Margaret CPA in OH

Applies to recent widow and new client. Basis was exhausted as husband took early retirement.

I noticed a new form KY OL-S available for KY. I appears to be similar to the Generic City Returns for OH but not sure. I couldn't find it on the KY DOR website forms but it does appear to ask all the information that was/is on the OL-3. Is it okay to use? It would be great!

For dependents children the standard deduction is the greater of $1100 or the amount of earned income plus $350 (not to exceed $12,200). Looks correct to me. As that is the standard deduction, it's deducted, not taxed.

I'm thinking they have gone home, too. I called about 10 days ago and was really helped by PPS then the Lien unit and got the POA in the pipeline. When I call again a couple of days later to check the status, got the no live service message. Since my client needs a specific payoff amount and payoff letter, I/we can only hope it will come faxed to me or mailed to client by closing date. Then again, I'm not sure the closing can take place now. If you have the option, I think pull transcripts. Even if my POA has gone to CAF unit by now (takes a few days after faxing to agent), I don't think a payoff amount or letter would be available in e-services.

Judy, that is so very much to handle - thankfully you know that we are here for each other in ways we couldn't have imagined years ago. We all share similar burdens with our profession especially at this season then all those personal issues that remind us we are human. Possi, please let your relatives know that there is this other 'family' out here holding them close. Thanks to all for responding. I was worried about this family and it seems with reason. On a small positive note: my almost 18 year old cat (Tribble, the black and white one in my avatar) had her feeding tube removed 10 days ago and is gaining weight and has much more energy. I wasn't ready to lose her having lost Noogie (Cattanooga, the black one in my avatar) just a couple of months ago.

I've seen nothing and am getting concerned about my peeps.

Ohio is shutting down 9pm tomorrow. Our amazing Director of Health, Amy Acton, should be at the national level. And I am quite impressed with Gov. Dewine. http://www.hamiltoncountyohioema.org/wp-content/uploads/2020/03/ODH-Order-Stay-at-Home.pdf

Thanks, Judy, but it is now well after the deadline. The have provided on their letterhead that they received that amount of money although that isn't the same as a 1099 going to IRS. I'll have to think about this some more. I also need to clarify the actual transfer of money. Wondering if it 'goes through' the pro's account in client's name (they assist in billing the insurance being set up to do that) rather than to her first then she pays them. Probably the former. They also pay her directly for counseling some of their clients so this is a fairly small amount of the total but more than $600.

Thanks for the reply. I do expense the offset because that is what the client is charged. It can't be issued directly to the holistic health professionals as they are not doing the counseling so cannot bill the patients' insurance. Client is an independent contractor (own scheduling, etc.) just using the office space and support. Professionals are willing to accept as payment just the amount insurance pays. It's all bottom line even at the end. But the fact that she pays over that amount for the space and support to an LLC kind of seems to require that she, in turn, issue a 1099 as it is over $600. Sigh... there are bigger problems in the world now.

As mentioned by TaxCPANY, you enter this data (assuming foreign income not a US W-2) on FECWKST, a downloaded form. Then check the box to carry to 2555. After that data is entered, look at the DATA and pages and worksheets of 2555. One of the worksheets is W2 Data which carries over the gross income from FECWKST. Any taxes withheld have to be entered in 1116 as Gen. Limitation. Be sure to indicate on the Earned Inc Allocation of the 2555 the correct code.

Client uses facilities in an office of holistic health professionals for counseling services which pays her via 1099MISC. Insurance is billed as possible and insurance issues 1099 to client. That amount is paid by insurance is withheld by holistic health professionals in lieu of rent, phone use, office support, etc. Does the client have to in turn issue a 1099 back to holistic health professionals? The insurance company issues in client's name as she is the service provider.

The problem with the method you describe is that the signature that comes up is the one on the 'account' or email name which does work but it has to be sent twice. I have been separating the signature page(s) from the client copy of the return to send only once. I have discovered that if you list the client as Joe or Susie, that is the name that comes up not the legal name Joseph or Susan. I didn't know that when I set up the clients and, unfortunately, it cannot be changed by deleting the account and re-entering. Once an email address has been used, it is always there. The tech said they are working on better work arounds. It's still been a (potential) life saver for some clients now and at $9 per month (less than the membership dues to get it free), cheap at the cost. I am loving it!

I got this from a tech: Currently the name of the user's account pre-populates the name in their signature. We are working on letting people more easily change their signatures, but for today, if the signer needs to change the signature they must: 1) Log in 2) Click their name in the top right and select "Account Settings" 3) Edit their name to what they want their signature to say 4) Delete their signature (this is also in Account Settings) 5) Re-save their signature You cannot do this for him. Even if you change the name you have for him in your contact information, it will have no effect on either his account name or his signature. Yes, there is a choice of font. People generally want the Handwriting font for their signature. We are also working on updating the fonts so people have better choices. By the way, you can test all of this with your own signature on your Account Settings page. Another option is to just share the document, have them Preview it, click the purple button, and add their signatures using the free annotation tool. I have tried this and it works but clunky to explain to clients.

I keep trying to reply but it keeps disappearing. Why? I will try again.

It's been interesting reading this and remembering 40ish years ago when I lived in Back Bay area of Boston. Having just moved from Switzerland, we had no car and discovered we didn't need one. Then bought a condo at Beacon and Fairfield just being converted from student apartments following conversion from a single family house. As the third buyers, we used our saved up car purchase money to buy the parking space then rented it out. I was a molecular biologist then and knew nothing about depreciation. I do know that 3 years later, about 1979, we were offered $10,000 for just the parking space! Hey SOL expired by now, right?

Thanks Max. I did all that as in my previous answer. PPS agent looked at the POA's and told me to call the Central Lien Processing unit which I did this morning and refaxed the POA's there. As I know it takes time to be on the CAF record, I was prepared to fax again. That agent gave me lots of info and pubs to reference. She was going to try to get to it this afternoon and fax a payoff letter but couldn't promise. The seller will have plenty of money to pay off the liens at closing but we may have to get a Certificate of Discharge and I have info about that. As the closing isn't until March 31, she said it was likely this would be a mailed issue. I will try again in the morning. There is no mortgage outstanding, only closing costs, I think. An interesting little diversion from the usual tax prep stuff! And they will pay so all good

Thanks, did that with very short wait time. But now I have to call the Central Lien Processing unit, fax the POA again and get the real details. Of course that office was closed by the time I finished with PP line. So tomorrow. At least I think this will work and quickly, I hope. It was actually a nice diversion from typical stuff.

I did send out an email for those laggards and stressed Verifyle or fax. It seems to have worked.

A new client is coming later trying to get an exact amount to pay off a tax lien. His father and partner are both in homes with dementia and he (with POA) and partner's sister (with POA) are trying to sell the house they lived in. Partner has $25,000+ IRS liens on the property from 2009, 2010, and 2011, apparently from SE tax. I am planning to get signed 2848s from each (though I think I really just need that of partner's sister) to fax to IRS and hopefully contact a live agent to expedite process. Any other suggestions? The buyer is eager to close by end of the month but title folks (?) need the payoff amount first.

Add Form 9325, it would say when the withdrawal would be.

Medlin, I am so sorry for your loss. This camping trip was well timed. I hope it is comforting, healing.

I would, for sure.

And this after reading about 2 Seatle ER docs in serious condition with COVID19 - a physician friend forwarded this to our church, she used to be a member: From a physician in Seattle: At her hospital, all ventilators are in use and they have reached the point of rationing care. They are now having to choose between venting babies and COVID-19 patients. One of their own 40 year old emergency room physicians is in critical care. Everyone please stay at home. If you absolutely must go to the grocery store or work, stay 6 feet away.

One thing I read recently pointed out that if we have not done enough, we will know that with the mortality counts. If we have done too much, well, we will never know for certain. With lives at stake, I'm on the side of overkill, oops, too much. I do agree that the hoarding and price gouging is unconscionable.

On the worksheet you also have to complete the other applicable information. See the Note. above that area. If only the allowance is entered without the offsetting information, it is excess allowance and taxable. You have to show the expenses or FRV of the home. The minister should be providing this detail to you.