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About JimTaxes

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  1. thank you.. this type of straddling years has always been tricky in my mind and the 1098-T can lack clarity
  2. college credit. .there was no 1098-T for 2019.. asked client.. on 2018 box was checked for classes starting in 1st three months of 2019 ... student graduated in may of 2019 and no 2019 1098-T. they said they wrote a check in january of 2019, we took AOC in 2018.. for 2019 does that 2019 tax payment count even though no 1098-T for 2019.. the 2018 has the box checked for 1st three months of 2019
  3. been sending password protected using bullzip.. kind of a hassle. .is there another way., maybe hosting the returns somehow that is easier and safe that people here use?
  4. I think I will leave it a Win 7 machine and just use it for offline things ..
  5. i think about seven years old
  6. This is just a spare computer.. I have modern Win 10 machines but I do have this spare Win 7. either I keep it Win 7 and take it off the internet or I upgrade to Win 10. I read the specs for Win 10 but wanted to get real world opinion. Is it pushing it, asking too much to go to Win 10 with this: Pentium Dual Core 2.6GHz 3 GB Ram 32 bit Really two concerns on attempt to go to Win 10 1. That the switch over gets gunked up for some reason and I get stuck with neither 7 or 10 2. If it does convert to 10 that it is so slow making it difficult to use... it is already slow on 7 doing some things.
  7. Regarding the IRS free program, IRS dropped the wording of how they would not be in the tax prep business.
  8. client of mine has this.. it can be confusing.. my client is getting paid over time on the buyout. i have a 6252 installment sale form populated and that kicks off interest income and installment sale gain.. mine is all gain as there was no basis
  9. one more thing. in the new method i would use the 2018 program for 2019 and change data where needed
  10. I know these can be done online but I just want to do them old school and my question is about that method. I have been purchasing every year a 1099 program where I have my clients built and the payees. When the new year is approaching I have been ordering the new program. The clients and payees can be rolled over.. then I can edit and change as needed and drop in new amounts.. i order for free the IRS forms. The IRS copy I use the red and white form. The payor and the payee copy i print to plain paper with the boxes printed out.. For this year, 2019 i am thinking about saving that money and not buying new program and when i go to print , I would print the IRS one, as well as the payee and payor ones using the free IRS forms.. As long as the layout is the same from last year this should work, right?
  11. I have a list of clients to amend for energy credits, etc.. at this point I hope they extend them but not retroactively as now sure how billing for the amendments sounds
  12. I have been with Peachtree for years. Was still using Peacthree 2010 on my Win 7 machine and worked fine.. Sage told me that if I wait much longer and get a new Sage 50 (new name for Peachtree) I would have to send in data for conversion. Peachtree 2010 worked fine since I do not use it for payroll. With my new Win 10 machine I was told you can get Peachtree 2010 to still work on it but I didn't want to take a chance and wanted to avoid Sage conversion. Sage will only sell licences but you can still outright buy it with no annual fee form a reseller, which I did with Sage 2019.
  13. Been using ProSeries (PS) since 1997.. starting using it just for 1040s and in some years after that was using ATX for 1065s, 1120s, 1120Ss. I never had comfort level with ATX back then. It was explained to me that ATX then was basically built upon a giant Excel sheet.. I don't know if it still that way. At some point I switched all my returns to ProSeries. I like how PS to me mirrors the 1040, with drill down, quick zooms to the backup or underlying form or schedule. I started doing returns manually in the mid 1990s, went to Parsons Personal Tax Edge, Preparers edition and Intuit bough them out. That is how I started using PS. Parsons and PS were very much alike in the flow if input and the layout, forms based. PS has a another way to enter data but I use the forms method. I use the PS Professional version. PS has a basic edition but I think more users use the Professional version. Price has been going up and up but discounts can be garnered with some effort. In a effort to conquer ATX users Intuit gave three year discounted prices when ATX had that big problem a number of years ago. This 2018 tax year PS had some issues, the biggest one was some printing crashes. The program would crash sometimes. Printing to pdf first seemed to solve it for most people but I think it is fixed now and PS says it was a Windows issue. Even after a Windows update, some crashes still took place but a lot less I think. I like PS.. not perfect but it has allowed me to grow my practice nicely and I know the software quite well to navigate quickly. I find PS to be very intuitive (get it?) intuitive..
  14. JimTaxes


    @jasdim Hi.. I am by no means bragging but over the years I have a system that I have modified and tweaked a bit that works for me perfectly. First, the returns that I do run the spectrum, from returns with LLCs, rentals, self employment, S corps, and more. During this time I also have a pretty big business client base, where I do payroll, payroll taxes, books, financials, and year end taxes for those companies.. I am bit behind on monthly account type work bit even that I have honed my system.. Most of these I use TeamViewer to remote into their computer and clean up their Sage50/Peachtree.. I have a few on QuickBooks but not a fan.. grew up with Peachtree and love that program.. I use Medlin for payroll, Sage 50 for accounting and ProSeries for my individual and business tax prep. As far as 1040 work goes.. If they are a repeat client, I know how much time to budget. say typical family, maybe three W-2, a few 1099- INT or DIV, maybe a 1099-B, two children maybe, even maybe on in college.. I schedule that for 30-45 minutes. client comes in.. they have seat.. they have a monitor facing them. I sort through the documents, put them in order, and work right through the return.. I am gracious and kind to my clients but very rarely engage in small talk about weather, their family, other than tax related.. work through the the return, they sign 8879, I efile,.. they pay me. and I thank them and they leave thrilled.. This whole tax season has been that way every day.. when they are walking out, the next client is just getting there or maybe was there a few minutes... Say I know a return will be one W-2, and maybe that is it 10-15 minutes max.. Rental property returns, self employment income, 30-45 minute return.. My clients know that I only work off summary listings for self employment or rental property and they come with a one page summary already done. with the current law this year is even better.. say client gives me mortgage statement, real estate taxes.. some donations.. I glance at them. i know what the state and local taxes are about from the -w-2. and the 10K salt max.. if clearly under the 12/24/13.6/26.6 I just calmly and smoothly move them to the pile of extra things I do not need.. some new clients I may enter that data to show them how it id not matter but most often I do not enter items that do not impact outcome. even on the w-2.. Code C does nothing, Code DD does nothing.. Code D may if retirement income range but I am entering Code D for someone that is clearly outside of credit range.. Well I could say more but have more work to do.. I have other tweaks and not really tricks but just time saving things that I do that allows me to do this many returns, while still doing other work.. oh, and working long hours is part of it also.
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