jasdlm

Agree with Tom. While I think it is important to keep up with technology, and clients expect the same, the tech costs in my office keep growing. The cost of the towers seem to be the least of it. The server maintenance, software for the server and the machines, IT support, etc. can really add up.

I got a handful of those, too. Just re-sent the states today. We'll see what happens.

I have been a member of this Board (and it's predecessor) the entire time I have had a practice. I think those who have known me during that time will agree that I don't 'sound off' or say things that are critical of others, but I am compelled to end that streak today. In my mind, the topic of this thread (and the fact that KC had to post it in the first place) threatens the very essence of this Board. We provide invaluable advice to each other as colleagues. We support each other through tax and business challenges. We have also, however, been through deaths, illnesses, personal crises, weddings, graduations, birth of children/grandchildren, etc. I know as much about many of you - rejoice in your joys and cry with you in your sorrows - as any colleagues I have locally. It is the relationship that allows me the safety of asking questions about tax situations and trusting the answers. It seems to me that every couple of years someone relatively new to the board tries to rock the boat. I am at a loss to understand why. I remember several years ago when a few new people complained because Jainen was too blunt in some of his answers and it hurt their feelings. Jainen left the Board for what felt to me like a long period of time, and that was an incredible loss to the community. Jainen had bluntly pointed out my errors a couple of times. I deserved it; I learned from it, and I'm a better preparer for it. I bring this up because it appears that now someone is trying to shut down KC's posts, and i fear a similar loss. Who do you people think you are? If you don't like the community and its structure, find another! Positive suggestions for the betterment of everyone? Great! Whining because long-time, incredibly knowledgeable members don't do things the way you would - not so much. Please respect what is here and has been cultivated over many years. If you don't like someone's posts, don't read them. Every post is clearly identified, and it's easy to avoid those you don't want to see. If I sound defensive, I am. I look back on the beginning of my practice, and I didn't even know what it was that I didn't know (and without Jainen and OldJack going into Professor mode, I might never have bought a clue). Without this forum, and some of the incredibly knowledgeable folks here willing to give FREE advice during the busiest time of the year, I would have made some mistakes early on that might have changed the entire course of my practice. This is a learning environment in a community that cares about its members. Don't ruin it for the rest of us. I am a sole practitioner. This Board is my 'firm'. There are other Boards out there, but this one is unique. On another note, I don't have an opinion about what the Board should be called; however, if it changes, I hope I'm on the 'notification' list! (Especially after this post.) Thanks for listening. d

Agreed. My computer was locked up for 4 hours because I tried to transmit returns starting at 3:00 this afternoon. Today might be the most frustrating software day I've had. Every time I try to create an efile, it shuts the software down.

Every time I send, it takes 3 hours or so, and I can't use the software during that time .

She could have rolled it over to a beneficiary IRA in HER name and taken minimum distribution payments, but it is too late for that now.

Agreed. Pub 575. Additional exceptions for qualified retirement plans. The tax does not apply to distributions that are: From a qualified retirement plan (other than an IRA) after your separation from service in or after the year you reached age 55 (age 50 for qualified public safety employees) (see Separation from service , later), Separation from service. In order to meet the requirements for the first exception in the list above, you must have separated from service in or after the year in which you reach age 55 (or age 50 for qualified public safety employees). You cannot separate from service before that year, wait until you are age 55 (or age 50 for qualified public safety employees), and take a distribution. Qualified public safety employees. If you are a qualified public safety employee, distributions made from a governmental defined benefit pension plan are not subject to the additional tax on early distributions. You are a qualified public safety employee if you provided police protection, firefighting services, or emergency medical services for a state or municipality, and you separated from service in or after the year you attained age 50.

10 left: 6 not started; 3 completed except for missing information; 1 needs calculation for extension payment. T - 10 and counting.

This was posted by JohnH in 2008. I keep it bookmarked. It makes me smile EVERY time I listen - Especially the first two weeks of April. Thanks, John, for 5 years of smiles! http://www.youtube.com/watch?v=5TkuZ5oI9uY

I believe that passive activity losses carry through with the entity that caused the loss.

I have lost 3 returns that way this year . I wish I had something good to tell you. I just redid them. I'm scared to ask, but how are the rest of your returns?

A very, happy birthday, my friend! Hope you do wonderful things. d

That was my suspicion, which is why I asked the VISA question . Gotta love clients.

What is her Visa Type?

Client whose return is done and has been picked up just called and said 'I forgot to tell you I sell Mary Kay. Does that make a difference?' Seriously . . . forgot to tell me? I have known this client for several years. We have had multiple face to face meetings discussing taxes, income, deductions, assets, investments, you name it. I'm gobsmacked.

Daycare meals can be deducted using per diem or actual cost. Per diem is safer, IMHO, because how do you prove to the IRS that you or your family didn't eat any of the food? How do you segregate the ketchup? I have always put these expenses on the 'other expense' line under groceries. $1.24 for each breakfast $2.32 for each lunch or supper $0.69 for each snack I believe these are the 2012 rates, and I believe you can give a kid up to 3 snacks, but someone who does more home daycare returns might want to confirm. I can't think of a reason to put the groceries under COGS, but . . .

Did they file separate tax returns in 2010?

I always file extensions anyway.

Thanks, Ray. Typo.

"Sounds like they bought an overpriced property and the FTHB credit was part of what convinced them to do it." I believe you are absolutely correct on this one.

Clients bought the home in 2010. 2 years later, he got a better job and they moved 2000 miles away. They tried to sell the house (for much less than they bought it because the market crashed) and were unsuccessful. Eventually, they rented it so they could keep up with the payments and avoid foreclosure, as they have housing costs here (where new jobs are). I can't figure any way around paying back the full $8,000, but it just seems unfair that if they could have successfully sold it (at a loss), they would have avoided the payback as a result of the substantial loss. (Yes, I get that they don't have the loss and still have the asset - they would rather have the loss - it is certainly not renting at a profit.) I just wanted to make sure there wasn't anything I wasn't thinking about i.e. softening the blow of the $8,500 repayment. Thanks. d

Still need his return for the FAFSA, in my opinion.

I've finally reached the tipping point. I actually dropped my 7 year old off at Church (rather than staying with him). I never do this! I got him situated with a few of the church elders, and I took off. My Dad used to sing this song when I was growing up 'Don't send those kids to Sunday School; get out of bed and take them!'. I can't get it out of my head. I'm sitting here doing returns and eating chocolate donut holes while hoping my son is praying for both of us .

Has to be mailed with Letters Testamentary.

Taxpayer borrowed on margin to purchase a primary residence. I think the (substantial) interest is not deductible, even though the investment income is sufficient, because it wasn't used to purchase a taxable investment, but I want to make sure I'm right. I'd sure like to deduct the interest. Thanks for the help. d