schirallicpa

I appreciate your answer. But my lingering question is - how can she not have a state of residency. Doesn't she have to belong somewhere? She's certainly hasn't left the country.

I'm thinking she will just get hit with ordinary tax and is outside of any deductions in VA. But I have not prepared such a return before. Previously, she was my NY client. I know NY taxes military pay. She is not combat zone nor hazardous duty. Just wondered if any VA's out there had insight. They didn't withhold any VA tax. She actually is stationed out of Rome NY, but has permanently moved to VA. Any thoughts?

I have googled thru a few, and most seem to want to sell you the business plan, marketing plan model, that is not my end. I just want financials. Does anyone use any software that they would recommend. My old dinosaur excel sheets are just not cutting the mustard these days.

I forgot about the roar!

I guess it just bothered me quite a bit. I am trying to be helpful and provide a good service. When suddenly verbally assaulted, I just wasn't ready for it, and had to tell someone about it. I just know that at some point the NYS and IRS will start looking for a 1065 and they will get a load of penalties. I guess thats the satisfaction i get. Anyway - I will not prepare another new partnership return without all partners attending the meeting! I like the 1099-c idea. The bill went out yesterday.

I just had a guy come in here acting like a 5 year old yelling and screaming that he wanted his w-2s back because we were going to charge him too much money. I have never seen anything like it - well, at least not since my kids attended pre-school and witnessed a boy yelling in the lunch room about ranch dressing. The guy and his wife had started a partnership ini 2011 and we did the 1065 along with their 1040. He was telling us how we didn't need to do the partnership return because they were married. Well, no- not telling us, yelling at us. And how he was going to go get the police if we didn't give him the w-2s. Unbelievable. And quite upsetting. The thing was, he had sent the wife in originally, and apparantly she had not told him the pricing of the returns. I know when she called the first time, my secretary explained it all, and then I went over it with her again. But dealing with this guy just made my day. We gave him the w2s and he went out the door yelling that we'd never see him again. Well, good. Meanwhile, I have their returns done, printed, and ready to efile. I'm out quite a bit of time frocking around with this new partnership, and getting things sorted out. Not sure how to pursue that. Last year I did a bunch of work for a guy who just never called back and never answered my calls. So I just wrote that off. But this guy today was a jerk, and I hate to let this just go under the bridge.

I am missing mine. What was the answer?

I looked it up in the Pub. Yep. It stinks.

Having trouble with Fee Collect. Bank says I'm good. ATX says bank denied me. Can't ever log on any more. So I've been on hold for 45 minutes listening to terrible music. ATX used to be the easiest and most helpful. Now they are CCH and they are not even caring about us. I'm thinking I'm looking for new software by another season.

When we put money into an IRA, it is our earnings that we are deferring tax on. Grandparents died and left child as beneficiary on an IRA. Parents drew from her IRA. She received 1099R. The software is calling it investment income and generating kiddie tax. (Distribution was made from funds of $5000 to cover dental expenses.) I know she didn't "earn" it, but the grandparents did. Why does the character of the income change? Any thoughts?

Thank you JklCPA for your help!

no, no. My client was not fraudulent, and I will stick to that. There were many nursing homes participating in a group fund. His nursing home signed a contract along with other nursing homes paying a fee for insurance based on the groups claims activities. When his partnership dissolved, they did not know that other homes had been filing fraudulent claims. How would he know? The partnership dissolved, and therefore ended their contract with the fund. Subsequently, the fund folded, and NYS footed the bill to cover claims. So NYS turned around and billed everyone formerly involved with a proportionate bill to cover their costs. Now NYS is investigating. Documentation for a dissolved partnership. check. Documentation for billed claims from NYS. check. Documentation from the general attys office. check. Documentation from the clients atty. check. What other documentation would you ask for? I have no reason to believe that he was involved in any fraudulent scheme. And frankly I am not sure why you want to assume the worst? I'm not posting questions here to get beat up about it. I'm just asking if any one has had any similar experience or knows of reference to similar cases, that they might point me in the right direction.

the approval letter from the IRS took over a year, but that was because the Library could not find originating documents and we had to send in some other documents to suffice the IRS. But the exempt dept is a little on the slow side.

10-4

I was asked a couple of years ago to help our local library bookkeep a capital expenditure that they had rec'd the funding thru the state. Upon looking thru there books, I knew that they should have been filing a 990 annually, at least for the past few years. They didn't have a clue about the 990. Come to find out, they had never registered with the IRS to get their exempt status either. So we filed the 1023. So - we have received our letter that they are now approved for tax exempt status. How far back must we go filing old 990's? I'm not trusting that their bookkeeping is very accurate. Is there any break for this???? I hate to see to penalty notices that we will be receiving. Any input?

NYS is a mess. The w/c insurance fund that a group of nursing homes belonged to went belly-up. The former partnership dissolved before the ins. fund folded. The former partnership had no idea that all this was going to happen. 3 years later, NYS steps in and says that every nursing home that had been part of the group must pay in to cover claims that have been made. My client, who is now the president of a different company (which is an adult care home, not a nursing home) paid the assessment. He really didn't have a choice with NY. He had his new company pay him a management fee, that he turned around and used to pay NY himself. He will obviously get taxed on the mgt fee. If the former partnership was still in existence, it would have been paid and expensed by the partnership, and he would have received the pass thru benefit of the expense. Like I said, the partnership is dissolved. So I'm trying to figure out how my client can receive any tax relief from making this payment. My client has not been fraudulent. Other companies involved in the group fund were fraudulent.

Still no takers on this one?

thank you.

thank you.

We have here in our nowhere little town a championship body builder and the former front man for Mattel toys - HeMan himself, Larry Opiela. No long blonde locks anymore, but in his mid-50's he's in awesome shape. He has been an awesome trainer for this mid-40 fatty, and I am proud to say that I have lost about 20 pounds since last year. (Well- give or take a little over the holiday....) I have made working out each day a priority and I feel better and have been less stressed. I go every day at lunch. (And hope I don't smell too bad in the afternoon.)

My password had expired and I was locked out of the myatx website. I might as well have been Al Capone trying to get a new password.

Yes - trades and business clients are the ones who must issue 1099s. A lot of which are small proprietors that just do not like spending more money. We also had to hit our payroll clients this year with extra paperwork and associated fees. I know - I'm grumbling! It is money in my pocket. But it just seems so unnecessary. Say - do estates or trusts need to issue 1099s to me? Hadn't thought about that yet?

I taught a tax class this past fall, and dependents questions became our weekly thing. It was great. It is so confusing at first, but after you hammer through it 25 or 30 times, it comes together. My students went from hating dependents, to wanting some of their own! Pub 17 gives a lot of examples to review. Yes - they are all dependents. No - he does not qualify for EIC. My students will now tell you that she should get a part time job and scrape in a couple bucks, so she can get a ridiculous EIC refund!

This is my first weekend. Tax season officially began! And I have a lot more clients already chewing at the bit early this year. I think its the good weather that were having that keeps people motivated and busier. When it gets cold, we tend to "hole-up" and watch TV. Well - I use the word "we" loosely..............You and I go to the office.

I have a number of clients who have paid me more than $600, which is not new this year. But because I just had a client audited, and the IRS was all over the fact that 1099s had not been issued to me (this was a 2008 return) I am really wanting my clients to issue 1099s like they are supposed to this year. But - maybe I'm just not a good sales person - I hate contacting the client to say - Hey you need to give me a 1099, and then sticking them with another fee to do it for them. But I sure am not doing it for free. And when they say - "What? What do you mean I have to pay you for you to give yourself a meaningles piece of paper. Aren't you the accountant? Don't you keep track of those figures? Why should I have to give you money for what you already know and have?" right - good point. Weren't CPA's once exempt from having to receive 1099s? Didn't the IRS once trust us? It's very frustrating. I'm trying to come up with a form letter to sent out to these clients. If I were the client though, I would be P-O'd.