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JimTaxes

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Posts posted by JimTaxes

  1. Few takeaways from the season with over 1,000 returns filed.
     
    Everyone has their own way of running their office and some of these comments may not be how others do things, 
    not saying my way is the best way, just it works best for me.
     
    Tax Extenders required me to keep a list of returns on hold, kind of a nuisance but not too bad
     
    Tax Organizers - never used them, really dislike them.  In fact client that use tax organizers from prior accountant or make up their own create double work.. let me work off the tax documents, 1099s, W2s, etc.
    Codes on W-2 - I have seen no impact, no change in return with Codes C or DD.. in times of tax crunch I have not entered Code C or DD amount.. Do those figures for those codes go anywhere or have any impact?
     
    Mileage in Schedule C. If client brings in documented business miles of 10,000 is total miles that important?
     
    Drop off or budgeting time for meeting with clients.. for years I had clients drop off and would work on return and then meet up again to finish that up.. Switched to preparing returns with client here about ten years ago.. would never go back to the drop off method. clients is here to answer questions, which almost always come up.. if something is missing, like real estate taxes we can look it up online.. client has screen facing them where they can see return being prepared.
     
    Drivers license - for tax year 2016 Ohio told me it was optional so I stopped getting that info in mid tax season last year.. Had a lot of missing DL info for tax year 2017.. should be better shape in this area for next filing season.
     
    Injured Spouse. - I found out it is quicker to send in 8379 by itself
     
    Civil Service 1099 - why can't they fill in taxable amont?
     
    W-2 verification code.. I am sure I missed typing some of those in.. how much does it really matter?  
     
    1099-Div with Foreign tax paid but not showing foreign income. Short of calling fund, what can you do besides estimate?
     
    Basis on 1099-B.. years ago was a big problem.. not too many missing basis ones this year
     
    Her kids, his kids, our kids, joint kids, his year, her year.. those can still be a messy pain.
     
    HUD statement.. why now called Closing Disclosure?
     
    ROTH on MFS. why is income limit $ 10,0000
    • Like 4
  2. The Internal Revenue Service late Tuesday extended its tax-filing deadline for one day, after a glitch knocked out the IRS website for much of the day, the Wall Street Journal reported. Acting IRS Commissioner David Kautner apologized for the outage late Tuesday. The problem was apparently a hardware failure, and not a cyberattack, officials said. Earlier in the day, Treasury Secretary Steve Mnuchin said those who were blocked from the IRS site would get tax extensions.

    • Thanks 2
  3. I know about exclusions on debt forgiveness, including insolvency, bankruptcy, etc.. what  about this exception:. has anyone used this exception? seems vague.. cannot find specifics on who qualifies

    Currently, the U.S. tax code provides that discharges of loans can be excluded from income if the discharge was subject to a requirement that the borrower work in a certain field for a certain amount of time. 

     

    • Like 1
  4. everyone has their own business model.. with me, almost no chit chatting. client asks me how I am, I say welcome.. please have a seat.... lets' see what you have this year.. monitor facing them.. they can see return being built.. clients love it.. works for me... typical family return or set of returns.. 45 minute time slot. single person.. 20 - 30 minutes.. scheduled that way all day. almost every day. .if i return is more complex.. 1.5 hours.. can do rental property, self employment income, multiple states, all of those items in 1.5 hours or less. high volume.. clients must like me.. keep coming back and getting referrals. 

    • Like 4
  5. This scammer's email is very lame.. like he did not even put any effort in his scam writing skills

     

    Hi,
    I have attached copy of my previous return that I believe will help you determine what you need and make your work easier.
    Please let me know if you need any other supporting document.


    Regards,
    William Adams

    • Like 2
    • Haha 3
  6. The site is so clumsy and poorly written.. I finally can get in .. tried to get a transcript..

    some worthless error message come up.. CAF check failure

    I did it four times, making sure my CAF was entered correctly.

    even choosing the transcript/info requested is written it looks like to be confusing

    has anyone navigated this site and can talk me through maybe. thank you.

     

     

  7. I think they are getting my email from PTIN sources..

    this one came in this morning.. terrible written as far as scam emails go

    Good morning,
     
    Attaching my last year return of my Tax. can you please suggest if paying up might benefit. 
     
    Could you still help us file our taxes? Please advise. 
     
    Mellisa Schranner,
    websterherald

     

    • Like 1
    • Haha 1
  8. I like this board even though I no longer use ATX.. I never trusted the software.. I know as a tax prep we have to know the laws and how the numbers flow but even basic things like carrying figures over properly with ATX I did not trust.. I have been using ProSeries for many years and like the program.  I don't like some of the commentators at their board who can be rude who treat people asking questions nastily sometimes so I am more apt to post here. 

  9. Every year I go through this and every year I tell myself it is too early.

    Meaning. here it is January 13 and  I am wondering where my returning clients are, calling me, emailing me... 

    Every year I start to get concerned but every year it gets busy and busy fast.. I did about 1040s last year, in addition to my business and payroll accounts.. But every year I wonder what is wrong.. 

    Now for tax year 2018 it may indeed be different

    • Like 2
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