Lynn EA USTCP in Louisiana

Why were they not transferred in at net book value?

too True, Abby Normal. What was I thinking ?????

I had to look this up, David as I had never heard of a TRAC lease. Generally, it is more commonly used with over-the-road trucks which may be able to fully deduct the cost of the trac lease. It would not be useful for an SUV since it retains the characteristics of a true lease with the pre-determined end-of-lease purchase price and the end-of-lease option to either purchase, walk away, or continue to lease. Like you, IMO the deduction of the S corp is limited to the business use % less the lease inclusion cost.

Tom, my solution to the change-the-password-every-90-days requirement is to use the same string of letters and numbers, and just change the terminal special character. It works

I generally have a 5% increase each year

My understanding is that it is a 'rolling' renewal.

I downloaded an update a week or more ago which included the organizer. As I've been completing my extended returns I've also printed the organizers, though it might be a mistake to hand them to the client this early. Last year I didn't get the organizers out to clients until late January - in retrospect that was too late. Too early - too late - something in between.

CATHERINE, so funny! You are right, no Great Danes here. I have 2 Boykin spaniels (the state dog of SC) and a Sussex spaniel

I have dogs that love paper, especially toilet paper, and will unroll it in a NY minute. At my house the toilet paper is on the counter next to the sink, within easy reach of the humans, and away from the dogs.

Filling out form 8594 will guide you to where each asset sold will be reported on the corporation's tax return

Well that just stinks. I'm not shooting the messenger, just aggravated at the aggravation.

Roberts, how did you do the freeze on your accounts? I tried to do that and it would not process without a credit card #.

I did a google search and lots of links came up. I did not read Any of them in detail but the property is sold to a trust which in turns issues the seller an installment sale contract. IMO seller beware.

Basically the $ was loaned from father-in-law to H & W. W puts the $ into her business. W is expected to repay the loan. IMO (totally unresearched) W is at risk for the loan and thus at risk for form 6198 purposes.

Make sure the box in the 2848 is checked to instruct the IRS to send copies of notices to the POA. ATX defaults to an unchecked box. I have made a 2848 template with that box checked so I do not overlook it.

It is automatically there on my square account.

Margaret, yes 2014 and 2015 may still be efiled via ATX. Lynn

Tom, I log into my Square account via my desktop. Granted you have to recreate the invoice in Square and have to know the recipient's email address, but as far as I am concerned it is easier for me to do it this way for my remote clients. I find it is easy to do and does not take very long.

I was a CAA and garnered zero business. No one wanted to pay a fee for that. The IRS rvoked my CAA status since I had not prepared,or submitted any forms in 5 years.

I use square . When a remote client wants to pay via credit card I have square send an invoice directly to the client. I think the fee for that is the same as a swiped charge.

Drake has a pay per return option. Not sure if ATX does.

Billy has a stomachache

Jack, in my experience, W2G's are reported to the IRS as income, provide the payors FEIN , and are included on the IRS wage and income transcript.

The IRS Wage and Income Transcript includes the payor's FEIN

I am here. Trying to tie up loose ends before my two week vacation which starts Saturday