joanmcq

Or it might not. The letter is being challenged because it doesn't make much sense.

So what happened when you liquidated the corp? How have you been operating since then? Yeah, you gotta flow the money.

My last attorney client is quitting law to become a yoga instructor. She doesn't care about the income difference, and I tell her that her sanity and joy at what she does is priceless.

Doh! I just learned FaceTime and am marveling at being in the age of George Jetson. Just had a video conference last night. Someone slap me upside the head, please!

Printing out the worksheets helps if you have a client that wants explain actions of the calculations. I'm currently exchanging emails with a new client whose former accountant apparently never explained ANYTHING. And they're complicated returns, RDP couple that moved to a non-community property state mid year. Now it would be easier to have them sit across from me and go over them, but since they're now in CO, that's a bit tough.

I never filed the old FBAR either. Too much risk in that one. I'd just make sure the clients know they have to file it. It wasn't a tax form either. The 8938 is a tax form, but at least has much higher limits than the FBAR, especially I'd you reside in a foreign country.

There is a checkbox on the sale of personal residence tab to include fully excludable gain on the Sch D.

The withholding form is in the big package of stuff they got at closing. So is the 1099-S.

Are you entering each separate donation on the 8353?

Since both units weren't sold and the client elected to treat as one, not checking the complete disposition box should make ATX carry all the losses forward.

Of course if the 27K in employee expenses or whatnot is a bunch of made up stuff, the taxpayers need to know that too!

Yes, it's an SSMC. I had a feeling MFS is the only way to go. I was researching the A2 visa last night. Looks like if they file joint, the diplomat may have lose his visa too. Might want to talk to their attorney on this one. This is one of my 'came to you because we couldn't find anyone in the LA area to touch this one'. I get a lot of these just for the SSMC issues.

New client just got married. His spouse is here on an A2 visa, diplomat. Spouse is a Mexican national, but does have an SSN from when he was here on a student visa years ago. Maybe it's actually an ITIN, I'll have to check. He does not pay US taxes per his visa. But now they're married. What are my choices for filing? MFS for my client? If MFJ do they pay tax on all income? An added complication is a rental in Mexico, owned by spouse.

I've got two whose investments have been stellar this year. One sold some land at a big loss, but that didn't help with the dividend & rental income. It gave me a chance to talk about muni bonds, one of the only areas she's not invested in, but also a chance to compliment her investing prowness, and diversified portfolio. She does all the trading herself. Yes, a client that UNDERSTANDS!

See if AZ has a form/schedule for SSMCs to show how the state return is computed different from the filed MFJ federal. I just found one for a ND return I'm doing, that will have to be filed with the NR ND return. The returns can be efiled. You create a dummy single federal return to prepare the state. Do NOT file the proforma federal! I do a TON of SSMC returns.

I think it came & went already. There were some really cold nights in December. But don't blink too fast or you'll miss spring too.

I've seen tons of them, from when I was doing audit rep for TT.

The beneficiary should be the one getting the distribution or it could be paid directly to the school. This would avoid all of these pesky mismatches.

Hey, KC, I bet you are really loving our CA 'winter' this year! I have a new client that literally just relocated from PA two weeks ago. He and his wife are ecstatic about leaving the snow and below zero temps behind.

I don't do them while they wait. But I do like to meet with new clients especially; either in person or over the phone. I generally book an hour for interview and a half hour for pickup, although I don't often use all of it. My best time to work on returns is late night and my clients get used to emails at 3am.

CA will report to the IRS.

It's not alimony if they agree it's not alimony. She may have had a smart lawyer. Or the amount is decidedly lower than if he got to deduct it. Or he had a crappy lawyer, and she had a very good one. Child support ends when the kids turn 18, or one decides to live with dad. Spousal support is forever!

Definitely college kids, I'd say.

If the return auto- saves while you're typing, it wipes out the cell. I had to set the auto save to less often because it was driving me crazy.

Why do you call him a 'dominate'?