rfassett

I don't have a list but maybe folks can just identify their own State's rules. PA limits 179 to $25,000 and does not allow bonus depreciation. I have timing differences out the wazzoo. Thank God for depreciation software.

Thanks KC. Good article. One of my farm clients went through an audit last year - a very large dairy farmer. The audit started in January 2011 and wrapped up with "no change" in January 2012. I knew it would come out that way because we keep the books for the farmer. The thing that prompted the audit, according to the auditor, was the huge reduction in revenue from the year previous to the audit year. Very early on, I suggested the auditor check the historical milk prices but apparently he did not think that had any impact because he kept digging. I told the client, who is in his 70's, to give the auditor, who was in his perhaps late 20's, to give the auditor "a tour" of the farm. I think that sealed the deal. :)

I think by locking in the order for deferred payment you are protected from any price increases that may come down the pike in the meantime. At least that is how I explained such things when I was in sales.

Being unfamiliar with the mechanics of the forum let me say that if posts to the TRX forum are automatically posted to the ATX Community forum general chat, then I apologize for my earlier comment. If, on the other hand, you posted separately to this forum, I stand by my comment of underhanded marketing.

"It appears most of you" - the power of suggestive marketing. I do not do well with that! I wonder if Doug even knows where he is - the title at the top of MY page says ATX Community. What does that have to do with TRX?

Congrats to him and you. And may he ALWAYS keep the dirty side down!

If he made the quarterly estimated payments under his SSN then they will not be credited to the 941 (this is a separate entity). The 941 was prepared inaccurately if the service used his quarterly payments as "deposits". If the 941's were filed that way, your client will receive notices from the IRS stating the info does not match their records and he will get a bill for the unpaid tax as well as any late payment penalties and interest.

I am going from memory here but I believe there was a separate course for each module. And even though I did not think I needed this one or that one, I did have my staff as well as myself do them all. And looking back, it was NOT a waste of time.

Do ATX's tutorial webinars. My office has been using cwu and payroll for three or four years. It is not as cumbersome as it would initially appear, but, again, cut down on the learning curve, don't cheat yourself or your staff, do the webinars.

He already knows I upcharge to push the "print" button. That's the one that needs to be pushed - he tried the "send" button and it rejected. Yep - he knows - and I do not normally charge for extensions - but I told HIM I do - so I am good.

Thursday I got a call from a client I helped last year win a battle with his girl friend over who claims the one year old twins. The dollars were significant (for him) so I am thinking this guy is a lifer. The call went something like this: Client: I need you to do my return this year because I tried doing it on Turbo Tax and it kicked back because the kids social security numbers were used on someone else's return. I have a court order permitting me to claim them. So I am going to fax you my info - can you have my return done by tomorrow? Me: Ah ha ha ha ha ha ha ha! Really? You fired me now you want me to bust hump to get your return done? Why don't you just print it and send it in? Client: I don't know how to do that. Me: Put your stuff in the mail and I will add your name to the extension list.

Congratulations - I am right there with you. Finishing up a non-profit right now. The extensions are 99% done and efiled. Have four to be picked up Monday and they have been told to be here by noon or they might just find the door locked.

Happened on one of my returns a couple years back - also not a 101 year old. The guy had an AGI of over $120,000 and zero tax. This particular return is pretty big - 3 schedule C's, a couple of E's, a few K-1's, an F and more. I reviewed that return six times before I was comfortable releasing it Just one of those quirks

Agree with Jainen - most likely zero tax due to the long term capital gain.

No vacation until October - it will take me that long to get rested up so I can enjoy it. I have seven returns I want to get done - clients have already been told they are on extension - so if they get done fine, if not fine. Will do extensions Saturday and Sunday, enjoy a very laid back half day on Monday, and off Tuesday. And back to my part time job on Wednesday (I will only be working 45 hours per week). But in October - I am going to DISNEY WORLD........................................FOR A WEEK AND A CRUISE FOLLOWING THAT FOR FOUR DAYS.

Ken - I could not agree more - except when that guy brought that stuff in, there were 55 returns in-house (current year) to be done in front of his. I will not jeopardize any of those clients for one like this. He has had more than ample time to get his 2008 done. 12 days before the SOL runs its course and he brings it in - I have a hard time getting excited about that. Oh, and this is not a new client - I prepare multiple years returns for him every three of four years. And since there are mulitple businesses, well....enough said. But I do get your point.

Don't let this ruin your day. The only thing that has changed from the day before yesterday to yesterday is that the guy's documentation changed addresses. Without the agreed upon retainer, you should feel zero compulsion to even lift a finger over this info. If it were me, even with the retainer, it would be on a shelf until after next Tuesday. In fact, I do have one that brought in his info for 2008, 2009, 2010, and 2011 completely unannounced on April 2nd. We told him it will be a month before we even think about looking at it. He said - that's fine, I am in no hurry. Well I guess not. 2008? Really? I am stuck on 22 to get finished. I do two and two come in. I have completed all those that we told would be finished. Now it is very low key. If I get them done I am a hero, if not, they were told when they brought their info that they would be on extension. I am truly in coast mode in my mind.

I thought part of the prerequisites for entering into this business was that you had to have already lost your mind - and you are just now thinking you are losing yours? No fair!

Catherine - I just opened a "new form", typed in 941 in the "find" box and it is there - 941 (2012) right above the 941 (2011).

I told my wife last week that the next two weeks were either going to be very frustrating or very disappointing. Disappointing if we don't see the 68 missing in action or frustrating if we do. I told her to pick her poison. She apparently picked frustrating because we have seen a slew of them come in so far this week. Of course they are all being told that there is NO guarantee that they are going to be done by the deadline. Actually had one guy call yesterday and ask if I could get his return done by the deadline - if not he was going to take it somewhere else. To keep him from embarassing himself, I told him to bring his info in. I honestly doubt if he would have found anyone else that would get it done at this late date. I attribute alot of the late returns to the incredible weather we have had here. The clients have not had to be holed up inside the house. Case in point, one guy who got here last week said he traditionally gets his info ready while he is watching the Daytona 500. Well, the Daytona 500 lasted three days this year and he still did not get it ready - the weather was just too nice here.

I have not heard anything like that and we do over 100 941's and my staff is currently in the process of doing them now - so I sure hope you are mis-informed.

JohnH makes some great points. I NEVER tell my clients how many hours I work and/or how tired I may or may not be. I share that info only with you folks and my inner circle of about six people. And I learned a long, long time ago that nobody really cares how tired I am - that is just the way it is. JohnH talks about the sacrifices we all make to be in this business. When my clients mention that I must be really busy, I simply tell them that every business has its season, this just happens to be mine. And if I did not absolulely love doing what I am doing, I for sure would not be doing it. There certainly are easier ways to make a living. And as to the balance in life to which JohnH refers, I am blessed to have my wife as my office manager. So I get to see her and interact with her far more than some of you folks get to do with your families. I don't think I could do this any other way. I do not concern myself with ignoring my spiritual life - my life IS spiritual. I do not make a distinction in that regard. The mental aspect I repeatedly do "gut checks" on. Things like a client calling Friday about a number that was on her return. Her return was about 150 ago - and I answered her question and told her just what the number was and why it was there without even looking at the return. So I am still as good as ever in that regard (although admittedly I am not sure that is saying much ). And finally the physical toll - other than being fatigued, which just comes with the territory, I have found that doing a diet plan such as Jenny Craig keeps me well nutritioned and healthy during tax season. And the side benefit is that so far this tax season, I have lost 20 pounds. I like where I am - and if I were not in this business, I would seek out somebody just like me to handle it for me. Yeah, the money's good, but it is the sense that I am serving a purpose that keeps me motivated. It goes way, way beyond just putting the right numbers in the right box. If that was all it was, I would have quit long ago. So yeah, the "sacrifice" is worth it to me.

I took an inventory last night and I have 60 returns in-house yet to complete and 67 yet to come in. We start telling people bringing in stuff on and after March 28th, that there is a possibility of the return being extended. With each passing date we emphasize the increasing probabilty of the extension. The biggest problem is one within myself - you see, I do not like extensions. That just means I have to work on tax returns this summer. I would just as soon get them done. But the fact of the matter, of the 127 returns in or coming in, at least 40 will be extended. Add to that the 23 corporate returns I already have on extension, and I will have some things to do after tax season

From NW PA, I believe in consistency - no violent swings. So I work from 5:00 AM to 7:30 PM seven days per week - and have been doing that since early January. As the filing deadline gets closer, I find myself "fatiguing out". I am dead nuts tired - but we are almost there. I did have to have a little heart to heart talk with myself yesterday about mid afternoon. I so wanted to just lay down on the floor and take a nap. Talked myself out of it and three cups of coffee within the following 30 minutes and I was fine. I did the return late last week for my client that does sleep counseling and treatment. That was a tough return - the power of suggestion was testing my will. She is going to HAVE to start coming in earlier in the season.

At the bottom of the screen when you are in the PA40, find the tab for Ln 1a, Ln 13 Wkst - 1099MISC. Your 1099 info should be there. Put an H in box b and make sure there is nothing in block G (there should be nothing in either of the blocks for G. This is not PA compensation, it is business income.