Leaderboard

Actually, the House of Representatives held a "Tax Simplification " news conference several weeks ago, where they waved around the proverbial postcard tax return. However I did notice it was an extra large sized postcard.

I saw the Black Sabbath farewell tour this summer with my son. It was the first band we ever bonded over, many years ago.

Maybe they have a good tax gal, y'all.

I didn't know Nebraskans had an accent either. Where exactly is "deepest darkest" Nebraska? Arkansas? I was in a grocery store in Newfoundland one time, guy in front of me was talking away in supposedly English - I honestly didn't understand a single word. They can have such a think Irish accent that it's darn near impossible to comprehend them in some rural towns.

I'm a Brooklyn Boy living outside of Boston where sometimes the translation of what I say doesn't get thru, like "card" they think I'm talking about a fish, or "coffee" they think I said cough- fee (maybe I need sub titles). They laugh at me and I say "don't make fun of the way I torque." Happy New Year everyone! We'll torque again next year.

I didn't even know that we had an accent here. I do say crick, instead of creek.

This here fella hails from England... "English Speaking"...When he is on television they have to use subtitles. ...Still a funny character though!

We had a guy when I was in college from deepest darkest Nebraska. I could not understand one single word he said. Ever. Only other accent that has totally stumped me was Cornish.

I can only spell whats I was taught.....I was raised by these here folk...Sorry! ....At least I now's my gozintas and other syphering. Roadkill Dijour is yummy and fancy pot passers make supper really fun.....

Very cute - but the actual answer is that after a time of being "On" (attentive, personable, interactive) an introvert needs time alone and quiet to recover - quite possibly including a nap. It can be as exhausting as suddenly doubling or tripling your usual level of physical activity.

How do you know if an introvert likes you? When he talks with you he looks at your shoes instead of his own.

Have fun, Be safe, Enjoy..... ....

Maybe the handlers (do the handlers change, or is the same small group really in control of politics? Maybe I do not really want to know...) of those we elect are wising up too, and trying a new sales pitch... It would be fun if they had to drink what they sell (think VitaMeataVegamin).

Don't feel bad Bill....This fella doesn't have any R's in his repertoire... Garden=Gaden Flower=Flowa Brooklyn=Booklin

hey you know if its illegal how come they ain't been caught yet?

Does that come directly from the redneck dictionary? I have to share this with All Y'all...I have become addicted to the show "Moonshiners". It is amazing to me that a show, set in America, produced by an American company, with Americans speaking english, requires english subtitles. There are times on that show that I would not know what is going on if the subtitles were not there. Rita, are those your clients? Tom Modesto, CA

Elrod, let me correct your 3rd person pronouns. The 2nd/3rd person singular/plural is "Y'all. (can be one or more other people) The 3rd person plural/plural is "All Y'all". (must be a whole bunch of other people)

Merry Christmas holidays are awfully hard on an introvert. I am so tired.

Drake has changed the length of time to 180 days before you need to change the software password.

Way, way back in the day when I took the exam (scanner card and #2 Pencil), the IRS would give you copies of the prior year examinations. I was surprised at how many of the questions did not change from year to year. If they still give out the prior exams, you should get them, and get used to the way the questions are worded. I also used Gleim study material. Tom Modesto, CA

This article says the new 20% deduction applies to Sch E as well. https://www.forbes.com/sites/anthonynitti/2017/12/26/tax-geek-tuesday-making-sense-of-the-new-20-qualified-business-income-deduction/#369de47744fd

I can say the same thing about the E.A. tests. Once I figured out to study to pass the test and not to expect any of the study to be used in my practice, passing the tests became a lot easier.

FYI Roberts, no I am not pitching software. If you read my post I was diplomatically trying not to say anything too extreme about TRX. For the record, I was lured by TRX after Orrtax succumbed, but thankfully I left them before the season even got started. I sensed that something was off kilter, and good thing I got away from them when I did. The point of my post was that I trying to see if anyone had any experience with Community Income Tax (CIT) AND whether CIT was associated with TRX, in which case I would not even waste my time considering them. Frankly I am not a fan of Taxwise (which CIT is offering) . Yes it is simple use software, but nothing can be taken for granted. Information may not automatically populate or calculate, as you might take for granted with other software. I used Taxwise two years after Orrtax for individuals, and ATX PPR for business returns. Yes Roberts, well put regarding Drake. Drake is not forms driven. Personally, I prefer a forms driven brand of tax software. I have a friend who uses Drake and I assume he is well pleased with it. I have heard many wonderful things about the company. Yet Drake feels very foreign to me. To each his/her own. I am comfortable with ATX (but liked them much more when they were owned by the originators, based in Maine I believe?). I like that they have nearly every form you can imagine. I began using ATX when they also went by the name Sabre. I nearly left after the 2012 debacle. Presently such tactics as hampering access to support for current or prior year purchased software by blocking use of the normal support phone line if you have not ordered the next year's software by November; the nuisance and nonsensical requirement to log in to the software if you are idle 20 or more minutes; problems even opening the program, these are matters that I don't like about ATX. These issues and the fact that price keeps going up gave me cause to give consideration to an alternative.

Thanks Margaret!! ADP did return my call, I forwarded the spreadsheet with the errors highlighted for them to review. They said their entire "RUN" system was giving everyone trouble and it was not down for maintenance but having some kind of melt down. Nevertheless, it will be interesting to see how they correct the mistakes. I made all my entries in the client QB file and it shows the same differences as my spreadsheet reconciliation report. What is really interesting is the totals are off by $8.25 but... the SS paid was off $51.25. So, as I said, we'll see what they come up with.

Really, it was only 15 hours a year. I have to take 30 hours a year to maintain my Oregon LTC License.

Eventually! (I know - a mathematician's answer - factually correct and utterly useless!)

I went to the emoji thingy above, then Categories in the drop down box in the upper right then Default. I just knew that it was available somewhere having made many appearances in this forum! I suspect it will be heavily used in the next several months.

>>>>>>Thanks Judy. Looked at Drake some years ago after tax season. It just wasn't for me. I'll probably just end up going back to ATX. Miss the good old days when you could get ATX Max for $750.00.<<<<<<< Why do you say Drake wasn't for you? Did you give Drake an honest try? I can tell you first hand and a s a previous ATX user, TaxSlayer, TRX Crap including Red Gear and finally dropped to the bowels of software with OneDesk. After ATX was bought out by CCH, their product declined and I decided to try other platforms and took the route of trying to save money. Well. none of the worked well and after all of the craziness with OneDesk, I purchased Drake and the only thing I regret is not purchasing it sooner. If it is forms drive entry that you like, you can toggle to forms entry with Drake. Drake support is phenomenal. Their speed is also far above the others and they live up to their 60 second update. I had virtually no problems with anything at all last year using Drake for the first time. The learning curve was minimal and I am still learning all of the functionality. Don't forget, with the software you get the client write up program and now the Drake accounting program. The document cab is absolutely wonderful and my office is now about 85% paperless. They do incorporate a third party with secure file-pro that comes at a very small cost of $9.00 per month. Electronic signatures through the program using a signature pad or you can use signature flow as well. All of this works seamlessly. I suggest getting their demo and giving it a test drive. As Judy said, if you buy it now, you'll pay full price or if you buy the PPR, then they will automatically switch you to the unlimited user once you reach the threshold of the full user cost. For me, I'll have no intentions of ever changing to another tax software again.

I have never had this situation and I did no research, so don't take this as a definitive answer. The money received was income in the year of reimbursement and at that time the TP was a VA resident so VA could claim it as taxable income since they begin with federal AGI. If TP paid MD tax on this same income, they would be allowed the credit for taxes paid to another state on the VA return. I can also argue for the way the return was done and taking it as an adjustment. Or even that since VA and MD have reciprocal status, all of the income should have been reported on the Virginia return since that is now the state of residence even though it was taxable due to a deducted taken in MD. These kind of things are what make tax interesting. Is VA contesting the adjustment? If you take off the adjustment and put on the credit for tax paid to other state, how much tax difference does it make? In other words, is this a fight worth fighting with VA?

In my state of Oregon, state Income Tax Withholding is not tied to Federal Withholding but the state does piggyback on the Federal W-4 i.e., Oregon does not have a State W-4. Therefore when a employee wants to change their WH status, they will have to fill out a a (Federal Only) 2018 W-4 and a (State Only) 2017 W-4. Are we having fun yet ? Isn't Tax Simplification Wonderful ?

Excerpt below from the linked IRS page should help. It indicates that after the buyout, the owner is the partnership that would report it directly on its return. https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies

Funny, one of the planning tips I have read about recently was to have your clients prepay their 2017 tax year preparation fees, since misc itemized deductions will be no more.

This is a no brainer for NY. I also will sign an executive order Next December and allow all my clients to prepay their tax services between December 5th, 2018 until December 20th, 2018 so I have money for a nice Christmas.

This article gives some examples of how to figure the 20% deduction for pass-throughs. https://www.forbes.com/sites/kellyphillipserb/2017/12/22/what-tax-reform-means-for-small-businesses-pass-through-entities/#319a9e266de3

Yes, if the LLC is a SMLLC taxed as a disregarded entity or is a partnership. If the LLC is taxed as an S corp, then technically it is not required. It doesn't hurt to send one even if it isn't required.

He should get a W9 from the LLC to determine if a 1099 is required. Tom Modesto, CA