Terry D EA

I charge an hourly rate for preparing paychecks and bookkeeping. I also charge a fee for preparing and filing the quarterly payroll taxes. It is hard to compete with the big boys regarding payroll so I try to keep it as low as possible. I have lost a few to ADP and Paychecks.

I have dealt with many clients who have had an ITIN and then later obtained a social security number. Also, I have sucessfully e-filed them. If you meant that if the W-2 had the ITIN number on it instead of the client's new SS#, then I agree. I took your post as the client had an old and new social security number.

I have found a problem with OneDesk and will call tomorrow to find out what they will do about it. Page three of the 5227 form contains alot of questions regarding the trust activities. There are three maybe four questions with did the trust do bla bla bl in 2011? These questions are a year off and if this affects the IRS accepting this return, then I have wasted alot of time and will not use this stuff again. These type of returns are so sensitive to errors that generate large penalties.

I see the 35.00 entry fee as the donation and so is the additional $5. The T-Shirt is just a gift I think

<<<<<if the W-2 has "his old SS# number", you will have to paper file.>>>>> Old SS#????? Far be it from me but I thought once a number was issued that was it. Is there a different number issued when the SS is not for work purposes or is the card description changed?

I am best in the AM as well. But not at 2AM after a long day.

Thanks again!

I too have done several day cares and have always used the per diem rates. I have used the other expense worksheet for reporting this expense as well.

Thanks Joan for the quick reply. From what I just read, the SMLLC can operate off of the member's SS# if is treated as a disregarded entity and has no employees which there is no payroll reporting. But, NC does require a SMLLC that is treated as a disregarded entitiy for Federal tax purposes to file a NC corporate tax return and pay the franchise tax. Now, my delimma is, do I file a NC corporate extension and a personal extension? This makes sense to me to do so.

I have a client that has been with me for years but decided this year to show up later than ever (Monday this week) with a surprise that went something like this: Client, oh by the way, there is a new twist to my taxes this year. I started a LLC business and I hope you can handle the tax prep for the business for me. Me: okay I can handle it but only if it goes on an extension. Client agreed. Now, this LLC is only 8 months old. NC wants the annual report fee and it must be included with an extension. This client has not obtained an EIN number and says that his SS# has been his tax ID. I advised him to let me get the EIN number and he agreed. This is a single member LLC, I know he has the choice to be taxed as disregarded entity and can file a schedule C. I need some clarification on how this is done and is this the best way to go? It makes sense to me to get the EIN first and then proceed with the extension. Do I use the 4868 or file an extension for form 1065 , 7004 I believe. I've had so much dropped on me lately that I can't think straight

I am with you being skeptical with this software. I am using it to create a CRUT return but am watching every step and every number. At this time, I don't feel comfortable using it and probably won't but then again, I will look at it further. Make sure this wasn't a missed input on your part. I not accussing but just saying.

First, what kind of trust is this? Second, obtain the trust instrument. I have said this many times on this board getting the trust instrument will reveal to you the taxation of the trust. If your client had the trust last year, a return may need to be done and the possibiity of a late filing penalty exists.

JB all of what you are asking is a possibility. I just had the same thing with my grandmother. I entered the wrong date and was only one day off. The taxpayer's date of death comes from the entry on the 1040 form. Haven't used ATX for a while and I forget exactly where this is done. Get in touch with your client and verify the date. It is also possible the IRS has been given the wrong information. Once you get the right date, correct it and all will be fine.

New client dropped in today with two LLC returns. One got an extension and the other very well get one as well. Looking over the documents, I noticed that the previous preparer claimed 2K in depreciation and there were not any depreciation schedules or any information at all about what is(was being depreciated). Form 4565 is missing as well. form 4562 was used in 2010. I noticed a few mistakes in this return and it is sloppily prepared. Now, preparer is not available (may have passed away) and I can't get the information on the depreciation. What do I do with this?

<<<<Look at it this way, it's a darn good thing she called now, so she can pay by the due date. If she called on 4/20 with the same question she'd be blaming you for the penalty!!!!!>>>>> My thoughts exactly.

While sorting through a client's documents, I found loosing lottery tickets grouped with the items for deductions????? Really?? Must be some more of that barber shop tax prep going on. Hmmmm, could this fall under a loss for a professional gambler which these folks are not? A good laugh only on this one. It never ceases to amaze me the things people try. Next case- Client calls whose return was prepared on February 1 with a balance due to Fed and NC State. Aggrevated at me and wanting to know where her refund was and why it hasn't been sent yet. What to do???? Arrrgh I am glad it is almost over.

Wow!

There is a form for the bank, auto dealer; etc to report cash transactions in excess of 10,000. There is a stiff penalty for not reporting as well. This gives the IRS the right to investigate into the transactions to determine if there is any money laundering going on. As it has been said, if it is legit, then no sweat.

You are kidding right?? H#%& no I didn't use it. Tried to but gave up fast!

Thanks!

Hi Kerry and it is indeed good to hear from you and I remember you quite well. You were very helpful back in the good ole ATX days. I, for one, am not using ATX anymore and have not since the second year after the CCH take over. It's been TaxWorks for me but that has gone south as well. I'm sure the folks using ATX would love to have you back helping them. But for you, I guess you're better off not having that job this year as you say and I hope things are going well for you. I feel there are multiple reasons for all the trouble this year and it seems odd that ATX, TaxWorks, TRX and some others have had trouble while some haven't had any trouble at all. Hopefully, they all will recover.

Never mind, I found it in the instructions for form 8949 page 2. Yes, you can see attached statement and attach the statement in .pdf to the e-file if your software permits it. I am using TaxSlayer Pro and it does permit it if anyone wanted to know.

I think I did this last year but can't clearly remember. I have a client that just showed up with a 1099B that has about 20 pages of short term and long term barter exchanges. Are we permitted to attached the broker's statement to the return and make reference to it with the e-file or does this have to be itemized out on form 8949? I sure would like to attach the statement as this would be one headache off my desk.

JB, I know you can help me with this. I am filing the Ohio Income Tax Return for my deceased grandmother. My mother was POA and personal representative. I am filing this return electronically so does OH require any special signature documents with this return. The return is marked "deceased" with no refund or balance due. I can't find anything on this so I am assuming the signature on the 8879 should be sufficient correct?

I agree with everything that has already been said. Personally, been sole prop for 16 years and tax prep for 16 years and couldn't get through a tax season without this board. A donation is forth coming.