schirallicpa

still have a black nail from an earlier anvil event. can still eat my popcorn........... :pop:

ah-ha! forgot I could do that. It worked. Thank you!! :pop:

I have had a client that has not been accepted. The status is transmitted to EFC. has had that status date since april 2.

I was looking at the standing computer. thought I would have too many unorganized piles of paper to not be at the desk. besides, I need to be close to the popcorn!! :pop: "I am________________________hungry for popcorn.............................."

husband and wife only have w-2s. kids left last year. Told them in 2012 that next year - 2013 - they would lose kids and credits and would need to visit HR to up withholdings. In 2013 they owed $2500 and had fits. took money out of IRA - of course - to pay tax. Told them again - go to HR. Printed a W-4 for them. Get withholding changed.........yep........in 2014 they owed $4500. Withholdings went down....... They are letting everyone know that next year they are going somewhere else. good....

I hate it when they say that kind of stuff on TV. New headline: 17 out of 19 television reports are just bunk. :pop:

have considered a popcorn machine. I love popcorn. my 20 pound gain this winter would be more like 50!!!!!!!!!! :pop: Our bank - which is a credit union - has popcorn sometimes. So I go there frequently. :pop:

page 18 of the 2013 Pub 721. fully taxed until they reach 50. (my client is less than 50, so I happily moved on....) :pop:

Nevermind.......................got it. love this popcorn guy.........

Client doesn't seem to know, but she has been through a lot and that is partly why she's collecting disability. However, I am finding some literature indicating that NYC pays - infact pays a double load of dbl ins. But not finding anything definite. And google searching leads to tons of stuff about 9/11 scams, etc. Just wondered if anyone had dealt with such before.

The client's mother sold timber. Was going to be getting about $50000 for all of it. She was selling the timber with the intent to give the money to the 5 children. But she was afraid she'd have to pay tax so she had timber company write checks and give 1099 directly to 5 children. So my client has a 1099 for $10000. Anyway around this one?

gotta love people who pay thousands of dollars in investment fees, and then bawk at your bill.

usually when the previous tax preparer has a low fee, there is a reason - and that usually means you get to do some amending.

we use suppliesoutlet.com and buy 6 toners for the cost of 2 for brother. sometimes they run out fast, most of the time they are just as good as buying name brand. They take paypal and they ship pretty fast.

LOL at the farmer papers remarks. I have quite a few little farmers. they all smell the same. But I cannot complain to much. See the little guy in my picture. He peed on someones w-2 once.

If the estate has not sold the home that is being rented, then the rental activity is reported by estate, not individuals. It is then passed thru - with anything else - on K-1. No- you don't need the bank balances on the 1041. Nor the value of the homes. Keep in mind that you need the values of the homes at DOD for gain/loss calcs later on when estate sells homes. If no activity in 2012, don't need 1041. Depends if you had income or not for 2012. Interest and dividend are reported on 1041 and passed thru to individuals on K-1. Sale of stock in 2014 is also reported on 1041 and passed thru to the individuals on K-1. Remember that at DOD, estate is created and everything (income and assets) are the estates, not the beneficiaries' until distributed to the beneficiaries. Remember also, that estate generally takes everything at current market value, so this saves on many cap gain issues. It gets confusing to the client because they are receiving all this money from bank accts, etc and they think they owe "inheritance" tax on all that. They will basically only pay tax on interest, dividends, stock gain/loss, and net rental income that passes thru.

I never saw the popcorn before!!

It would be nice if the software would put a way in the fixed assets to allocate pieces of an asset to different schedules. Run into this with vehicles sometimes too. Part used for business, part used for farm, some Sch E travel, etc. Yes - became commercial property. I agree with your logic.

Just did a theft loss and worked thru the theory. I wanted to deduct from income (this was a schedule C) so he wouldn't be SE taxed on it. But - heres the thing. It is earnings. Whether it was banked, lost, stolen, whatever - it was earned and is SE taxable. The loss goes on 4684. In my case we had a copy of the police report and used that figure. And he also received about 1/2 back from insurance, which offsets the loss on 4684. And when you efile the 4684, for some reason it requires both pages of the form to be attached.

Has it been a bad winter or what. I always put on a couple pounds during these months - sitting on my fanny so many hours. But this year is worse than ever. That many more lunches ordered in. That many more exercise sessions skipped. That many more walks not taken. It has been sooooo cold for soooo long, that I have hardly been out. I personally don't want it to get warm too soon. I need my sweaters to hide in for a while....... Only to be given a box of Niagara chocolate bars to "sell" for a fund-raiser this morning.

I did my cousins return a few years ago and put down her maiden name as the last name. I don't think her husband appreciated much. Didn't do their return again.....................

Ok - he's been collecting this pension for a little while and this is the first year that I am working with him. Looks like we need to contact the previous tax preparer....... thank you!

The closer we get to April 15th, the stiffer the billing becomes. I charge a full bill on most clients - for each and every form or schedule we work on. Then give a "courtesy discount" on most. Those discounts go away after April 1st. I raised my basic rate 15 this year after 10 years. My secretary is great at pointing out that its been 10 years........

I see this topic was briefly discussed a few days ago. I have not had much experience on this. In that pension simplified method section, a: how do I know what the death benefit exclusion is? b: whats the deal with the combined ages question c: what are they looking for for box 6 amounts previously recovered after 1986.

I hate the new home office worksheet.