Anybody know what to do about efiling nonprofit short year tax returns, as well as the requirement to file 2 in the same calendar year?The IRS has required this... read more
In depreciating a home office, that office is supposed to be depreciated as commercial real property, which is MACRS straight-line over 39 years. Generally, §12... read more
I have had two or three clients reach out to me because their 2023 tax due did not come out of their bank account yet. One of them pays through electronic withd... read more
New Client comes in to file personal and upon talking tells us he created a partnership pre Covid 2 partners. Had no activity until 2022 and 2023 which were all... read more
I am receiving an error on the Texas Form 05-164 extension request when I have a combined group. It states that "Combined Entities must add affiliates to Form 0... read more
We are making updates to state calculations for custom strategies in the Tax Year 2024 projected tax returns and tax plans in Intuit Tax Advisor. As part of thi... read more
I was led to believe an FBAR would be required for a client for 2023. So I answered questions 7a & 7b yes. However, it turns out that the account was never 10k ... read more
On IT 201, Part 1, Section 2a, NYS that box should be greyed out.I entered earnings for federal and nys and it shows excess contributions when added to the actu... read more
Client retired and has decided to rent out his commercial building. How do I switch the asset from Schedule C to Schedule E? I stopped depreciation on the Sch C... read more
I have a LLC owned by two non-resident partners. The LLC generates income but its considered to be not ECI. As such, the foreign partners are not subject to tax... read more
Hi, this is the first year filing form 100 for CA stock corporation. The software is calculating $800 fee for this first year. I thought based on the link below... read more
Bill Romanowski and his wife have around 15 million in tax liability. How was the IRS able to go so far back in years for that assessment of taxes? It even soun... read more