Lion EA

Church activities can be great on that college resume. Often the school will actually add outside activities like that to the transcript if given written info from the church. If not, make sure it gets incorporated by his references, written into his essay, referenced in cover letters and thank you letters, etc. Make sure he practices a verbal example to use in interviews, maybe a short, a longer, and a longest version to use as the situation suggests. If a photo is requested or allowed, make it one from that mission trip or philanthropic project!

Was it actually Marketing or Cost of Sales (not COGS)? Too bad he memoed as Contribution. But if his intent was to make a Contribution, then that's what it was.

Know that you have a huge "family" and we're all standing right next to you in virtual space. We love you.

Don't forget to have him fill out a W-9 before you give him funds.

You might want to contact the NY/CT-ATP. You can find their officers at http://nyctatp.org

And those gifts to the regular pastor? Not 1099s, but include on his W-2. I agree that the unexpected visitor gets a 1099, box 7.

And, hugs to you, too!

Coming your way are prayers for Don, for you, for his new Hospice, your family, and his entire medical team.

I understand that sentiment. I drove my stepdaughter to before-school daycare on my way to work; my husband paid for his daughter's daycare. But, we couldn't take a deduction!

The childcare credit stays with the custodial parent even when he/she signs 8332 to give the dependency to the non-custodial parent.

I think you have to subscribe to their various e-newsletters to receive the various topics you choose. Whatever I did, it was so long ago that I don't remember how.

An email from CCH on Friday 14 September: CORPORATION (1120), S CORPORATION (1120S), PARTNERSHIP (1065), FIDUCIARY (1041) E-File Deadlines Dear ProSystem fx Customer: Based on your current e-fxNews profile, below is an item you may find of interest. Timely Filing of Corporation, S Corporation, Partnership, or Fiduciary Returns Timely Filed: To be timely filed, CCH must receive your returns before midnight in your local time zone, Monday, September 17, 2012. Rejected returns: 1120, 1120S, or 1065 Returns If the IRS rejects any of your returns, you have 10 calendar days to resubmit the return and obtain approval from the IRS. 1041 Returns If the IRS rejects any of your returns, you have 5 calendar days to resubmit the return and obtain approval from the IRS. States: Based on information received for Partnership returns, the following states do not conform to the IRS 10-day perfection period: New Jersey rejected returns. New Jersey allows five (5) business days to resubmit rejected returns and obtain approval. New York rejected returns. New York allows seven (7) calendar days to resubmit rejected returns and obtain approval. Pennsylvania Form PA-20S/65 rejected returns. Pennsylvania has no defined perfection period. They must be filed and approved by the due date to be considered timely. Based on information received for Corporation and S Corporation returns, the following states do not conform to the IRS 10-day perfection period: South Carolina rejected returns. South Carolina allows twenty (20) calendar days to resubmit rejected returns and obtain approval. Maryland and Maine rejected returns. These states allow five (5) calendar days to resubmit rejected returns and obtain approval. New York rejected returns. New York allows seven (7) calendar days to resubmit rejected returns and obtain approval. New York City, Pennsylvania Form PA-RCT-101 and Tennessee rejected returns. These states have no defined perfection period. They must be filed and approved by the due date to be considered timely. Based on information received for Fiduciary returns, the following state does not conform to the IRS 5-day perfection period: New York rejected returns. New York allows five (5) calendar days to resubmit rejected returns. In order to resubmit electronically, the federal return must also be rejected. Paper returns: If the IRS rejects any of your returns and the return does not fall into an e-file mandate and you choose to file a paper return, the deadlines are as follows: 1041 - A paper return must be filed by the latter of the due date of the return or ten (10) calendar days after the date the electronic portion was rejected. For example, a return rejected on September 17, 2012, would be due September 27, 2012, if filing by paper. 1120/1120S/1065 - The paper return must be postmarked by the latter of the due date of the return (including extensions) or ten (10) calendar days after the date the IRS last gives notification that the return was rejected. If you have any questions, please call ProSystem fx support at 1-800-PFX-9998 (1-800-739-9998). 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 Manage your e-fxNews subscription: Edit | Unsubscribe

Congratulations!

Take a deep breath before you begin. Imagine yourself answering questions of a client sitting in front of you. You'll do fine!

Jack knows!

Age and experience wins out over...

I'm sure Joel and everyone on this board got 120 correct answers and a perfect score!

Congratulations!

Does the letter include the 2010 date as the date of the gift in the opinion of the school? Or, does the letter have only 2011 dates?

I have had current on my middle monitor with prior on the left so they appear chronologically. When possible, I open the .pdf of the prior year to look at it. Sometimes I need to open the prior year software to see how I did something, where I entered it; but I close it as soon as possible.

The wife's percentage of the profits will appear on her K-1 whether she leaves her profits in the partnership or takes distributions. The husband's GP as well as his percentage of the profits will appear on his K-1 on two different (or more, depending on the types of income) lines.

Do you mean Guaranteed Payment?

There are three trusts and a foundation return, as well as the personal returns, of the Romneys on their website. Well, all as filed for 2010 and pro forma individual only for 2011. I don't know how you'd compell a partnership or other entitiy that includes non-Romneys to release their tax returns. The thing I find interesting is that the Romneys are stating their effective tax rate. My clients usually talk about their marginal tax rates. "I'm in the 25 percent rate, right?" "I'm no longer in the 25 percent rate after my last raise." So, they think 13% sounds pretty low. I have to remind them that their effective rates are 6.9% or 11% or even 0%.

Not positive I'm thinking correctly either. You prepare the return that begins during 2009 on 2009 forms. If it's an S-corp, you let the K-1 recipients know that they will report on their 2010 returns, the year the corp fiscal year ends. The corporate return has a place at the top to put the beginning and ending dates when a fiscal year. (If you think of a currently ending fiscal year, the forms for next tax year are not out yet; so it's easier to realize you need the forms for the beginning of the fiscal year.)

I've seen explanatory letters arrive a few days after unexpected checks. Do go on e-services with a POA.