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About Crank

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    ATXaholics Anonymous

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    CPA (passed on 1st attempt), MBA, Graduate degree in banking - major: financial management & control, NASB Stock Broker Series 7 License, Life, Accident & Health Ins License. Private practice since 1995. Technology nut. Disability advocate.

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  1. Crank

    QBI Fee

    I have no idea. Im still trying to understand the rules.
  2. Crank

    ATX - IRS Form Instructions

    Thank you very much! I thought I looked at all the tabs but obviously I overlooked it.
  3. I think Im getting old. My memory is failing me...again. Wasn't there a way to access IRS form instructions, in .pdf format, by right clicking on the ATX form? I really thought this was a feature but I cant seem to find it in this year or several past years. Help is appreciated.
  4. Crank

    grumble mumble ATX!

    I use "KeyPass" password manager. Its free.
  5. Crank

    HSA Distribution

    Thanks This seems like a possibility. Im also thinking could this possibly be COBRA? Hopefully others can help with this.
  6. Crank

    HSA Distribution

    No it is not.
  7. Crank

    HSA Distribution

    Thanks The only thing I can think of is that the company may be required to provide health coverage to it employees. Since he is technically still an employee. Is that a thing? Or required to provide it to him since he is classified as an employee. I dont think they are doing it out of the goodness of their hearts for the past 16 years and to continue for the next 7 years until he turns 65. The same with continuing to accrue pension benefits at the salary rate for the same 23 year period. I really dont know and Im at a loss as to where to find a definitive answer.
  8. Crank

    HSA Distribution

    Jack: Pub 969 allows 4 exceptions for health insurance premiums and an HSA #2 is the health continuation coverage which I believe this could be. jlkcpa: They still classify him as an employee and he is treated as such except for the salary. He buys the same benefits offered to paid employees at the same cost from the company. This isnt COBRA. He has been in this situation for the past 16 years and receives the same w2 every year. This is the first year he inquired about using the HSA to pay the premium. Isnt this a type of "continuation of coverage", as noted in exception #2 in pub 969? I cant find any more information on what that is except for the note which says "such as COBRA)
  9. Crank

    HSA Distribution

    Need some opinions. Client is considering an HSA withdrawal for medical insurance premiums. Im a bit perplexed after reading pub 969. Specifically the exception for "Health Care Continuation Coverage (such as COBRA)" Client was employed in a large S&P 500 company in which his premiums were deducted pre-tax. He became disabled and is now considered an "Employee on long term disability". He no longer receives a salary but buys the same benefits that employees get at employee prices by paying out of pocket. He has to go through the open enrollment process every year the same as every other employee. He continues to accrue pension benefits at the rate of salary as of when he became disabled until he reaches retirement age (i.e. age 65). So I believe he IS an employee. He does receive a W2 ONLY for imputed income on company provided life insurance and Box 12, Code DD shows the cost of his health insurance. The only reason is benefits aren't pre-tax is because he doesn't receive a salary to offset the cost of the benefits. Im leaning towards him being allowed to pay for these benefits with the HSA that was provided with the High Deductible Health plan he purchases through the company. Im struggling to justify it with pub 969 and the "Health Care Continuation Coverage (such as COBRA)" premium exception. Could he do this? Am i looking at the correct exception or is there another reason to justify it? It doesnt seem fair that he be penalized just because the doesnt draw a taxable salary to offset the cost of the premiums. What are everyones thoughts? Thanks.
  10. Crank

    desktop purchase advice

    I buy my PCs from cyberpower. It marketed as a gaming PC site but its really just high end. You can configure almost every component with almost all having several options. I too go for faster processors and more ram so I can get more years out of the machine. My current 250GB SSD (C:\) has 188GB out of 232GB free. I only have windows and ATX (2013-2018) on it. Backups of ATX are pointed to the HDD (D:\)
  11. Crank

    desktop purchase advice

    If anyone is looking at a PC that has both an SSD & a HDD be aware that ATX will ONLY install to the C:\ drive. In my case I have a 250GB SSD (C:\) and a 1GB HDD (D:\) Having several years of ATX tax software will fill up a 250GB drive fairly fast when including backups. Windows & ATX are the only programs on my SSD (C:\) all others are installed to the HDD (D:\) if they allow it.
  12. Crank

    Your fee

    Only ever had one. 22 yo kid. I passed on the bank charge.
  13. Crank

    Summer Gathering

    I wish I could attend but unfortunately I can not. Hope everyone has a great time!
  14. Crank

    1040 PostCard

    Hmmm, maybe I should cancel my tax package order
  15. Crank

    It's time for a new printer

    Where are you getting your toner. From amazon and ebay I usually only get <1500 pages from the "high capacity" carts.