Lion EA

There are some good books. Hammer writes one. But, if his church is part of a mainstream denomination, then his national church or regional governing body probably has an excellent manual (even if his church is not following it !!). Do talk with one of our members who does clergy taxes. It's a hybrid, and backwards from the statutory employee hybrid, where he's an employee but self-employed for FICA/Med purposes. That's why some churches prepare 1040s; on a W-2 only Box 1 has to be filled in. You also need detail on the housing allowance, minutes from the meeting/employment contract/letter of agreement as that is not income for income tax purposes but is income for SE tax purposes.

Also, I'm using the Engagement Letter from The Tax Book and saw their Health Care Reform Overview that I will go over and have signed for any client who lacked MEC during 2014. Almost all of mine are covered by employers, so I don't expect much to do for ACA. For anyone who doesn't qualify to Check the Box, I'll probably follow the NATP questions to hopefully get all the details I need. I have a couple who began 1 January 2015 with Marketplace policies.

And, if you're an NATP member, their January magazine had 1 1/2 pages of questions to ask and questions not to ask.

I check the box. Once in a great while, it has let me talk to someone -- usually in a STATE, though. Go figure.

I am on at least one board that allows editing for 15 minutes. I've hit Post and then noticed I forgot "not" or something else that entirely changes what I meant. I'm not sure I've ever deleted, but I do remember other posters pointing out that I gave too much identifying info and should edit or delete. I have asked a moderator to delete for me someplace, sometime.

I also have the Lisa Ihm/BrassTax booklet for $20 on my desktop. I've attended her seminars on other topics and like her a lot.

I do that too. I've even put a sticky-note over a SSN that threatens to peek through, as well as use a sticky-note to hold my origami-folded form in place. Can I charge extra for origami? And, then there's Catherine's method of address labels over window that don't line up. And, my usual regular envelopes.... More than one way to skin a cat. Don't pay extra if you already have cheap envelopes around. The only window envelopes I buy are the ones that match the blank perforated forms that I can use for both 1099s and W-2s for any years.

CT doesn't have credits, well not much. They did add EIC a couple of years ago. Wish they had not.

I just use any business envelopes I happen to have to mail to recipients, making sure I include the line about Important Tax Document Enclosed when I address. But, I don't have very many to do.

Jack, I remember hearing what you're saying long ago, maybe during HRB training. Could it be in Circular 230? I think you're right, but don't know where to direct you. Do post when you find it, whichever way it goes.

Frango Mints!

They need another piece of paper, one more box checked off, to cover their butt. Why not make the decision on due diligence/logic instead of checking every box? Too hard, I guess.

What about that partial roof replacement that's still on the books but a decade later the whole roof was replaced? I just got a new client with pages and pages of his depreciation schedule, every line reading "equipment." Does he have three furnaces still being depreciated? Dozens of computers, many now in the hands of his children? He's an artist and has no idea. Extensions. Lots of extensions to give me time to ask lots of questions.

Those that followed the old rules are not compliant with the new rules. So, those supplies and repairs that were over $200 ($500 if elected at the beginning of a tax year, but who knew to do that two years ago?) should be on the depreciation schedule. And, that expensive roof repair that's being depreciated may be a repair after all and need to come off the depreciation schedule. Both those cases need 3115 (or an amended return if recent enough). Once a client is under audit, it's too late to file 3115. Form 3115 is due by the filing date, including extensions, of 2014 tax returns. I'm going to put a lot of clients on extension to buy time to do the best for my clients. And, to see where the understaffed IRS will go with this. (If it were me, I'd audit biz returns, including schedules C, E, and F, without 3115s -- low hanging fruit.) I hope this is not a pet project of the IRS, because I have never filed a 3115 except in classroom situations. Have taken hours of classes and read tons of texts and those Rev Procs that make your eyes glaze over. Have a stack nearly a foot high to re-read from courses and forums and such this month. Heard of some large firms that have their backroom interns churning out generic 3115s to slap on every tax return. I find this much scarier than ACA, at least for my clients.

During February.

I use the NAEA group policy. It's cheaper than what I had when I started out for the same coverage. Check with your professional organizations.

Only if you take me your tax preparer.

We discovered on New Year's Eve that Prosecco goes great with chocolate. Hubby's birthday is today, so maybe we'll do that again tonight. Or, is red a good pairing with dark chocolate? Did you see the 60 Minutes re pot pairings with food and drink?

CT also has the 1099Gs online. And, we stocked up on chocolate at the factory outlets after Christmas. My hubby is taking no chances that I'll get even crankier!

Tell them to do their own due diligence!

Time to look for another job or go out on your own where you can be honest. Don't hang around and be tainted by perception even if you aren't one of the "creative" preparers at your firm.

That's the part I don't know. Does the IRS consider when the loan was taken or when it stopped being a loan/became a distribution? The real problem with the loan is not the 55 but that it originated before he separated from service. Read IRC Section 72(t)(2)(A)(v) and surrounding sections.

If any of you can take the HRB course, it's an excellent text with practice tests with explanations. Has been available as an online course, also. Obviously for the live course, the instructors can vary; but the text and tests/explanations are still outstanding. Just don't know if HRB still allows non-employees to take their courses. (Got me through all four parts -- I'm old -- at one time, but took six months of my life.)

Congratulations, Jack!

I know. Last season has run into this season, and big law changes and late extenders and the first year of ACA phase-in and I'm cranky already. Hubby stocked up on chocolate to throw at me. You do so much for us, Judy, that I didn't mean to be snippy to you. I think we're asking some specific questions that no one really knows how to answer, what the IRS will think. And, when they're hypothetical and I'm busy already, I'm going to direct to the instructions or an IRS cite or quote a textbook but not go into detailed calculations that I don't have time for. Our software will handle most of the common situations. The shared policy on two separate tax returns will need some manual work that has to be done by the preparer who knows his client's numbers. He's welcome to come here to see if someone will check his math, and someone probably will. But, OP does need to read the instructions and also chastise his clients for not reporting life changes to the exchange and charge for his manual work, too.