll post more if/when I remember.

Sat with client's bookkeeper last week and stepped through new 1099 wizard in QB. All was well. (They'd upgraded from 2010 to 2015.) She was going to print a couple to hold up to forms from Staples to make sure. We were going to print this week when I was in. Boss didn't want me in this week for a variety of reasons. Told her to print. She stepped through wizard and two of eight vendors changed amounts, one to $0 and other to higher than last week; diagnostic re thresholds; and a W-9 arrived for a new vendor that I didn't know about so wasn't mapped. I spent hours on the phone with her, but really can't do this without seeing her screen. I told her to check with her boss re me going in Monday.

If it was discrimination, and a narrow definition (hostile job environment/sexual discrimination/something?) then the lawyers' fees can get netted on line 21 instead of being a 2% on Sch A. As you say, I would not supply the wording but direct the lawyer to designate discrimination if appropriate to the settlement.

I file now to recipients and the week before the deadline to the IRS/SSA. There's always that call about a new address or even an error in the amount (had a husband/wife songwriting/singer team for a client; we didn't have the breakout right).

Excel worksheet is free; booklet is $20 but worth it: http://brasstax.com/3115%20Booklet.htm Lisa Ihm is a great speaker if you have the opportunity to hear her live or even take a home study course.

Nice. Thank you for sharing.

Just trying to trace the money from ebay to...in hopes it was to the partnership's bank and not a partner's pocket. As long as they recorded what they did, you'll be able to report it. Follow the money.

Does the partnership had a banking account? Did they move funds from e-Bay into their partnership account? You have a great training opportunity with a start-up partnership. And, maybe a bookkeeping opportunity.

We got less than anticipated; although, it'll take a while to get the streets clean. We'd had Code Red robocalls from the state and from Weston leading into the storm, but the call late this morning said all is well but please don't drive until roads get plowed. Our plow guy did plow our driveway during the night, so there aren't very many inches of snow on it and we have an Outback. We did not lose power, but finally have a generator so was not as worried about that. I'd been hearing about Nantucket. Steve has some cousins in several MA towns. One along the MA coast just had his appendix removed so was worried about having to shovel. Haven't seen them post on FaceBook yet to know how he fared. Be kind to your back as you dig your way out.

What about the greater than 2% shareholder who has their company reimburse their health premiums and has other employees/nonshareholders? Add it to 1 and deduct on the front. Add it to 1, 3, 5 and deduct on A? Some combination?

http://www.irs.gov/uac/Tips-for-Choosing-a-Tax-Return-Preparer See bullet point six. It's probably in here someplace: http://www.irs.gov/pub/irs-pdf/p1345.pdf especially pages 11, 12, 27 (what to keep)...