Jump to content
ATX Community


  • Content Count

  • Joined

  • Last visited

  • Days Won


About jasdlm

  • Rank
    ATX Master

Contact Methods

  • Website URL
  • ICQ

Profile Information

  • State
  • Gender

Recent Profile Visitors

4,994 profile views
  1. I bought a book recently; the research I did told me that 100% of 1 year's revenue was the max I would be willing to pay. I ended up paying a lesser percentage, but I had referred many of the clients to the preparer in the first place. I do have a retention clause so that the amount decreases if retention isn't maintained. I'm paying over 5 years because of this retention clause (so X% of gross revenue for 1 year based on clients who actually sign up with me and then are retained). I have to make a good faith effort to keep clients, etc., and I will still owe if I lose a client as a re
  2. Decedent died in December 2018. SS was deposited in Jan 2019 and then reversed, but withholding was sent to the Feds. If I get an EIN and file a 1041 for the refund (which is what the Feds are saying 'may' need to be done in their usual form letter), how do I indicate on the 1041 that the withholding is in the SSN of the deceased? I can't file a 1040 for 2019 because Decedent's DOD is 2018. I know that I can attach a copy of the 1099-SA showing the withholding, and I can add a statement to the return, but I don't have too much faith in the service right now in terms of getting the mo
  3. Client and spouse are medical providers through an s-corp (the only 2 members). They are part of a collective, and about 1/2 of their patient fees come through the collective (a partnership) as guaranteed payments. Former preparer (this is my first year with this client) took QBI on the entire S Corp distribution amount, but I think I have to take only a proportional QBI deduction based on non-guaranteed payment income/total income. Am I correct? Also, for those of you better at tax history and philosophy than me, why is it okay to run GP through an S-corp and 'lose' the self-emplo
  4. I'm not feeling particularly whiny about it, but the only downside is that I don't feel that 'post tax season' relief/freedom that I usually feel. Because I have work in the office, I still feel like I need to spend weekends/evenings preparing returns. On another note, did anyone else get behind on returns that would usually be out of your office by 15 April as a result of providing countless hours of support/assistance to people applying for PPP/EIDL loans, self-employed unemployment, or just trying to run various cashflow scenarios, or am I the only slacker? I hope everyone is doi
  5. I have trouble with this, also. For some reason, clients think we are going to get this information via osmosis. The only clue I've figured out is if withholding is wonky (strange percentage because only part of the distribution was QCD) or nonexistence, prompting me to ask the client. Grrrr.
  6. I'm using Docusign, which according to my research meets the IRS standards noted above. It's working well except in the case where MFJ clients share 1 email address . . . can't verify identity on each separately then. Downside is $40/mo cost.
  7. Is there a way to enter a capital loss CF from 2018 (if one was not the preparer on the 2018 return) without overriding? There is on a 1040, but I'm not smart enough to find the input worksheet for 2018 to 2019 on the 1041.
  8. Possi - prayers for your family. Judy, I empathize with what you're going through. It's hard to know what's best to do during this crazy time. I would like to join the respite board for the 'I'm bored and a bit anxious -- maybe I'll bother my accountant' call recipients. Grrrr.
  9. A11, 17, and 18 I would put it on B 3 and 20 as you suggest. Should net to zero on the K40.
  10. Ignore me. I think the CLE 'bits' I've gotten are just incorrect. I think it is at Topic 452 describes.
  11. Hello, tax friends! I already have an alimony (maintenance) issue from a pre-12/31/18 divorce decree that was modified in 2019. The TCJA in Section 11015 says: (c) EFFECTIVE DATE.—The amendments made by this section shall apply to— (1) any divorce or separation instrument (as defined in section 71(b)(2) of the Internal Revenue Code of 1986 as in effect before the date of the enactment of this Act) executed after December 31, 2018, and (2) any divorce or separation instrument (as so defined) executed on or before such date and modified after such date if the modification expres
  12. I thought the season went really well until yesterday. Yesterday was nuts! I went home Sunday evening feeling totally prepared for Monday, but Monday came, and it was brutal. The software (ATX) was slow this year and crashed multiple times a day, but once I started shutting it down after every few returns and restarting (a suggestion from Abby, I think), that problem mostly went away. As always, I was super grateful for this Board. Working solo, it's nice to have a 'firm'! I have amazing staff, but no other preparer. I hope each of you gets a little down time this week!
  13. jasdlm


    Wow! I do just over 400 returns, and I work basically every hour that I don't have to sleep from 15 February to 15 April (I do take my son to chess tournaments, etc., but I take my laptop and keep on working -- and I haven't had any tournaments since 9 March). How do you do it? What types of returns? I'm standing in awe. I do have legal/financial work that I have to do (although nothing where there's not 'blood', as I tell my clients), but even if I did NO other work except returns, I couldn't come anywhere close to 1000.
  14. I'm sure you forgot about me when you gave this answer! There are a few of us around who are A-OK and working for the greater good.
  • Create New...