Lion EA

I really miss those Hostess chocolate cupcakes with the squiggle on top and the filling inside! I think I visited a plant on a school field trip once, or just dreamed I did.

Read the trust document. You say they want the trust to invest in CDs, etc.; but your question had to do with distributing the gains and closing the trust. What is your question: investments for trust or closing the trust?

I don't know if any fit your client, but aren't there about three different procedures for a late S election, including one when no return has been filed yet?

The conventional wisdom used to be that a college degree, almost any college degree, qualified you for a new career. You might not change jobs, but you would be qualified. Court cases are shifting the conventional wisdom, at least in certain federal districts. Your client has already shown that conventional wisdom at work by proving he was hired for a new job by gaining specific skills in his MBA program and presenting a letter from his new employer stating such to the auditor. You need to present your client's facts in such a way that they fit the regulations and the cases that have won deductions for MBAs in tax court. Your client has no tax trail or paper trail of employment in this country, except for a new job following an MBA program, with a time gap and a geographical gap in his employment history. You need to work up a timeline showing his skills needed in his former job and his current and how those skills were improved by specific courses. If you don't want to think of it as educating yourself, think of it as being able to educate your client so he doesn't say anything that hurts his case, or think of it as being able to educate your auditor or supervisor by citing cases. Someone that specializes in representation has probably improved their own skill set to deal specifically with auditors. You might want to search for representation for your client. At least, stop your client from communicating directly with the auditor and have everything go through you for review first.

There was that nurse working in hospital administration who represented herself and got her MBA deducted. And, obviously, my memory is full of holes re the details, especially her name. Someone will jump in re that court case. I agree that you have to research to argue this one.

My cousin needs a QB expert in NONPROFITS to set up the books, train him, and probably continue on a quarterly or monthly basis reviewing his data entry for the charity. The charity owns QB Premier Nonprofit version, don’t know what year. Charity was organized in NY, has a NY CPA preparing their tax returns, and has access to free office space in NY any time. Cousin lives in Easton, PA. He certainly could meet you in CT, crashing at my place if needed. He is fine with remote access. The charity also is authorized to raise monies in CA and IL. http://athlife.com/site/section/home/index.php Also, find Athlife on Facebook and Twitter. Please contact me via PM if you are interested.

Can't go from MFJ to MFS after due date of return. (Just from MFS to MFJ.)

She's responsible for MFJ years. You may need legal advice for MFS years. I would say yes, if his assets passed to her before paying his tax debts. -- but as I said, you may need a legal opinion. Someone will have dealt with this and jump on this thread.

It's a way to get transcripts immediately while the client's still in my office so I can discuss them. I'm bummed also.

We had 45 mph winds, but not many branches down. Roads that were flooded are opening back up again. My garage is flooded (it always does, so we don't store things on that floor) but basement is dry. And, we did NOT lose power! Hope everyone else fared well and can enjoy a beautiful day today.

Thanx for the info, Grmy. We also want to price out a service contract. (Trying to give us fewer chores for our old age.)

One electrician is recommending Generac, so he gave us a brochure. I think the other is Kohler, maybe.

Our unfinished garage is a few inches below the basement; a river flows through it when it rains; it also has lost ceiling insulation over the years when pipes leaked, so vents into the bedrooms and my office above. The unfinished basement has no ceiling insulation. So far the experts are suggesting an outdoor generator at the end of the house that has the electric panel inside (I had typed fuse box, showing my age!). And, I think our quotes were for systems from 8000W up to 20000W with 14000W the most common suggestion. I have a home office, so that runs it up, as well as the furnace since it's the ice storms and nor'easters during cold tax season that are most scary for us. We are in a small town with almost no services. I have my own well and septic system. The town provides roads, one stop light, eight policemen, and schools. No sidewalks or lights; all volunteer fire and EMS; take your own garbage to the dump or hire a private service; etc. Next to Easton with its three-acre zoning, Weston is the most sparsely populated area in Fairfield County so gets its power back next to last. I'm really looking forward to having a generator and am sure it will be worth every penny. I choose to rough it while on Appalachia Service Project this July (no A/C, outdoor cold water hose shower with black plastic hanging from clotheslines or PVC pipe "stalls," PB&J sandwiches for lunch every day, etc) but want to be comfortable in my own home.

We're getting older. One set of hurricanes a couple of years ago was before my husband had had shoulder replacements, the next set was while he was recovering from his first shoulder replacement, and Sandy and Athena were while he was recovering from his second. So, lugging buckets of water from tubs in the basement so we could flush toilets for 11 days each power outage was not in his physical therapy plan! Actually, we ran out of stockpiled water before the power came back on so drained the water heater, also in the basement, to use water to flush. And, the gas stations were out of power too; people weren't able to refill their portable generators. So, I'm spending the big bucks and getting the whole house generator that kicks on automatically and a big propane tank (wish the gas lines came closer to our street). We're getting enough power to run my home office (computer, printer, lights), well pump, refrigerator (we have lost so much food over the last three years), furnace (one year the house temp was 42 degrees, so in the basement and uninsulated garage where the pipes run it was probably close to freezing; we drained the pipes and fled), and a light in the room we're in, and a few other items. We've had bids for over a year but take a huge expense like this very seriously. We're having our two favorite bidders come on Wednesday to update their bids and answer our questions, I think we can finally decide. We're going to be in this house for awhile yet (it has a first floor master so will work even if one of us gets less mobile over time). Plus, a whole house automatic generator is probably a good sales feature!

We finally pulled out our generator bids after more than a year debating spending the money. Having the top two electricians come out next Wednesday to update their bids. Really need to do this while I live out in the boonies. Sandy took down five big trees and lots of branches, but there are a lot of dead trees and branches and trees that have grown too tall on our two acres. Talked to our friendly, local landscaper about tree work, but he's too busy (still doing spring clean-ups) to walk the property with us and bid until July. Between hurricanes coming up the coast and nor'easters coming down, we get hit hard. Hurricane Sandy was followed by Nor'easter Athena (or Nemo, depending on which weather station you listen to) before we had all our services back. I just read that we're expected to have 11 hurricanes this year instead of the usual 5-6. My stepdaughter already postponed her Saturday housewarming party since it's likely we wouldn't be outside. I don't get as unhappy without power when the weather's warm, but Athena brought snow. I still get cranky when I can't work and clients are waiting for their returns. Both my business bookkeeping clients have generators, so I catch up on them and recharge my electronics! Stay dry and safe everyone.

Wow!

Happy Memorial Day! Thank you to all who serve/served and keep us safe: military, first responders, even good samaritans. My family is grateful for your service and for the service of your loved ones, present and past. Hubby wants to go to the movies (our "dinner & a movie" consists of expensive but convenient concession stand food and a movie or two!). So, I may stay up late (what's new?!) to work on some clients that may not call this weekend but will certainly be calling Tuesday morning if they haven't heard from me. Sun is finally out, and it's looking a lot like Spring if not quite Summer. Reflect, but also enjoy the day.

It's all about building those relationships.

Those targets look very very far away! And, I like your colors; you brighten up the group.

Tell them thank you from me and my family. Enjoy your family this weekend.

Everything OK?

Happy Weekend and Hug a Vet and any active military you see and your first responders and everyone who keeps you and your family safe!

Form 8941 - Credit Exclusively from a Passthrough Entity - Update Dear ProSystem fx Customer: In an earlier e-fxNews, we communicated an issue with Form 8941, Credit for Small Employer Health Insurance Premiums, in the Individual tax system. The IRS has issued notices for returns where a value was on Form 8941, Line 15, but insufficient supporting details were present. We have worked with the IRS to mitigate future notices on this issue. In the case where Form 8941 is incomplete and the EIN of the passthrough entity is on Form 3800, Line 4h, Column b, a notice will not be sent. We apologize for any inconvenience this issue caused. Find answers to your CCH questions in our Knowledge Base at http://support.cch.com/answers/. Sincerely, CCH, a part of Wolters Kluwer If this email was forwarded to you, and you would like to subscribe to e-fxNews announcements, subscribe here.

Definitely. I did when my card arrived with a past expiration date and I couldn't get OPR on the phone. A nice young man reached them, and I received a new card with a future expiration date.