I'm very sleepy and feeling kind of ill so I think I'm just going to go to bed early tonight. My roommate isn't home yet so this gives me an extra day to sleep on the proper way of handling her, and also, one more day for her to live. When I see her tomorrow, I swear I will have to kill her. Anyway, before I make myself more ill, I'd best get some sleep. I'm not feeling so great =_=
On the bright side, I managed to make this really hard return balance today *__* I did it all on my own, though with a little guidance, and my reviewer didn't kill me. I was so stoked when it finally worked. It was literally almost a brand new return. This sole proprietorship rental used to be on someone else's personal Schedule E, but then some other guy came in and bought part of the company so it became a partnership for tax purposes. For state, it was not an initial return, but in terms of federal purposes, it is so that was one of the things I wasn't sure about. The biggest thing that really killed me was the input part. I made a lot of stupid mistakes doing this return at first, but thank god I caught most of them.
For instance... when inputting accumulated depreciation, I only put in A/D up to 2008 and didn't put A/D up to 2009 so that was not good lol. I went back in and fixed it after doing a couple workpapers. The company for some reason does all their books in accrual basis when it has been filing as cash, so every year we have to undo the accruals from prior year and then record the accruals this year. I did a workpaper for this as one of the very first things I did, but I missed prepaid expenses so I added that in this time. I was so happy with myself when I caught my own stupid mistakes. Then, I did an AJE, which really should have been done first lol 'cause I was trying to input the book retained earnings into one partner's capital, but it was wrong 'cause I hadn't adjusted it yet lol ^_^;;; I'm really glad that my boss gave me this project though 'cause I got to basically learn how to do a lot of it on my own, and then I'm glad I asked the tax manager how to use all these different functions in the tax program so that I could show what I needed to show. I took it slowly, but I didn't give up and then I made the return balance and net income on the return matched what was on the books. I did my M-1 adjustments, showed the pro-rata of partnership interest allocation, made the accrual to cash workpapers, AJE's, depreciation workpapers, etc. I tried to make it as simple as possible and when I turned it in, I was so proud of myself. I have never been able to make a hard return balance without crying to someone about it lol. I almost just ran to my reviewer and begged her to help me balance it, but no, I stuck to it and got it done before my boss came in this afternoon. I felt good ^__^
I had this project for a week on my shelf now, but had only been able to work on it for three days. I did part of the summary memo first since my boss' instructions were still fresh in my head, and then worked with what I knew. I screwed up on just about everything though lol when I first inputted them, but slowly, all these epiphanies hit and I just made it work *___* I was so proud of myself. Now if I can do the same with some of these other returns I have, the better.
I'd better check on the depreciation for this one other client I was working on. I also need to keep an update on the trusts that I worked on. I have so much stuff to do @_@. Oh which reminds me... I need to look up a security tomorrow. That or ask my boss to send the question to the client 'cause I can't input this security to Schedule D until I have a cost basis and acquisition date for it. I need to input the amount on the Form 2439 as well =_= *sigh*
Right now, I'm making a perm file for another client, which was put together quite haphazardly by the former office manager and so I have to reorganize some things so that it makes sense =_= Anyway, sleep. Must sleep. I'm putting lemon in my water, drinking that and sleeping. Yes, sleep is good.
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