Lion EA

It's the time value of money. How early are you willing to tie up your money?

No. Cash basis tax payer repaid the money in 2012.

If taxable income from a scholarship, goes on STUDENT'S return. Don't use Box 1 or Box 2. Use what your client actually spent on qualified educational expenses during 2012. But, if a scholarship covered all qualified expenses, then there's little else to use for a credit or deduction.

If price is not your main concern, I love ProSystem fx. Also, the Ultra Tax salesman has been calling with great frequency, offering free NY, for instance. TaxWorks is owned by HRB and has it's own issues this year; although, if the rumors are true that HRB will use TaxWorks for its own preparation starting next tax season, then I imagine it will be much better. TaxWise is CCH, but haven't heard complaints. People love Drake, but I found it unwieldy for more complex returns; you do get everything in one bundle. Intuit has Lacerte, but I'd go with ProSystem fx or Ultra Tax in that price range. Intuit also has Proseries in more of a mid price range. I have colleagues that use it and love it. I heard that they don't have a conversion program that you can use yourself; you have to wait for them to convert your returns to ProSeries -- not good during tax season but probably fine for next year. Many web sites have a demo so you can see what feels comfortable for the way you work.

I've been saying the IRS says they expect to make 90% of direc deposit refunds in 21 days. I include the IRS Pub 2043 on top of their tax folder, that one-page outlining timing and Where's My Refund? site, to dump it back in cient's lap.

On January 9th, a group of Joliet, Illinois bikers were riding west on I-74 when they saw a girl about to jump off the Murray Baker Bridge. So they stopped. George, their leader, a big burly man of 53, gets off his Harley, walks through a group of gawkers, past the State Trooper, and says, "What are you doing?" She says, "I'm going to commit suicide." While he didn't want to appear "sensitive," he didn't want to miss a be-a-legend opportunity either so he asked ... "Well, before you jump, why don't you give me a kiss?" So, with no hesitation at all, she leaned back over the railing and did just that ... And it was a long, deep, lingering kiss followed immediately by another one. After they finished, George gets approval from his biker-buddies, the onlookers, and even the State Trooper, and says, "Wow! That was the best kiss I have ever had Honey! That's a real talent you're wasting Sugar Shorts. You could be famous if you rode with me. Why are you committing suicide?" "My parents don't like me dressing up like a girl." It's still unclear whether she jumped or was pushed.

I know HR Block has gotten fussy about who can take their courses, but they are outstanding if they are available to you. Your current skills should be an great fit with your wife's skills. If she's preparing taxes and has the accounting background to understand balance sheets and therefore entity returns; and you're doing the QuickBooks bookkeeping and OIC and maybe even some of the data entry for her, the two of you should be a productive and efficient pair as is. As you see what returns your business prepares and what your weaknesses are, you'll be able to pick courses for the off season. I'd strongly suggest studying for and passing the EA exam (for both of you, if you wife hasn't done that yet) to broaden your ability to offer representation for your clients. Good luck in your new career!

Yep, lots of CYA. My sister went through something similar to your experience, and hubby was sent home from pre-op due to anesthesiologist wanting him to increase his asthma medication before surgery. It's a real bummer to be "up" for surgery and then have to postpone and get "up" all over again. We'll keep sending you funnies to keep your spirits up.

Best wishes to you and to your entire medical team. Laughter will definitly help your outcome. We all know your attitude and expect the best from your surgery and recovery. Let us know if there is anything at all any of us can do for you.

Testing was suspended due to the court decision.

Eric, any of us would prepare your taxes, discuss your returns with you, whatever you need. You take good care of us. If you see a Maine address in the profiles, contact that person. Or, work with any of us electronically. TT should do the heavy lifting, the biz % of house expenses, the right amount for depreciation, even comparing education benefits. What it can't do is know what you really paid for education, so you will have to provide that amount. But, call one of us.

Sewer and water can be usage fees and not property taxes; if usage fees, not deductible on Schedule A.

Wonder who will be the first preparer who gets that call from a prospective client, or a long-time client saying they'll go to the guy down the street unless you guarantee the same results!!

Tell us where you live. Maybe you have someone you already know close enough.

eFile of New York State Individual Returns Dear ProSystem fx Customer: The New York State Department of Taxation and Finance (DTF) is issuing rejects R0147 and R0148 for "invalid prime signature" and "invalid spouse signature" for all electronically filed individual tax returns. This is due to an incorrect setting in their program. A correction is being made by the New York DTF, anticipated to be available by Wednesday morning, February 13, 2013. Until the correction is made, New York returns cannot be uploaded. We plan to resubmit any New York rejected returns and restore upload capability when the New York DTF resolves their issue. This issue has no effect on the federal returns. Online self-service help is now available. Find answers to your CCH questions in our Knowledge Base at http://support.cch.com/answers/. Sincerely, CCH, a Wolters Kluwer business

Last year we had winter storm Athena right after hurricane Sandy. I think we have competing namers now; though, as I heard Nemo from the Weather Channel and also heard Connie or something like that.

All those online services offer free estimates and only charge to print and file. No need to spend your time on a shopper. I remember being at Block when people would come in looking for an estimate. Our office didn't offer them, but if a preparer had time.... Generally, the people were just checking the results they got on a free file service or via Turbo Tax and were unlikely to become clients, and certainly not loyal, long-time clients.

CT also declared a state of emergency to allow only essential personnel to be on the roads. Schools are closed. Businesses are closing for Saturday already. We were told to expect to be without power for 72 hours. I'm doing as much laundry as I can. I took a long, hot shower this afternoon as I may not be able to take a shower tomorrow. We usually keep our temperature set between 60 and 65 depending on how sunny it is, but have it up to 67 now. Packing food into a cooler; trying to decide what vs what to leave in refrigerator and freezer. And, getting some work done in between checking the weather reports. I really have to have a generator installed. Stay safe, everyone.

I promised a partnership pro forma K-1s while we wait for the depreciation form to be approved, and a couple of other pieces of info like that for current clients this year. Now that we can file with depreciation, that won't be necessary any longer. Now, if I could just dodge this expected power outage....

Box 1 is taxable for income tax. Box 1 plus housing allowance is taxable for SE. I think the Sch SE amount triggers EIC, along with AGI. But haven't had a clergy person in some time and none that qualified for EIC. Does you clergy person also have a Sch C?

No. Well, current clients' kids, referrals, that kind of thing.

I read that on an IRS email I received. I was using depreciation as an excuse to postpone a couple of problem clients, maybe put them on extension. Now I'm going to have to start working faster!

My software has an option to use smaller fonts when needed.

I don't use Drake, but people have mentioned that you can use a forms-based entry that's closer to ATX but not the original Drake mode, so maybe you have to switch modes somehow...

Eric & KC, you take great care of us!