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Margaret CPA in OH

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Everything posted by Margaret CPA in OH

  1. I have had a client with 3 states a few years ago and don't recall this as an issue. For now, could you duplicate the return, delete one of the other states leaving OH and see if the OH letter appears? Or check the KB to see if there is a limitation maybe. It doesn't seem as if there should be just because of multiple states. Do you have checked to combine federal and state letters? If so, there may be a limitation with that.
  2. If they are fostering the child (as it seems) and the child has lived with them for more than half the year - well, see all the requirements for a foster child to be claimed as a dependent. If a dependent, they are also qualifying for CTC, etc. One of my clients have fostered children many times over the years but always met the half year or more time until 2021. Alas, they had 4 children for 4 months so missed out big time for dependency exemption. I don't know how the time in foster home relates to adoption. My client did adopt one of the children several years ago.
  3. You stated that the funds were gone from the checking account. If cash was credited, where is the debit? It should be an asset, right? I'm not clear how the asset could be on a depreciation schedule only. What software is being used? Of course the depreciation is an expense debit and crediting the asset. I must be missing something here as it seems basic accounting, you know, T squares (I'm old school ).
  4. I haven't done business returns for a while but why wouldn't the truck be on the BS as an asset? Depreciation or expensing of the asset begins when placed in service but it is still an asset currently, just not yet depreciable. I should think.
  5. This client originally got the one for 2020 online so I assume she is capable of getting the new one as well. I referred her to the link provided above, reminded her to look at the document she sent for 2020 and url to refresh her memory but haven't yet received the reply. I'm sure she is capable, just waiting. Then again, she sent a K-1 to a partnership for an LLC she and husband set up because friends advised them to do so. The K-1 indicated that the LLC was a disregarded entity but the IRS EIN generated indicated a 1065 was required to be filed. Of course she had no idea why I told her that she had to get K-1's for herself and husband, explained that a 1065 was needed but I couldn't prepare it as I had zero information. I said they may well have a penalty assessed as it was long after due date for filing but first time abatement might work. I'm not worried about affordability, just wondering how they could be so easily taken in by 'friends' to invest in an energy p'ship without getting more information. Maybe she will ask next time. Maybe not. Most of my clients do ask before playing with financial situations but sometimes after the fact despite my suggestion to ask first. I guess they prefer the 'better to beg forgiveness (maybe owe tax) than ask permission (or advice as to tax ramifications) method.'
  6. So sorry for your loss with this aggravation compounding pain. I do hope things will clear soon for you.
  7. Hmm, not a stupid question, just stupid me! I forgot that she had one for 2020 and, since this was dated March 13, 2021, and I filed March 23, that's it! I will try without a PIN and see what happens. If rejected again, I will ask if she has another for 2021. She included it with her 2021 documents and I obviously didn't notice the date. I have just one other client with a PIN but this is new for this client. If no PIN gets rejected, I will let her know to try to retrieve the one for 2021, if needed. She is a physician so busy but responsive. Thanks, Judy!
  8. Client has IP Pin issued March 2021 but e-file was rejected as not matching the data base. She sent a copy of the notice and it is correct. I am trying to resubmit now but am not optimistic. Phone call in the future? Meaning now I have to get POA? Ugh!
  9. That's all so beautiful! We have some work to do but not so extensive as yours. Did you do your own design? It's really nice. About 30 years ago, realizing that there was too much shade in the front, we put in ground cover on one side of the walk and a rock feature that looks like a stream on the other side. Perennials were interspersed and we supplement with some annuals. Twice yearly we have a big cleanup. The ground cover is evergreen so the front always looks decent. The back, well, it belongs to the deer, birds (it's a certified wildlife habitat), lots of moles and chipmunks with a few raccoons meandering through. With an acre of woods and a creek it's hard to do much else. Rest easy and enjoy this work of art.
  10. It seems I now have only retention specialists which may be another name for sales rep. I have been getting email reminders to renew a couple of times weekly for about a month. I did email and ask for a better deal which was refused. So I seem to be in communication with all new people (Heath Richardson seems to have left) but getting no satisfaction. I did call the first one and spoke briefly but the next level up for retention replied by email and refused to do better. At least two subsequent messages since then. I would be happy to provide their contact emails and the number I have, if you like.
  11. Just WOW! I had some idea of issues you were facing as they have come about over time but the totality as listed here is nearly overwhelming. You surely don't need reminders that you need to care for you in order to care for others but, well, be reminded. And we here are ever so grateful and do understand that your comments and guidance can divert your mind and energy for what might seem a respite of sorts. There is clearly a lot of love in you for your family; surely it is also returned. Take those extra 5 minutes from time to time to watch the birds, admire the flowers, feel the breeze and recharge. Definitely thoughts and prayers from your many friends here.
  12. Happy early birthday greetings, Judy! If only I was just 62 again.... You will feel better with some R&R, though, and moving your body. It makes a difference. My postponed for 2 1/2 years trip to Raja Ampat diving was just recently cancelled outright by the operator. So bummed after all the delays. But now I'm going to Bonaire in June with friends and my son who was the one that got me diving originally. It will be great! Raja in 2023, I hope! Next month is the Senior Olympics in Ft. Lauderdale with some visits along the way and family reunion in July, Northwest and Alaska in September. A full schedule of fun ahead for us!
  13. Welp, one of my clients got this and sort of freaked out. My first thought reading that they did not qualify for the EIP3 as their AGI was $158k was that I and ATX made an error. When I looked at the calculation, however, it was adjusted correctly as their 2020 AGI was $148k. The IRS letter said that $150k was the limit. Not true. It's phased out. The letter also calculated the balance due as of April 15 even though they sent a check in late March, Certified, Return Receipt, so it had not yet posted to their account. Then insult on top of that was the interest and penalty not actually due. I suggested they double check the date of check cashing and either call the number IRS showed or let me. Haven't heard their decision yet but it made me look a bit bad, I think. And I hate it when that happens - bad enough when I do make the occasional error. Well, I have made one or two...
  14. Here is the reply to my request to do better with the quote for the renewal: Hello Margaret, I understand that in previous year you had 15% and it was probably due to the pandemic . As per this year the company is only giving 12% discount on Earlybird to all of our customers, sorry I am unable to make an exception . Please let me know if you decide to renew your 2022 ATX package. Have a great week! This is not from a sales rep or renewal consultant, rather a person in Business Retention (lots of titles nowadays). I had opined that it must be a challenge to be in Business Retention while simultaneously raising the price and reducing the incentive to pay early. I had not done the calculation to realize the net 'discount' was a whopping 1%. I just did the calculation for me. It's actually a net of about 5% discount not counting tax.
  15. At least you were notified. I've not heard from my rep in a few years. I received an email from Josephine Shaw of the retention team on April 19 then today from Michelle Gonzalez my new renewal consultant (Senior Sales Business Retention) both about renewing now! Of course this is with a higher base cost and reduction from 15% to 12% early bird discount. Sales rep? What's that? Or maybe once you are a customer, you only deal with renewal consultants. This may be the first year I wait.
  16. I got the email as well. Perhaps I should call, too. Did you actually talk with the rep? Answer was? I think I will call. It's a new rep (I don't think I've had the same one more than 2 consecutive seasons) and the message does close with "(a)s one of our loyal customers..." She is with the 'retention team' so maybe see how much retention is desired.
  17. Client came this week not wanting to bother beforehand to discuss 2022 990 and income and expenses for new non-profit. State organization as LLC in order and self-submitted 1023 (I didn't go there yet as already submitted). Then I looked at the 2021 activity and self-submitted 990EZ. Sigh... Cash in entity checking account with EIN of $12,000 at 12.31.21, 0 on 990EZ. No contributions on page 1 and all zeroes everywhere. Sooo, there is time to supercede before May 15 but I'm wondering if it's better to wait until IRS responds with 1023 determination and amend. It really should have been 990N but client had no idea with 'advice' from attorney. There is more for 2022 but time for that, just not sure whether it's better to wait and amend. Thoughts?
  18. 20%? That's great! I think in the 20+ years I've used it, the biggest discount was 15% and now the renewal for 1040 package is just 12%. I've always renewed in May but think I'll wait this year. Maybe.
  19. "Or at least changing to only doing tax returns for people I like and taking the rest of the year off. " What I've been doing for a few years now and love it! And I'm still not ready to completely stop. It's only about 10 weeks and this board!
  20. Congrats to the long termers! I'm at 36 years after 18 years in molecular biology. I, too, intend to keep on keepin' on as I work to dive. Bonaire in June with my son as dive buddy! Happy vacation to all!
  21. Beth, we are your friends here for sure. Thanks for letting us know of this event so we can hold you and family in our hearts.
  22. What a scary event ending with a blessing! Cars are replaceable things and down in the ranks, as Catherine said. Ever since I've had employees and still with clients I've always said, "Family First." Everything else can wait for family matters whether that family is by birth or by choice. Thanks, schirallicpa and Catherine, for lifting us all. Now breathe, take the time YOU need to process. And give extra hugs...
  23. Thanks, Lion, for the details. I've had several clergy as clients and was church treasurer managing payroll all that time, too, so have first hand experience there. I have been a subscriber of Church and Clergy Tax Guide for about 15 years and pretty much know this which is why I alerted the client to the problem. I did the research and it is possible for a clergy person to revoke the exemption with 2031. And not all clergy choose to be exempt and do not file 4361. It is, in my opinion, that this minister filed 4361 upon ordination per the denomination and hasn't given it a second thought since then. Until now. I believe the person responsible for this perhaps gave erroneous or no instructions to ADP which processed the W-2. Although I kind of blame ADP a bit because it does have housing allowance in Box 14. I guess little to no quality control. It will be sorted out but I had to allow for the possibility of revocation since it does exist. I'm not finishing this return without a corrected W-2 (most likely) or confirmation of revocation (highly doubtful). And I did recommend that she consult her local/state/national denomination even to where she was ordained.
  24. I'm thinking it's whoever processes payroll at the new church she moved to in July - could be in-house our outsourced, don't know. I was taken aback when I wrote to have this resolved and husband (managing the tax documents) said minister wife didn't understand what I was saying. I wrote the basics and included links for the exemption, 4361, and revocation of exemption, 2031, and reminded them that for 10 years and through all the moves to different churches, none withheld SS and MC. Waiting for reply but said I won't prepare the return until I get a corrected W-2 or her affirmation of revocation. I just don't believe that all the other churches were in error.
  25. I was shaking my head at this until I received the documents today from a clergy client of 10 years (other clergy clients for many other years so not new at this). She was transferred to another church and SS and MC were withheld. Nearly spit out my coffee! I'm so glad they are already extended because I don't think this will be pretty. Same denomination all this time, moved 5 times, first time this happened. Sigh...
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