WITAXLADY

New ;law for Innocent spouse in last 2 years - can apply and file from here on out to be not a part of the payment.. Form 8857 It probably will not help the back years but forward it does. Am in the process of one right now since I found out about this from a WI seminar with Scioli and Associates out of Saginaw MI - excellent firm for this and OIC...

Thank you. It was an example, ie no lunch hour. And thank you for the link - I also found it after posting... I looked at the state site and could not find anything so looked federal and tada! Will investigate the decimal... Thx again. D

when you are calculating time cards - 6:55 am to 3:48 p.m. - how many hours is that? employee says 9 as have to give her the 7 minutes I say 7 to 3:45 = 8 3/4 Thx and do you have a site?

so Dec payroll was paid for S corp 2553 was sent in with 3/15 extension was this a late election? D

you would think so..but the k-1 doesn't do it that way... I did an adjustment as I knew what it should be,,, Thank you and there is another adjustment for income per the difference in depreciation as well.

So the state only allows $25,000 depreciation sec 179, I took $57,000 so the K-1 for the state shows the difference as an adjustment the Sch E pg 2 income is also $57.000 lower on the agi When I go to the state should it not be $$32,000 higher? The adjustment is giving it $32,000 lower!! Seems to be missing an adjustment ...

we use Medlin and print our checks... we also pdf them to the clients and they print on check paper

Jack has seen my system first hand and pronounced it fine... - I believe that is correct - Jack? However, with just 1 on site visit and remote , he couldn't figure the error out either... Now they want to rebuild the data base - again...

so this is the email I sent to my IT guy and his response... - I continue to get the Retry server error "so ATX says I still need a better server - would solve my problems!! and I do need another computer - replace the front one... so I would put the server as a desktop and get a new server. Oh wait - they say it won't help the error but it might make my program run faster? anyway the specs are i7 for a server, only need i5 for a new workstation! windows 7 is fine 64 bit 16? gig" "They seriously want you to throw more money at hardware? That server has a quad-core server processor in it. We upgraded the memory like they asked. It has Windows 7 on it. I seriously doubt the pc change will make a difference (my opinion). I don't know enough about how their program works (memory intensive? hard drive intensive? process on the client or the server? etc.) but if it isn't running well on that machine, then the issue isn't the processor or the memory. I would like to talk to a preparer's office that actually has it working the way it should and find out what they are running and what they had to do to make it work correctly. Is there such a place? Let me know..." Please could anyone help me out? Thank you!

sounds good in theory - how many 1oo's of years would it take to get into use?

BY George I think I (may have) got it... you mentioned stock value of $100 or $1 per stock - will this have bearing? If the assets are basis of $1000 or $10,000 - does that make a difference or is this now capital contributed? I really did take 2 classes on S corps... D

the stock price was referred to in the post about switching the Sch C to an S corp - how does that tie in please? Thx D

I just sent mine in as well

I get the doing it wrong part Sold it for -0- and no gain... started in S Corp at ending basis of Sch C But year of sale - depreciation is 1/2 so compensated for that with Sch C loss and less value of capital vs personal as -0- and same value of assets Same $$$ amount Wouldn't it be more correct to be treating it as a sale and taking 1/2 depreciation? Thx

I think I like my way better - makes sense - deals with the closing of the business deals with the sale of the assets been doing for 10 years clean and neat gives basis for new S Corp no double numbers - ie basis simple transaction Besides how do you get the assets out of the Sch C? if you do not have a sale in 2013? Thx D

the ? comes into play as to how to treat the assets of the Sch C and getting them into the S Corp - Wouldn't they have to be sold and purchased? Hopefully for the amount of $$'s left on depreciation for a $0 transaction? What happens tho' by doing it thru the Sch C - you get 1/2 depreciation as loss on the Sch C and the value of the assets are then less for the S corp - sort of all comes out in the wash... He says use a 351 election. How would you actually show a tax-free transaction? What forms, etc on the 1040? Thx D

very nice

it is so hard to work on a tax return as I still get the retry server error - mostly upon opening a return , creating an e-file and saving and/or closing a return! Will this ever get fixed? If I renew ATX again, I think my hubby will shut me down d

I have always "sold" the assets when changing entities... WI LLC single member filing as a Sch C now doing payroll and filing as a S corp so the assets need to be moved. Is this correct? Can it be done this way? Is there a better way? Had a CPA question me on it as the S Corp started Jan 1 and therefore no Sch C depreciation but the Sch C did not dissolve in the prior year - not until the S corp started in the new year was there a change or sale.... I need to be able to answer the CPA please. Comments, advice? Thank you, D

oh thank you... duh!

and I cannot get past the e-file error saying no SE income Financial Advisor said S corp counts and the $$ amount was established with her wages Was he wrong? Any options? S corp also did 3% matching as employee... She needs deduction. Thank you

so we are starting to create extensions and as I go thru the list - some of these I am just getting done... but how do I get them uncreated? They have not been e-filed and I have deleted the 4868 but they are still there in the e-file mgr??? Thx

went to asset global settings and deselected bonus then it always quickly calculates - 5 minutes later it still is and of course it is locked up...

OK, thx all - I told him that I thought he had lodging... but does it change with location - the per diem and yes sometimes you really have to pry that per diem out of them!

and truckers are $59/day normally -but there is still a chart that shows higher rates on gsa but not the high rates they have?? thx all