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Lion EA

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Everything posted by Lion EA

  1. Our church started paying the rector's land line telephone bill in the rectory, at the rector's request. Do we need to put his personal use amount on his W-2? He felt it's like the other utilities that the church pays for the rectory.
  2. The VMS guys offer backups, too. Mine goes automatically at 3 a.m. every night. That's in addition to my external hard drive and flash drives and.... One problem with being a home-based sole proprietor is that I had no easy place to store a backup away from my home office. Bank safe deposit box isn't available 24/7. So, VMS up in Maine is great for me.
  3. CCH scans your documents and put them in tax return order. If you add the Fill program, it loads them into your tax return.
  4. I like the new IntelliConnect by CCH, but you'd have to decide if it's worth the money. For quick research, I use The Tax Book.
  5. Aren't all the W forms just plain paper? We still have to use the red forms 1099 and 1098.
  6. I heard someone say $175 but don't know personally.
  7. I've used the following when the partners DID report on their personal returns but forgot !! to mail their partnership return: All two (2) partners, NAMES & SS#s, reported all their shares of income and deductions timely on their joint income tax return Form 1040 even though the Form 1065 for PARTNERSHIP NAME, LLC, 06-XXXXXXX, was late. Therefore, the partnership meets the criteria specified in Rev. Proc. 84-35, which says in part: “A domestic partnership composed of 10 or fewer partners and coming within the exception outlined in section 6231(a)(1)(B ) of the Code will be considered to have met the reasonable cause test and will not be subject to the penalty imposed by section 6698 for the failure to file a complete or timely partnership return, provided that the partnership, or any of the partners, establishes, if so required by the Internal Revenue Service, that all partners have fully reported their shares of the income, deductions, and credits of the partnership on their timely filed income tax returns.” We trust that you will remove the penalty due to reasonable cause for small companies.
  8. I find going directly to e-services fast and easy and absolutely free. Don't forget they have an e-help desk for your telephone support, also free.
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