NECPA in NEBRASKA

I am so glad that I don't have to deal much with current stuff, but I am still dealing with 2023 letters from my terrible, rotten 2024. My 96 year old dad just passed away two weeks ago after being hospitalized with Influenza A, I had to have my knee manipulated for the second time in the OR, (this one actually worked and my range of motion is pretty good) and today I found out that a bone implant from 4 years ago has failed. I am not going through that again. I can't deal with it here, because we are finally moving to Littleton, CO on 4/2. Our new grandson will be born on 3/10 as long as he is not as difficult as his father was. We are over the moon about being close to them and we have a mountain view! One of my clients received a "we need 60 more days to research" from the first request that I sent and received a second 60 day letter last week. I don't expect it to get much better. I feel sorry for them. Morale has to be pretty low. I really hope that I don't end up getting a tax job in Colorado, but I am starting to worry about the part time job market for older workers. I miss you guys, but have not have much time to hang out here. Everyone hang in there and take care. Bonnie

When I finally get done, it will be for the last time, except for my future returns and a couple of family freebies. Our house got flooded on 10/1 from a water line break under our kitchen sink. My downstairs (including my office) is down to the studs and all of the rooms upstairs except for the bedrooms and bathrooms lost their flooring, furniture, tons of drywall. We were fortunate that our son had come in the night before to help us get ready to sell the house. LOL. I could barely go up and down the stairs after my knee replacement so he got my desktop and monitors first thing before the water could get inside my desk or ruin them. Insurance had a restoration company and awesome packing company over that day. They were pulling stuff out of cabinets and drawers and putting them in boxes so that everything could be moved into the garage, upstairs, trashed or stored until we get the house fixed. It sucks, but I just look at the natural disasters and am glad that we still have our pets. Belongings can be replaced and I've got all of my files. Even my Scansnap worked again after we poured out the water and let it dry for a few days. I could finally get some work done after I had my IT people come over and set up a different network upstairs. The most difficult thing was letting my piano go and all of my music. It was a birthday gift for my mom and me when I was 7. I am still in considerable pain from my knee replacement and that hasn't helped at all. My therapists tell me to keep my knee above my heart which makes it very tough to get anything done. If my surgeon hadn't told me that I could go back to work in a couple of weeks, I would have put this off until next year. Now I just have to finish up the stragglers and clients that were already way behind. We were going to put the house on the market in December and hope to be in Colorado by February. Now, we just don't know how long it will take to restore. At least the kitchen will be brand new for the buyers. The baby is due in March and I don't want to be this far away if he comes early. They already asked me to help out with daycare and I am tickled pink. I appreciate all of the support from this website over the many years. I will lurk around unless you kick me out. It will be such a relief to get this year over. It's been a terrible struggle for so many reasons. If anybody knows good doctors around Denver, please let me know. Specifically cardiologists and Pulmonary Medicine for my husband. I am also researching on the Internet. Thanks, Bonnie

I do it all of the time. It's under your display settings.

I feel for you, Marilyn. I hope that you can maintain your eyesight for as long as possible. All of the above and medical issues mainly for my husband are why I decided to hang it up. I don't even know what Microsoft did to my laptop, because my entire desktop changed after one of their updates. Now I struggle to find many of my programs. I hate their new file explorer. I am so excited every time that I finish another extension. I still have too many corporations to wrap up, but I will get it all done by the end of the year.

I went ahead and ordered the PRS for 2024. It ended up at $799 plus tax and processing fee. You receive a $300 credit against the returns. $44 for individual, $76 business and $16 payroll. It's definitely worth it for my Corp, personal and freebee family.

I called the direct number that my sales consultant gave me and it says that it's out of order. I shot him an email. I hope that he's still there. He's been a constant help the past few years that I've had him.

I don't know if anyone on here is mainly retired, except for immediate family and self. My consultant sent me a PRS package for $799. I'm not even sure what all it includes. I will have to call him. I don't even know what else is out there yet. I am not getting paid, I just don't want to force my family to a big box place. I had forgotten that I still will have my C Corp to prepare, but most of the family will be fairly simple. I will probably keep the Corporation open until the statute of limitations is over with tail insurance. I am hoping that I can just paper file it in the future, because it won't have any income. I wasn't even going to think about this until after I got more caught up. I decided today that I am going to get a full knee replacement in 11 weeks so I had better get my work done. My ortho said today that I am in so much pain because my knee has so much bone on bone and that he cut out so much of my miniscus to repair it that I lost a lot of my knee support. I could not figure out why my knee kept feeling like my shin was breaking below it and I miss being active. I worked out every day until this mess happened. I know that PT will be tough, but it's better than continuing cortisone shots and not improving. If any one has retirement tips, please pass them on. I will be calling the state board to see about turning my permit inactive (just in case this is a big mistake and I can't find a part time job in Colorado that will get me out of the much smaller condo.) Thanks! Bonnie

The cats hated him at first, but the Alpha is getting closer to him. He only weighs 4.5 pounds and our smallest cat weighs 12. Yoda can't figure out why they are annoyed when he chases them or runs headlong into their side to try to get them to play. The cats are positive that he is beneath them. He really needs our son to bring back their two Great Pyrs again, because he has a blast with the youngest one. When we get moved out to Colorado, they will have fun. A Morkey is part Maltese and part Yorkie. He does have some poodle in him according to his DNA test. He does not shed and he is the faster than greased lightning.

This was my last April 15th when I have to care about anyone else's return except my own! I just finished a bunch of extensions, but I still feel like a huge weight has been lifted. This has been the worst tax season ever. I didn't think that it could ever be worse than losing my Mom, but this last five months of having my husband so sick has been the pits. It was getting so hard to concentrate and get enough sleep. We got a new puppy, too for my husband. He turns out to be a Morkey, not a Poodle but I am happier with him anyway. I am also pretty sure that he will never know to go to the door to be let out. He is way too small, anyway. At least he is very good at using pads. Between a dog and 3 cats, it keeps me busy cleaning up. I just hope that we can find a condo that will allow 4 pets when we move. It was a sad and happy day. Lots of hugs and tears, and I will miss my clients. I got some beautiful bouquets, a customer made blankets for both my husband and me and gift cards to go eat. I did get a gift that I bet none of have ever received. My clients sent me an adjustable leg rest because they know that my leg is still a mess after my scope and that I will be getting a replacement. My client had just broken his leg very badly and was using this after his surgery. I have been blessed and still have a ton of work to do. I am hopeful that my husband will improve so that I can get a part time job out of the house in anything but taxes. Thanks so much for everything. See you all soon!

I don't know what I would do without all of you and a couple of groups that I belong to on FB. I am hesitant to ask questions of some groups, but this bunch of awesome people are willing to help and be kind. All of my cronies here are dead, retired or just said that they had had enough. I hope that it's OK if I hang around here for awhile after I retire. I am just letting my permit go inactive, in case I get desperate and have to work for somebody else in Colorado.

DANRVAN, Than you so much for your advice. This mess is being fixed. The attorney is rewriting everything and keeping it so that the remaining partners did the buyout of the old partners shares. The partnership will be terminated and the bank has no problem renaming the loan to them personally, since they already had used their property as collateral. My clients are happy and I have a little less stress.

The partnership took out the loan but the bank used the partners land as collateral. There are already mortgages on the rental building. Thank you so much for taking the time to read this. The LLC is already extended, but the partner that left did not want to extend, because he owes. He is not my client. The agreements absolutely do not address that the assumption of the liabilities are consideration to him. If I am reading it correctly, he had to pay off his portion, but I will check that out with the attorney. We are supposed to have a conference call soon. Thank you again. This has been way too time consuming for this time of year.

Too bad that they don't have any equity or money in the LLC. It would be nice if people would ask for advice before they do something.

I got the sales agreement tonight around midnight. Of course, it's not written the way the LLC handled the sale. The remaining partners purchased the partnership interest from the termination partner. Yet, the loan to buy them out was made to the LLC and it is making the payments on the loan. I don't know how to handle this on the balance sheet or in the future. The really crappy thing is this all between relatives. I don't know if the attorney knows how the sale was really handled or if my clients explained it incorrectly. There was no loan papers from the LLC to the remaining partners. I hate to extend this, because the old partner really wants his K1s, but I don't know how to fix it. I did tell him to contact the attorney to see if he sees any way to remedy this. If nothing else, maybe he can write up a loan from the LLC to the partners. I am so glad that I am done after this year. The whole year has been full of weird messes. Thanks to anyone that has any ideas on anything that I am missing to report this stuff.

My client is a Texas resident. He received a NC K-1 from his father's final trust. The K-1 shows NC taxable income on Part A, but 0 taxable on Part B for nonresidents. I am trying to decide if they need to file a NC tax return of if North Carolina will see that they have no taxable income. I have checked Google and NC and I am leaning towards having to file, but I don't want to waste my time or client's money if I don't have to. Thanks, Bonnie

I get a ton, but I always can tell that they are coming through my website, because that is my only public email. I got a really detailed one yesterday about my website images violating copyright laws, blah, blah, blah. I just deleted it. The funny thing was that I had just notified the new owner that bought the website provider that I would not be renewing and it would be coming down 3/31.

Follow up. The buyout check was actually written by the bank to the leaving partner, but the client didn't show it in the check register given to me or the printout of revenues and expenses. I'm waiting on the buyout agreement to hopefully determine if the payment should be 736(a) or 736(b). I hope that it's b or it will be a huge surprise to the outgoing partner to have ordinary income. I'm pretty sure that was not the intention, but I don't know how it was written up.

Thanks for the help. It was explained to me incorrectly by the leaving partner. I should be receiving a copy of the agreement tomorrow. The partnership redeemed the interest.

Thank you. They have not given me the actual buyout agreement. It's starting to worry me a bit. I am going to ask for it again.

Partnership LLC originally had 4 partners; 2 husbands and wives. One wife passed away so her 25% went to her husband. He wanted out and made the remaining 2 partners buy him out on 12/28/23. The only assets are a little bank account, land and a commercial building. There should not be any hot assets. My dilemma is a new loan was taken out on 12/28/23 by the LLC for the buyout of the partner. There were already two loans on the buildings and land. The remaining partners did sign personally and put up their own land and house as collateral. Is the offset to this new loan a loan to partners? the LLC did not buy anything new. I have been researching this and just don't see any other way to make the balance sheet balance. I am really confused as to why the LLC is making payments for the loan. I only have two partnerships and have not ever seen anything like this. If I am way off base, please let me know and I will try to find the correct research terms to handle this correctly. Thanks so much!

That's why we need to move to Colorado. Our son DIL are there to help us. My step-daughter came over today and cleaned and dusted since I don't have a robot that can dust or clean bathrooms yet. This was a first in 34 years and I was super grateful. I highly recommend RoboRocks! I had a Roomba and a separate mop before, but they are not nearly as advanced as the RoboRock. Hubby came home yesterday with 24-7 oxygen so now I have 50 feet of tubing running through the house. I have to find a way to get it off of the floor. This is a new phase for us, but we will figure it out.

I'm glad that I'm heading out. One of my elderly clients wanted me to show her how to prepare hers online because she used to prepare hers by hand 40 years ago. She now has tons of investments and retirement income. I should have taken some of your advice and bowed out earlier, but the new medical bills are piling up. Hubby is back in the hospital again and can't come home until they can get home oxygen here. Now we have to take our puppy down to K State, for a possible liver shunt.

The interest income was from an annuity set up by her parents years ago. She has not pulled money out of it for years. I am not going to make her records up myself. I may just have to go with her Social Security and whatever her son can scrounge up. I don't know if he could find anything on her phone, because it's a flip phone. She was a nice lady, but was not very trusting.

The son is personal rep. I'm beginning to think that she didn't have a checking account any longer. He thinks that she paid stuff with money orders. She paid estimates so maybe she paid with money orders.

My client was a housekeeper for many years. She passed away and her son says that he can't find any records, including calendars, for her 2023 business. They didn't talk much. Sadly, nobody found her for a week. There is no interest on his part to find anything to help prepare her Schedule C and I certainly don't want to make it up. I'm pretty sure that it was all cash, but she always gave me paperwork with a healthy profit. I have her interest income, but that's it. Any suggestions are very much appreciated. Thanks!