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Showing content with the highest reputation on 01/16/2024 in all areas
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Yes indeed - just finished presenting, in fact. They'll have it on self-study webinar at some point. We'll see if they ask me back!2 points
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Hey, Catherine, I see you're teaching for John Sheeley's Tax Practice Pro now. You go, girl. https://taxpracticepro.com/featured2 points
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A few years back, a CPA (whose system was hacked) said at an IRS forum he had $100,000 worth of coverage and ended up with over $300,000 in costs. If you do partnerships and corps, there is a multiplier effect from every SSN in your system. So I'd say ballpark $500k in coverage, more or less depending on your practice. And ask if coverage includes them coming in and de-bugging your system.1 point
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See here for the applicable interest rates for January 2024. https://www.irs.gov/pub/irs-drop/rr-24-02.pdf1 point
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Sorry. It was a thought. It is what it is. Ask lots of questions to understand their situation. Then stand your ground. Don't let your clients or their investment advisor push you to report anything incorrectly.1 point
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Proseries offers it. My issue is, will clients use it if needed. Or will they just keep asking us to handle the issues when they arise ? Guess I need to research how Protection Plus handles issues.1 point
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But there is a huge difference in the complexity and knowledge needed to prepare a K-1 (and related 1065..etc) vs a 1099. Also, self prepared 1099's are wide open to mistakes like reporting rents as SE income. I see it every year!1 point
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Can you pull the transcript? I get hand written 1099-nec's all the time from clients. Never had a hand written K-1 but it isn't prohibited. My guess is she produced the tax return themselves?1 point
