Yardley CPA

Just got back from 7:30 mass. No choir at 7:30 mass. It goes a bit more quickly.

To those who celebrate, Happy Easter! Have a great day today. I will probably be back at my desk after Easter brunch with my family.

Thanks, Jack. My question is more after the fact since this person had a large number of 1099 - R's. Moving forward, I'll sort them before entering and make sure they are alpha.

Does anyone know of a way to sort 1099 - R entries so they turn up alphabetically on the Summary by Payers page?

What area is the picture from?

I've read some preparers (and even the self-prepared programs like Turbo Tax) increase their fees as we get closer to April 15th. The article mentioned that Turbo Tax ended their special offer on March 18th and now individuals purchasing their program will pay a premium. So do your rates increase for those clients who are just now dropping off their information versus what you charged for the returns you prepared earlier in the season (all things being equal.) I don't add a premium to those who drop off information later in the season. I may be less inclined to discount the return any but I certainly don't add a 25% "late fee" to the invoice (I would never actually show that on an invoice anyway but you understand what I'm saying.). Do any of you charge more as the season wears on?

Good morning, ATX Community. I just want to verify that my understanding is correct. New client has taken grandson as her dependent for many years. On January 1, 2015 the grandson passed away. It's my understanding that the client can still take grandson as dependent on her 2015 return and that I should indicated he lived with her for 12 months. Is my understanding correct? Thank you.

Mike...maybe this will help: Form 1098-C. You must attach to your return Copy B of the Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes, (or other statement containing the same information as Form 1098-C) you received from the organization. The Form 1098-C (or other statement) will show the gross proceeds from the sale of the vehicle. If you e-file your return, you must: Attach Copy B of Form 1098-C to Form 8453 and mail the forms to the IRS, or Include Copy B of Form 1098-C as a PDF attachment if your software program allows it (see below for instructions). If you don't attach Form 1098-C (or other statement), you cannot deduct your contribution. Just fill in the amount on the front of Schedule A and then attach the 1098-C to the return.

I'm not sure this has any effect on the issue but at the end of each day I shut down my computer in my home office. The next day I turn it on, fresh. I have not experienced the issue once this year. I'm sure many of you probably do the same as I and are still experiencing the issue. Just wanted to relay what I'm experiencing. Hopefully it will be resolved at some point in the future. Overall, (and I'm not looking to jinx anything) I've found the 2015 program to be working very well.

KC...thanks very much for your input. The funds were distributed to the clients wife. She in turn cut a check to each of her two sisters for $255 each. Maybe its best to place $255 on line 21 for my client?

Yes, they did receive the cash as well as the 1099-R.

Is there a drop down selection for New York State Disability withholding? Is it NYNDF?

Thanks for the replies.

Client received 1099 R in the amount of $765 from NYC Employee Retiree System representing income from his Mother-in-Law's estate. 1099 R is in the Mother in Law's SSN. The final estate return was filed four years ago and there has been no activity since that time. Client contracted the NYC Employee Retiree System and they indicate the distribution is correct. Client would like to include this on his return? Not sure that iis correct? Any thoughts?

mrichman...lets see if someone else can verify my statement. I thought that completing the input page the proper percentages would calculate.

Doesn't the Schedule E Input page allow you to indicate the number of Fair Rental Days, and Personal Days. Won't those entries then drive the percentages? I think if you input that information it will calculate the depreciation correctly. No?

I provide paper copies to all my clients. For larger clients, I purchased the Tenenz Extended file folders (I think they expand to 1") http://www.tenenz.com/index.php?view=search_results&detail=1&pid=12-390 I also provide all their information on a USB Flash Drive.

Thank you All for your advice and suggestions. Here is the latest on this situation: I did find out their living expenses: The Minister and his wife live in a single family home. Fair Rental Value of that home is approximately $18,000 per year. The couple pays all utilities which amount to about $518 per month (total of $6,216 per year) There is no utility allowance from his church. Monthly general maintenance amounts to $44. (total of $528 per year) The actual expenses (rent, utilities, maintenance) amounts to $19,944 per year Fair Rental Value plus cost of utilities amounts to $24,216 Minister travels about $500 per year to visit members of the church (would this go on Schedule A?) No home office, No Schedule C No other expenses. I use ATX and input the above information into their Clergy Worksheet. 1040 now reflects $30,050 in wages (The Ministers 18,550 and the wife's 11,500) Small amount of interest. Self Employment Tax of $5,093 (calculated from the minister's $18,550 in wages + $17,500 housing allowance). Small amount of student loan interest. Educator Expenses. Standard Deduction Tax is calculated normally. With all of your assistance, I believe I've completed this return correctly but wanted to run the results past you again to make sure I am not missing anything. Thank you.

Thank you for the response. Yup, they did not donate to this charity last year.

I recall completing form 8283 a couple of weeks ago on ATX and it allowing you to choose a donor (similar to the QuickEntry on the W2). I don't have that option now. I have a rather long charity name and the feature was a nice one where I could simply pick it from the drop down. It was populated with the same information from the previous entry. I assume that feature has been removed?

I agree...the status in the Return Manager is a real nice feature.

Wondering if any of you extend a discount (or pro gratis) for the simple returns of a clients children (dependent children up to 23 yeas old)? Where there is just a W2 or one 1099 Misc. Do you extend a courtesy to them or are you charging your "minimum" fee? I tend to charge a lower fee. I'd rather ensure the return is completed correctly and that the dependency election is properly determined.

I know very little about Clergy taxes. Very much appreciate all your insights. Wondering if it may be best to steer them to someone who handles this on a more frequent basis than I. I want to do what's best for them.

Thank you.

Good morning, Community. I wrote last year about my first Clergy client who moved to his Church mid-year. This year, he and his wife were members of their congregation for the entire year. He is the youth minister at a Baptist Church in North Carolina. Here is some information and I am rounding numbers: His W2 from the Church - the only entries: $18,500 in wages and $17,500 Housing Allowance. Zero's in the rest of the federal information. State wages listed. I'm told the Housing Allowance is properly reflected. Wife has a normal W2 from the local school district with all entries made. Lets say the wages were $11,500 A bit of Interest Income A bit of Student Loan Interest. Standard deduction (not enough for itemized) That's it. Nothing else. I just want to ensure my understanding is correct: The 1040 return should reflect total wages of $30,000. Self Employment Tax is calculated on the $17,500 housing allowance. Normal entries for interest and student loan interest. Tax calculated normally. AM I MISSING ANYTHING HERE? As Clergy, are they entitled to any other benefit that I am missing? Are there any other forms or information I need to provide. Thanks very much for help on this.