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Crank

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  • Content count

    877
  • Joined

  • Last visited

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About Crank

  • Rank
    ATXaholics Anonymous
  • Birthday 03/07/1961

Profile Information

  • State
    PA
  • Gender
    Male
  • Interests
    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.

Recent Profile Visitors

4,915 profile views
  1. 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?
  2. New (potential) Tax Law and Exemptions

    Ahh I missed that. Thanks for the reply! Jack, as usual, you are extremely helpful
  3. 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.
  4. 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!
  5. DO YOU USE ALL CAPS ON RETUNS?

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

    Isn't that the truth! This TP had the CTC.
  7. 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.
  8. 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.
  9. 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.
  10. New Client Payment Hassle

    Had a new client referred to me by a long time client. Single mother/grandmother with AGI ~38K. Completed the return and was scheduling a pick-up when she balked at the fee ($150) saying "dont you take it out of the refund?" and the client that referred her told her that I do take it out of the refund. Said she would have to talk to the referrer and ask why she told her that. Im wonder what she would have done if she owed instead. It's a first for me and Im assuming that she will want her documents back to go somewhere else. Not sure how to handle this. I have to give her the documents back but I should receive some compensation for the time I put into preparing the return. Anyone else have to deal with something like this? Suggestions appreciated. Thanks
  11. ATX Client Letter & Eflie

    Deb, Thank you!!!!
  12. ATX Client Letter & Eflie

    Yes I have the 8879s included. I never customized the letter. It was always fine as is. Ill have to look at it Thanks
  13. ATX Client Letter & Eflie

    No i didnt. I print out the return before efiling. I noticed before the 15.9 update the Federal stated it would be efiled but the state said to mail. Now after the update both say to mail. I hope I dont have to create an efile to print the correct letter. Thank you. Yes that is what is needed. Sheesh, kinda stupid if you ask me.
  14. ATX Client Letter & Eflie

    Even though I have efile information populated (1040 EF info & PA 40 info forms) the client letter still states that the client is to mail the federal & state returns. Am I missing something? Anyone else have this issue?
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