SFA

PA is a flat tax of 3.07% of profit. Take your 1099misc from PA, allocate appropriate expenses, multiply by 3.07%

Well, that's a boatload of returns! How have you found the time to participate on this site???!

Thank you for this info. Never noticed this feature before.

Have you updated to the 12.13 version yet?

Without the dependent, is the information included on the return accurate? Who's money is being refunded? The taxpayer overpaid and is entitled to get their money back. Why do they have to wait, because somebody else filed in error? Paying to have a return prepared, filed, then amended is not something a client wants to waste their money on. This is not a good strategy unless there is a good reason to consider it. Every circumstance has some unique aspect.

Must we claim a dependent?

Wow! Bam! We just upgraded to 12.13! A very complicated return KaPow! opened in warp speed!

We presented their record keeping system; answered her questions about ongoing changes made to improve prospects for profit; showed promotional materials and information about the nature of the business--it's market and his standing within the market. My client had a full time job and was using the money to finance his business. He and his wife were serious and not intimidated by her questions. They believed in their businesss and were proud of it. The auditor believed there was a social aspect that weighed in favor of a hobby decision. It was true, but who shouldn't love what they do, especially if surrounded by others doing the same thing? That was our experience. Every situation is unique.

Years ago I went to audit on a hobby vs business challenge. He lost some miles, but that was about it. Next several years, more losses. Finally he sold for a large profit. You may be thinking that the buyer didn't know about his losses. Not true. The buyer was well informed. The auditor was skeptical, but never treated him as if he was cheating or filing fraudulent returns. We presented our case, she reluctantly agreed to not recharacterize. We also have had clients where initial enthusiasm and expectations are high, but the activity quickly fizzles into minimal sales and feeble effort. Most of these clients know when they have crossed the line into hobbyland. We keep notes in our files if we have concerns and the dates of our discussions with them about their losses.

If the parents need the money, they may still be entitled to a refund without the dependent. File now and amend theirs after the dependent's amended return is processed to pick up the additional refund. Just a thought.

After all these years, I have never known about doing a "corrected return" prior to April 15. Corrected/amended, isn't it the same thing?

We are doing all these things. We learned the hard way. Do not reboot your computer until after checking your task manager to see if the program has completely closed. We were doing "end task" but now believe that was contributing to corrupt backup files. Only two more weeks. The program and data files are working like a house of cards. Take every precaution that you can. Just get to the finish line.

How aggressive has she been with deductions? What is her gross profit percentage of income? Perhaps she can rethink some of the business expenses and take a more conservative approach. Mary Kay sales can fluctuate from year to year--anywhere from dormant to kicking butt--depending on the life circumstances at the time. One year a business, the next a bust.

Don't pick a fight with an old man. If he is too old to fight, he'll just kill you. Now that's the one to worry about!

Not a bad busines model if you are semi-retired. I'm hoping for the day I too can have your life. Sounds like a plan.

Just be thankful that Notre Dame lost their first game of the tournament, so we weren't subjected to their hoopla like we were in football season!

Pretty impressive!

I am planning to use extensions to train our staff on new software. Bring em on!

AND my husband's 60th birthday.

Add Valentines Day to the list.

I think I'm gonna fire my Son. He hasn't even given me his crap yet.

Like I said before . . . feeling a bit testy? Breathe.

Joel, you make some good points. Yes, we have had problems with the ATX program this year. BIG ONES that I know are not our fault. My entire staff is uneasy and insecure about how unstable the program still is, even at 12.12. We have wasted so much time ($$$) I can't even think about it. Because of the downtime and delays, we have a boatload of returns still in our office, that have been here too long. I am exhausted. Reading these forums has given us some comfort to know that we are not alone in dealing with all these problems. To some extent, misery does love company. Somehow we are going to make it to April 15 with some dignity, but it won't be easy. None of this is anybody's fault except for ATX. Period.

should have asked first: Are you locked out after rebooting?

close & reboot your computer. Similar to something we saw yesterday. Like others are noticing, watch your task manager and the memory usage. On some of our computers, the usage grows the longer the program is open and the more clients worked on within a session. Check your preferences for how frequent you are saving a client file while working in it. We have ours set to every 5 minutes, but sometimes after a complicated entry, we immediately save. After we close the program, we are also checking the task manager and noticing there is a large file called "atxloader" that does not immediately close. We are waiting until it winds down before rebooting our computers. These could all be abbara cadabbara solutions. I really don't know or understand. It's just what we are doing.