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Everything posted by Abby Normal
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You can't because they are stored on ATX's servers and I highly doubt they would delete them if you asked.
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That is not a sufficient backup of your entire database. I highly recommend backing the entire 2018 Server folder, just in case you ever need to restore it. Backups of returns are useless unless you can download all of the forms from ATX. They don't keep those forms servers available forever. Also you'll want all your other set up info as well, like preparers, firm info, etc. etc.
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It will still run perfectly well long past October 14, 2025, you just won't get any security updates to Windows 10. Unless you choose to pay for them.
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I highly recommend keeping a backup of the data files, just in case. The default location of the complete ATX database is: C:\ProgramData\Wolters Kluwer Unless you changed the default locations. The folder is called ATX 2018 Server. If you have client folders with PDFs of tax returns and records, those will be wherever you chose to put them.
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That's going to be REAL popular. Asking the whole board for all their personal details.
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But condo associations, in my state at least, have no owners.
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SMLLCs are assigned two EINs, one for the owner and one for the entity. But if a single-member LLC is a disregarded entity that does not have employees and does not have an excise tax liability, then it does not need an EIN. It should use the name and TIN of the single member owner for federal tax purposes. https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies
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It's a tax return, not an essay. No punctuation either. Same reason.
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You should immediately reimburse the first client and then collect the money from the other client. It was your mistake.
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We used to put them in partnerships back then. Never in corporations.
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Interest Income on Installment Sale form 6252
Abby Normal replied to Robertg423's topic in General Chat
Sch B, which means 1099INT. Unless it's mortgage interest income. In which case, use BrewOne's answer. -
Dissolving any corporation with real estate in it is always a taxable event, which is why we always try to avoid putting the real estate into a corporation. Real estate should have been in a partnership/LLC from the beginning and the business should have paid rent to the partnership.
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The income should go straight on the Sch F. I don't do any farmers but doesn't that flow automatically to 8995?
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You do need an account and a PIN to file. I never thought about getting any signed permission to file.
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Yeah, it's pretty easy. Uploading was always a problem for me, though. I haven't done one in a while, but here are my notes: FBAR Filing Instructions 1. Use Internet Explorer 2. https://bsaefiling1.fincen.treas.gov/BSALoginMain 3. E-Filing System Login password expires annually(?). 4. Select Report 114 - FBAR 5. Open a New Form 6. Must open in Adobe inside Internet Explorer. 7. Enter a name and save the file locally in client's folder. 8. Complete form, sign and save. 9. Click Manage PIN under Filing on left side to see and copy PIN. 10. DO NOT CLICK SUBMIT IN FORM. Close the form. Click Submit FinCEN Report on left side of the website just above where you just got the PIN. You'll need to paste the PIN in again. 11. Upload saved PDF. NOTE: If you did the FBAR last year, you can copy, rename, edit, save, sign and upload that PDF to save time.
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Maryland does not allow itemizing unless you itemize for federal. Maryland is close to be a flat tax for most people.
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That rule is for hotels and requires substantial support services, like daily maid service, to be subject to SE tax. I'm sure there are court cases.
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The 2106 was heavily abused by cheaters. The main things I like about the current tax law is a high standard deduction, so people don't have to worry about itemizing, and the elimination of employee business expenses. Make your employer reimburse you or find a better employer.
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The conference call thing could have been due to the fact that I was using the internet to place the call and not cell service. I don't have great cell service at home so I place calls and send texts using the internet.
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Which VOIP service are you using?
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Also, you can make calls from your cellphone using your Google voice number to hide your real cellphone number from clients. It's like having a work phone and a personal phone, all in one phone.