Abby Normal

Client wants to prepay next year's mortgage interest because of income spike this year. I told them it would all go to principal but they called the bank and were told they could designate it as not for principal. I still don't think the bank will allocate it to interest on the 2015 1098 because it hasn't been earned yet by the bank. All thoughts appreciated!

Just backdate the letter. The IRS isn't going to carbon date the ink to see when it was created.

You have to use an email client to download emails to your computer. Were you using Outlook in win7? If you're using the default email app, read this.

I know. I just wanted something more lighthearted and easier to refer to (Abby vs. jmdavis).

The rates are the same but the brackets are much smaller so the tax will be higher on a 1041 than a 1040.

They're called 'backronyms' when they deliberately craft a name to produce a desired acronym. CPU, FYI, FBI, LAPD are initialisms, not acronyms, because you don't say them as a word.

Ha! Henceforth I am known as Abby Normal. And let me be the first to say "Damn your eyes!"

I email it to the client (password protected) and let them forward it to the bank. No charge.

Putting rentals in an LLC doesn't change the rental loss laws.

Yes. Think of partnerships as a collection of sole-proprietors. They can pick up their marbles and go home, anytime.

I used Intelliconnect last year and will continue using it. I don't see anything 'intrusive' about it.

No. Distributing assets to partners is not a taxable event. That's just for corporations.

How is the real estate titled?

I've never tried to do anything like that. I just use TeamViewer and run ATX remotely with nothing installed on my home computer. You need a networking VPN IT person.

Just watch from 29:00 - 34:27 https://vimeo.com/147945640

The election that ATX provides does not mention a dollar amount, just the code section: Section 1.263(a)-1(f) De Minimis Safe Harbor Election Taxpayer elects to apply De Minimis Safe Harbor under Reg. 1.263(a)-1(f).

C'mon, ATX! It shouldn't be this confusing.

Really cute ADP rep just dropped off another MTG. I stuck it in my drawer, just in case I want to show a client. Better get a magnifying glass though. That print is tiny!

If you want to give them the changes to input manually, you could just convert the data file to a newer version of quickbooks. I like to give them the audit trail to enter changes I've made. Or you could buy it on ebay for for $125... if no one else bids on it.

Yes, that's what I remember hearing earlier this year. Hopefully they will fix this going forward.

Entering 1 code has worked for me for 2013 and 2014. I suggested that ATX download all the codes automatically from their server during the install, like my old software used to. My old software had a separate code for 1040, 1065, 1120S, etc. It was a LOT of codes.

I would because you are 1 of those 5 licenses.

I'd asked for both this and a shortcut (Ctrl+Z) for deleting one form. At least they added this so I don't have delete one form at a time. I started using Alt, F, R, D for removing one form or for several consecutive forms.

It will definitely put you to sleep!