Margaret CPA in OH

Way to go, Bob! Columbus is a great course with great crowds. I ran as a coach a few years ago and might be there again this year. I will be running the Queen Bee Half the week before and the full Flying Pig next May. That would be my 8th and last (famous last words) full but hope to keep doing half courses. Are you training with a group or on your own? If on your own, do you have a schedule? Let me know if you would like one as I have several years from training groups. What is your goal? I have found that those runs during tax season are great stress relievers. As I work from home, I often would run during mid-day just to get out. Be careful on slippery routes. I fell 2 weeks ago on a 5 miler and ended up with a black eye from the black ice. Good luck even though luck has little to do with success. All the miles you put in will determine the outcome.

Fifth Third Bank is pretty big around here https://www.53.com/about/regions-we-serve/ I agree with the others - never use deposit ticket, only check with routing number.

Well, a bit more violent than my usual response but I do like it when a client 'offers' to pay additional money (and when did that ever happen?).

So glad for the happy ending!

The trust was mother's and created 9.6.2000 on her death, the first return was calendar year 2000. It seems it was open until elderly father died. Attorney who completed that return (I see now) passed through all losses to my client when they should have been split 3 ways, hence the amended return. I cannot amend his 2010 return but his self-prepared return took $3000 in losses so maybe it isn't so bad. I think maybe I can just correct the loss carryovers for the record. It will still take many years. And I think IRS wouldn't mind having less offset to taxable income. Thanks, Lynn.

Is client out of luck? He was beneficiary of mother's trust created at death. It had huge losses short and long term when holdings were liquidated. Preparer of that trust return neglected to mark 2010 as final. So it was carried on and on. Client self-prepared returns taking $3000 loss each year with no contact from IRS. I looked at this last year and advised that he go back to original preparer (I kind of suspect it might be himself) and amend 2010 as it was then within SOL for amendment. Last week he brings in K-1 with huge losses showing as final year deductions. But his 2010 return is past the 3 years SOL. Any hope at all for him? I'm leaning towards letting those dogs sleep on. But if 2010 was wrong, how to correct 2011, 2012 and 2013 still in statute? It grates when people smart in other ways try to save money in things they don't know.

Hunker down, my friend. I was there during the blizzard of '78 when the city closed down for days. I lived in the Back Bay. It was never so quiet before or after. But we didn't have gale force winds just small mountains of snow with drifts way taller than me. Do take care. My best friend lives in Quincy and I spoke with her last evening. So glad her son is marrying in September (possible visit alert!) and not now!

I did a search and found this http://www.uaoh.net/department/index.php?structureid=20 About half way down the right side is a Declaration of Exemption form although for 2013. Item 2 is for member of armed forces. An issue with many of these municipalities is that they don't want and can't afford to miss any possible tax income so are pretty rigorous with filing. I think that might do it while still filing an Ohio return as a legal Ohio resident. When some clients of mine moved to Australia, they ceased having a muni or school district filing requirement but, due to deferred income, still had to file a state return.

Well, partners don't receive salaries. See the operating agreement as to guaranteed payments, likely they don't have them. More likely these are just distributions from the capital accounts.

Thanks for a good start. I think, because all income is exempt (totally used for common upkeep) and all related expenses are exempt (totally used for common upkeep), they just never capitalized anything that was commonly owned as each owner owned a share. It's possible that those individual shares, being personally owned by individuals, were not considered depreciable as not for commercial purposes. More research needed! On to Pub. 588 and copies of association documents. And maybe pass on this one!

Anyone?

Ohio also has an annual Unclaimed Funds report that must be filed. There are rather precise steps to be taken when a paycheck is involved but, yes, if the funds were not deducted from the checking account but claimed on a return as an expense, the money must be turned over to the state. I've had to do that with clients who were not especially happy but had, of course, taken the deduction. Cake and eat it, too, syndrome, I think.

Client is condo assn. that files 1120-H. I inherited them, there isn't a balance sheet and the income is all exempt from condo owners and the expenditures are all for exempt purposes per the 90% test. So a capitalization policy when they don't have any depreciation? A supplies and repairs policy? Should I just whimper (thanks, Rita, for the perfect reaction)and send them on their merry way? It's always been so simple before.

So Illmas, that surely saves you a lot of time! Hopefully it isn't the one used by the clients too - how awkward!!!

Bob, I coach with a new group, Queen City Running Club (have also coached with Roncker's Running Spot and TriState Running). We will have a tent so if you need to drop off belongings or just hang with some runners, find a like-paced companion, meet me look us up. When I know the exact location, I can let you know, if interested. I will be with a run/walk group and may or may not be doing the whole thing from start to end as we usually go back and forth helping participants. Jeff, good for you, too! Guess I will have to find a way to work that one in and get in some quality diving afterwards, too!

Good job, JB! Care to share any details? I coach a half marathon group, currently run/walk. I ran the inaugural Queen Bee Half in Cincinnati last October, third in my age group. I ran the first 2 miles as a coach for one woman who then told me to go on. Without that, I would have won my group so no coaching for the next one. I want to win it! I will be doing the Flying Pig in May as a coach. The training during tax season helps my sanity, how about you? I'm lucky with a home office so can take off during the day, if need be. Keep up the good work!

Oh Naveen, Words are really inadequate at such a time. How moved are we all that you would share such painful news knowing that we are a family of sorts and hold each other in our hearts, now especially you. Listen to your heart and the wisdom around you and be guided by the most loving act you can make whatever that may be. I, too, hold you in prayer for guidance and comfort.

I don't know if there are additional updates recently. I printed out my organizers in early December and mailed them last week. The 'simple' organizer (don't know why they don't have distinctive names) is vs 5 on my program and the multipage (8+ mailing slip and Custom) organizer is vs. 7. If others have later versions, you and I are in the same boat with outdated organizers. I will live with it, though, as I use them primarily to prompt folks to recall what they need to provide and what last years' figures were without having to dig out the returns.

I've been using CMI Fixed Assets (cmifixedassets.com) for many years. You can even use it for free for fewer than 50 assets. I do pay an annual maintenance fee of $145 so I can call with any questions but the software can be had for free with updates. Here are the features: Features Data Conversion from other fixed asset software, including excel. Supports the Job Creation and Worker Assistance Act of 2002. Supports recent changes to IRS like kind exchange rules. Luxury auto limits and separate truck and van limits. 250,000 assets per company on single user versions and up. Maximum asset value for an individual asset is 9,999,999,999. Renumber Account Groups option. Up to 10 User-Definable fields. New Truck and Van "Luxury Auto" Limits Implemented. Increased Expensing for Small Business. Renumber Account Groups option. Asset selection in depreciation reports and in the Find Asset command allow wild card characters * and ? on screen for the Description and User- Definable fields. Custom depreciation methods allow a decimal point in the percent of basis to be taken as depreciation. IRC 179 expense reduced to $25,000 for some SUV’s A company can contain up to 25 schedules. Location and Category number fields have 10 characters. Supports Journal entries for Cougar Mountain Accounting and Cougar Mountain Fund Account numbers defined in account groups (and created in journal entries) can be up to 100 characters long. Note that account group numbers are still limited to 24 characters. Custom depreciation methods A new export feature has been created that allows you to choose the asset data fields to export and to select the assets to export. A tab-delimited text file is created, which is very easy to open in spreadsheets, such as Microsoft Excel. Column headings can optionally be included at the beginning of the file. Can Override the depreciation calculation of an asset for the current year. Depreciation schedules (by month, quarter or year) Book ACE Federal tax State tax AMT Other Tax forms and worksheets: Form 3468 Form 4255 Form 4562 Form 4797 Tax preference Personal property tax Additional reports: Projections Historical depreciation Asset additions Sales Abandonments Trades Transfers Asset dispositions including gain/loss (full and partial) Asset detail report (complete asset information including depreciation for each schedule [book, tax, etc.] for entire life of asset) Version 4.1 new features Brand New user interface with customizable controls. Check out screen shots for more details. Asset numbers can now be up to 10 characters long and can contain both digits and letters. Sub-assets can be three digits. The asset number format is set on the Edit Company screen and cannot be changed once it is set. If you need to access your data using prior versions of THE SYSTEM, you must select 6-digit asset numbers (no alphabetic letters) with 2-digit sub-assets. Paused Depreciation Feature. This feature allows you to pause the depreciation of an asset that has been taken out of service. User Permissions. You can now setup users with that can either have full, read/write, read only or no permissions. Report Builder is now installed on all versions of CMI Fixed Assets except for the Lite version. I no longer have business clients but some with Sch. C. At one time I had 21 clients on this and have always been pleased.

Yes, the path above takes one there. But I listed that path as it seems that is the route to get to Intelliconnect subsequently and it might not be so obvious otherwise since the direct link was omitted.

Support/Tax research Input login info. The next time you go to tax research, you are automatically logged in.

I have MAX and have access. Just logged in.

As the instructions for Form 8879 state, the taxpayer signed (handwritten or electronic) form may be transmitted to the ERO in person, or by U.S. mail, private delivery service, fax, email or an internet website. The vast majority of my signed 8879's are faxed to me. I have an electronic fax system and save the form in pdf format. If needed, I could print out the form but typically do not. Those that are mailed, I do keep in a file for at least 3 years then scan and discard along with the engagement letters for that year.

Jack, I guess I am just cushier and nicer than you. I purposely included the "fluff" for this client but not for all. You don't know the entire back story and I won't bore all here with it. I do not expect full payment but I do expect to continue to see her in social situations. It will not be difficult to sever this client relationship from my end if she doesn't from her choice sooner. Thanks again for your input. I thought long and hard about this as well as rereading the many thoughtful responses above. In the end, we each must act according to our own understanding and needs. I did so. You very well would have handled this in another matter if you had ever even gotten to this stage with a client - which I doubt. I am satisfied and will be with whatever the outcome. I don't think I burned any bridges or created an enemy, just lost a client and can live with that.

Okay, here is what I finally sent. Thanks to all for your input. I don't know how this will play out. Thank you for the check received, #6306, in partial payment for invoice #1458, copy enclosed. I appreciate your note regarding my ‘usual charge,’ however there is no such thing. As my engagement letters and cover letters clearly state, I charge an hourly rate for the time it takes to understand the documents, clarify uncertainties through email, telephone and personal communication, input the data, review the returns, efile, invoice, and complete all processing. I have enclosed a report of your charges since 2003 and have looked at each invoice. Most years the time involved was 1.5-2 hours at the rate in effect that year. For tax year 2013, 4.5 hours were documented and I provided a discount of 1 hour due to the health issues you mentioned about (son). The additional time was spent in email correspondence (at least 22 exchanges from April 9-Oct. 21), telephone calls and two meetings to discuss proper listing of specific deductions and review of final returns to file. These meetings and the final review were critical as your figures for expenses changed often over time so it was necessary to input the final, correct amounts in the proper place. You may recall us tracing the correct, final numbers from my printouts of myriad emails with differing amounts and types of expenses mixed together. The most positive aspects of this extra effort were, finally, significant refunds of $866 for you at the federal and state levels and preserving the loss carryover at the local level. A refund has not been the case for many years. As a self-employed sister professional yourself, you surely understand that invoicing for services provided is comprised of time, overhead such as software ($1300 in my case each year) and materials, as well as expertise (40 hours of continuing education at my expense annually as well as licensing as a CPA). I appreciate your confidence in my professional services for these many years. However, I choose to value those services appropriately. Even at that, I undercharge significantly compared to many less qualified preparers. As has been necessary in a few other years per the enclosed report, it may take some time to pay for these returns in full. I understand and trust you understand my position, too. Best regards now and in the New Year,