Lion EA

Page 3 has the exceptions and code numbers to use: http://www.irs.gov/pub/irs-pdf/i5329.pdf

Don't know how to report. But, do know that guaranteed payments should be designated in the operating agreement, something like $/month, or cost of health insurance, or 5000 miles on company car, or.... So, maybe distribution to partner. Probably have to use actual expenses and not SMR. Does partnership own vehicle? If partner owns, then an accountable expense plan and partner could use SMR.

The firm (Concierge Choice) giving a presentation to us patients said that a fee to be eligible for concierge services would not be a medical deduction as it's an administrative fee. However, if the annual fee covers, for instance, a physical exam or other medical services only offered to concierge patients, then the fee is a medical deduction. Not that I'd trust such an administrative service to prepare my taxes, but their nationwide legal department provides a jumping off point for futher research.

Expense it as an annual license.

If one employer, your client needs to get the money back from her employer. If multiple employers and she exceeded the max (doesn't seem to be her problem) then the refund happens on the tax return.

His residence remains OH unless he has done something to change it; he'll file as an OH resident. He can use whatever's most convenient as his mailing address. (Don't be surprised if NC sends a letter if he uses NC as a mailing address. But, you should be able to respond easily.)

Copy it from your browser while you're here. atxcommunity.com

I think you have an extra month if you are efiling Forms W-3/W-2 or 1096/1099 instead of mailing them, end of March instead of end of February, 2 April 2012 due to weekend.

Yes, for when KC lurks for a little R&R: we love you and send our prayers and warm wishes to you and to your husband.

You do not need to send 1099s to corporations. You can, though. Nothing new.

Of course, you still need to return the original documents your clients gave you. (As many times as I ask for copies, I still get lots of originals except from those who send to me electronically or via fax.) Pretty folder in the mail for those not close enough to pick up? I got the $24,98 price on a case of copy paper at Staples early this year. Have about three reams left.

I should push that more. Clients have complained that they have a poor printer at home, whatever, and prefer paper. Gotta try that more this season. Do you send to the client electronically or burn to a CD or...?

Two computers ago I was still using ATX. Then, the knowledgebase article had me install 2010 (in your case) on the new computer and then do an export of the 2010 data file to a flash from the old computer and the corresponding import to the new computer. Check the knowledgebase for the latest technique.

I have been buying when the price is good. Also use my husband and daughter to go through check-out lines when limits apply! I'll be buying before this season is over, so that's why I was asking for opinions. I'm definitely leaning toward cheap for everything. (I did buy a faster laser printer with a small footprint that prints black only, so have the better paper in that for returns and don't need to change paper in my older huge, noisy laser that prints in color and gets used for everythng except returns.) I accidentally bought a case of copy paper on sale, which my laser instructions said not to use and which the paper said not to use in lasers, but used it in my huge printer anyway. Much more dust in the laser and jams in inkjet fax. Have you had any problems running cheap paper? Printer repair bills wipe out any paper savings?

I've been using a nicer laser paper (on sale) for client copies, items they sign/touch, etc., and the cheapest paper on sale for anything I have to keep, personal printing, etc. With the price of paper and the fact that I'll need to stock up soon and haven't seen any good sales in months, I'm re-evaluating my former process. I know some clients throw their folder in a file cabinet and never touch it again. Others pour through it line by line and call/email with new questions or thoughts about the next year. Some take extra copies I print to mortgage brokers, etc. With the lively discussion on client packets, thought I'd ask for your opinions on paper....

For Square or other credit card swipers that fit a smartphone, you download an app. So, not too likely to do that on a client's phone. But, you could on your netbook, iPod, tablet, Nook, etc. Really only matters if you do returns at your clients' homes. I just type in the info in QB without a swiper for those who want to charge. I pay for a data plan for my iPhone on AT&T. However, with other family members getting a base price of $9.99, we pay a great price for three phones.

I put files on FileShare on my web site for clients to download, sign, and return to me via FileShare or however they choose.

I really, really do not want to be called an Auditor!! :rolleyes:

Don't have any who chose to use the exception, but wasn't a recent year -- 2010? -- allowed to skip RMD?

MEF

After being sent all around the IRS, it seems the best number to call is the Forms & Pubs line at 1-800-829-3676 and ask for a supervisor. I eventually reached someone sympathetic who thought discontinuing the E-File Marketing Kit was counterproductive to the IRS while urging and requiring e-filing and sounded like she would pass along my concerns to her bosses. NAEA: mailto:[email protected] NATP: [email protected] Our IRS Liaison in CT wrote: "Even I am reduced to contacting a generic internal IRS email address when it comes to forms and publications and even more unfortunate is the fact that the email address has been like a black hole of late. I guess you could say that the IRS Forms and Publications division is my Kryptonite."

I've been looking for a specific contact. In the meantime, I'm contacting NAEA and NATP. They have goverrnment relations liaisons that work on our behalf.

I did the research a year ago, so don't have the cites handy. Examples for directors/board of directors were quite specific, though. Besides, as a practical matter, with such sporatic useage, any potential OIH would fail the exclusive part if not the regular part of regular and exclusive use (unless the "office" sat empty 300 days per year), denying an OIH deduction for preparation and thereby also denying any travel as tax home won't be in FL but in CT. If you have some cites for me to read, please give.

I would've put the appropriate part of my tax prep fees on schedules such as C. I have a retired banker who's now on their board of directors. In researching, his income rises to "conducting a business" and needs to be reported on a Schedule C. But, his expenses are not "regular" enough (six times per year flying up from FL to CT and driving across state for board meetings, maybe a few hours the day before reviewing materials) to be deductible as business expenses on his Schedule C. Not fair, but that's the way I understand it. Also have some teachers who proctor SATs and such, receiving Forms 1099 but having no expenses. Same when they tutor from their kitchen table on Saturdays leading up to those exams. Not that unusual for me to see a Schedule C with little or no expenses. Now, if my clients were in EIC range, or otherwise qualifying for credits by that extra income, I'd really look into them.

I should've posted more in the off-season to get up to ATX Surpreme Guru for this season!