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About Crank

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    ATXaholics Anonymous
  • Birthday 03/07/1961

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    CPA (passed on 1st attempt), MBA, Graduate degree in banking - major: financial management & control, NASB Stock Broker Series 7 License, Life, Accident & Health Ins License. Private practice since 1995. Technology nut. Disability advocate.

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  1. afraid to get EA

    If its really what you want then by all means go for it. I assume you will regret it if you dont. When I was studying for the CPA I took a review class and the best advice I got was. "Remember, the test was written by individuals and is designed for individuals. Many have passed so dont look at it like its impossible. If you want to do it, and you prepare sufficiently, you can do it!" And I did on my very first attempt. Its a great feeling!
  2. Check my thinking on AOTC please

    Just a thought. Are you sure the numbers are for 2017 only. Ive had 1098-Ts that pull in other years info such as scholarship info for 2017 and the first semester of 2018 which could create a taxable situation. I usually like to get the term printouts from the school to be sure they are only allocating the correct year items to the 1098-T
  3. ATX client letters

    I want in on this class too. Priceless!
  4. https://support.atxinc.com/download/formdevelopmentstatus.aspx 8863 is now scheduled for 2/2/18
  5. What would you charge?

    ~$200-250 which includes the PA local but no planning. I know...Im low Speaking of the PA local, Im annoyed that the W2 detail page doesnt sum local wages and taxes this year
  6. New (potential) Tax Law and Exemptions

    Well, first of all it wasnt an assumption. It was a question based on the information that has been provided (mostly by the media) so far as the proposed tax changes. Last I checked this was a forum for the discussion of income taxes. That should include present tax law as well as proposed tax law. If you have better things to do then why did you bother to grace me with your brilliant reply?
  7. New (potential) Tax Law and Exemptions

    Ahh I missed that. Thanks for the reply! Jack, as usual, you are extremely helpful
  8. Ive been wondering about the proposed new tax law and the elimination of the personal exemption where dependents are over the age of 18 and dont qualify for the new 2000 child tax credit. Example: MFJ with one dependent > age 18 1. Increase in standard deduction results in reduced taxable income of $11300 (24000-12700) 2. Loss of 3 personal exemptions results in increased taxable income of $12300 (4100*3) Net increase in taxable income of $1000. Is this correct? If so it would increase with each additional dependent.
  9. Cancellation of Debt - Taxable?

    I had a client go this route. Had to gather all assets and liabilities to prove insolvency. Darned if he wasnt. Him and his wife made good income too. Claimed she was a chronic spender. Ouch!

    Ive always used CAPS for returns.
  11. New Client Payment Hassle

    Isn't that the truth! This TP had the CTC.
  12. New Client Payment Hassle

    Lots of good comments. Thank you all. Still scratching my head over this one. We'll see how it plays out.
  13. New Client Payment Hassle

    Just watched it. Good video. Im not sure I can extract the money from her but also, I cant hold her supporting documents hostage either. Of course I wont give her the completed return without payment.
  14. Warning: Drivers License Number

    Ive been requesting DLs for years. Entering the info this year even though its not required. I consider it additional due diligence.