Lion EA

And, a SIMPLE for partners in a partnership. How does the employee/employer parts work when there are no employees, only partners? And, why are these coming out of the woodwork this close to 15 April?!

The Minnesota legislature recently enacted legislation to conform with the December 2008 Internal Revenue Code, including certain bonus depreciation provisions. This legislation will be retroactive to January 1, 2008, pending the governor’s signature. In reaction to these legislative changes, the Minnesota Department of Revenue has announced that effective April 7, 2009, Minnesota will reject Individual electronically filed returns that include Form M1NC, lines 3-15. Release 2008.03041 contains these legislative changes for the 1040, 1041, 1065, 1120, and 1120S programs, and is tentatively scheduled to post the evening of Monday, April 6, 2009, to coincide with the Minnesota Department of Revenue’s Individual electronic filing changes. Affected returns should be recalculated on Release 2008.03041 and submitted after April 6. Scans will be available the week of April 6 to identify affected returns in each system. Sincerely, CCH, a Wolters Kluwer business

LLC, two member H&W, taxed as a partnership. Can partnership contribute to HSA? Have gone through this with employees and have just confirmed a SMLLC and how it works, but what about a partnership? Does partnership contribute to HSA and then include on K-1s? Then partners deduct on 1040? Or...? Thanks for all direction.

I lived in Santa Barbara during the 70's, in case you needed any more trivia. I never rode Diablo, though.

Another marriage penalty.

Oh, Pancho. Oh, Cisco.

I have too many. Don't think I'll get the ones I promised. And, I began telling clients they were going on extension 15 March! But, I had a huge amount come in early March. All are bigger than prior years. Three have had corrected brokerage statements arrive. Three have called to ask how to work their HSA for 2008 and never had HSAs in prior years. Three have started new businesses. Three are brand new clients not in my system. They don't fit on the book shelf I use for my active files any longer. Those that used to come in big fat folders now arrive in big fat binders. I'm exhausted. I tried to talk a couple more into extensions, but no takers. If anyone is bored, I can put you to work and house you in my guest room...

Did you check with Kyle/Kerry and their crew? Kyle had a very nice techie Susan get my printer printing again.

Wait a minute! That means Kyle's a double agent. You guys have too much time on your hands in these long winters! Come down to CT and help me prepare fifty more returns by the 15th. That'll keep you out of trouble!

How many people e-mailed you?

Don't even JOKE about it. It was too short a time ago to not still smart. We'll send you barbeque, Eric. Or, would you like my first born? Eric, how could you encourage him?!

You still have your mind?! I can't find mine any more. Think it's under a stack of returns, or laundry, or dust bunnies, or....

Being way over there in Pittsburgh, if you find yourself with many Ohio clients, it might be worth the savings in time to spend on software that will perform as you wish. During the off-season, look at demos that might fit your needs. Maybe, you could buy as pay-per-return for that subset of your clients and keep ATX for less complex clients.

Now I understand why Catherine's clients pay close attention to what she says!

Yes it does, Catherine. Thank you. My All-States book is five years old, so was hoping for a change; but that's what it says in my old book too.

Bumping myself up...

Congratulations! :read:

Same girlfriend I'm trying to get filed to fund her IRA. She's a PA resident with PA income and one W-2 from NY for $727.50 and NO withholding, 414H of $22.50. Does she have a NY filing requirement? Income from all sources less than $30,000. Before I call up a NY return on my pay-per-return and can't get it refunded if I don't need it!!!

Thanks, KC.

Did I mess up? Son's girlfriend likes to contribute to her IRA with part of her refund using Form 8888 or whatever that is that splits her refund into more than one account. We've been doing this for some time. I've had her near the bottom of my much too high stack of returns to prepare. Did I wait too long? Where can I read the last date to e-file her return and still do what she wants? Help me keep my family happy!

NY instructions in your software or online has a list of codes. Fill out the PY information for him; your software should do the rest. You'll have to view the return to check for reasonableness.

The plans are owned by the donors. The daughters are the beneficiaries.

Or, to make payments from joint accounts or to keep payments matching ownership of asset or...

Sometimes only one name prints on the 1098 but both are on the mortgage. You'll have to ask your clients. Or, explain the rule to your clients and have them tell you who qualifies to take the deduction -- in writing. Is this couple divorcing, or just filing separate?

She has to be legally liable for the payment, as well as make the payment, to deduct the payment. She can give him the money to make the payment if he is liable for it; then he can deduct it. Are not both names on the deed and the mortgage?