Minnesota legislation signed into law on April 8, 2024, retroactively changed the effective date to reduce the Net Operating Loss (NOL) deduction limitation. Th... read more
Early in the 2023 Tax Season IA instructed taxpayers to add back their QBI deduction when determining the IA Health Insurance Premiums Deduction. Later in the s... read more
I imported TY22 data from several ProSeries '22 returns. ProConnect did not pick up the 1040 line 36 amount to be applied to 2023 estimated tax, and as a result... read more
Hello - I recorded tax payments from the partnership because I use the business checking account to pay them. I debit equity as a tax estimate and credit cash. ... read more
Company sells Chinese goods on Amazon.. Giving a quote (I know, I don't need the work but I like to work) anyway.. it is a C Corporation. I don't think the sole... read more
I have a small non-profit that pays for sensitive medical costs. Do the donee's names and address have to be on sch O for grants given in excess of $5000? Can w... 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
Mr Nerdman: The top 5% pay approximately 63% of all federal individual income taxes. Liberal Client: Are you sure? Mr Nerdman: Did I stutter? Client: But that c... read more
Does anyone know how to fix the following diagnostic:e-file: If your combined group's total revenue for the year is less than $2,470,000, you do not need to fil... read more
Trying to record sale of sched c biz. Have "sold" all the assets, but can't figure out how to record the goodwill. Have tried adding it as an asset and disposin... read more
hello i was wondering if i could electronically fille a tax return that has been already prepared and i have a pdf copy of the finished return but it is still n... read more
A number of clients have received IRS notice CP30A. The penalty for failure to pay sufficient quarterly vouchers has been recalculated. Generally a small refund... read more
A disallowance per IRC 280A of net rental loss on rental property with -0- rental revenue.Property amounts were input with 224 days available for rent in "days ... read more