Randall

Don't forget the Lifetime Learning Credit. Better than nothing.

Watch for the state filing requirements. In KY, each SMLLC must file a return with an annual $175 fee.

Joelgilb, thanks. Don't know how you did all that during the busy season. But thanks for the input.

TaxCPANY, it does sound like you'll need one of the high end programs. By high end, I mean top price but also supposedly with that price, the capability to do a lot more than ATX offered or even Drake. For me, that high price is out of the question for my needs. I've had the top price full package from ATX so Drake's price seems to be in that range. From JohnH's comments, Drake seems to be the one but I'll wait awhile for now. Some have commented on Drake's data base or interface or being DOS, so I'm not sure if they'll need some major overhaul. I don't know much about those specific program characteristics. I just have to rely on what I see in the program and how it functions.

I'm small. I feel for Jack from Ohio. But I would consider switching to one of the high end programs. That's a lot of returns. It would seem you would need the higher end program anyway. Good luck. We all have choices to make this year in our own circumstances. Regarding the Drake comments, I haven't used macros in Excel much. I've been wanting to learn more and more about using Excel. Tough to make the time. But the macros don't scare me. If I can start with simple ones to make things go faster and easier, I will learn. Still wondering about all the programs. I think the business is going to continue to be in a flux. There's no guarantee on any of these companies, large or small.

A lot of the evaluations I've read from places like Acctg Today and such are very simple comparing basic functions, costs, etc. Really don't get into much on specifics.

Taxed, good idea about the separate topic for software evals. But talking to software reps at trade shows seems like you'll just get the rosiest picture from a sales pitch. And the people there may come and go like the wind.

Taxed, that's what I'm thinking too. I may go with Drake, then purchase one of the inexpensive programs. I don't think the inexpensive programs will do as much but they may improve each year much like ATX started out.

I agree JohnH. This past year caught a lot of us off guard. I didn't have the early problems and really didn't have serious problems. But I did have some minor problems and it seems the program is slower than ever. There have been minor things in the past I didn't like but I didn't feel the need to change. But now, these past things just came to the fore and caused a piling on effect so I'll be looking at alternatives. Drake has always been my probable number one choice even before this year. I've always used Oct 15 as my dividing date to change software and upgrade hardware. Of course with what happened this past year, many had to make changes in Jan/Feb. I stuck it out and will continue to evaluate thru the spring and summer working on extensions.

Richcpaman, where are you getting the 2.5%? My client is saying they are going to withhold 7.5%.

Anyone familiar with Maryland real estate sales withholding tax? Client is a nonresident of MD, inherited property in MD, tax basis $850,000. Ready to close on sale for about $917,000. They are going to withhold 7.5% of sales price, about $69,000.

Why make the decision now? Why not wait until Oct?

Yes, too late. Inherited IRAs must be a direct transfer. Quirky rule yes.

Yes JohnH, tax season doesn't really end until Oct 15. But it is the end of the deadline rush and long hours. I have more extensions and will need to work longer hours but not nearly as long as pre-April 15.

And the TOD doesn't mean it's a UGMA account. Father was trying to shift income. But the kiddie tax will offset that. And they recently raised the age for kiddie tax for full time students. This will surprise them. Most people don't know about it just like the AMT when they first get hit by it. Say what???

Is the 8879 incorrect or the payment voucher? Does the payment voucher agree witht the return and is that amount correct? Just wondering if the efiled return is correct and only the 8879 incorrect? Or can we even tell what has actually been efiled?

Me too joanmcq. I've been efiling the extensions the past few years. But those needing to send a payment, I have them come in or talk to them about the amount and send them the form thru email and they are responsible for mailing the check and form. I ask them to copy both check and form.

Rough up the paper forms so they don't get stuck together. Kind of like new dollar bills.

Hypocrisy doesn't have political boundaries.

Yes, KC, the letter of the law. That's the problem, everyone looking for a way around the rules, not realizing what they're doing as joanmcq pointed out.

I have my 'to do' things too, getting back to my normal life routine. But there's more extension back log this year so I'm still going to have to work longer than normal hours, but not too much. I'll just get to them as I can and try to get the anxious clients done first.

I've got the extensions done and I think I've contacted those who will send in a payment or those who have the money to send in a payment. The biggest hassle is the business local extensions. They want their own extension and they want a payment. After I get the extensions done, I usually run out of gas and can't get much done even while working. I'll try to get as much done today as I can and work a half day Monday, take off Tuesday.

I have a client who receives SS disability and makes $200k+ (net) thru his business. They cut him off, he hired a lawyer, got reinstated with back pay. And he's a big Obama hater and tax hater.

There could be local filing requirements, rental licensing, property tax. I have a client with property in SC. Pain in the neck.

grandmabee, that happened to me too one time. I duplicated the return so I could play around with it without losing everything. I discarded the 4562 bu lost the FA. when I added back the 4562, the FA with the assets came back (luckily). This return had several activities with depreciation. In FA, I reassigned each asset to another activity (not before used), then reassigned each asset back to it's correct activity. This worked but took some time. So far, this has only happened once. Closing and reopening the return has worked on all the other times.