Lion EA

Yep, prepare lots of NY commuters and my kids' partnership (the bakery.Hancock NY) and reside in CT and own an IL farm and lived in CA for a decade. Guess I'll retire to Nebraska the way I've been picking them! My dad started his life in South Dakota, but then moved to IL. I guess it's his fault.

If you are the shareholders and are selling your stock, you're selling capital gain stock, long term or short term depending upon when you acquired the stock. Probably long term capital gain rates to you. If the S-corporation is selling its assets or a part of the business, then it might be selling business equipment on 4797 or a block of inventory or...and it might be ordinary income to the corporation. Follow the money.

I'm still calling CT daily to try to fix the mistake I made preparing a return while the client sat here, left off some CT W/H. I'd just amend, but want to reach a real person as CT often catches W/H errors and fixes them. The bigger problem is that now it goes from owing CT to getting a refund -- and we set her up for direct debit 11 April. I have to stop the debit !! I've spent more time on the telephone that I spent preparing her return. Did you notice Rita's "signature"? Felony, what felony?!

You were at my office in CT all day and could not have killed anyone in TN.

You can amend a return at any time. You have a time limit on filing for a refund.

Read carefully NY's definitions of resident and domicile and everything about PY residents.

It'll show on the 8949. I've had clients tell me they didn't get a 1099-S, but it was with dozens of pages of their closing papers. They saw too much at their closing to remember it, but it was sent to the IRS.

NY will not think he moved until he actually moves and sticks his landing. Staying with friends is not moving into FL. He won't be able to prove to NY that he moved out until he can prove to NY that he moved into another state.

I would not want my client's name on any CA form under those circumstances. I would not want CA going back in time to when he did have a CA customer. I would probably tell my client all the above comments from CA preparers and then suggest he tell his customer that he currently does not need a CA waiver and the next time he has a CA order he will fill out any appropriate forms at that time.

25 to 65 with NO children. No upper age WITH children. (Something like that, I have only two EIC returns, and they're young parents.)

Yeah, I love the "But, I PAID the taxes already" when they take out retirement funds.

Yes, it's 3:20 a.m. and I just packaged a return for mailing after uploading to FileShare on my web site to await their signatures for efiling. They're up with a newborn anyway, so I guess we could've all been here together -- but I would've had to put real clothes on! When I'm not expecting clients, I work in my flannel jammies and fuzzy slippers. That's a visual you don't need, either. Sorry.

With the number of hours my returns take, I'd have to feed my clients! In fact, I have one coming Tuesday who DOES want it done by the time she leaves, so she's bringing us lunch. A few years back when she had an HSA for the first time, I made an error on that form. Luckily, it did not change her tax, but it was embarrassing when she called me to say she found an error. It might not have happened if I could've slept on it and proofread the next day. But, she still wants it done while she waits. One of my last holdouts.

Good stick and carrot.

Oh, I spend 30-60 minutes with each client. Face-to-face with anyone that wants it and via telephone for those too busy or far away, lots of email too. I just don't spent five-six hours with them while preparing their returns if I can help it. I'm best late at night with some sleep and then proofreading next day. (Or those 3 a.m.emails like Joan says where I ask questions or report results.) Had a couple of cousins (of each other, not my cousins) here for six hours this afternoon while I prepared their returns, and I have such a headache. The returns are almost identical, so the second one goes really fast after completing the first. Still, it's an intense six hours. They live far away and don't want to let their materials out of their sight. I'd prefer to see them and chat after I'm done and not while I'm prepping. But, different strokes for different folks.

Follow the SSN.

I can get a lot more work done with no one else in my office. That includes my husband who I have not yet adequately trained, but we're getting there! My clients are continuing clients. I always need a thorough initial interview with new clients, but often that comes AFTER I've reviewed their prior year returns. I still have some that insist upon live prep. But, one earlier this week -- I missed some CT w/h even after we'd discussed how much she'd lowered it and I'd highlighted it in yellow on the 1099-R and... -- so I've been on the phone with CT to see if they caught it or I need to amend and when and she'd asked for direct debit for the first time, so can we stop that in April?, etc. I don't like not sleeping on it and proofreading the next day. I can proofread all I want, but I just see the same things that are already in my mind when doing it all at once.

Was it someone on this board that said, "If I'm going to work for free, I'll take the time off instead."?

I'm so sorry. That makes for a stressful tax season. I don't use ATX. But lots of people here are coming to your rescue. Do take Tom or someone up on an offer to help. I'm sure you'll be able to negotiate a price that makes it worth Tom's/Patty's or someone's time and worth it to you to preserve your clients while you deal with family and heal yourself. It'll be a worry off your shoulders. Take good care of yourself.

I have used Sara's method when I think a paper return might be needed/expect a possible efile reject. I am set to mail if needed. If efile accepted, I shred the extra signature page. (Did that for a few trusts the first year I efiled trusts and was concerned about the exact legal trust name matching for those returns that came to me from prior preparers with little in the way of trust documents and no former efiling.)

If she was willing to pay her broker $1,700 then you need to charge her at least that. Read the new rules thoroughly and do whatever is the least amount of work for you to conform to the rules. My favorite method is import. Takes seconds. Produces a fat client copy. Efiles fast. And, I charge by the pound!!

CT and NY and a large number of state (40ish) departments of labor have agreements with the federal department of labor to share information. Often the feds get a lead on an IC who they think is an employee and pass the lead on to the state. In CT, they're known as the audits from hell. I think they can go back ten years, charge both the employer and employee payroll taxes, penalties (50%?) and interest are huge (CT interest rates are higher than the feds).

Just tell her she's deducting them by not reporting them as income and paying lower taxes as a result. I have one "cash basis" speech for those who will understand and a different speech for those that say all their friends do it.

Great.

I get the husband/wife having different views of money/savings/taxes/etc. issues. But, I get a lot of family issues, especially when dealing with estates and trusts, and children issues and sometimes it amazes me what all from clients. Even my husband realizes from what clients tell him about what they tell me (he's retired and does some deliveries for me) that I spend a lot of time listening, counseling, doing therapy, building relationships that go much farther than just tax preparer. We're not supposed to practice law without a license, but what about psychology?! Even my psychologist client will start talking about his ex or his sons or.... I have a lower rate for off-season bookkeeping; maybe I need a higher rate for in-season counseling!