Richcpaman

Since this is considered an ATX Community, and I am an ATX user, I will answer the original poster with that POV. That said, *If* I was to leave my ATX software, I would move to Drake. I have 4-5 staff members trained in how to use ATX, and I know all the shortcuts and "how do you do THAT!" figured out. Moving to another software would cost me a lot of training dollars and possible client disruptions. And, I like the price point. With about 550 returns of various types, I end up with a cost of about $3 a return for software. With UT or Lacerte, it would be north of $20 to $30 a return. Drake's pricing is similar to ATX's. As for PDF copies of the returns, client data, engagements and 8879's, I do all that using Adobe Acrobat, similar the Abby. I just have a directory by client name, that *I* control. I do not want to lose access to my data because I used a proprietary software solution. For a larger firm, with multiple offices, maybe a FC solution would be easier to implement. But *I* am not losing access to *MY* data. I was surprised at the access fee that UT is charging before you prepare your *first* return. And to retain access to prior year info. Blech. But, As recommended, it can help the transition to the new software. Not all the returns need to be in UT, and that decision can be made on a client by client basis, and as you get more comfortable with the new software, fewer and fewer clients will be in UT. Rich

Sara: It probably can. I do some very complex returns. However, when I switched from Lacerte to ATX 13 years ago, I kept a number of the more complex returns in Lacerte for several years. ATX has come a long way since then. It will save you a bunch of cash as well. Rich

Terry: You do this part-Time, right? I believe you have a regular job, so the taxes are a supplement? Even with that, you still get the same PITA things that those of us who do this all the time get. We are trying to help you realize where the mistakes are in this sitch. First, I would extend folks on April 15/16/17/18 no matter what. You come in my office, I agree to work with you, I extend your return, whether or NOT you agree. If the return is in my office, on the 10th or 11th, it gets extended, even if completed, even if in process, even if new, even if I did your return last year, and I have not heard from you this year. Why? So you don't get wrapped up in pretzels over $194.... A client comes in at the end of season? Make your choice to do their work or not. And then run with that decision. Its ok either way. I just extend, and meet with them later. If they are insisting on filing "on-TIME!", then I get really hesitant... "Why are they rushing ME???" And they pay me ALOT more.... IF its ready to go, file it. Amendments are easy. IF there is a penalty that could be my mistake, (in this case the $194 is on your clients, not YOU) I write an abatement letter to the IRS. If the IRS says no, and I like my reasons, I appeal. If that doesn't work, then I pay the IRS the penalty and accrued interest. I do not write refund checks to clients. If the IRS gets overpaid somehow, the refund goes to the client, but that isn't my concern. Claiming that *I* didn't answer the phone? I just agree with them. "No, I didn't. I only talk to folks during business hours, my billing rate triples after 5pm." I stay on my side of the street with the clients. In this case, maybe because of prior relationships, you helped this client out at the last minute. Then, it became so much MORE after that. Stay on your side of the street. The client is always right. They are now a fired client, but they are "right". And that's ok. You have 139 happy clients. If a client shows up at my house? I probably have a pretty good idea why they might. I have stepped on my crank somehow with them. It happens. It sucks. But I can be pretty blunt with them at that point. They are on my property, on my time, and if they want to be angry? Please, just get back in your car... Rich

That is why debt *never* goes away. He bought it at .004 on the dollar. It was a gift to whoever he bought it from. How did he forgive the debt? Did he send a letter to all the debtors stating that as of June 1st, 2016 the following debts would no longer be collected and removed from your record? Did he send something to the local courthouses clearing the lien, if any? Its a nice publicity stunt. But is reality, what did he really do? Rich

Rita: In *this* particular case, I believe the phone call is in order. Since the SSN was messed up. Get your 2848 from your client and the cancelled check, and then make the call. While the *IRS employee* is on the phone, fax the copy of the check. Then its easier to correct the record. The IRS is taking incredibly long amounts of time to process paper. And in this case, they just might send a refund out to the person who's account was credited incorrectly, and then you have a real mess. Rich

The basic answer is carryover basis, but did you get all the other steps done for the conversion? Rich

You can also transfer your QB Online edition into the Desktop version, and then run it thru the condense process noted above. Much detail is lost in this translation. So far, it is the only reason to like the QB Online edition. Rich

It is not unusual to have Multiple US Government offices at the same address. SSA, IRS, USDA, etc. I received a different letter from the "Return Preparer Office" in St. Charles, MO. Rich

Get both of them in your office at the same time. Tell them both: "The fiduciary controls the cash, not me..." Then explain what happened. Rich

First: Finish their return. Second: Get the POA. It can't hurt Third: Tell your mother and Step-Father: ITS NOT YOUR FAULT, or their fault. Its the IRS's fault. The fraudster has already filed a return (1040A) for your step-father. The Letter 12C is just saying that that the fraudster claimed the PTC in order to increase the refund. Not your fault. The IRS's fault. Only your mother and step-father can speak to the IRS, and an office visit may be required to clear it up. You can go with your mother, but the IRS is really weird in these situations. Sorry about all this. But its a PITA. Rich

Actually, this is really simple. Add: Purchase Costs Add: Closing costs at Purchase or refinancing Add: Improvements Add: Closing costs at sale Less: Insurance reimbursement at time of hurricane. equals: Basis at time of sale Then they pay tax on the gain, Do not deduct the loss (unless the purpose of the property changed to investment after leveling) Rich

Sorry to hear about this for you! Rich

Well... we have 90 extensions. Most (60?) were the same people as last year who always go on extension, 15 were "just in case" those that we were working on down to the line, and may have gotten finished, but we extended them around the 10th to avoid issues. The other 15 were "defensive" folks who we have done work for, but not heard from them, yet, etc. That is out of about 570 returns.

Didn't you "file" it for her?

KC! Happy! Happy!

It is only $700 to DE this year. And it was paid off this year. But we could amend back to 2012 and get about $5k back. Every state would say "show me the money!" Thanks! It helped a lot.

When the Girl Scout cookies (Tagalongs!) run out in the freezer, it means its OVER! I still have three boxes left! Rich

JK: Thank you for that. And I have read that subsection. If the DE building was sold at a loss, and there was a mortgage, and only interest was being paid, I do not believe that we would have to pay DE NR tax. Since it was sold at a gain, plus interest, we have to pay DE NR Tax. That does not make sense to me. In the year of sale, you have to pay, but in the years after, you have disconnected from the state and have an intangible asset, which is excluded. Rich

Ok, what about this? Resident of NH, who sold property in DE 5 years ago, still has an installment sale. There is capital gain and interest on the sale. Does he have to pay DE a Non-Resident tax on the Capital Gains and or Interest? TP never lived in DE. Rich

Congrats Ron. We were in the office today, and commented that all the returns we are going to get done are here, most have been worked on, and we are going to cruise into the 15th. Sweet. Rich

Absolutely. RIch

Raise your rates, girlfriend. Then you have to do less digging....

Over the back fence estate planning. Kid gets the house at Mom's original fully depreciated basis.... Stupid. Sell the house to son, take back a mortgage, little tax, substance to the transaction, and Kid gets the stepped up basis to deprec. Out of Mom's estate, No Medicaid issues, and everyone pays about the same amount of tax. But, NO. Lets just move it from one return to another..... SMH.

Sorry Jack. It went thru. It was "rejected by Agency" not "Rejected by EFC" And it went NOWHERE on the 1040. Not even to page 2.

Did the mother live in the house until the sale? Did the mother live in the house until she moved to a nursing home? If so, use the Sec121 exclusion and move on. Rich