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Lion EA

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About Lion EA

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    ATX Supreme Guru
  • Birthday 09/08/1947

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  1. help with basis

    If Mom gifted her property to kids, then kids' basis is mom's basis (+ whatever capital improvements they make after they own it). Step up/down in basis happens only if kids inherit property.
  2. afraid to get EA

    Decide how you learn best. The study guides available are great, with lots of practice tests. There are also live courses online, such as Eva Rosenberg/Tax Mama. And, you might have live courses near you. HRB's course was great years ago when I took it, but I don't know if you have to be an employee to enroll. Check with your local chapters of NAEA and NATP to see if they offer courses. The nice things about the current test is that you can take one part at a time, know if you passed immediately, and retake if needed as soon as you want. Basis, basis, basis. If you're finding a weakness as you study, pull the corresponding IRS Pubs; you'll often find questions on the test come straight from the examples in the Pubs. Don't be afraid to guess, but don't second guess yourself. Breathe!
  3. should be payroll but got a 1099

    Explain the options to your client and let her decide. Make sure she understands that if she goes the 8919/SS8 route that the IRS may contact her employer and she may lose her job. She might not want to rock the boat. Installment agreement. ES payments going forward. MIght be an opportunity for you to educate wealthy family and their bookkeeper on how your state labor dept. as well as federal might view their disbursements -- for a consulting fee. Maybe pick up a new corporate cliet.
  4. ATX client letters

    Any temperature ABOVE my age is HOT!!!
  5. Concealed Social Security Numbers

    If a client asks for a copy for their bank, I send it to the CLIENT as masked. If they request one with the numbers showing, I would send that to the client. My software does print the last four digits of SSNs, bank accounts, EINs, etc., so I don't think anyone has requested a new copy with all digits showing.
  6. Concealed Social Security Numbers

    I print numbers on government copies only. Numbers are on my file .pdf copies. Client copies have numbers masked. (I remember years ago at HRB, some preparer's client put their folder on top of their car and drove off. Never did find it.)
  7. How many times per day

    But, Rita B. has all the weirdest clients!
  8. HP Printers

    My newest is not all that new: HP LaserJet P2055dn. Oldest is starting to misbehave, but I no longer use it to print tax returns: HP color LaserJet 2050n. Used as a fax, scanner, copier, and not often as a printer: HP OfficeJet Pro L7780 All-in-One no longer communicates with my computer but works as a stand-alone receiving and copying. A client gave me his old HP OfficeJet 8500 Premier to replace my fax. Hubby still has my old HP 5610 and a PCL4 or something like that HP printer. Love all my HP printers. Prices drop all the time. But, you'll have it for years, so get what you want that fits your budget.
  9. Records Release Form

    I give returns to the clients only. If I thought their leaving might be contentious, I'd have a cover listing the documents and ask for a signature, might do that with a divorcing couple too. And, if the client has "lost" their tax folder too many times, I might charge for duplicates. But, I've not done either of those so far. I give to the client to do with what he wants. But, their tax folder includes everything, so they really have no reason to ask me for duplicates.
  10. AOC and LLC and business-related education. But, no Tuition & Fees Deduction, unless extended for 2017. Or, are you asking about 2018?
  11. Rant - Electronic Documents

    I guess I need to try voice. But, then I'll be one of those people walking around talking to themselves. Not to mention that most of my answers are not for public consumption. If I wouldn't stand in the checkout line answering aloud someone's personal tax question or wouldn't take a brief break at a client's biz site to call a different client with a personal answer, then I don't want to use voice-activated messaging to respond to my clients unless I'm securely in my office. As long as I'm in my office, I'll just email my responses. Except for that H&W who ONLY text !!
  12. Untenable

    Well, 2/8 is just hours away. How's our fine Congress doing on keeping our government running? And, did they find enough time to discuss the Extenders? I just completed the returns for my stepdaughter and her husband. He's getting his MBA at night. Their refund would be $261 more if the Tuition & Fees Deduction is extended vs. the Lifetime Learning Credit. Any predictions?
  13. Rant - Electronic Documents

    I have a new client just like that, a young guy. I'm so tired of typing explanations on my phone. I have repeatedly asked him for an email address, so I can type on my keyboard. He only texts. He's married to the one earlier that sent her documents via Facebook Messenger pictures. I love email and hate telephone and office visits, but texting is becoming too time consuming.
  14. Rant - Electronic Documents

    So, as we're talking about electronic documents and I'm struggling with tech support at my church's bank (I'm assistant treasurer and was paying bills online when I was caught in a loop) a Facebook Message popped up with a picture of a bank statement with a deposit from the IRS and a picture of a check to CT. Now I need to learn yet one more new skill during tax season to do something with those tiny pictures so I can see them, save the, anything!
  15. Rant - Electronic Documents

    Trying the right click now. Still shows only what was in the body of the text, can't read what's not there. But, I can save it in the client's folder in my computer now.