Lion EA

But, he's not lowering his salary to save someone's job or to save the company, he wants to take a lower salary so he can take higher distributions. I realize that he has a strong personal reason for doing that, but does he have a business reason? If his only reason is tax avoidance, do you want to sign that return?

A very [And, it's nice to see Billy as our official greeter, again!]

I too sometimes leave it out of the government copy after preparing the balance sheet. But, that's usually because I'm not convinced the client did what he said instead of what's necessary for a "balancing" entry -- not me, I didn't take any money out of the company...

If you lowered the salary for any other employee, would he remain with you for long? Still be productive? Do you have a business reason for lowering your own salary? If you do something for tax reasons only and not for a business reason...

Wow, that's brilliant, Zeke!

it was soaked in milk, I think, as part of the preparation, and grilled on the bar-b-q outside, and eaten in a bun.

all the warnings scare me

Also, limits on amending from MFJ to MFS...

We've been having ice storms. All the gravel is scrapped away from my driveway; it'll be treacherous for clients. And, with the branches heavy with ice and snow, the power keeps flickering out so I lose computer, telephone, etc. Not to mention that hubby the teacher gets delays and snow days and is underfoot and playing havoc with my schedule! It's going to be a long winter.

What was it that I ate in CA? Tripas or something like that. Cows' intestines?

I like to fill out the L. Most of my clients don't have a balance sheet, except an inaccurate one in QB. Filling out the L turns up all sorts of information. If it doesn't balance, did money go in or out? Then, you know what questions to start asking. Besides, when they sell assets or sell the company, you need some of that information that your client hasn't been tracking!

I learn something new -- or two -- every day! Thank goodness. And, thank you all for sharing.

I did the export/import thing the year I got a new computer to get the prior year returns there for rollovers. I exported the prior year returns to a flash drive, ran upstairs to my new computer and did an import. Now, I'd installed the prior year program as well as the current year program on the new computer before importing the returns. It was quick and easy and worked perfectly. In fact, it worked so fast that I decided to move even older years' returns, too. All done in minutes.

Thank you for the information.

A very :bday:

I'm about as computer challenged as they come. However, I have heard people tell me I need to disable the Windows firewall if I'm going to use another firewall, that Windows firewall doesn't play nice with others.

You're very perceptive, Margaret. That is a big problem with her refrigerator. My 1960's house has limited space in the never remodeled kitchen. Refrigerators have gotten larger over the years, but my kitchen has not. There are like only two refrigerators in the world small enough to fit underneath the cupboard, in the only floor space available, and not block the door too much. Her bill increases every time she calls me! Last year I called the line item something like Research & quarterly organization/calculations. She actually comes back each quarter to write out her checks for ES payments; afraid she'll lose her vouchers or something. Of course, we have the same discussion about why she has to pay again when she only earned a little money early in the year. I remind her about the alimony. She's a good gal but never dealt with the family's finances and has no desire to learn. I wanted to charge her quarterly so it'd be a smaller amount, but she doesn't bring an extra check and would never get it done at home. I find all kinds of important non-tax items (her car insurance card that should be in her glove box) in the sacks of financial paperwork she brings me quarterly. So, I just add line items to her tax preparation bill knowing she'll have a check for me or her credit card when she picks up her returns. She is appreciative. A big thank you to everyone on this board. As Margaret said, I get much insight, support, and many suggestions here whenever I come seeking advice or just a place to vent. May you all find the same. A very happy new year and prosperous tax season to all of you.

I do get tired of saying that Jainen is right, but I like his idea about the refrigerator. Mine was from 1975 when I bought my first house in CA, and it came across the country to CT. I think the only thing keeping the motor running was all the refrigerator magnets. I was afraid to remove any. She left me a message saying I should call her lawyer to tell him her tax rate!

Won't they be the same servers you do not want to use? Same parent company. What did tech support say when you talked to them about the demo?

Now she's got Jainen calling her alimony a settlement, too! I just don't understand how she can be getting $60,000 and then $120,000 alimony during the last half dozen years and then instead of continuing at $120,000 for another decade she can get $300,000 for the next three years instead and turn it into a tax-free settlement. I have trouble getting her off the telephone and am tired of listening to her whine about how her Sub-Zero refrigerator is out of style and must be replaced with European technology, but I guess I have to call her. She doesn't have anything in writing yet from her expensive lawyer, but Jainen is right that I may as well read it sooner rather than later since I'll probably have to talk with the lawyer to have him explain where he found his tax cites.

A very :bday:

I'm very nice to her; I charge her a lot for my time. But, I bang my head against the wall when she tries to get legal advice from me. I guess I should be shaking some sense into her instead, but she's usually on the telephone instead of in my office. I have more trouble as time goes by being sympathetic re her money troubles. (Her renovations to her new "cheap" house cost more than three times what I paid for my whole house.) But, I did suggest she engage a lawyer if she was going to try to negotiate with her ex, and she did. What will constitute due diligence on my part when she comes to me with her tax information and says she no longer has to report her alimony? This new automatic six-month extension seemed to create a tax season that never ended for me. Add a few who got behind and came in after 15 October with one or two or three years, and I still have a stack of 2005-2007 returns on my desk. Before, so many people finished by 15 August that the fall did slow down and gave me time to catch up on bookkeeping and taking courses. A client e-mailed me today about sending me his partnership QB file. I was swamped mid-February to mid-April but busy all year long now.

I'll bump this up so more people see it as they return to thoughts of taxes instead of holidays.

Jainen, I know about the three-year rule, but she's been divorced since prior to 2004. Until their house sold, she got to live in the house and received $5,000/month in support. Since the house sold, she receives $10,000/month. She wants to increase that for two or three years and be done with her ties to the ex sooner than her divorce decree states. So, we're talking about her support increasing a second time and not decreasing until at least 2011 or later. She's been spending her money on lawyers and finally found one who said he could get her money sooner and have it be tax free. Of course, her ex wants to pay substantially less than she's proposing, so the only one benefiting so far is the lawyer. And, she has two sons with the ex, so the ties are still there while her sons are around. I think I'll tell her to talk to her therapist instead of her lawyer....

Try posting in the larger forum with a heading of Peachtree W-2s or something descriptive. You need a specific type of responder. Also, try a Peachtree-sponsored message board.