Margaret CPA in OH

This is fantastic, Catherine! It means you either have too much time on your hands at the moment or the muse struck you and resistance was futile. I hope you don't mind that I share this, with attribution, of course!

And don't forget the 12 day occasional entry rule. This has worked for a client who does consulting in two places but is physically never in either for more than a few days.

Determine whether there can be a loss carry forward. Many/most municipalities will allow some sort of carry forward so establish that. If there is a loss on the federal that can be carried forward, it will carry over to that extent on the following year and Ohio begins with federal AGI. I am not sure how a part-year loss in 2022 would be carried to full year 2023 but would go with it, I think. But I can't think too much more tonight.

More than $300 but, if well organized, probably less than $500. If lots of messages getting the documents (like the 1098T and answers), maybe more. I bill by time, not form. When it takes a lot of time - begin the return, ask questions, pick it up again, more messages for answers, etc. - it costs the client lots of money. Like the video that's been around, I'm billing time and also expertise.

No, they do not unless they work in that municipality. We live in a township (very common here). When my husband worked at the university in Cincinnati, tax was withheld. He retired before COVID but now WFH people not actually working within a taxing district do not have to pay that income tax. Cities still fight it. The 'official' address you mention is likely just the post office. Our post office area is Cincinnati but we are not Cincinnati residents. Clear as mud?

Check for part-year tax credit on Schedule of Credits and IT NRC to allocate income within and without Ohio. You may also use Ohio IT 2023 Income Allocation and Apportionment Nonresident Credit. If retired and receiving retirement income, check nonrefundable credits on the schedule of credits. If over 65 with low enough income, there may be a $50 senior citizen credit. That's a start. Ask for more particulars, there are several OH preparers here, I think.

I agree with this observation. I have had my last 6 computers custom built without any crapware by my computer guy - for 25 years now. If anything goes wrong, he can fix it because he built it. I also have it go in for 'spa treatment' every fall before the season to be sure nothing has sneaked in or is causing problems. It may be a coincidence but I think my program has crashed fewer than 5 times in all the years I've been using ATX since 1996 tax year. And I cannot even remember the last time. (Now I've probably hexed myself, right?)

At the top of the 1099-INT data entry screen, see the third line - To enter 1099-OID entries, refer to the following Knowledge Base document KB Doc 000062651. Click on the link - Box 6 - Acquisition premium see the instructions on Form 1099-OID and IRS Pub. 550. I did not look at the instructions on Form 1099-OID or IRS Pub. 550 but you might wish to do so. That information may help you.

If you are using ATX, page 2, Part V, Section 5. In Fixed Assets listing, add Vehicles in Category and complete the other fields appropriately. One of the tabs will be Auto/Listed Information with all the same questions as you know or you can choose Standard Mileage with all that data needed. Pretty easy, actually.

Pursuant to Reg. 1.643(A)(B), trustee is making a regular practice of distributing capital gains to the beneficiary as trust instrument permits. I was trustee for several trust and did this for the life of the trusts.

What does the trust document say? What has the trustee opted to do? There is an election and statement to be included. I'll look it up and get back to you.

Thanks, but the money will be direct debit as soon as e-filed so, assuming the 'overpayment' was applied but not there yet, there will be some money in IRS pockets. I guess we will have to see how it is sorted out with late payment, etc. when the love letters arrive.

Thanks for replies. So I should consider the money applied for 2022 returns and carry on. They have not received a notice, probably CP2000, from matching the 1099. And the amended return can be e-filed and paid with direct debit so think not such a long process time. Always something...

I have a Brother HL-L2325DW, laser, which holds half a ream I think but love the double-sided copies it can make. It has a smallish footprint and is perfect for my small practice.

Client showed overpayment for 2021 and applied to 2022. Amended return shows 2021 actually had small balance due. For amended return does client actually owe and must pay money not received or have underpayment penalty for not paying estimated payments thought covered by (nonexistent) overpayment applied? Never had one of these before so any help welcomed!

Just WOW, Catherine! I can imagine the time involved with this. Hope you charged and got paid well!

I was a poll worker for the first time last fall. My check and stub were for $185. I guess this area doesn't pay so well! I just included it under Other Income not subject to SE tax.

Yes, there is a separate email address but, as I recall when I got mine, one has to have photo and other credentials. I can file it through my other IRS login but this seems odd to have individuals to have to use their personal ID.me to file for a company. She is coming by next week, we'll try to figure it out together. Thanks.

I looked online and on this forum but cannot find the answer as to how a non-profit creates an ID.me account which is required now to submit a 990-N. I would like for my client to do this for the organization and not have me do it. However, she has a personal ID.me account. It doesn't seem right to use a personal ID.me login for a business login. What am I missing (besides many brain cells)?

Thanks for this additional information. I used to have many SD 100's but now just one. The take home is to also know which base the SD uses and they do differ. Like all the muni's, another PIA!

Thanks, Jims, for updates. I did omit that extra 0 on the business exclusion (details, details) and I even have it on my own returns. Businesses do not pay school district tax https://tax.ohio.gov/researcher/tax-analysis/tax-data-series/school.district.income.tax

Hi Catherine, Generally there is nothing special other than the usual registration on the Secretary of State with Articles of Organization https://www.ohiosos.gov/businesses/ Check the last box about Revised LLC Act as of Feb. 2022. For the clients this might help https://ohio.gov/business/resources/business-first-stop SMLLC is just Sch. C and no special filing as Ohio income tax begins with federal AGI. There is a 'big' exclusion of business income for taxes up to $25,000, though. If MMLLC, then 1065 and, as a pass-through entity, there may be additional requirements for out of state members. It can get a bit complicated. So this is a start and follow up depends on what the clients decide to do. That, of course, will lead to the right research path. Good luck! Oh, just be aware of the multiple municipalities that all want to tax so the location of their business is important to know.

I think the funeral home should never be paying church employees for those services. Why would the funeral home pay church employees for anything? Or are they outside independent contractors or are they employees of the funeral home and work for the home at various funerals and not for this specific church? If funeral home is paying the minister, that is part of the clergy Schedule C. Who actually works for what entity?

As a former and current church treasurer who also relies on Church and Clergy Tax Guide: 1. Yes, as the clergy are performing pastoral duties. If paid from family or funeral home, Schedule C. If paid from the church, the budget line item may be different from the salary line, but still taxable income included on W-2. 2. If the others (non-pastors) are employees of the church and paid through the church, yes, part of payroll. Again, may be a different account but still employee pay. Part of the pushback may be coming from 'charitable contributions' made to the church to be passed through to these folks. This can and does happen. Employees getting paid from employer for doing their job have taxable income.

Yes, just scroll down a full screen (in ATX). Under Conversions From Traditional, SEP, or SIMPLE.... 2 lines more has a checkbox to Check box if qualified charitable distribution (QCD) and enter qualified charitable distribution amount. Over the years I am constantly finding how many screens have so much more to see if one just scrolls up or down. For such a relatively inexpensive program (despite some faults and less than stellar support), I really think ATX has so many features, more than I know how to manage even after 26 years with it. It pays to just browse around sometimes, something I'm trying to instill in the office admin at church with the membership database.