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Showing content with the highest reputation on 05/01/2017 in all areas
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It's very simple. Focus on the law itself, and do your best not to make it about the people who are making the law. This has nothing to do with sensitivity, and everything to do with staying on topic. If you are unable to tell the difference between bean-counter law discussion, and snowflake libtards vs the evil cheese doodle president, for example, then I don't know what to tell you.5 points
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3 points
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Thanks Eric (and everyone else). Lots of very helpful information on this thread. I think I'm going to print it out. That "eye of Sauron" gadget sound pretty intense.3 points
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Of course, if you have money to burn, there's this ugly thing. https://www.amazon.com/RT-AC5300-Wireless-Tri-Band-AiProtection-Complete/dp/B0167HG1V6 $300 for a wireless router might sound like a lot, but it's quite a deal if you take into account that when you turn it on, the eye of Sauron will appear in flames between the antennas.2 points
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Going "overpowered" is always better than "just enough" because once you get it hooked up, you'll realize you have smartphones and tablets that don't use data if they're on wifi; gee I can watch YouTube on my TV if I hook that up.... etc.2 points
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Good for you Rita, going above and beyond for your clients to be sure they are OK is both honorable and to them, a comfort. They deserve it as they know they have to get their taxes paid, worry about it, but sadly, may forget why or when. That's where having the patience to satisfactorily get the job done gives us and them peace of mind. Means more than money hearing "thank you, I don't know what I would do without you." I know you gave these guys a hug, but for a different reason. Frank's brother is going to be talking about you at his next shuffleboard match.1 point
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This little gentleman's brother from Florida (whose return I also do) brought him in today to pick up 2017 1040-ES forms. Brother said, "I received my forms that you mailed me, thank you, but Frank didn't get his," and he winked at me. I printed Mr. Frank some more forms and I'm hoping we talked enough about what I need to prepare the 2015 return that brother will get the ball rolling. It's sad, and I really feel for the ones with no family to help.1 point
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Should be OK, it's not political, I think. Just good, old fashioned advice. Thanks Elrod.1 point
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Under the current tax system, the total combined taxes paid to the federal and state government is actually less for the SP, since they do not have pay FUTA and SUTA, not to mention Workers Comp Insurance. It's just sometimes perception and reality are not always the same, especially when comparing Quarterly Estimate Payments with paycheck WH plus the unseen employer payments made on the employee's behalf for FICA, FUTA, SUTA and Workers Comp.1 point
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Except for the 7.65% deducted on Page 1.... Ohio now exempts business income from Sch. B, C, D, E (including guaranteed payments and/or compensation from each pass-through entity in which the taxpayer has a 20% direct or indirect ownership), F, and other items of income and gain separately stated on federal Schedule K-1 and miscellaneous federal income tax adjustments, if any. I wonder if this is a prototype for the proposed tax reform. I also note that, along with the elimination of the estate tax in Ohio, these changes have contributed to the decline in tax revenues leading now to a potential budget deficit of $25 million and the not insignificant increases in local taxation to cover the shortfall of funds previously distributed by the state. It's my understanding that the new federal proposal has not yet addressed a similar potential outcome. I think the idea is to assist in creating jobs and expanding the economy but not sure if this can happen simultaneously. There may be a lag time. It does make tax planning for my small businesses, including my own, challenging. Think I will enjoy the summer and 'think about that tomorrow!'1 point
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1 point
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I read the article. It was like watching someone trying to chew the cap off a child proof bottle. I don't think the media is going to be able to write correctly informative articles without having at least a basic understanding of how the current tax code works. And, they don't. So, we should be prepared for a lot of amusement and amazement.1 point
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I use the ATX Tax planner as much as Ron does. My request would be that the State estimated taxes be expanded so you could run better analysis there as well. With the Decoupling from the fed depreciation rules, it makes it real hard to get the state accurate in future years. Rich1 point
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I've seen SO many families ripped apart over the years, by bad planning, not wanting to admit lack of current ability, and greed. They far outnumber the ones where planning is done correctly, everyone knows what to expect, and those helping are content to help but not to help themselves (you know what I mean). And it doesn't take a big estate to produce the ravening wolves, either. Guess it's a lesson to all of *us* not to believe we are immortal, to address our own planning needs (*and* publicize them so there are no surprises and no possibility of someone trying to steal and hide, much as we hate to admit the possibility) - and also to warn our clients to address this decades before it becomes an issue. Sigh.1 point
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Yes, I have met a few whom I believed deserved the trust placed in them. But they are overshadowed by the vast majority who place their own interests above that of their clients. Commissions & fees are the major force driving their decisions and investment "advice". Far from being irrelevant, they are very relevant in a negative sort of way - they are a danger to their client's financial well-being. Miserable track records and highly dubious investments abound. But they can always be counted upon to have all the proper signatures on the CYA forms.1 point
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New on IRS.gov Form 14039, Identity Theft Affidavit Inst. 8974, Instructions for Form 8974, Qualified Small Business Payroll Tax Credit for Increasing Research Activities Form 8655, Reporting Agent Authorization Form 941, Employer's Quarterly Federal Tax Return Form 941 (Schedule R), Allocation Schedule for Aggregate Form 941 Filers Inst. 941-SS, Instructions for Form 941-SS, Employer's Quarterly Federal Tax Return – American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands Form 941-SS, Employer's Quarterly Federal Tax Return – American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands Pub. 5146, Employment Tax Returns: Examinations and Appeal Rights Form 14039 (SP), Identity Theft Affidavit (Spanish version) Pub. 1281, Backup Withholding for Missing and Incorrect Name/TINs (including instructions for reading tape cartridges and CD/DVD formats) Back to Top 2. New Fax Number for Form 8655 There’s a new fax number for Form 8655, Reporting Agent Authorization. The new fax number is 855-214-7523. As a reminder, don’t send more than 25 forms in a single transmission when faxing Forms 8655. And if possible, send faxes directly from your computer instead of from a traditional fax machine1 point
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Oh. I thought we were bashing the specialty niche of those who pay bills for elderly clients. Hugely helpful to their clients but the liability gives me the willies. For financial advisors - I know some really good ones. Completely outnumbered by the ones who need Rita's back yard post-hugging.1 point