taxxcpa

If the client signs the opt-out form you will be safe. If you only have a few opt-outs it is unlikely that the IRS will question you. If you have 100 opt-outs, the IRS may pay you a visit. I would not try filing anything before the IRS is ready to accept e-filings, but you may have a different viewpoint.

I think you are mixing apples and oranges. A poll in which people are selected at random will generally be predictive, but in this poll, many people do not vote at all which is not a random sample. Nevertheless, the results of this poll, although not random, is probably a reasonably close substitute. Only 32 random votes would not be adequate for a large group. The Literary Digest took a poll back before the 1932 election which showed Herbert Hoover would defeat Roosevelt by a large majority.

The only thing that needs to be separated is the numerous "Happy Birthday" messages. Other off-topic messages are often interesting and would be buried with the Birthday messages if only on-topic messages are allowed in one forum and all else goes into another forum.

I don't mind off-topic comments, jokes, political rants, etc., but I see NO reason to post "happy birthday" messages. However, if anyone gets some sort of pleasure by reading that it is their birthday, maybe there is some point in such postings. Since everyone has a birthday, it seems pointless to post it in a message. If I want people to know when I was born, I could add it to my profile. I deleted it on my facebook profile when someone I hardly knew wished me a happy birthday.

Your social security is not reduced because your AGI is over $89K or even if it is over $ 89 million, unless it is "earned" income and you are under the age for unlimited earnings.

They never took my fingerprints for a PTIN. However, I was fingerprinted when I went into the Air Force and again when I took a civil service job.

When I got my EFIN, the first two digits were the same as the first two digits of an EI number for this part of the state. This may be different now since the EI numbers are no longer the same as they were back in those golden days of yesteryear. The EFIN is usually hyphenated when written; e.g. 75-1234. I was never fingerprinted. It might not have been required when I got my EFIN or I may have be exempted since I'm a CPA.

I used to have a client who brought me his invoices rolled up tightly with a rubber band around them. I had to roll them the opposite way and put the rubber band around it and let them set until the reverse-rolling made them flatter. I would like to suggest that all tax returns be mailed rolled up and in a tube instead of an envelope. Now if you could just e-file them that way.

People with a few rent houses are going to find it difficult. For those of us who have accounting software, it would be fairly easy to run a report based on vendors as well as by type of account. But for someone who just adds a bunch of receipts for supplies, repairs, etc., the job of determining who to send 1099s and getting their SSN and address every time they hire someone to mow the grass is going to be more of a problem. Also, there is the expense of filing the 1099s. Unless the person has software to do the job, he has to fill them out manually or pay someone to do it for him. It may mean more income for us, but it is not something Joe SixPack is going to like.

If he was over-reimbursed because his employer pays more than the federal rate, that does not mean he has to refund it to the employer unless that is part of his employment arrangement. If he is reimbursed $ 100, the federal rate is $ 90, and his actual cost is more than the federal rate, his cost could be $ 95 or it could be $ 105, so he might or might not have additional unreimbursed expense that should go on Form 2106.

When I was in the Air Force, I spent a lot of time reading AF Regulations. There was one regulation that explained the proper way to hang toilet paper. I thought it was comical that they had such a regulation, but I agreed with the method they stipulated: it should roll from the top down and away from the wall. There was a saying, "There is the right way, the wrong way and the Air Force way. Of all the things they tried to instill in me in the Air Force, I think the toilet paper issue was the only one I continued to observe after my discharge. I quit calling everyone "sir," and quit saluting as soon as I got my discharge.

You can also e-file Form 1041. I believe you have to update your info at the IRS web site to add all of these forms if all you had previously listed was form 1040

Is a button-pusher really necessary? By the time I check to see if the return will e-file according to the tax software, the button pushing is not a time-consuming task.

Normally the actual expense is only better in the first year, then you are stuck with it resulting in less deductions in the future. I almost never use actual expense.

You can get over 3% dividends on solid companies like A T & T, Procter and Gamble, Johnson and Johnson, Eli Lilly and many others. Also they raise the dividends periodically.

I've had clients do the same thing, but not on such a large scale. They make some trades in the stock market and lose money, so they think they don't need to file a return, or if they file, they don't mention it and file no Schedule D. I've filed amended returns for some of these situations and the IRS pursued it no further. One guy who failed to report his stock transactions was a BANKER of all things. At least he worked at a small bank--I'm not sure what kind of work he did at the bank.

I ASKED THE SAME QUESTION IN tHE tAX bOOK FORUM. HERE IS THE ANSWER I GOT See if this helps, from Pub. 559 page 9 and 16. Installment obligations. If the decedent had sold property using the installment method and you collect payments on an installment oblige- tion you acquired from the decedent, use the same gross profit percentage the decedent used to figure the part of each payment that repre- sents profit. Include in your income the same profit the decedent would have included had death not occurred. For more information, see Publication 537, Installment Sales . If you dispose of an installment obligation acquired from a decedent (other than by transfer to the obligor), the rules explained in Publication 537 for figuring gain or loss on the disposition apply to you. Installment obligations. If an installment ob- ligation owned by the decedent is transferred by the estate to the obligor (buyer or person obli- gated to pay) or is canceled at death, include the income from that event in the gross income of the estate. See Installment obligations under Income in Respect of a Decedent, earlier. See Publication 537 for information about installment sales.

Almost any payment you receive is taxable unless either a working interest payment, a royalty interest payment or some other kind of payment based on production such as a 'net profits interest'. Payments for damages to your property are considered as a reduction of your basis in the property.

I think it would be like rent paid in advance which is taxable when received. The following is from The Tax Book: Rental Income Rental income includes any payment received for the use or occupancy of property. In addition to normal rent payments, the following items are reported as rental income: Types of Rental Income Description Advance rent Any amount received prior to the period that the payment covers. Payment for canceling a lease Any amount paid by a tenant to cancel

I had one like that. He was going to pay me before he picked up the return, but I persuaded him to let me e-file it immediately and he could pay later. He never came back. Doing it free was worth it just to get rid of him.

New customer offers. I used to send out discount offers for "new clients only." The problems I see with ATX is that its once-excellent customer support ended when the company sold out to the present owners. The other problem is that it works very slow compared to non-worksheet programs. ATX has many more forms than other software such as Drake, but Drake has the best customer support in the business. Just don't criticize them too much on their forum or they will ban you.

> Here is ATX's new offer: (probably is for new customers only) > > > > Dear Tax Professional, > > > > Your time is too valuable to waste. So here's our offer: > > > > ATX MAX®-with more than 10,000 federal, state and local tax forms-for only $699. > > > > That's nearly 40% off the regular price of $1,154, which means the best value in the tax industry just got twice as good.

I use a sharp-pointed pentel pencil which also makes a good weapon in case you need one.

As I understand it, it would be reported on the W-2, but not taxzble.

If you have a net figure after a 3% reduction, the net represents 97%. To get gross, divide by .97 184.30 ÷ .97 = 190.00 190 X 3% = 5.70 190 - 5.70 = 184.30 One way of looking at it: if you know 97%, you could divide by 97 to get 1%, then multiply by 100 to get 100%