Randall

If you're preparing both W-2s and 941/940, you can report to make the numbers the same. If you did not prepare these, you can prepare a corrected W-2 for the shareholder/employee to include the health insurance. One issue might be breaking it down on the quarterly 941s, but I've just added it on the 4th quarter 941. Then there's the local income tax. I just add to 4th quarter to make the total annual amount come out correctly.

I just do it on the individual return. Choose option for combining Fed and state.

SEP limits are percentages. SIMPLE limits are dollar amounts. S Corp shareholder/employees W-2 compensation applies. So, yes, if the W-2 compensation is $10,000, they can contribute the $10,000 to a SIMPLE. Wages are still subject to FICA tax and local income tax (most localities). So (in this case), the shareholder/employee might have to put in money to cover the withholding taxes.

I use HP 2430. It's not on ATX's list but I had no problems last year. The old HP4 got to be just too slow.

I generally upgrade when I get a new computer. Currently running XP and Office 2003. I plan to get a new computer later this year. I'll go with Vista and Office 2007. I hate the changes and the annoying learning curve too but there will continue to be upgrades and I want to keep up as much as possible.

Last year, I saved it on my desktop. Haven't done it yet this year but will soon.

I do.

I just upgraded my computer to 4GB RAM. I'm running XP. I think the 64 bit machines allow you to go well above the 4GB RAM. Are those with 64 bit machines (and Vista 64 bit) running the 2008 ATX ok? What about other programs such as QB and Peachtree? I'm planning to buy a new machine later in 2009. I'm not concerned with the older program versions as I will keep my current machine for old returns, etc. But I would like to get the top of the line 64 bit on the new machine and not have problems with software.

What about XP SP3?

I've copied a section from the manual into a pdf file with the instructions on how to make an accountants copy and how to merge the accountants changes. I send it to the client. According to QB, you can do the accountants copy for one version back. For QB2008, you should be able to get a client's accountants copy from their QB2008 or their QB2007 and they should still be able to merge the changes. I can't verify this though.

This is a good heads-up for future new clients. I think I'll add to my list of info requested: date they purchased their home and, not just the previous year's tax return, but returns going back to all years since they have purchased a home (within the time credit available).

I'm not sure of all the facts of your situation. I don't have any cites off the top of my head, but generally, I would think an S Corporation could distribute the installment note to the S shareholder and he could continue to use the installment method. For a C corporation, the shareholder would normally not be allowed to continue the installment method but have to pay all the tax upfront.

I don't know of an inexpensive alternative. You might try AccountantsWorld or AccountingWEB, places like that. They have lots of ads for various products. I don't do audits anymore and I recently stopped doing compilations. I had a peer review last year because I did one compilation. I still get PPCs Compilation and Review Guide and their Financial Statement Preparation Guide. I like having the reference material available. They seem to be reasonably priced although we do sometimes get in a rut and not want to look around and make a change. Let me know if anyone knows of some good alternatives.

Kind of like church, pay and pray.

My 2004 shows Release 20051108, Program Version 2004.55.37, says it's updated from the Web, Build 4590. My CD says 2004 Archive Release. I tend to update from each CD when received, then immediately update from the web. Even though they say the CD won't overwrite anything newer from the web, I still update from the web right after updating from the CD.

It seems like this run away train is picking up steam. Encouraging lenders to lend more, encouraging borrowers to borrow more. I guess the next step will be to add zeroes to the currency. I'll have that beer now.

The cost of the higher end programs are worth it if you have the volume to warrant it. If you only have a small number of the more complex situations, it's worth it to me to stay with ATX. Each of us have to make that choice.

I don't prepare these at all, even the simplest ones. I recommend they contact an attorney. If it's only one owner (or two spouses) and the business will be very simple, I tell them they can do it themselves. They can go to the state website. I think Ky has a simple one page form or whatever. They can also go to an office supply store and get some forms or buy some software. BUT I don't and won't do it for them. If they have two or more partners (not spouses), I definitely recommend they see an attorney and not try to do it themselves. On the other hand, I've seen attorney prepared docs that have such lengthy boiler plate language that doesn't really address some specifics of what they want to do. I don't think clients know what it says or means.

How does this work? I assumed you sold the practice, with maybe a retention amount to cover clients who don't go with the buyer. But would you turn over all tax info upfront? I was thinking you would do that by individual client once that client came to the new accountant (then getting his permission), etc. Anyone done this? I'm not looking to do this anytime soon, but it's something to think about down the road.

They all seem to be under the 'efile' section.

What's with the topics listed? Hopefully the moderators are working on this.

Lately when I attempt to open my ATX2007 program, it doesn't open, nothing. When I restart the computer, I get a message of a program needing to close down. When I click end task for this and the computer restarts, I can open ATX2007. The program hanging things up is labeled ccSvcHst. Anyone know anything about this? This usually happens after I've been online. Also, it doesn't interfere with opening prior year ATX programs. Thanks.

I agree with KC. I like to buy a new computer BEFORE my old one gets too outdated so I can still use the old one for backup. And the new HDs have so much more space, you have plenty of room to keep the old files even if you never need them. Better safe than sorry.

That's my feeling too. I upgrade QB and Peachtree every year. But it's not necessary for clients. I do try to get them to upgrade about every 3rd year though.

If the client is sending you an accountant's copy, you can send back your changes. This works for one previous QB version. In other words if the client is using QB2007 and you are using QB2008, you can still send the client your changes. But this only works back one year in QB versions.