michaelmars

Anyone else experiences a change in this site, i lost the background and just have what looks like something typed on an old typewriter graphics. is it me or is the website under some sort of reconstruction? I was away for a few weeks and came back to this!

Looking for an experienced ATXer to work 8-16 hour per week during tax season for complete tax return preparation. Mostly simple returns, repeat customers so they will be already set up. TBWS will be already done for most business returns. I am in Great Neck, LI. We are open 7 days and someone is here most evenings so your hours can be flexible. Would like you to start during August a few hours a week working on extension returns to make sure we are a good mix before January.

not an answer to your question but another comment- don't forget that some of the 754 has to go to land so you have 2 754's, depreciable and non-depreciable land 754.

I go by the theory that if i can't figure it out and the atx programmers can't figure it out, then the irs auditors can't figure it out either. Hand them a work sheet and 9 out of 10 times they say fine if the numbers are close. on that dreadful 10th time, just blame it on the computer!

"upper right hand corner two amounts: tax on return and amount due/refund. " Its still there, its an option you have to turn on in preferences

do an amended return normally then just add letters normally and an amended letter comes up! as the other mike did, i just checked on a lark to see if they added it and they did.

WOW THEY ADDED CLIENT INSTRUCTION LETTERS FOR AMENDED RETURNS!!!!!!!!!!!!!!!!!!!!!!!!

PLS DO

THE long and excellent analysis above left out one other item concerning real estate, refinancing. When you refinance in an llc you put the money in your pocket and walk away. in an S corp you have a taxable event if you take the money out of hte corp. Almost every major RE transaction now a days is either a LLC or a Reit. if you are going to hold and operate it. only if you are going to flip it does an s corp make sense.

bunch of mine got it too, sent out an email warning and put it on my web site too to warn everyone

ssssssh, it is and now you can charge $1000 for the tax basis calculation!

$3000, Our professional time answeriing this thread already cost more than that! <wink>

look at it this way, did the rent go up because of the new and improved cabinets?, if this were a sec 8 housing would the goverment qualify the cabinets for a capital improvement rent increase? Or did you just replace a few broken down cabinets but leave the old aged floors, ceiling, appliances in place?

why? take 5 year and if the irs a] audits you, b] picks that item to question, c] doesn't accept your answer only then you will have to amend to 27.5 and you will be where you are willing to start out at. It is ok to be aggressive as long as you have a defendable basis for your decision. If you start out at 27.5 you already did the work of the irs. One thing you didn't mention is the dollar amount you are talking about. In the scheme of things is it even a number to worry about? Just the fact that you got so many different opinions here should show you that there isn't a cut and dry answer and you have an argument for using a shorter life than 27.5. -good luck

$250-300 IS MY QUOTE too, depends on what they give me, number of stock sales, etc. covers a basic return, a few sales, mortgage deductions, 2-4 w-2's etc. and NY returns. I also add on efiling fees of $25-50 and expenses [postage, etc of $15 or more-most of mine go out 2nd day overnite]

VOTE 5 YEAR TOO

if the daughter is the executrix she might have a duty to abide by the states mandates, here in ny it is to keep the files for 7 years. I agree that if she were to notify the clients of her intent to transfer them to you in 30 days unless they pick them up she will fulfill her duties and you will receive a windfall.

i'd probably dispute the charge with your credit card company, even if you drop the dispute after a while it will cost cch hundreds of dollars in man hours to answer the credit card company, correspond with you, etc. Sort of would make me feel better for all the time wasted on hold with tech support etc. But thats just me, i can be spitefull

great explanation, thanks again.

thanks, i wasn't sure what the tie braker thing was but i saw some people here talk about it, i know my client gets the deduction its just that they are procrastinators and i want to make it easy on them. -thanks for your responses

PUTS THEM ON Sch a too

Age, support, citizenship, etc is not the issue, just that mom and dad are incapable of taking care of their daughter [not sure but i assume drugs] and aunt & uncle stepped in and took child away from them [legally]. I guess mom/dad wanted the deduction and the stimulus payment and filed a return claiming the daughter even though aunt & uncle had custody the whole year. I just want aunt & uncle to get the deductions to help offset the extra costs they are incurring with the minimum amount of hassle.

I have seen reference here to this but i have never needed it before, of course my last return of 4/15 was rejected, "ss# of dependent already used". Client is the legal guardian of their niece. The efile got rejected and i plan to paper file. Do i include anything special or just wait for the notices to start coming in? They had the child live with them since january 2007 and got the court appointed in april 2007. They paid over $6,000 for preschool and day camp for the child and i'd hate to loose the child care credit, etc. Thanks!

all of the above is good. I last did, 1x billings payable over 5 years for personal returns. seller got 25% of my collections so if i lost client during 4 years i stopped paying for them. Raises were mine, payout based on sellers last years fee. Seller had to gaurantee me X amount of hours a week to consult or talk with client to smooth things over or to comfort larger clients. we agreed to hourly rate for excess hours. Business clients were either 1.25 or 1.5 x billings. payable over 5 years. Prior years software was included in purchase.

how much are you talking about, bet its $400 each, just less than the requirement for 1099 income to be reported by the kids