Lion EA

You're the best !! :D

Long ago I had a partner of a closed partnership that paid some late-arriving closing costs from his own checking account. I was with HRB then, so it was probably the Block hotline that told me to use Schedule E page 2 for UPE. Client stayed with HRB when I left, so don't know if he ever received any IRS correspondence. Now that K-1s are matched, that may no longer be the preferred method.

Suggest the corporation put in place an accountable plan expense account covering reimbursements for employee's business use of their personal vehicles. Employee turns in expense accounts based on standard mileage rate or actual operating expenses, monthly or whatever; corporation reimburses. Business miles only; commuting is not a business expense. Deduction for corporation; not income to employee. Until such time, Form 2106.

I bought CCH Site Builder, but not via ATX, so have had fast, responsive, excellent tech support from Chris and others. As Catherine says, the price has been climbing. I've gotten lots of emails from something like echilla or mochilla or ... saying lots of Site Builder clients have been moving to them due to price. I think Accountants World has web sites too.

With my more complex tax returns, I've been getting CCH's IntelliConnect. Pricey but worth it for my needs. On line, best of all within tax returns and jumps directly to the line/area I'm working in, mobile version is included, huge library of searchable info including the CCH explanations, tax code, government publications, Master Tax Guide, etc., emailable to clients, when I print a highlighted section it includes the source/cites, a great product but different animal than a quick answers-type book or CD. I've heard good things about the new Parker research from the old Kleinrock folks.

I use CCH's Site Builder. Love it's content that changes monthly. It's getting pricey, though. If you're building your own, then mine may not help you much, but here it is: DollarsSense.com

I have used both, including for at least one overlapping year to compare, as well as others such as Kleinrock Quick Answers. I now get TTB Deluxe each year. I also get TTB All States every few years. You might want to consider TTB CD or whatever their current format is, as it's searchable and has links to take you straight to IRS pubs and other sources. I also learn a lot on the TTB forum. I stopped going to the QF forum as it was not very active.

Don't know what it asks for CPAs, but I'm an EA and it asked for my number and expiration date. People have said if you leave out the expiration date, it stalls the registration. Call the Help number and make sure they know you're a CPA.

A CPA is a state designation subject to state regulations. The IRS accepts CPAs in good standing with their state, as well as lawyers, as eligible to practice before the IRS with no federal testing. Find complete details in Circular 230.

Tax Talk Today programs are archived and can be watched with and without credit; next live program is Tuesday 13 December. You can buy a package or show by show: https://www.taxtalktoday.com/

In CT, unemployment benefits paid to a former employee who worked there any time during the last five quarters will increase your rate on SUTA going forward. So, a company that fired for cause or has an employee that quit would have a good reason to argue against benefits being paid against their record.

Take care of yourselves, everyone, and especially NECPA and bstaxes Get healthy and stay healthy for the upcoming holidays and, probably, very rocky tax season. Happy Thanksgiving!

I'm going to raise my prices!

I'm lurking, just not posting. Still working on fiscal year clients, and three late clients, and a couple of corporations that have multiple prior years to file. Tax season doesn't end until today for CT and NY. Everyone else must be taking a vacation after this tax season that's never going to end.

If you have a high-deductible health plan, do you pair it with an HSA? It hurts to get it funded the first year, but you get some help at tax time. And once it's in the pipeline, each successive year feels smoother.

The LLC is a state entity, so check with the state's department of revenue services &/or secretary of state. In CT, pass-through entities must file a Business Entity Tax form with $250 to the DRS as well as their annual reports (fee based on which entity, $20 for SMLLC) with the SOTS. If they elected to be taxed as other than the default disregarded entity for a SMLLC, then they have the Form 1120 or 1120-S to file also. Of course, if a multiple member LLC, then a Form 1065 unless an election was made to be taxed as a corporation.

You can always watch the shows FREE and ask questions too or watch the archived shows free. But, it's a good price for CPEs which you can get from the live or archived shows on your own schedule.

Buy 2012 CPEs at 2010 Price Just For You – A Pre-2012 Savings Break on CPE Purchase In 2010, you purchased our 15 CPE Package for the 2011, 8- program series. For a limited time, we have a special offer for you to purchase the 2012, 15 CPE, 8-program series at a substantial savings. Purchase 15 CPE, 8-program package Only $187.50, or $12.50 per credit SAVE $60 from our Individual program price Your purchase will be valid until December 31, 2012 Click Here to purchase at Special Price Now is the time to take advantage of Tax Talk Today's Easy to Do and Easy to View programs at a great price. Archived programs and Live programs both qualify for CPEs. Click Here to see 2012 Program Schedule Reminder: Please use your remaining 2011 purchased credits by December 31, 2011. Your unused purchased CPE credits will expire after this date. UPCOMING LIVE PROGRAMS Service Lower Income Filers Properly Tuesday, November 8, 2011 2:00 PM – 3:40 PM ET 2 CPE credits In Debt? Owe the IRS? - How to Advise Clients Tuesday, December 13, 2011 2:00 PM – 3:40 PM ET 2 CPE credits ARCHIVED PROGRAMS Individuals: Complex Tax Issues Reviewed 2 CPE credits Small Business Filings – Expenses, Credits & Recordkeeping 2 CPE credits Family Filing – Do’s and Don’ts 2 CPE credits Ethics - Circular 230 Update 2 CPE credits 2010 Business Tax Law Update: Need-to-Know Changes 1 CPE credit 2010 Individual Tax Law Update: Changes In A Complex and Uncertain Time 2 CPE credits NAEA, Tax Analysts and Tax.com Tax Talk Today content is provided by: ____________________________ Tax Talk Today ® - The Tax Show for the Tax Pro is produced by Tax Talk Today, Inc. Copyright © 2011 Tax Talk Today, Inc. All Rights Reserved. The distinctive Tax Talk Today logo is a U.S. registered service mark of Tax Talk Today, Inc.

I think we have NAEA to thank for putting pressure on the IRS to keep e-file open after 17 October due to the many disaster areas with 31 October deadlines. They argued that it made no sense for the IRS to require e-filing and then not to have it available. So, we ALL can continue to e-file, but only qualified returns will avoid late filing penalties.

May I put Steve McGarrett's picture on my business cards?

Yes, our virtual water cooler has its own virtual office romance! The posts have been fun and creative. And, we see your handsome hubby in your family protrait avatar, so I don't think anyone jumped to a wrong conclusion.

Well, good, Catherine. We've enjoyed watching the "office" romance! (Not to mention that I myself do not use ATX any longer but have hung around to be with great minds.)

Hurricane Irene zone for me. I just received missing information from two clients. And three yet to show. Plus two completed for 2010 needing 2011 pro formas, one re taking more retricted stock before the end of the year and the other to make sure he's on track with w/h for IRS and two states. And, a couple of others missing in action that tend to bring a couple years at a time. Then I have lots of prior year returns waiting until November. Although, I go away for a week of classes in November.

Everyone has to renew before the new season. So you should be seeing lots of reminders from every professional group. If you applied via paper last year, you will get a reminder with information re renewing online.

Way back when I was at HRB, they told us we could efile if deceased the year prior to filing/same year as tax return but not if deceased in the year filing/after the tax return year. Don't know why. Seems like the SSA computers would have the DOD immediately, especially if receiving SS benefits.