Abby Normal

I'll let the lawyers argue it out:

http://www.reddit.com/r/law/comments/3b2owz/scotus_holds_obamacare_subsidies_available/

A 1040

An 1120

A C corp

An S corp

An LLC

That is all.

Po-tay-to po-tah-to

I'm of no use. I thought an emolument was something in skin lotion.

Is the date correct on your computer? Exactly which site does this happen on?

ATXMarilynB says ATX is aware and updated form should be ready in about a week.

Thanks, J!

Tried to do this on two different partnerships and got the error both times. Can someone try this and let me know if they're getting this error? Thanks!

And in 20 years of efiling, I've never had the feds or a state ask for efile authorization forms.

According to that link I posted, company-wide gifts are not subject to the $25 limit. That exception may help your client.

What would the business gift limit be if adjusted for inflation?

Edit: It was $25 back in 1954!!

http://www.nolo.com/legal-encyclopedia/are-gifts-business-clients-deductible.html

They're supposed to fix this in 2015 by adding a check box on letter options for paper filing. It will automatically have the address which you can override if you wish.

Edit: In the mean time, you have to change the preference under client communications to "Calculate based on efile status".

You might go for a partial deduction as listed property. If the work is hard on the painter's body and this chair allows him to work longer or faster, I could make a case for ordinary and necessary, at least partially.

Inventory and assets are not start up expenses. Supplies are an expense, so they would be a start up cost if this is a real business with a plan to make money, etc. Until then, it's just an expensive hobby.

Personal loss on personal residence. It was no longer a business asset when sold.

Don't get me wrong. I appreciate their efforts. Otherwise I'd feel like a lot of what I do is a waste of time.

Just checked the one we did a few years ago and we put "N/A - Non-resident alien" in the SSN box. We may have faxed it in. I'm guessing you're doing it online?

Client who has had sub-poverty level wages for a long time, had 50K of income due to a K1 fro a poorly handled (IMHO) estate. IRS wants to be sure she really filed the return and they want copies of all W2s, 1099s, etc. This became a refund return because I had her pay in enough on 4/15 with extension, so I understand the IRS computer questioning this, but the refund was only $90 so they shouldn't be wasting everyone's time.

One of my clients faxed over one of these yesterday. No one had requested a change of address.

Been awhile since I did c-stores but i think scratch off tickets are owned by the state until someone buys one, so unsold tickets should be returned by the franchisor to the state. I would inform the state and let them know what happened.

In MD, many licenses are issued by the county.

http://business.maryland.gov/start/the-process

Edit: I don't think there is a retailers tobacco license for either state or county in MD. There's a state one for manufacturers and vending machine operators. Some counties might have them, though.

How do they plan to differentiate between a business computer and a home computer, just based on whether you're running home or pro version?

I usually update my computers within a week of when updates are released. I install security updates sooner, sometimes.

Is there any word from the IRS when transcripts will be available again?

​If you are a cash basis taxpayer you can only take the foreign tax credit in the year you pay the qualified foreign tax unless you elect to claim the foreign tax credit in the year the foreign taxes are accrued. Once you make this election, you cannot switch back to claiming the taxes in the year paid in later years.

I guess it's a question of whether this qualifies as an accrual and also whether you can make a late election with an amended return. They also say on this same page:

"If the foreign income taxes you claimed as a credit are refunded or otherwise reduced, you must file an amended return on Form 1040X reporting the reduced foreign tax credit. There is no time limit on this requirement."

Hopefully, this works both ways.

The 1116 instructions say "accrued during your tax year" but I don't know what that really means. The instructions also say that you must pay the accrued tax within two years after the close of the tax year. That would eliminate accrual for 2012.

​Yep. Never install version 1.0 or x.0. Never install current year QuickBooks until May. Let others be the Guinea Pigs. We've got work to do!