Lion EA

OK, I should know this. Adult qualifies to be on parent's insurance plan and was all 2016. Just check the box and run? Or, type in Form 1095-C on his return as well as on dad's? A different son, 27, says he had insurance but can't find Form 1095. I think I have to see the form this year, yes? (I think I trust him, no job change, HSA on W-2, big NYC company, etc.) I have way too much to do in only three more weeks, and every one is arriving with something new about it.

Yeah, NY and CT

Does the gain go on line 21? Schedule D short term?

One of our DD rules: know or should have known. When you first interviewed her, you knew what you knew and prepared her returns that way. Now you know other things that require you to ask more questions. That first divorcing year is especially hard on preparers, because both parents may have lived in the family home with all the kids more than half the year and feel entitled, have attorneys not familiar with tax law telling them they're entitled, are used to being your clients, expect you to counsel them, and are angry/frustrated/scared/whatever. Each case is different, but choosing zero or only one probably lets you sleep better. Neither client will trust you quite as much ever again, because you do know their ex. If you love them both, then think of two local preparers you respect and send one to each. And, you can NEVER say anything to one that you learned from working with the other, from his documents, from his lawyer, nothing at all.

Sounds that way. I've had good luck talking to a real person on the e-Help Desk. They can't tell you about the "other return," but I've found that they will give you a pretty good explanation. And, if you have your client and her dependent conferenced into the call, you can get permission to talk about everyone involved. Start with having your client ask her son if he filed his own return, claiming his own exemption (probably need to see a copy of the return to get that question answered). Sometimes, there's a work shelter that is trying to help the disabled with which they work by providing a tax preparer, VITA, or other volunteers. And, there could be a hack of medical data that stole SSNs from disabled claim filers that are good candidates for not filing returns, good SSNs for thieves to use.

Some videos posted by The Inn at Starlight Lake in Starlight, PA: https://www.facebook.com/StarlightInn/

The "kids" see them at The Inn at Starlight Lake in PA, but I've just seen them flying over the lake and not up close and personal.

I had a NY reject once. And, the first year CT was really jumping on potential fraud, I had a couple.

Yeah, I lost it with an S-corp client yesterday. Not the main reason, but they deduct the $400 boots his wife needs for their RADIO program. And, the kids travel with them to expensive resorts; he says they're employees, but not on the payroll. I charge them almost enough. But, they don't listen to me anymore. I won't miss clients that don't trust me. And, that I can't trust anymore.

I don't get much in the way of gifts. But, this year two retired teachers who drive in together from some distance researched toys for my 17-month-old granddaughter and showed up at their appointment with this great walking/ride-on car with lots of bells and whistles that she will love. Avery visits next week, so we'll take off the ribbons, open the box together, and let her toddle around the living room. Those two women were really excited telling me all the features!

http://www.fingertiptaxfacts.com/index.php

And, she may need a new backhoe before this season ends if we all send our PITAs to her....

Hang in there, Catherine.

Me too; I've used it, especially on the phone for that quick number. I'll pass this along to my colleagues who put it together.

Risk = Reward. If you want it safe and in a bank, interest rates are really low right now. Saving money now is not the only reason to open an IRA. There's deferring taxes as the money earns interest/dividends and appreciates. There's starting to save for retirement while young and taking advantage of the compounding of interest. There's teaching your child about saving for the future. But, I can't force someone to choose a Roth instead of a Traditional when the Traditional is not going to reduce this year's taxes. In fact, I had someone chose a Traditional contribution in a year it was not going to save them taxes, because they already had a Traditional and wanted to add to it to enlarge their investment choices instead of starting a Roth with only $2,000 or whatever the limit was in 1998 or so and most mutual funds wanted at least $2,500. Who was it that posted the horse/water/drink cartoon? I have a Roth, my son has a Roth, but not all my clients want a Roth.

Deb is right. And, so are the rest of us here. We good guys/gals will stick together. Don't try to bamboozle us, or we might need a Donate button to buy Rita more acreage.

I feel behind, because all those partnerships clogged up the last month while 1040s kept dropping off. And, when I think I can pick up speed on personal returns now with no more stops for businesses, they're missing info and the new NY DL requirement and the time change and I'm tired and my granddaughter will be here for a few days next week and every single one has something new -- I retired; I received this 1099; I moved to a new state last summer; my kid dropped out of college and moved back home; my health insurance changed. You know, I was really good about asking for DL at the beginning of the season, but spending a couple weeks/a month on biz returns broke my stride. I've been forgetting, and then have to wait for them to upload a copy or fax. I'm using the E word as of today and just hope that my back log before today can be completed by the deadline. Today received tax info from a client who emailed me 3/2 about giving me his documents, and I told him as of 3/2 we could file on time; don't think he'll be happy today when I tell him as of 3/20 we cannot file on time. I think I have more in-house/complete this year with new clients, but I have more that I haven't touched right now that at this time last year.

I put Roth first, because it would be my preference and what I actually did with my son when a 1099 showed up when he was a teen (we thought it was C-I-T with no money either way, but he got a check and a 1099 at the end of camp, so we immediately opened a Roth). But, I've had parents insist they want the traditional for their child if it saves the kid only $1. I don't make the decision; my client does, or their parent if a minor child client.

It was for services rendered, so Box 7 and SE tax. Unless mom wants to risk loss of chair by having daughter file an SS-8 and Form whatever-it-is that says she should be an employee and pay only her half of the FICA/medicare. Do check your state laws re labor in a salon, probably something like 16. Might give you some leverage over salon owner to issue a W-2. But, didn't mom notice that daughter had no withholding? Didn't mom have daughter turn in a W-4 to salon owner? Why is mom upset months after the fact, but didn't mind daughter getting money during the year?! Silver lining is that daughter can start her Roth or Traditional IRA and get a jump start on college saving.

College kid has investments with Vanguard and pays taxes on interest, dividends, and capital gains on his/her tax returns. Kiddie Tax applies, also. If kid is a dependent, parents will take education credits. Lots of twists along with the above, but that's the short course.

I had given out my cell when I went out on my own, but quickly found out I could have a second line from Optimum for only $14.95/month bundled with our house phone, TV, and internet (actually, hubby noticed that on the bill). So, I weaned most of my clients off my cell to my office line with all the voice mail, call waiting, caller ID, voice messages sent to my email, etc., services. I had a couple of holdouts. But, if someone called my cell, I returned their message from email or my office phone. I did not call back anyone who didn't leave a message. Now, as you say, I have a few who text. I don't like it, because it's not as easy to save to their file on my computer, and I don't like texting back with my old eyes. But, when I re-printed my biz cards, I added a line for Txt and my cell # after the lines for Tel and Fax.

And, those expenses do not duplicate on Schedule A. Those expenses were paid with pre-tax monies. They do not create a Schedule A medical deduction. They do get reconciled on Form 8889 where they keep the corresponding amount of the HSA distribution from being taxable income.

Facts & Circuses!

I grow corn and soybeans in IL and have sharecroppers who pay me both cash rent and via crop shares. My tax return includes Schedules E and 4835. I file a non-resident IL return. I don't know much more than that, because I don't have any farmer clients in Fairfield County, CT. I just do what my cousins do because they own a lot more land than I do, have been farming for much longer, and their land is contiguous to mine.

And, traditional IRA with basis. A ratio. And, a pain during busy tax season. Charge for it !! (And, keep your calculations.)