Lion EA

Part III shows no one. Ever. It's afternoon in Singapore, so I hope they get home from work in a few hours and answer my questions. (Jack, I emailed you since you know more about ACA than I do, and included 1095-C as an attachment.)

Yeah, some high-end, high $, high publicity divorces drag on and on and actually can get a court rubber-stamped separation, usually if all the $ stuff is hammered out and it's child custody issues dragging on or cash support is mostly agreed upon but assets are still being argued over. And, those men (it's usually the men that are the higher earners) want to be able to write off support payments, even if they're still arguing over the kids or who gets the ski lodge in VT. (My divorce was not one of those and didn't qualify for a legal separation while the other side drug their feet.)

They definitely don't qualify as bona fide residents. I've shot off more emails to them since receiving the 1095-C which they haven't even seen yet since their Poughkeepsie tenant mailed it this week. I have another international situation coming up, so was trying to get a jump on both these, at least to the point that I know what questions I need to ask. I don't know what I don't know. And, thank goodness, most of my clients have employer coverage with few job changes. 2015 was the year for a few twists, though.

CT doesn't have legal separations, or so a family law attorney told me. If I had a client who claimed one, I'd research that.

My dad loved Southern Comfort. Client went online to download everything re his 2015 compensation, so I have the pages I quoted plus a lot of other details like share price, how much was withheld for taxes, etc. It reads like a same-day cashless transaction. With an extra $7.53 for a fractional share. I'm used to NQO transactions having the "buy" price and code V price adding up to the sales proceeds for no gain/loss, or a tiny loss if fees were charged. The paperwork also notes Net Shares to Deliver 29.0 and states Income $2,678.50 when I would've expected the $4,018.02 from code V to be the income upon which he paid tax.

I really am getting too tired to think straight. I thought I was pretty good at all types of stock options, but not getting the numbers I expect with this one. W-2 box 12 V $4,018.02 that would be NQ, yes? Grant Date 10/29/2009 Exercise Date 07/28/2015 Option Exercise Cost $6,368.88 Total Exercise Cost & Tax Liability $7,359.19 Market Value of Shares Exercised $9,047.56 Income $2,578.58 but how does that tie in with the $4,018.02? A few numbers may be off, the company confirmation has really, really light print, but the numbers are close. Help!

Guess you can't use that just because someone doesn't want to show their DL to you....

Not single if still married on 31 December.

Alabama Society of CPAs > State Issued Driver's License Required When Filing 2015 Income Tax ReturnIn an effort to provide a solution for the Alabama Department of Revenue Drivers' License requirement for all e-filed returns, specifically those individuals who do not have an Alabama Drivers' License or a state issued non-driver identification, the ASCPA State Taxation Committee has worked with the ADOR to offer guidance for immediate problem. The ADOR announcement below is effective immediately: In a continual effort to fight stolen identity tax refund fraud the Alabama Department of Revenue is requiring taxpayers provide their state issued driver's license (or state issued non-drivers ID) when electronically filing their 2015 income tax return. Tax preparers should make a good faith effort to obtain the actual drivers' license or state issued non-drivers' id from their clients. In the event that your client is a child or elderly person without a driver's license or state issued non-drivers id you may enter the following information in order to electronically file the tax return for your client: Driver's License #: 7777777 Driver's License State: AL Issue Date: 11/1/11 Expiration date: 11/1/17 Children and the elderly are often the target of criminals, the Department will take additional steps to validate refund claims filed using the above information.

I haven't put any lipstick on in months. Chapstick, though.

Isn't there a work-around with all 7s or something? Don't have any AL clients and CT not demanding license info yet.

You might want to join the NY/CT-ATP to network. It's a bargain at only about $60/year. Their bulletin board alone is worth that. You can look for members who are in your area or who use your software or who are looking to enlarge their practice. Dinner/education meetings resume Wednesday 18 May at 5:30 p.m. (?) in Danbury. http://nyctatp.org/

I wash my hands a lot during tax season and take zinc. When I seemed to have a head cold earlier, I told clients and did air hugs or nothing. Handshakes are the worst for transferring germs. I do hugs and arm around another leading them out and "bumps" and other touches that don't involve hands, just clothed body parts. Maybe my hand to their shoulder or upper arm, something like that. I have hand sanitizer on my desk for clients and the bathroom is the next room over for anyone wanting to wash their hands before or after. Lots of drop-offs during flu/cold season. Now it's more in person visits to sign and pickup. But, hubby makes lots of deliveries for me (he has 37 years of teaching and building up immunity!)

Extensions. Although, 2014 and the S-corp 2015 are already late. So, deal with this after you've had some R&R and don't have a deadline hanging over your head. Make them provide all organizational paperwork, put their partnership or whatever agreements on paper, etc. (If they spend or spent money on a lawyer, you fees will look really cheap!)

And, they are teaching the next generation!

woo woo

Had one of those my very first year doing taxes. We danced for two hours before she gave it up. Now I use Rita's method to wrench it our of her hands! Unfortunately, they always owe MORE than before they hint that they might've taken money out of their retirement plan, because only the 10% penalty was withheld and not their income taxes. They don't believe me that it would be even worse if they hid it from me when IRS & CT add on penalties and interest.

His employer in the US was Vassar. (With time zone differences, there's a real lag in communication with them.) This form arrived at their house in Poughkeepsie and was sent to me by their tenants, so he hasn't even seen it yet. Perhaps Vassar continued insurance for a year or they used COBRA; haven't heard yet. They will NOT be abroad for 330 days during 12 months, as each adult had ill, aging parents and a funeral to attend and homes to clean out, etc. They would be back in the states for 1-2 weeks at a time for each crisis, and the dates each traveled were different for each spouse. Wife had more family in the states ill and dying, but husband had some things to attend to here (think his current position at U. of Singapore had some connection with his short-term assignment at Yale) such as meetings at Yale and at Vassar and college visits with his HS daughter. The two daughters were in Singapore slightly longer than their parents, but I don't think anyone came close to 330 days with the sick parents/grandparents issues. So, they don't get the "out of the country" exemption, right? So, what does the form mean? They all had an offer of insurance of some type for some months and husband only for others? But, do the codes mean only husband was covered? And, no one else? And, no one at all was covered from Aug-Dec? Penalty applies for four people for 12 months? Would it make a difference if they have coverage through U. of Singapore?

I called a client to ask if his oldest son filed his own return as I thought he told me in an earlier phone call, but have son's paperwork from dad. Confused the heck out of dad. It was another family with two sons with one of the names being Josh in each family. I did write notes from the earlier call and did have them in the folder of the correct family, a folder that was a little deeper in my stack. Woke up this morning knowing I had notes and found them and emailed the dad that I confused and gave profuse apologies and swore I got sleep last night and was good to prepare his family's five sets of returns with no more confusion. Lied through my teeth.

Family of four living in Singapore for a few years, US Citizens, just sent me their Form 1095-C. I have so few clients that aren't fully covered by employers and I'm so sleep deprived, that I'm not making sense of this. When in the US, he taught at Vassar. Vassar filled out the form for only the husband's SSN. Column 14 has 1E for Jan-Jul and 1H for Aug-Dec. 15 has $117.51 for Jan-Jul and then blank. 16 has 2A for Aug-Dec and blanks above. They are living and working in Singapore, but did make a lot of trips back to the US with ill, aging parents and one funeral and college visits for oldest daughter in HS. So, they do not meet the physical presence test, and we take the foreign tax credit. He works for the University of Singapore.

If one spouse itemizes filing MFS, then both spouses must itemize if both are filing MFS. (I think it's technically that the standard deduction of the other spouse is then $0.) Not first to file. The itemizer sets the method. Also, if the other spouse is not filing MFS (such as HOH) then not governed by the one itemizing.

It is a circular calculation and the IRS has said you can continue until the difference is less than $1. I think you have the formula and also an alternate calculation that you can choose when SE. Check your software for Help or Tech Support. I can't help you with ATX.

I guess 7-Eleven doesn't like Alabama. https://www.7-eleven.com/Home/Locator (There are 7 within 30 miles of my tiny town in the forests of CT.)

Nor me. Lots of hugs. Well, I do have a client who's been bringing me lunch for the past couple years. She schedules an appointment at noon; we eat; I prepare her returns; I brew some tea; and we eat dessert. The first year I provided some of the food. But, she loves to cook and is single, so she's been bringing it all including homemade soup. I just make us a cup of tea to go with dessert. And, this year a couple of ladies who always come together made plans to go out to lunch with me after tax season (but, not sure if they're treating; I'll try to pick up the check).

Read the partnership agreement. If there is none, have them write down their joint understanding. If partners are active in the business and taxed as a partnership, SE tax. GP would be spelled out in agreement and could include anything that would be paid out even if they had no profits, such as a set $ amount per month or healthcare premiums.