Lion EA

We don't work, we don't get paid.

A very :bday:

A very :bday:

I use e-Fax and they've been advertising an e-Receptionist that will relay calls to other numbers or put them through to voice mail or otherwise sound like you have more associates than you do. Maybe that's what you have in mind. The next time I see an ad, I'll post the link.

Not on Long Island.

And, if client moved in or out of NYC.... Take Mike up on his offer to review. Nothing like a New Yorker to look over your shoulder on your first NY return!

It's a doublewide with a stickbuilt double garage on 2 acres of land (4 acres, don't remember) that she bought for about $135,000 a few years ago from the original owner. They've added hardwood floors in halls, baths, and kitchen, and carpeting in all the other rooms and replaced the refrigerator and maybe the washer and dryer. They've redone one or both baths with new tile countertops and sinks. They've repainted inside and out. The garage also has an upper deck for storage. Even in a falling market, it couldn't have lost value with their improvements. Oh, yeah, new lighting in the kitchen and baths and maybe some other rooms, too, and I think they worked on the mud room/laundry room/kitchen entrance and put up siding/wall treatments in the den. Don't know what she's asking for it but did have it on the market with a local realtor recently. 10% of the sale won't prohibit the sale, but it's one more reason plus the reasons they have for wanting to get the commercial property into her name instead of his if she's going to make use of it anyway that might help the sale make sense before 30 November. They can keep it in the "family" and make $8,000 less closing costs to add to their savings for the bakery or sell it on the open market for a profit and maybe have more money to build a bakery/apartment but have to live with her parents while building. As you mentioned, if the house hasn't appreciated over $8,000 net of realtor's commission, they're better off with the sales and purchases between themselves -- not to mention the fact that they still have their house to live in. Aren't 20 somethings fun?! At least they aren't borrowing money from us. But, all those free PA/NY tax returns are time consuming.

Right off the Merritt.

My son is considering buying his girlfriend's house to get the FTHC. (He owns some commercial land that girlfriend wants to build a bakery on, so they each have a good reason to make these sales and purchases.) When girlfriend bought the house, the realtor said she did not qualify for FTHC due to the doublewide having no foundation. She bought the house about 2005, so it would not have been the federal FTHC the realtor was referring to but might've been a local or PA incentive. She has been paying real estate taxes on her home (is going to confirm that it's not personal property tax). It's been solely owned by her and insured and resided in since December 2005 or so. Son has lived with her but has no ownership interest; rented in Philly prior to moving to Lakewood and never owned a home. He purchased raw land in Hancock, NY, a year or so ago but hasn't been able to afford building on it. Girlfriend wants to buy it to build a bakery (she's a chef). She could buy his land if she can sell her house. If he buys her house and gets the credit, they'll have money again after paying all those closing costs and he'll still be a landowner and they'll still be able to live in the house they've been fixing up. Everybody seems to get what they want IF he can get the FTHC on a doublewide without a foundation. Anybody know for sure?

Congratulations, Deb. It feel good to get that first one under your belt. Raise your rates now.

But, you know I'm somewhere in Fairfield County, CT. That's even more specific than Southwestern Ohio! Hey, anybody going to the CCH Users' Conference in October? I'll buy you a drink there.

I use a different color for each year. Last year, several clients requested green for this year. But, I got to only one Staples while their penny sale was going on, so have only 20 green folders so far. I don't use labels except for foil "year" ovals unless preparing multiple returns for the same family. I just have a post-it with the name and date for my purposes until the client picks up and I remove the post-it as I hand them the folder.

Congratulations, Deb! And, I poured the drinks; but none of you showed up. I'll have to drink them all myself... :spaz:

A very :bday:

A very :bday:

Thank you! :spaz:

THAT WAS 1,000 !!! :D

I thought ATX was a spreadsheet based program. Can't you export to Excel? I use ProSystem fx and can import Excel spreadsheets into most places and export to Excel from most places. However, I agree that CS probably provides a conversion program or will convert ATX returns to Ultra Tax. And then, the new owners can do whatever they usually do to export the depreciation schedule or detail from CS to Excel.

A very :bday:

A very :bday:

I'd used ATX at Block and on my own and evaluated Proseries. It depends on what's high on your priority list. Proseries is a stronger program, but ATX has more forms and a lower price. They have different data entry requirements. You'll have to work with the demo to see which is better at the things you need/want most and whether you can live with a shortcoming or two if those are low on your priority list. Try out ATX, and bring us your questions. What may seem like differences or shortcomings at first might just be you going up the learning curve. The people on this board can speed up that process for you by helping you with how things flow, how to navigate the menus and how to do the bunny hop.

I love all this sharing. Great ideas here. Thanks, everyone, for joining in.

I spent some time using the folders with the hidden staples. It worked great for a very specific number of pages, but the paper slid all over for fewer or more pages! I kept thinking it was me and tried different staplers and staple sizes and used paper with less of a sheen. But, it took me so long to put each together and the two-pockets can be found on sale for a penny. I finally gave up and went to the two-pocket folders. I put a sticker with the year on the outside. I don't do any other labels on the outside. I use a post-it with the name and the date of their appointment or drop-off but take that off as I present the folder to them at their final appointment or pick-up. Well, sometimes with multiple returns for one family I might make up labels for the outside.

I do the 1 cent folders at Staples, too. This year it's green. But, instead of a full week, they were on sale only Sunday through Wednesday at 20 per customer. Now, I get my husband and daughter to stand in line, too. But, the second store I went to had NO green. I may have to pay full price! Then I buy metallic oval stickers with the year on from M&C; think I'll use silver dates on green folders since last year was gold on yellow. My clients like the color-coded years. Several requested green for this year, so I'm trying to find more green. I buy a few in the same color but larger plastic/vinyl for my businesses and fatter returns. And, a couple in a complimentary color when I have multiple returns in the same family. All of them have the "cuts" to hold my business card.

The Summer 2009 issue of Taxpro Journal by NATP has an article on The Foreign Earned Income Exclusion and Form 2555 and includes an example with the corresponding filled-in form. It reinforces what Jainen told you. Boldface in the Taxpro article: "Foreign earned income does not include pay the taxpayer receives as an employee of the U.S. Government or an of its agencies."