Lion EA

Yes, we have David Mellem &/or David & Mary every year or two. Great speakers. You can subscribe to their free e-newsletter. They also research your questions for a nominal fee. Knowledgeable resources. Thank you, Judy. I did start a new topic as you suggested.

Any of you in the greater tri-state area and even beyond, NY/CT-ATP has an all-day October Seminar that includes 2 hours of Ethics. We are a private group. We hire our speakers. Our education committee decides the curriculum. We have rejected the Cir. 230 rehash, the directory of IRS positions, and other ear-bleeding topics. We request topics that are actually happening, what the IRS is looking at, slippery slopes to watch out for, actual case studies/court cases, Q&A, etc. http://www.nyctatp.org/ Friday 20 October at the Ethan Allen Hotel, Danbury, CT (special room rates available) Speakers: David & Mary Mellem

Any of you in the greater tri-state area and even beyond, NY/CT-ATP has an all-day October Seminar that includes 2 hours of Ethics. We are a private group. We hire our speakers. Our education committee decides the curriculum. We have rejected the Cir. 230 rehash, the directory of IRS positions, and other ear-bleeding topics. We request topics that are actually happening, what the IRS is looking at, slippery slopes to watch out for, actual case studies/court cases, Q&A, etc. http://www.nyctatp.org/ Friday 20 October at the Ethan Allen Hotel, Danbury, CT (special room rates available) Speakers: David & Mary Mellem

You also can ask Eric to add a CCH Axcess User Forum right here. (I use ProSystem fx.)

Writer Louis Leung‏ @ricedaddy7 Jul 12 When you really want to slap someone, do it and yell "Mosquito!"

I use what I think is called Intuit Merchant Services, because it dumps the payment info, including fees, right into my QB. As a ProAdvisor, I don't have the monthly fees, just the per-use charges. I don't have a lot of clients, just big complex returns. So, I don't have a lot of fees. Most still prefer checks. But, I also have a PayPal account. I just want to make it as easy as possible for people to pay, and for me to account for it. I too make sure my fees cover ALL my overhead costs as well as a profit.

I spent the Fourth of July in WV with Appalachia Service Project making homes warmer, safer, and drier. It was very ASP appropriate that we watched the fireworks that were in the Walmart parking lot from the Lowe's parking lot, the two places we shopped the most, and probably the two largest employers in Nicholas County.

I do my best proofreading after I hit Submit

In a way. Put whoever should appear first, let's say husband to keep my pronouns straight, and use his return as the original. You'll be adding the wife's information which will end up in the center column on the 1040X. The MFJ results will calculate to the right column. If wife is in your system but not husband, use her as primary taxpayer instead.

I have used the NATP webinars. Also, CCH, both webinars and live classes at their User Conference. I have found junior college and college courses to be theory and not practice. Read the instructions and IRS pubs and case studies in The Tax Book and any resource that shows filled-out forms to have a feel for what you need to know before spending money on courses. But, it will be money well spent. Partnerships and S-Corporations are enough alike and enough different (pension, health care, other issues) that I have to remind myself which I'm doing -- don't like the new deadlines because I end up doing those two entities the same time instead of a month apart. C-Corporations are actually easier for me, as long as I can balance the balance sheet, because they are free-standing entities with my clients less tempted to commingle funds. If you have new entities, with a zero beginning balance sheet, you will be able to follow the flow through to year end.

He can't depreciate AND use standard or actual. Depreciation, maybe SL as Abby said to give flexibility, is used with actual expenses. Standard includes a depreciation component in it that you will break out upon sale or trade-in. Business percentage only, for the vehicle, computer, etc. Usage logs and a mileage log will be important.

Hubby thinks their robots dial many more calls than can be answered at any one time by their call center employees, counting on answering machines, etc. So sometimes you or another real human answers but, thank the Lord, no employee is available quickly enough to bug you and you have silence.

If how your .pdf appears, without you moving pages, is a high priority, you will want to spend this off-season demo-ing tax prep software to find one with priorities more similar to yours.

My house cost $103,500 and it's paid for, too! I had to refinance to buy my ex out for $40,000, but that's paid off, also. Gotta make enough money to pay the property taxes and oil bills.

If no one complains that your prices are too high, then your prices are too low! I have only so many hours in the year. I can fill them with $500 returns or with $225 returns. I choose to NOT be the cheapest. I choose the higher priced returns. Then I can spend an hour with my husband or granddaughter. I think it was someone on this board who said: If he was going to work for free, he'd take time off instead. (I have plenty of clients at a LOT less than $500. Not that they should be less, but we all know how hard it is to increase prices enough to keep pace with their more complex financial lives as well as inflation and even my increasing worth. But, I try not to take on a NEW client under $500. Remember I'm in pricey Fairfield County, CT.)

This is better than all the reruns on TV during this holiday weekend !!

I hope he's looked into the bylaws of his favorite charity, also. When my church receives shares, it is required to sell them immediately via an unrelated third party in an arm's length transaction. It will not follow any restrictions from the donor, such as selling along with the other privately-owned shares. In fact, it cannot accept any donations with strings attached.

What's his basis in his membership shares? When he donates, does he use his cost basis or FMV or the lesser of or...? Appreciated shares? Is that why he's trying to give shares now and not cash later? As well as the lawyers, what is a qualified appraisal going to cost him? Does he think he's putting all those expenses on the LLC as a whole and won't need his own lawyer, etc.? Yeah, at my age I might be resigning about now or spinning off the tax returns and just doing the bookkeeping. I'm staying tuned for the next episode of this soap opera!

Hey, Lynn, Congratulations!

I wouldn't charge for 8948, because I'm supposed to e-file. It really depends on what work was involved on Schedule C and how much trading to enter on the various Forms 8949. I would not be lower than $325. Just completed a similar return with three 8949s and AMT that was $545. And a recent return in which I could import his Gain/Loss statement (broker uploaded Excel spreadsheet to FileShare) that was $500.

Start by reading the trust document.

Get to know the partners at large accounting firms, so they will refer clients to you that are too small for them. Get to know tax preparers who specialize in businesses but do not have bookkeepers, so they will refer the accounting to you. Network at your local chapters of NATP, NAEA, etc., to let preparers know that you specialize in the day-to-day accounting/bookkeeping. Drop in on prospective businesses in their slow times to meet face-to-face and leave them a brochure of the services you offer. If you specialize in a certain industry, find their local trade organization and offer to speak.

Yes! Both my laptop and desktop seemed to have stopped updating after last March, March 2016. My techie gave me an article to help with my laptop issue of being ready to install 10, already downloaded, upon reboot. I got through all the beginning stuff re removing three files. It remains on 7, thank goodness, even after shutting down, after rebooting, after everything I needed to do this week. But, I can't do the ending stuff in the article re making sure I get 7 updates but not install 10, because it still thinks it's ready to install 10 and won't search for new updates until I do that. Talk about a Catch 22. I'm sure I'm missing many important security updates. I need to get my techie over here. But, this week has been dental work, out-of-town concert for daughter, largest client having issues needing my time, etc. Soon.

I agree with BHoffman. Write a personal note to your favorite clients telling them you have time to take on a few new clients just like them. Give compliments. Get specific, such as family members, other investors, other truck drivers, if you're looking for a specific type. Offer them a discount on their fees for each new, paid client. Include several business cards. Also, if you're not buried under extensions, offer to speak at places that would attract your preferred clients. Retirement homes. Realtors, if you're looking for homeowners. Any of those networking groups, such as BNI as was mentioned, if you're looking for small business owners. Stop in at small businesses, if that's your target, that you think are slower in the summer; wait until after Labor Day for those busiest during the summer -- introduce yourself and leave a brochure re your services offered. Some around me in Fairfield County, CT, greet people at the train stations during the morning and evening commute to let people know they handle NY commuter/multi-state returns. PTA meeting to talk about kids and their part-time jobs and tax obligations and filing out Forms W-4. Decide your target, and then look for where to find them. Let everyone you know, know exactly what you do. Answer questions for people. Church, banker, lawyer, broker, parents at your kids' sports events. My broker has sent me multiple clients. Church has been a great source. Network at your local chapters of NATP, NAEA, etc. I've received biz clients from other preparers who do only 1040s. I know others who get the 1040 overflow from mid-sized CPA firms who handle mostly entity returns.

Thank you, all.