Lynn EA USTCP in Louisiana

http://www.rev.state.la.us/forms/lawspolicies/Emergency%20Rule%20-%20Alternative%20Fuel%20Credit.pdf Recently added Emergency Rule regarding the Alternative Fuel Credits, an 8-page document. Lynn

HI Cathy, I took that credit for one of my clients just this week. It's one of the refundable credits, #71F. Of course they want us to fax to them documentation for that - my client has provided me with a copy of the purchase papers, and something that states the vehicle is an EchoFuel vehicle. My client was told about this credit by the vehicle salesman. Lynn Jacobs, EA Civil Law Notary Public Kenner, LA

Yes, I have done that, notated the W2 as clergy income. Sadly, one W2 has SS/medicare withholding. That particular congregation just will NOT do it the correct way. But the problem is that the 'real' s/e income as a music teacher is not flowing correctly to the SE form. Do the wife need 2 SE forms? Or 'should' one SE form be able to properly calculate the combined SE tax for both the clergy and the music teacher SE income? Thanks again, Lynn

Well, I solved the first problem re the retirement plan calculation. I entered the info manually as a defined benefit contribution and it calculated correctly. Now on to solve the SE issue for the wife. If anyone (MAMalody, for instance) has some words of wisdom I'm all ears; if a phone call works for you 504-469-1025 or email [email protected]. Thank you, Lynn Jacobs, EA

I use ATX. This return is MFJ, husband is a partner in a law firm and the wife has 2 career focuses - one as a cantor (clergy) and the other as a music teacher at a private company. The wife receives W-2's for cantorial duties and a 1099-MISC for the work as a music teacher. First problem - calculating husband's retirement plan contribution: Husband's K-1 reflects retirement plan contribution of $72,000 (k-1 line 1 income is over $550,000). The retirement plan info does not flow from the k-1 to line 28 on the 1040. I tried doing the calculation within line 28, (s-e SEP, Simple and qualified plans) and it limits the amount to $49,000 so I figure I must have one or more of the parameters set incorrectly. Second problem - calculating SE tax for the wife. Will the wife need 2 separate SE forms? With just one it just doesn't flow correctly. Or do I use one and do manual overrides to make it come out the way it should? Thanks for all responses, Lynn Jacobs, EA

While I have not tried to either import or efile with a pdf attachment, I have efiled with the grouping STCG, STCL, LTCG, LTCL, by brokerage name, with various in the purchase date field and a 'real' date, usually the latest sale date, in the sale date field. YMMV, Lynn

On the back of the W2 it says: If a year follows Code D - H, S,Y, AA, BB, or EE, you made a makeup pension contribution for a prior year(s) when you were in military service. To figure whether you made excess deferrals consider these amounts forthe year shown, not the current year. If no year is shown, then the contributions are for the current year. Lynn Jacobs, EA, NP Enrolled Agent Civil Law Notary Public

These are W2 income to the pastor. See Richard Hammar's Church & Clergy Tax Guide for further reference; Lynn Jacobs, EA, NP Enrolled Agent Civil Law Notary Public Kenner, La.

In the ATX program that's called "Planner". Lynn

Joan, I went to Hodgen's website - no info re the webinar. How do we get more information? Thank you, Lynn

Exemptions from Maryland Registration The following individuals are exempted by law from the requirement to hold a state individual tax preparers registration: a current, active CPA registered by Maryland or any other State, an individual in good standing and admitted to practice law in the State or in another state; an individual employed by a local, state, or federal governmental agency but only in performance of official duties; an individual enrolled to practice before the Internal Revenue Service who is governed under circular 230; an individual serving as an employee of or assistant to an individual tax preparer or an individual exempted under this subsection in the performance of official duties for the individual tax preparer or the individual exempted in 1 to 4 above.

If you are a CPA or Enrolled Agent you are exempt from this requirement. For more information, visit the Dept. of Labor, Licensing & Regulation Web site. Lynn Lynn Jacobs, EA, FNTPI, NP Enrolled Agent Notary Public Kenner, LA

Look at the 'Planner'. You'll have to add the tax rate on that form. Also see the 'Tax Summary'. Lynn Jacobs, EA, FNTPI, NP Kenner, LA

It's a genuine email from the IRS. Over the weekend I received advance notification from the NOLA Stakeholder Liaison. I'm still deciding whether or not to participate. Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA

A guess - maybe you have to go to your printer's website and download updated print drivers to your new computer. Lynn Jacobs, EA, FNTPI, NP Kenner, LA

To Michael Mars - Actually, I placed the 'we can no longer serve as your accountant letter' in the clients' folder. But his parting comment was "I wish you had told me this a week ago; today's the deadline." (meaning 4/15). At that point I advised him the deadline this year was 4/18 not 4/15; I took his comment re wishing he'd known before 4/15 to mean that he'd have sought assistance elsewhere to amend the return. He repeatedly commented that 'his brother's accountant let him take the .....' so I presume he may have called the brother's accountant. If so, then good luck to them. Lynn

I've told VERY few clients that Monday is the deadline, instead of today. This week has also been very busy in my office. But I expect tomorrow to be quiet - have one coming to pick up and another coming to do 2009 and 2010. By Monday AM I have to complete the sales tax returns for my monthly business clients; these returns are due by 4/20 so my assistant will deliver them Monday afternoon. Monday I have a couple coming in from PA who also think today's the deadline; I've already filed their extension and they're bringing me the balance of their 2010 information. Should be smooth sailing from here on out. Lynn Kenner, La

Yep, I had an old client who's going to be 'let go' too. He wanted me to amend his return for an unsupported position. I ignored his phone call for a day so that I could get myself calmed down. Today when he called I told him that his position lacked substantial authority, that the info he received when calling the IRS did not constitute substantial authority, and I was not willing to submit myself to possible sanctions, disbarment and a $5000 fine. While I know he doesn't agree with me he did appreciate my candor. Hope he goes elsewhere next year. I may just send him the 'you're fired letter' anyway. Lynn

For Client Write Up I use Howell's software -www.howellsoftware.com ; it's very affordable, (NOT an Intuit product), and very user friendly. Tell Don Martin that I referred you. Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA

I give them a copy of the extension and the mailing address. Lynn

IMO, how the BP (technically Gulf Oil Spill) $ is shown on the tax return depends on the reason for the claim. If it's for damages to property, then line 21, or schedule D, or decrease in basis (it depends). If it's for lost rental income, schedule E. If it's for lost W2 wages, line 21, not subject to SE income. If it's for lost self-employment income added to the schedule C as other income. I usually ask to see the paperwork filed and any documentation the client may have. I do not agree with the conclusion of the CPA firm which your son referred to. I do have some info distributed by the NO IRS liaison officer; if you'd like a copy just send me an email off-list - [email protected] Lynn Lynn Jacobs, EA, FNTPI, NP Kenner, LA

If you have the CFS Tax Tools program there's a worksheet module for repossession of real property. Lynn Jacobs, EA, FNTPI, NP Kenner, LA

Well, you might want to come after me next. During tax season I usually go out of town for Mardi Gras. This year, the week before Mardi Gras I went to Arizona, riding my bicycle from Tucson to Wickenburg and back. It's been 7 days a week, 15 hour days ever since I got back, though. Lynn

I looked at my renewal quote. It included a renewal for my TaxScripts subscription, which doesn't renew until either December or January. I'm not about to pay for that renewal 8 months before it's due. I just paid for this year's renewal not too long ago. I told them to revise the renewal quote; haven't heard back and doubt that I will. What I do like is being assigned to a particular sales rep. That's the way Crosslink/Petz runs their business and it was a much more personal way to handle things. We'll see how this transition works out. Lynn

Tax Sheltered Insurance Deductions Google search engine Lynn