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Showing content with the highest reputation on 10/17/2013 in Posts
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3 points
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The IRS has turned the PTIN into nothing more than a legal way to siphon money out of the pockets of honest tax preparers. Initially, it was simply a way for us to protect our SS#. Another fine example of the best our government agencies can do!!3 points
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I personally hope that my parents spend their estate doing what they want to do and having a good time before they are unable to do that. I owe them, not the other way around. And as far as I know, my brother and sister feel the same way. But my husband's grandmother lived with us for about 4 years before she passed away, and she did pay us "room and board." But she set the rate, not me, it was not excessive, and was not a condition for her living with us. I think it helped her to feel a little more independent. She had previously lived with her daughter (my husband's aunt) and paid her the same thing plus helped to pay for any repairs around the house or appliances that need to be purchased. Every family works these things out in their own way, but it does bother me when they seem to see the money as the important part of the equation.3 points
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OK. Got it. Given the overall behavior of Ms TK's friend, I understand that. I was just speculating about the issue of "paying" a child for providing care and how that might affect the ultimate estate available to all the heirs. I would never suggest that caring for an aging parent should in any way DEPEND upon being paid. Especially so in the case of a parent who cannot afford to pay for their own care. However, if I'm the parent and have sufficient resources, I'm going to take a slightly different view. I would most likely devise a plan to compensate the child providing the care, knowing that this would have the effect of decreasing the remaining estate available to divide among all the children. I would also maintain transparency by telling all my potential heirs what I'm doing and why. The simple fact is that we want our children to have good, productive careers in order to provide for their own children and also to make provision for their own eventual retirement. Time spent caring for me would have the indirect effect of decreasing their potential earnings and thus having a negative effect on their ability to accomplish that goal. It deserves consideration, and it demands a fair analysis. Unfortunately, many people postpone thinking about these things until they no longer have the mental faculties to make rational decisions. The end result is that the siblings often wind up squabbling about the estate and acting greedy, when in fact no one is entitled to anything in the first place beyond what their parents decide to leave them. Or, in the case of Ms TK's friend, an incontinent parent, apparently incapable of making their own decisions, with two heirs apparently already at odds over the estate before she's even in the grave. Not a pretty sight.3 points
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3 points
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Well, I have to admit that every Thursday night is date night with my wife. No office, no taxes, no neighbors, no kids, no problems, no pressure, what a relief it is, after all she is worth more than any business and the reason for the business is her. Kind of sappy, huh?3 points
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For 2012 tax season, more than 20,000 returns were allowed to be filed by paid preparers using PTIN numbers that were not registered through the program with the IRS. I can see how it is working so far...2 points
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I'd like this thread to stay in the general chat area so that all can see the delay in PTIN renewal. Let's not bring the blame game and politics into it.2 points
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2 points
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At this point he was marketing his services, but recent clients I have talked too, I am referring them to the healthcare.gov website, I want no involvement of my time.2 points
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I have had exactly this same feeling/visualization! Mine has a coffee filter at the bottom though, and the knowledge needs to filter down before I can accept any more. This was especially present while I was getting my Masters degree. Of course now I tell people my brain is too full of tax info to remember much else.2 points
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Yes, the three months seems extreme, but two weeks of being closed after Thanksgiving might be a smart thing to plan for. And a couple of long weekends during the season, that you plan and make absolute no taxes, no phone, no emails, just rest and peace and quiet, might actually make you more productive than if you had worked those extra days. It's worth thinking about.2 points
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John, I think you did miss something. The issue bothering some of us was not her getting paid, it was, for me, that in this case it sounds like it's not really the best care for the mom. That she was doing it to keep that money from her sister, but that she sometime left mom alone for 2 hrs. Mind you, everyone needs a break, but there are funds to pay for help during those times, so mom does not end up laying alone in her own waste while daughter takes a break.2 points
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My caring for my parents had NOTHING AT ALL to do with money. It never entered the decision making process. Neither does/did the participation of my sibling.2 points
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No, Jack. lol There was a comment about political strategy regarding the shutdown that didn't belong here so I removed it. If anyone would like to start a related thread about the ongoing effects of the shutdown as it relates to politics in the politics forum, that is OK. If it's something that directly affects tax preparation and what we will be facing as tax preparers, it stays here. There are some original posts like this one that are more of a PSA so that we are aware of a sitch.1 point
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That is not one of the permissible disclosures under Reg 301.7216-2. The penalty is $250 for each name you provide without client consent.1 point
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Studies have shown that middle aged couples who still have dates with their significant other like they used to when they were young have a better overall satisfaction in the relationship. The communication breakdown is the biggest reason why so many relationships fall apart in later years.1 point
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I had a standing policy of NO tax returns Fri night from 3 pm on. And, since I work from home, it was a treat to take the kids out to Micky D's and a walk through a mall - -just to get away from the business. Sundays were also a day where I would work in the office until noon - - the rest of the day was family time. I have done this for the past 32 years!!!1 point
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My husband and I have date night on Fridays every week. We go bowling in a league, eat out (usually just a hamburger, but neither of us has to do dishes!), and go home and watch a little TV together or shoot a game of pool. NO TAX TALK, no worrying about problem clients, just time together doing something we both enjoy. My favorite day of the week!1 point
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I'm intrigued by the responses concerning caring for mom. Maybe I've missed something in the translation. But I've been through something like this a couple of times with my in-laws and another relative. If I had two children who were in line to inherit, with one of them caring for me and the other not, then I'd think it is fair to pay the one who is caring for me while I'm still alive, in place of a stranger doing it. I'd probably still split the inheritance equally between the two, but it would be common sense that the payments to the one caring for me while I was still living would inevitably reduce the total amount payable equally to each when it died. That's just common sense. Personally, I don't have any problem, with that outcome, unless the caregiver isn't doing their job or if the non-caregiver is willing and able to shoulder some of the burden. In that case, I'd have to split the payments between both of them in proportion to the time they were willing to spend. As I see it, paying a child to care for me would be much preferable to paying a stranger. Somebody is going to be paid and the eventual estate is going to take a hit for the cost of that care.1 point
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1 point
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Two hints that I have looked for as I have interviewed people. 1. Does he appear to want to be here and is wiling to do the work. One of the best measurements I have found is how they sit in a chair. My expereience has been that those who loung back in the chair and give the appearance that they are comfortable and it will take a little to get them out of the chair, usually take a little to get them going. He does not have to sit on the edge of the chair, however, lounging is out. He does not want to be anxious (hard) but give the impression that he is ready to go to work. 2. He is also there to interview them...this should be a two-way street. He needs to have some questions that are issues critical to him also. This will demonstrate to the interviewer that he has put some thought into going to MIT, in this case, and even knows a little about the school and the expectations there. When I was recruited out of college item #2 was one thing that all the headhunters indicated they did not usually run into but was very important. Not that it matters at this point, but, I ended up having multiple offers to choose from.1 point