Lion EA

Bump

Client put a new oil tank in her home. She runs a violin studio from a % of her home. How long do I depreciate the oil tank? 7 years? 27.5 years? 39 years? Other?

If you're an EA, CPA, etc., you don't have to register. Here's the link so you can read the qualifications and register if you have to: http://www.tax.ny.gov/tp/

True, I should have included on the minister's wages after The church can NOT withhold FICA/Medicare, but didn't since this thread is about the minister and it was late at night and my very new, very expensive Dell that was dead all of March is dying again. Good morning!

The church should issue her a W-2, and they can withhold income taxes at the minister's request. The church can NOT withhold FICA/Medicare. If the minister is subject to self-employment tax, she will report it on her return.

Not in NY but CT with several NRs. I efiled my NY extensions. If not a resident of NY City, then no City tax, just state. Don't know about CA, but for CT residents they take the credit for taxes paid to another jurisdiction on their CT returns. If a NY resident, they can take a credit for taxes paid to another jurisdiction on their NY return, a form ending in R, but that doesn't sound like your situation. Probably some NYers will respond Sunday.

I think you need the 8879 for those with direct debit of their balance due with the extension ONLY. Most of mine insist they do not owe, so I e-file extensions. Or, do owe but want to mail in a check, so I give them the extension forms to mail in with checks.

Finishing up five returns for a family (two trust funds and two kids with kiddy tax). Then on to a woman with two trust funds as well as her individual. And, maybe one more individual for a self-employed violin teacher. Everyone else who arrived late (or needed extra research) is already on extension, including myself. Daughter has a concert tonight up in Hartford, so won't be working after mid-afternoon today. By the way not all states honor the federal 18 April deadline for all returns. Friday I was checking on CT deadlines for things like 1Q ES payments and saw the deadline remains 15 April for CT OP-424 Business Entity Tax. Couldn't remember paying my own, which I pay when I get the mailing from CT. Couldn't find any record I paid nor copy of any mailing, so called CT and learned I paid 2009 but not 2010. Too late to pay online (24 hours before the 4:30 p.m. close of business) and had already sent hubby to PO, so ended up paying via credit card where I have to pay that convenience fee. Oh well, the $6 or so is cheaper than the CT late fee of $50. And, I set up for a reminder next year for 1 April. Guess CT is saving money and not mailing the forms anymore. Now, they can get an extra $50 from small businesses! Happy weekend.

RETURN PREPARER OVERSIGHT NEWS Glory, Glory Hallelujah! Our long wait is over. Final regulations on the EA/ERPA user fees are arrived! The final regs should be published in the Federal Register on April 19th. Please remember, however, that the renewal window for EAs currently in cycle (i.e., those with social security numbers ending in 4, 5, or 6) will not commence until 30 days after publication in the Internal Revenue Bulletin (not the Federal Register), which should be May 2nd. Therefore, the renewal period will commence on June 1st and conclude on August 30th. IRS expects to process the applications and issue enrollment cards within 90 days of the end of the renewal period (by November 28th). The renewal will be retroactive to April 1, 2011 for EAs who fall under the provisions of Announcement 2010-81 (and who properly renew their enrollment prior to the end of the adjusted renewal period). This information is all available in Announcement 2011-29. Conversations with OPR lead us to believe that EAs (and ERPAs) in cycle should expect a letter from OPR. We should also see new information on the OPR portion of IRS' website, so you may want to be on the lookout for that. While the new Form 8554 should not be available until June 1st, the revised Form 23 (application to become an enrolled agent) may be available within the next week or so. As we've shared previously, those of you in cycle will continue to be considered an enrolled agent in good standing even though your card indicates a March 31, 2011 expiration date.

National Association of Enrolled AgentsBreaking news: NAEA just received word that #EA User Fee Regulations will be published April 19! Read more in tomorrow's E@lert!

Most of my extensions are going via MEF, so no DCN prints. Last year, it printed something about Modernized...; but his year, nothing prints. In my ELF Center, I see the long Submission ID and can print that detail for each client or export a list. Makes it more confusing about what to keep and how to file it to follow e-file rules.

The latter. Age doesn't let you off the hook. Unless you're not aging anymore.

Try John Rosa, as well as John King and John Martinez. I had a brit with two middle names; SSA knew him by his first name and one of the middle names. The new cards are supposed to break out the last name on it's own line, but that doesn't help us with anyone who's not a baby or new cardholder.

Frequent happening! And, thank you for sharing your findings with us. Saves the next one of us from reinventing the wheel.

Maybe your computer was off by 12 hours. Watch what date ends up showing this afternoon.

I'm waaay beyond sizzle lightly. I was well into fried long ago!

"Can't you look that up on your computer?"

Can't take the credit. TTB suggested Pub. 502. Glad it did the trick!

I'm pretty sure that travel to receive treatment as well as travel for a needed companion is deductible as medical expenses, but don't know where to tell you to look to confirm that. Did you try Pub. 502? TTB 4-7 doesn't say airfare is, but does say travel is not if for purely personal reasons to another city for medical care. In your case, the patient went to a medical center that was specifically recommended for their condition.

$3.95 in the next town, but for cash, not credit.

I'm in!

Ouch! Glad no one was hurt. Hope you have a big, burly, scary-looking receptionist/bouncer.

Just finished one where she stapled all paper work to the envelope in which it came. Can't imagine why. She didn't do that before. And, been getting a lot of plastic sleeves, the kind you'd use to protect a page, with holes to put in a notebook; but they're using the sleeve like a folder to hold all their tax documents. Seems to be a new technique this year and used by several clients.

I don't use ATX. My software chooses the best for each situation, or I can force. For instance, here in pricey CT most of my clients do better itemizing for federal, but the NY commuters often do better with NY's standard deduction. So, my software does the math and files Schedule A with the federal return and takes the standard deduction on the NY. I just glance over the returns and e-file.

Yes, you are looking at it wrong. If she had any capital gains, you would net ALL of her carryover against her gains up to the amount of her gain. Then if she still had excess carryover, you would use up to $3,000 against her other types of income. In your case, you are netting her carryover against her capital gains, but that is $0. Then you use up to $3,000 against other types of income, showing ($3,000) on her return. You cannot use MORE THAN $3,000 against other types of income.