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I hope you all are safe and healthy. Remember the famous quote. "Don't Worry--Be Happy"

It's a done deal! After some back and forth we settled on 35% for three years. Thanks to everyone and have a Happy Thanksgiving.

Happy Thanksgiving to all!

Happy Thanksgiving!

Happy Thanksgiving to all on this forum!

Happy Thanksgiving to you and your family too , @Elrod - as well as the rest of my ATX Community family here!

Yes, Happy Thanksgiving to you, too. And to everyone, I am very thankful to be a part of this group. You all are so supportive and actually KIND. It's refreshing, and we are so blessed to know each other. Thank you!! muah!

Happy Thanksgiving, everyone!

Happy Thanksgiving to everyone. I am very thankful for all the great people on this forum.

Happy and safe Thanksgiving! We'll be video conferencing with our family. And this year, I get to do all the cooking!

Happy Thanksgiving to everyone here and to your families! Gobble, gobble!

Congratulations on finalizing the deal!

I really hope this works out for you.

The Senate Finance Cmte is making a bipartisan push to have the both the loan forgiveness and the PPP allowable expenditures be non taxable. They are trying to have this included in the Omnibus Spending Bill which needs to be passed no later than December 11th, in order to avoid another government shutdown. I really hope this happens. It would be a big relief to have this resolved before the end of the year!

Wouldn't this trigger a dispute on the client's part? If so, I think the bank would investigate the charges to see if they are indeed legitimate. I would recommend the client go to the top in the bank and then maybe contact an attorney to possibly pursue this further. The statement it is too late from the bank is disturbing. I agree with Gail, I would want to know what the definition of too late is exactly. Did they see the statement on line and immediately call or did they receive it in the mail and then immediately call. Either way, too late doesn't cut it.

Whether or not you agree, the maker of W7 says it is unsafe. You are likely beholden to keep data as safe as reasonably possible, and possibly to an even higher standard. Defense is expensive, and using a known unsafe OS is impossible to defend, even if it is just one machine connected to your network. You would not likely find an arbiter, judge, or jury which could be convinced W7 is safe. Much cheaper to stay current. I doubt you will find any tax software vendor which will give you explicit instructions to use a known unsafe setup. If you do, document their instructions, and pass it by your E&O insurer for approval.

I'm just curious - if you notify the bank as soon as you get the statement, but that isn't soon enough, just how soon do you have to notify them of fraud? And while i would want to deduct this loss, doesn't it have to be done as a casualty and theft loss?

I sold off about 3/4 of my practice to some friends, for 33% of receipts per year for three years. We presented it as a merger, and in fact still work together on some clients. We share the web site and file portal and I still field general questions (cuz people still email me first) but copy them. For more complex problems I forward to them with a note to the client that I asked X to respond 'cuz I'm out of the office today. In general it has worked really well for all of us (me, them, and clients). But 40% for four years is too much.

If that were the case you would have income for the amount of withholding. Let's say the gross was 2,000 and 200 was withheld for federal (disregard any medicare w/h) leaving 1,800 to deposit in the bank. If 1,800 was returned and 200 left as credit for decedent, then reporting would be income 200 and federal withholding 200.