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Showing content with the highest reputation since 12/23/2020 in all areas

  1. 12 points
  2. Well, I decided to come out of retirement and will be doing some contract work for another firm on a very part-time basis. Retirement is great. You can pick and choose what you want to do. Anyway, I look forward to interacting with you all again.
    11 points
  3. One reason that everyone is so down right now is that we just got through the tax season that never ended. We couldn't do much in April because we were too busy taking calls about the stimulus payment and business loans. July was just like the usual April. Immediately after it was time for extensions, and October was just like April. Then it was time for CE. In between there were many more calls from clients who needed help with loans, retirement distributions, new W4s that are incomprehensible, and on and on. We never got a break, and for those who took a few days off there was no trave
    10 points
  4. I sure hope they give us a new file-by deadline as well. This year, I will be notifying all my out of town clients that they need to find a local preparer. I'll also tell my larger (Sch C) businesses to look for someone else. I am walking toward the sign that says "reTIRED." It will be a slow walk, and I'll keep my small, easy local clients. But I'm so tired. This business isn't fun anymore. They can blame the pandemic all day long, but it ain't the pandemic. The IRS has been beating us up for a long time. Congress doesn't move in time for anything. Nobody does their job anymo
    10 points
  5. I missed most of the week leading up to the holiday and our first tiny live tree in years, but did finally have a nice Christmas after all. The previous Friday evening I started with a high fever of 103.5+ that Tylenol wasn't touching. I was isolated and alone in a spare bedroom and bathroom the whole week and worried the whole time of what I had and what illness I'd exposed my mom and husband to. The exception to my quarantine was for a Covid test on Tuesday afternoon where my husband and I drove in separate cars. Christmas Eve I got the best prezzie, a negative test result! My husb
    10 points
  6. Peace on Earth and Goodwill to All Ye on this Board!
    10 points
  7. Since I am 74 now with several health issues I deal with every day, I find all the whining and complaining from all of you 60 year old youngsters highly amusing
    9 points
  8. Here's to a happy, healthy, and prosperous 2021!
    9 points
  9. Awww, thanks, BB, and hey, my friends, I'm here! 75 miles from Nashville, and hoping 2021 walks in with a smile, sits down, and doesn't touch anything.
    9 points
  10. Since today is December 24th, I will wish everyone a very Merry Christmas! Next week, I'll send wishes for 2021. We'll keep the two separate.
    9 points
  11. Soooooooooooooo filing season starts February 12th! I am assuming I can still go ahead and efile these early birds who fly in and ATX will forward them to the Service on February 12th. I'll have to explain to the clients that any refund due will be late in coming right ? Like most of you I too am expecting fewer clients this season. I usually advertise in February but have decided not to do so this year. At 78 I haven't been dependent on the business for income in ages but I enjoy it and interacting with those I serve. My family have been involved in some form of small business for four genera
    8 points
  12. One day when I was feeling blue, someone said to me, "Cheer up, things could be worse!" So I cheered up, and sure enough, things did get worse!
    8 points
  13. Tom: do NOT charge too little or accept the wrong clients. You are NOT a newbie that needs any tire-kicker that happens to call. You are an intelligent and experienced preparer and have this water cooler surrounded by colleagues. Take ONLY the clients you want and CHARGE THEM WHAT YOU'RE WORTH. PS That goes for ALL of you, whether it's your first year or your last.
    8 points
  14. Hope everyone enjoyed their Christmas. I thought it was a great Christmas because we didn't have to spend hours in the car. We had a great zoom session with the kids and grandkids. Plus we had dusting of snow later in the day as we were watching the movie White Christmas! It was a very good a Christmas.
    8 points
  15. Well, I'm feeling fine, really. I'm coming up on 65 this year and honestly, my temper is shorter and shorter with everything surrounding me. The IRS and tax law changes tick me off. Late changes, more responsibilities put upon us with zero benefit to us. No extra pay for us, no tax benefits. These are signs that a change is in the air. When my bright, bubbly, happy spirit is feeling wounded and tired, it's time. I'm going to talk to HRB about buying my business after this tax season. I would like to work for someone else and be done with running the show.
    7 points
  16. Excerpted from the Journal of Accountancy: https://www.journalofaccountancy.com/news/2020/dec/tax-provisions-in-covid-19-relief-bill-ppp-and-business-meal-deductibility.html?utm_source=mnl:alerts&utm_medium=email&utm_campaign=22Dec2020&utm_content=button Many tax provisions appear in year-end coronavirus relief bill By Alistair M. Nevius, J.D. December 27, 2020 CARES Act extensions and pandemic provisions Educator expenses for protective equipment: The bill requires Treasury to issue regulations or other guidance providing that the cost of persona
    7 points
  17. As we begin the new year, remember that without the rain, there would be no rainbow. God works all things for the good, for those who follow Him, and I trust that God has gone before me and prepared the way... no matter what. This year might well be the most challenging for us tax pros. I'm thankful that we have each other. So, be kind, drink wine, and keep smiling! Cheers!
    7 points
  18. HAPPY NEW YEAR to all my dear friends here on the forum. May this new year coming in be nicer to us ALL than the one we're leaving behind!
    7 points
  19. Party.....................Party....................Party...... I only hope that this doesn't happen to me again this new years eve................I was So embarrassed.
    7 points
  20. Yeah, turns out I'm 112 miles from Nashville, who knew? My cell phone was fine, but we had a substitute 911 phone number. And, when 911 was back, they had to announce on Facebook: "Please don't call 911 to see if it's working - it is."
    7 points
  21. How can anyone be prepared when the rules keep changing?! I have completed my CEs for the year, including lots of updates so I'd be ready, and now it looks like I need update courses on my updates. (Last course I took spend 1/2 hour on not deducting expenses covered by forgiven PPP loans, what to do if forgiveness application denied or not completed after all. All out the window now--I need a course in unlearning things I just learned.) And now we're learning that the rules we haven't learned yet for 2020 will change again in 2021. We are all geniuses and will figure it out. Although we
    7 points
  22. Well on a more upbeat note, I feel prepared and ready to go
    7 points
  23. Tom, hopefully, this is one of those times that will open the doors to other opportunities.
    7 points
  24. It poured down rain, running through our garage but not flooding our basement. Washed away all the snow, though, and then turned bitter cold and icy. We had a nice Zoom church service Christmas Eve, and a few relatives from far and wide tuned in for a bit of it so got to see some faces, wave hello. FaceTimed with grandson/our "kids" yesterday. Still haven't heard from DIL when we can Messenger Live our granddaughters. They run an inn/restaurant in PA so were shut down by the governor and could only offer take-out for Christmas and New Year's. They aren't busy but are bored and depressed and br
    7 points
  25. For anyone who doesn't have the information, I'm going to send them this link and tell them to get back to me after they look it up. https://sa.www4.irs.gov/irfof-wmsp/notice I sent out my letter last week. It had two main points. 1) No in-person meetings; 2) Plan for extensions.
    6 points
  26. I'm only 60 but I feel you! I've already refused to take anyone that's had PPP, EIP (except one existing client and she only got the 10k 'free' loan). My international client is ex-patriating soon. Anyone that quits me, hey it's fine. I figure the computer I just bought will be my last.
    6 points
  27. If assets are titled to the trust, the trust will get the tax docs in its EIN. Then a 1041 must be filed, but you can elect to report nothing but a statement that everything will be reported on the grantor's return and another statement listing the income and expenses the grantor must report. There is a code section for this that I don't have in front of me but it should be in the software elections. When the beneficiary receives a distribution, then K-1s will be issued. If the assets are still titled in the grantor's SS number, no trust return is required.
    6 points
  28. I just don't want to do this again...... I haven't updated my software yet. I haven't sorted thru 1099 people yet. I haven't even purchased some jugs of water for the fountain. I don't have any motivation. I don't have a secretary - maybe that would help. This season is just going to stink!
    6 points
  29. Might I recommend what we plan on doing this year? Put ALL of these clients on extension. At some point the rules WILL get straightened out and finalized. I, for one, don't want to do endless amended returns after the rules change for the fifth time. We are TELLING (not asking) our affected clients that they WILL go on extension this year, and also telling them that this way they won't be paying us to prepare an amended return when the rules change.
    6 points
  30. or sneeze or cough on anything!!!
    6 points
  31. I hear from Rita all the time. We're co-dependents and proud of it! LOL The bombing was a horrible thing, alright. Praying for Nashville.
    6 points
  32. Don't be shy about asking your good clients to refer you to other good clients just like them, family, colleagues, etc. And, make sure everyone you know knows what you do, your broker, lawyer, banker, church friends, neighbors, kids' friends parents, the small businesses where you shop, everyone. Just say that you're expanding your company and have room for a few more good clients. Your business will grow rapidly, and you will forget your old company!
    6 points
  33. I'm not ready at all either. Software is available but have not bothered to download it. I did get the MFA set up though, testing it on the prior years' programs. That was very easy and no problem. Comcast was here for close to 4 hours today, initially to fix a connection issue with a spare TV in the basement, and he found multiple issues with all of our services and damage to the line on the poles on each side of the road. We have new connections and will soon have a new heavier underground cable that will give better signal because of the distance from the road, and we also now have a n
    6 points
  34. I am sorry to hear that you lost your day job - although I think the owner may be sorry too. It sounded like you were working way above your pay grade sometimes.
    6 points
  35. Most of our handbell choir also sings in the chancel choir. In the olden days (pre Covid) handbells and chancel choir shared the choir loft so we could ring and sing. I haven't touched a handbell since March.
    6 points
  36. I'm the old lady in the middle. We're a tiny church in a tiny town, so don't have enough volunteers to ring handbells very often. I accuse my husband, the music director, of marrying me to make sure he has at least one handbell ringer for Christmas Eve! If this were a normal year with live choirs instead of pre-recorded music, the younger gal on the right would be singing in the choir and not available for handbells. I've done four-in-hand very, very seldom; three-in-hand a bit; and even that was more often needed to add a bell to a hand for a particular passage and then return to just one in
    6 points
  37. I hope everyone had a very MERRY CHRISTMAS! I enjoyed my time "with" family and the time away from the office, and hope that you all did too.
    6 points
  38. You have three ringers who can four-in-hand?!?!? I'm the only ringer in our bell choir who will even attempt it. (I like it. It's fun!)
    6 points
  39. You struck a chord in me Crank. A common refrain, when is enough enough. I've seen most of my 68th year and like you have led a healthy lifestyle my whole life. But some mornings upon awakening I feel something off and say, oh great, now what is this? I have a feeling for us it's mostly wearing out parts maybe due to a healthy active lifestyle. At least the tax work does exercise the grey matter so that doesn't wear out, something that is keeping me in the game. On an Everybody Loves Raymond episode when Ray was in the sauna at his father's club with a group of older guys, in an attempt
    5 points
  40. My preferred response was always "Answer hazy; ask again later!"
    5 points
  41. Tom, I'm sorry (I guess). You may look back at some point and conclude this was the best thing that ever happened to you. Just reading your recent posts it may appear that you were not afraid to speak up about your increased frustrations as your company piled more and more on you. Your employer must have been terribly remote to be so out-of-touch with what was going on. I have to take a page from Sara's post and conclude that the govt believes they can pull the rug out and change the rules up-to-the-last-minute. Just in the last couple weeks the EIDL grant had to be deducted from PPP
    5 points
  42. I think the client has to call to change. Just tell her how much additional to pay and have her do it via IRS's DirectPay. Or if she's within one of the safe harbors, just tell her how much to save to pay with her returns.
    5 points
  43. I will join the chorus of those who miss the musical family at my church. We did have a very small bell choir for Christmas that taped a few songs, and we occasionally have the praise band play outdoors if we do services int he parking lot. But no chancel choir since last March. I think that is just another reason that I dread tax season - band and choir practice were my stress relief during tax season.
    5 points
  44. In the past, a taxpayer could take their last paystub to H&R Block to qualify for a RAL or RAC. However, their return would not be e-filed until they returned with their W-2. (Full disclosure: I worked in a Premium office and don't think I ever did a RAL or RAC.) PS: After leaving Block, I make sure that I charge MORE than Block. I still do NOT do RALs or RACs or any other bank products.
    5 points
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