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Thanks Elrod! Happy 2016 everyone!

The integration is nice, but is totally unnecessary. Any good scanner's software and use of the pdf printer (ATX has this) will do the same thing. Drake's doc manager integrates, but there is nothing there that I couldn't do on my own within my scanner's software. The filing system is a simple directory tree that is alphabetical, sets up a client file by name and year. It does integrate with the scanner and tax program, but if I wanted to, I could print the returns to a pdf on my own and specify that directory for saving the file. Likewise, I could scan individual documents using the scanner's software and specify the folder for saving. It could be on the hard drive, desktop, within my documents, or wherever I choose. I can tell you for a fact that if it wasn't included in the Drake package and was faced with a $500+ price tag, I would not purchase that and would be doing it on my own via these other means.

The spouse must have a business relationship with the business in order to contribute to the solo 401k. It can be as wages as an employee, a joint venture reported on Sch C, a partnership, LLC, C or S corp. The financial advisors are probably saying what they did because they are giving general guidance, because it is possible for a spouse to contribute IF.... With the SMLLC, I think you'd have to look to state law to make sure you don't create problems there. If this is truly a single member LLC in the husband's name only, it is reported on his Sch C alone. If you have a husband-wife LLC, each being members, the reporting would default to a partnership for unless you are in a community property state. Why didn't the husband simply give her a paycheck to solve the problem?

The spouse would have to be an employee of the business in order to participate in the plan.

Goodness, if I follow in the path of Black Bart's insurance agent, my career is only half over. Another 35 years? No thanks! **shudders and runs to hide**

Drake has its input screen for this data in the banking section. It has a section for DL or state-issued ID to be entered, and a section below that to input some other sort of ID if applying for bank products, otherwise, it appears that this information is not needed to e-file.

You should gather up an armload of papers and ask if the prep fee is a dollar.

To all here, I'm wishing you all a joyous and safe holiday, and may you all enjoy the company of loved ones, dear friends, good food and merriment.

My first season was 1981, and I've worked in public accounting my entire career. Is there really an end in sight?

Dear Client's Investment Advisor, How come you and client both called in early Nov about withholding from the RMD, both got my messages about the Fed AND state amounts, and only managed to withhold Federal tax when one of the points of your call was to tell me that withholding state taxes was possible this year? How did you manage to not withhold any state tax even though I gave you the exact amount in dollars and as a percentage? How is that we've talked about an annuity payout at least 5 or more times this year, went over the gross, withholding and net numbers each time, and yet you still failed to tell me that the a portion of an amount that was to be Federal withholding was shifted to the state? Why don't YOU tell the client that she will owe taxes, either on estimate or with the returns since this was your doing? Oh, you want me to project 2016's tax liability and adjust that annuity withholding now when you can't give me solid data for 2015 without the numbers continually changing like shifting sands under my feet? Why did you set up the annuity payment to be in very early March of each year when you know this is a complex return that couldn't possibly be ready or projections done before the distribution is made? Why must you wait until the very last week of the year to make the other RMD? No it's not an inconvenience at all. Remember how you stubbornly insisted that you wanted to control the timing of the RMD each year and not set it up for automatic calculation and payment through your computer's system, and then that very first year you completely forgot to make any RMD to this client? Remember how in Jan 2013 you nervously called me and asked about the provision that would allow the RMD to be paid to a charity to get your behind out of trouble for the 2012 missed distribution? Remember how unhappy our client was about giving that to charity? Remember, do you? Client is presently out of area for the holiday, and if she decides to stay on beyond the 4th quarter estimate due date, at least I know that she has enough paid in that she won't be subject to an underpayment penalty. I thought I gave up babysitting as a teenager.

See, now you know I was telling the truth. I should have googled.

Me too, Gene! I got the puns OK but couldn't figure out how it related to cars. Not a program we watch at this time.

Only those preparers with active PTINs may transmit returns. It's not unusual for the IRS to shut down their systems for maintenance around the end of the year, and that has included the PTIN system in prior years. It usually lasts a week or two and then reopens.

I might as well tack this rant on here too: Dear Still-sort-of-sick-body-on-the-mend, After being sick for 2+ days and sleeping almost straight through for more than 30 hours, why did you have to decide that all sleep would come to an end at 4 a.m.? A little consideration, please!

Dear Client, Why couldn't you listen when I told you on several occasions to not fill in the blank here? Why don't you EVER listen? /rant /sarcasm Folks, if you see a mushroom cloud coming from my area, it's only my client reacting to the email I sent. Maybe we'll make the news. Client created a really nice (more sarcasm) dividend for himself out of his C corp. Feel free to add your own rants below.

Squee! Momma and newborn from this morning. http://montereybayaquarium.tumblr.com/post/135606363553/the-squee-heard-round-the-world Newscast with video: http://www.ksbw.com/news/otter-gives-birth-to-pup-at-monterey-bay-aquarium/37059472

Your original username that included "CPA" wasn't an issue. It was specifically the comma within usernames of 2 new members that caused the system to split the name and generate a message that the username is invalid and will not allow PMs to be sent. It is entirely possibly that other punctuation or symbols may also be problematic, but I haven't encountered any of those yet.

Yes! Look at that list of items that have finally been made permanent. Now if only we could have one across-the-board definition of MAGI. If deductions and credits need to be tweaked in other ways, so be it, but standardizing MAGI would lessen the potential for errors.

Please consider NOT using commas or other punctuation in your username. If you have a comma in your name, for example something like "John Doe, CPA", no one will be able to send you private messages through this forum's system, and that includes our owner of the forum and the moderators. If the username is set up like in my example, the forum's software would split the name into its two components as if it is trying to send the message to 2 separate individuals, one named "John Doe" and another named "CPA". I've run into 2 problems this evening trying to PM a new member with the initials "MST" following a comma in the username. The first problem is that the new member did not receive the PM, and the second problem is that we already had a member with the 3-initial username of "MST" that actually did receive my PM in error. If you've already set up your name with a comma and can't find where to modify it, here is the post that explains the process of changing it. Thanks, Judy

KC, thanks for including all of the text because I couldn't access this earlier today. All I was getting was an error code.

Yes, beautiful. Thanks for sharing that, KC.

Both are parties to the return and you can provide a copy of the return to either one of them without choosing sides, and its ultimate disposition is up to them. You could smooth this over with the wife by telling them that the bank will almost certainly require them to sign Form 4506-T as part of the loan application, so the bank will have access to the tax transcript anyway.

I said adjusted basis, not cost basis. Yardley's real issue is whether or not the rental can be reported directly on the 1040, and asked specifically about Sch C reporting. To me that indicates that the client intends that this is a business undertaking, and as such and with the unrelated partner, Joe, still continuing on as an owner, I feel that it's still still in fact a partnership. If that is the case, there would be no dissolution.

Rita is correct. Don't feel like that, and please continue to ask questions because that is what the forum is here for. This is a new area of law for us with a lot of complexity, and of course we have many definitions of MAGI in the tax code depending on what limitation we are working with. It's very understandable what happened with your calcs.

Thank you, KC. jmdavis mentioned "corporation" as it differs from partnership handling of property distributions. I was typing all of this immediately after KC answered and then I had a lengthy interruption: To answer Lion, partnership taxation is one of the most complex of entities, so I'll answer only in a general sense as it relates to property distributed in non-liquidation as opposed to retirement, death of a partner, etc. If property (other than money) is distributed to a partner from the partnership not in complete liquidation, then the partner's basis is the adjusted basis of the property in the partnership immediately prior to the distribution, but that adjusted basis can NOT exceed the partner's basis. From the discussion so far you probably have a good idea of areas you'd like to brush up on, so in that regard if you'd like to start a separate topic on partnership taxation or sources of good research materials or CPE on the subject, perhaps you should start a separate topic. I'd like to get this thread back to the OP's subject and try to keep it on point. Thanks.