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Showing content with the highest reputation on 01/13/2020 in all areas

  1. Why do you want extended support if ATX 2019 will not install on Windows 7? I don't understand the idea of extended support if I am not going to be able to install new programs and the patching will be downgraded since Microsoft will concentrate on their millions of Windows 10 computers vs the few people that will pay for extended support. Buy a windows 10 machine ADN leave your windows 7 machine on the side and attach a printer directly to it. Make sure you disable or pull out your wireless card and your NIC and use it until you able to sleep well knowing that Windows 7 is gone,. Don't forget to disable your blue tooth and to lock you office. I just can believe that someone who hosts information... including but not limited to: (Legal Names of clients Date of birth Driver's license number and state of issuance with expiration date. Social Security Number Current address Employer's address Bank routing number and account number(s) Information about sons, daughters, spouses and parents which include most of the info above How much people make and their profession Addresses of Properties Type of Car they depreciate Name of Universities they attend or that their family members attend Daycare where they drop their children) is hesitant to purchase a 1K computer with windows 10.
    4 points
  2. I could agree with Jack, except I get to hear of the consequences of data loss. Usually it is via computer failure, human error, or bad/uninformed human choices (such as believing someone will move all data to a new computer without fail). A few times, it has been due to actual criminal action. Change is hard, but hanging on to a two days from now abandoned operating system to avoid change seems like poor business practice (at best). Bypassing a licensing agreement is not something I would want my customers to even have a hint I would do (theft). While MS has gone outside of their stated obligation before, such as providing some sort of update, many years after abandoned, to XP, a business person, trusted with the safety of the data of others, should not expect such. Just my opinion of course.
    3 points
  3. If you search the internet you will find that Microsoft offered paid extended support for Win 7 to business/corporate accounts for up to 3 more years. You will also find some articles which outline detailed instructions of how to bypass Microsoft's validation procedures and obtain free extended support. At some future date Microsoft may figure out how to block users from obtaining these extended support updates for free. When they do some smart person will figure how to get around Microsoft's new validation checks.
    2 points
  4. Well! Whatta ya know. Here is the answer to Edsel's question courtesy of cbslee's posting two lines below Edsel's. "Employers who misclassify workers: with the lack of experienced IRS field audit resources (i.e. revenue agents), this important issue is not on the IRS radar. The IRS only audits 0.14% of employment tax returns, and reserves complex worker status (employee or independent contractor) audits as a part of its small business audits. The growing gig economy and incentives to classify workers as independent contractors is a concern for the IRS – but there is little the IRS can do about it until they train more auditors to specialize in complex employment tax issues."
    2 points
  5. For more information, Google The Tax Book Windows 7 Should No Longer Be Used for Tax Preparation. Microsoft has announced that support for Windows 7 ends on January 14, 2020.
    1 point
  6. Great tip! Thanks for passing that along!
    1 point
  7. I can understand people not wanting to trash a perfectly usable computer and operating system. For most of us, Windows XP worked fine and we did not see a reason to change other than Microsoft operates from a profit motive and can't make money if they don't sell products. And we feel the same way about Windows 7. But the reality is that we have to keep up with the security features required and if the only way to do that is to shell out a few hundred dollars for new computers, then that is what we have to do. Nobody can make us like, but we can be forced into it. I hate all the computers that wind up in landfills but by the time that I am personally certain the information on my hard drives and CPUs s not retrievable by an unscrupulous yet brilliant technician, the computer is not longer a computer - it is a hunk of expensive metals. And as far as I can tell, it will continue that way for the foreseeable future.
    1 point
  8. Ok so, I have a client who has paid a couple of guys to build an office for his business. Each guy received somewhere around $800.00 to $1400.00 each. I talked with the client, told him to get the tax ID numbers and addresses. The guys won't give it up. I told my client no deduction. I think I have to stick to my guns here simply because I have knowledge, advised and it wasn't followed. My client would rather forego the deduction then tick these guys off and not use them again. Small town politics. Everyone knows everyone, all go to the same church; you get the picture.
    1 point
  9. Thank you CBSLEE. Very helpful post and greatly needed. Edsel
    1 point
  10. Be careful here. Employees who choose to become IC lose benefits like health insurance, pensions, paid time off, unemployment and disability comp. They really have to think if the trade off is worth it. This discussion is enlightening. Most of the time I see ICs who really should be employees, and most of the employee "business" expenses I saw were bs. Among my clients who were most affected by the elimination of the 2% category were outside sales people who drove zillions of miles with only partial reimbursement and those who had huge brokerage fees.
    1 point
  11. It's ok. The topic is still timely and relevant because of these filings now coming due.
    1 point
  12. I purchased Drake Accounting with the tax prep bundle when it first became available and have ever since. I stated with very small clients using only maybe one or two employees. For various reasons, at the end of the year, the W-2/W3 filings were always completed on the BSO site using accuwage manual entry. Last year I took on larger clients so manual entry is not what I run to the desk to do. I discovered this morning that Drake is not able to transmit the created W2/W3 file. From support, I guess this is a feature they are working on. So, in the meantime, from within Drake the W-2/W3 file is created that you can browse to when on the BSO site. If anyone needs this, I am understanding the steps may be subject what computer you are using or where the Drake files reside. The steps are posted below. I'm saving this for next year as 2020 is still not operational either. I did put a note at the bottom for NC users. I also found Drake creates the .txt file for the ridiculous e3NC form. What a blessing to not have to waste time on NC DOR with creating a .txt file or manual entry. I hope this helps someone. I think the data path is the same in 2020. Drake Accounting End of Year W2 File Path 1. Report – W2REPORT txt file. a. Open the drive where Drake Accounting 2019 resides. b. Click on the Drake Accounting 2019 folder. c. Click on Clients folder d. Click on the specific client ID. Example: Client 015 is Someone & Sons Lawn Care. All you will see in this step is the client number. e. Open the Efile folder in the next window f. Click on the Federal folder g. The file W2REPORT_015txt is the folder that you want to upload to accuwage with BSO. The _015 again is the client ID To make browsing to the folder from the BSO site easier, you can open the txt file and save it to another location. Just to note: If you are in NC and have to upload the e3NC form. The W-2 file upload is created in Drake. Just use the same path as above through step f. Instep f, click on the NC state folder. I am not sure what other state filing requirements are but this works well for NC. Eliminates all the crap creating a .txt file to upload.
    1 point
  13. I think it's the federal and state Departments of Labor that you need to worry about. Check on their criteria for employee vs. IC. They seem to have the manpower to chase employers who mis-classify employees. I've heard labor audits referred to as "the audits from hell." Most states also have agreements with the feds to "cross report" their findings. Be careful what you advise.
    1 point
  14. You do NOT need addresses on 1099Rs. That's the secret. Only W2s require addresses. It's a huge waste of time to enter the address and EIN on 1099-INT or DIV or MISC or K1s. It's also a huge waste of time to type the whole name on a 1099R. I've seen people type things like: State of Missouri Teachers Retirement System Metropolitan Life Insurance Company, Inc. I just type: Missouri Metlife Never had a problem. Which means IRS is just matching the EIN. And I never enter any punctuation either. Not even apostrophes in names like O'Brien.
    1 point
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