michaelmars

yes

who cares if there are losses, the rules state a valid business purpose, and operating in a for profit manor etc etc. Take the losses while you can. many businesses lose money the first few years and that doesn't mean its a hobby.

with the new regs, you can most likely expense it as a repair.

if you use the accountants version you have a "working trial balance" I demand that from every preparer here, that way I can see if any item was created by the transactions or by journal entries. Also I print out the adjusting entries, just makes it easier for next year reversals. Comparative BS and PL. You don't really need to compare trial balances if your opening RE matches you prior ending. On the Working TB there is a place for notes so for example, accrued expenses, you can list what is in that account right there. Us old timers prepared worksheets like this for every client, people just used to computer programs don't really see what they tell you but they tell yu more than anything else.

big deal, if she shoots like Catherine, it will only be 1 round. Only a poor shot would get a large enough deduction from this

WHY BE like that? just tell them you don't wish to handle their work. why give outrageous quotes that they might pass around to others that might be thinking of using you. Simply say your schedule is full at this time.

my ex-receptionist got married to a fellow that has unfiled returns going back to 2004. Unemployed for a lot of those years too. Very little income and he estimates he owes 20k for those years. He needs someone to get him current and this isn't something I want to do long distance or through emails etc. He needs someone he can sit with face to face. Currently employed and has enough to make a big dent in what he owes or at least to get rid of the his state obligations [before moving to florida]. Anyone here able or want to talk to this guy? I will still do my ex since they are filing married separate and I handle her business returns. Soon her income will at least double so we want to get this all resolved so that they can get their finances in order.

why not?

I an wondering how easy it is to prepare a financial statement that gets issued to banks partners etc. how adaptable is it?

I would most likely not do anything, no one is responsible to file a return for an other adult unless appointed as executor.

I am in the same boat, using CSA but I only use the trial balance worksheet and financial statement modules. I am getting very tired of how difficult the financial statement module is to use. It can take an extra hour to deal with roundings etc.

I always do schedule L no matter what.

are you getting a fee, or doing this on barter? Inquiring minds want to know.

over on another forum someone posted a similar topic and is worried that with 50 schedule D items then he might be understating the total by almost $25 if every item was at $x.49. some people have too much time on their hands.

Don is right, NY is a pia

NO Gift tax in NY anymore

be carefull its not all rosy with this, you lose the audit protection and you also might open yourself up to malpractice unless your client is fully aware of the ramifications and signs off on it. 2014 is the only year to clean up ghost assets so you might be missing a major write off if you don't file.

if the charity uses it in their function then you get blue book. best to give an old car to the fire department to burn up and practice rescues with. get full blue book.

when my spunky chorus teacher who also preformed professionally got audited, she went to the audit in a 1940's ballroom gown that she wore on stage. She got the deductions. she is in late 80's now and just told me this story a few months ago.

no its not, not if he does a direct transfer. we do this everyday ie changing assets to a trust, even changing brokers, it will be a transfer out of shares, not a sale and not on a 1099b

HERE IS THE ANNOUNCEMENT rp-15-20 (2).pdf

I keep a bounce of work home at all times, there are always early clients that know they owe and aren't in a rush. Or write-up to do etc. I just keep a bag full for snow days.

I have been saying here for years, forgo the fixed prices, bill by times and the cost per form. Charge what you think the return is worth, you knowledge utilization in the return etc. I once had a client that was heavily involved with an out of state project. He told me what their accounts said and simple said they are wrong and the should look at ****. 2 months later, turns out I was right, the bank mortgage was successfully crammed down and send an invoice for $10,000. It got paid because my saying "they are wrong" was worth it. [btw 2 partners in this project were also cpa's who were unaware of a specific rule that benefited them]. In the rare chance a client asks how I got to my bill, I simply say, that's what it is worth, as is your access to me when you ask me if you should buy or lease a car, refi etc. that's all part of my fee. Of course a straight w-2 is just that and for those I am probably cheaper than the big box operations.

can you post a link, I cant find the chat room on the support site.

the bigger the ego wall behind you the better for initial meetings. When you are waiting for your doctor don't you look at all the certificates they have hanging on their walls?