schirallicpa

Ha - my secretary refers to her own spidey sense when she knows it's going to be a troublesome client and we should just say "no".

Generally - timber is gravy. And subject to capital gains tax and that usually isn't a bad thing. Unless the purchase contract detailed timber vs. land being purchased - which no one ever thinks to do - then there's not much cost basis there. Or if the taxpayer is in the business of managing growth and cutting of timber, then its more complicated. But in your case, the kids were - well - taking the gravy. The fact that people don't want to pay tax on the sale of timber is one of my pet peeves. Come on- you didn't put a dime into it, and you just collected how many thousands of dollars as a pure gift of nature. And you can't pay tax - let alone only cap gain tax? (I know - grumble, mumble.....)

oh no - who moves to NY???? Yes - NY IT-203 is pretty straight forward. But you if end up with specifics, post again!

Got it working this morning.................................thank goodness!! What a kick reading all your responses.

Never fails. in the 11th hour, there is always printer trouble of some sort. In years past we've had last minute overnight orders of toner or drum. Sometimes it's lack of paper. This year it jammed. It has been cleaned out. And it won't clear. It's a simple little printer. There's nothing stuck in it. Turned on and turned off. Unplugged. All the usual. Come on little printer. Just a few more...............

"I broke even on my business." "I am doing this for a business, not as a hobby." "I'll be in tomorrow to pay my bill." My favorite - "I forgot my checkbook."

well that was rather easy. thank you.

On the efile screen, my efile says rejected by processing center. But on the line item for that client, it says transmitted to EFC, and won't go to rejected. just sitting there. I tried to delete the efile but it won't let me. not sure what to do with it.

Catherine - I hope things turn around for you. But you know - clients are like gum stuck on your shoe........

ATX has done well. Just a couple small complaints there. I have just had some PITA's this year - new start-up corps, s-corp with no basis, more out of state clients than usual, bankrupt clients with leins, client getting audited, new HUD loan for a client, 2 new attorney clients and you all know how they are, someone asking about women-owned businesses, sick kids, sick dog, sick me, now all this snow!

this is what i'm starting to look like this year.....................

This is an ATX thing that could be fixed. Since I have to input the taxpayers age, why doesn't the HSA worksheet know that my taxpayer is over 55 and take the higher limit.

PA 40 used to be the easiest form ever. For some reason over the past couple of years ATX has made it a mess. It used to just put in the PA wages and be done. Now it opens ever form under the sun that the Fed is using and putting in div and int and business and farm and everything else and you have to go thru and delete and override. I agree. It's a pain any more. I wish ATX would go back and undo what they have done to it.

Yes you are awesome!

EERRRRRRRGGGGGGGHHHHHHHHHH!!!!!!

but now I have to ask another question - The exchange rate has changed. How do I handle that difference in the amendment, or do I?

you're awesome! thank you.

so far this year, not one damned thing......

oh oh -was I supposed to keep my political snarks off this website...................

A lot of foreigners (well - I don't know if they are US citizens or not. Funny how we are.) tend to own these kind of shops in our neck of the woods. Is Trump going to be okay with this?

our fax machine died. but i wish the world would move on without any more faxes.

UGH! The closer we get to the 15th, the more complicated the returns get. This guy sold land in Canada in late 2014 and the lawyers in Canada assessed an estimate of the tax. And of course it was over-estimated. And in 2015 they refunded him a portion of the tax. But on the 2014 return (previous tax preparer) took all of the tax as foreign tax credit. 20/20 hindsight, the guy should have put 2014 return on extension and waited for everything to clear. So now - do I add back the credit taken last year on the 2015 return (like we do with farmers when the get school tax refund, or fuel tax refund), or do i need to amend the 2014 return.

Never thought I'd be paying attention to basketball, but my daughter wants to go to Syracuse in a couple of years, and were all over COONEY!!!

the business has been operating for a couple years as a 50/50 husband wife s-corp.

thank you!!