Margaret CPA in OH

I was so certain I had this, packrat that I am, but seem to be missing 2004-2009 disks or they have yet to be unearthed. I have my code though and do have my Parsons TY 1996! That was my first year on my own, so sentimental value. Good luck in your search.

Patrick Michael EA, how large is your wife's employer? Is the payment a taxable 'gift' and/or is it nontaxable and to reimburse her for her Medicare B, D and Supplemental coverage? Does the employer have a stated policy of making the payments for those over 65 to encourage them to sign up with Medicare or does it apply to all employees of any age? My understanding is forcing or encouraging or paying someone to utilize Medicare rather than a group plan is considered detrimental to the taxpayers and Medicare system, i.e., forcing the Medicare system to cover what the business should be covering in fairness under ACA. There is much more to this, of course, and there are exceptions to employers of 20 or fewer and whether there are 2 or more over 65. It's just complicated and I'm struggling to find a simple, definitive answer. My brain needs simple, you know! Thanks for responding, though.

Thanks, cbslee. I keep going round in circles finding one thing that says okey dokey and something else that says, nope. It seems that the employee is free to reject the church group health plan but the stickler is reimbursing the MC expense tax free which is her desire. By providing a taxable HI stipend, she gets penalized for rejecting the group plan while the church realizes substantial savings. I suggested that the treasurer get a documented opinion and IRS cite from the denomination. I am often the main provider of tax related issues but this one has me in circles and I don't want an error on my plate. Thanks again!

Wow! Had I known, I could have visited you! All good advice here - don't rush into recovery. Follow orders at least until your appeal which I sort of hope you lose. I guess this is your first procedure but not that of the surgical team. We all know you to be a superman, but take time to heal and enjoy some down time. Before you know it, all the regular stresses will be upon you so best you prepare by allowing for good recovery.

I'm fairly sure I know the answer from the research I've done but my church finance committee won't like it. I referenced Church and Clergy Tax Guide and IRS. Employee at church will begin taking SS in January and has decided to sign up for Medicare Part D and Supplement in addition to A and B. In raw dollars this would be about $9000 less than her insurance paid by the church on the group plan. She is requesting reimbursement for the ~$300 per month this would cost her. As a small employer, I found the church could have a QSEHRA so this would work but only if there was no other group plan for the other employees. Well, the other employees, including the minister, would not like that. In fact, we are required to provide the minister her insurance through the denomination plan. Her salary could be increased to cover this and we would have to change the current personnel policy but the other employees possibly would expect the same percentage increase which isn't a budget option (even allowing for the savings) and would set a bad precedent, I think. Anyway, are there other ideas I am for sure missing? It seems I'm usually the bad news bearer when good folks at church want to do good things that IRS considers not permissable. Thanks!

" some clients will not like the subschedules" or the extra cost for preparation whether billing by time or form/schedule.

From Journal of Accountancy: Many of the items reported on the 1040 will be calculated on various new schedules, which have also not yet been officially posted. These schedules include: Schedule 1, Additional Income and Adjustments to Income, includes items from lines 10 through 37 of the 2017 Form 1040, such as business income, alimony received, capital gains or losses, and adjustments including educator expenses and student loan interest expense. Schedule 2, Tax, includes items from lines 44 through 47 of the 2017 Form 1040, such as the tax on a child’s unearned income (commonly called the kiddie tax), the alternative minimum tax, and any excess premium tax credit that must be refunded. Schedule 3, Nonrefundable Credits, includes items from lines 48 through 55 of the 2017 Form 1040, such as the foreign tax credit, the credit for child and dependent child care, the education credit, and the residential energy credit. Schedule 4, Other Taxes, includes items from 57 through 63 of the 2017 Form 1040, such as household employment taxes, the health care individual responsibility payment (the individual mandate), the net investment income tax, and the additional Medicare tax. It also includes a new line for reporting the Sec. 965 net tax liability installment from Form 965-A — a form that does not yet exist. Schedule 5, Other Payments and Refundable Credits, includes items from lines 65 through 74 of the 2017 Form 1040, such as estimated tax payments, the net premium tax credit, and amounts paid with an extension request. Schedule 6, Foreign Address and Third Party Designee, provides taxpayers who have a foreign address a place to list their country, province, and postal code (formerly these appeared on page 1 of the 1040) and provides all taxpayers with a place to list information for a third-party designee who can discuss the return with the IRS. The draft Form 1040 and the new schedules also refer to various existing schedules, which presumably will continue to exist in updated form. These include Schedule A, Itemized Deductions, Schedule C, Profit or Loss From Business, Schedule D, Capital Gains and Losses, Schedule E, Supplemental Income and Loss, Schedule F, Profit or Loss From Farming, Schedule H, Household Employment Taxes, Schedule SE, Self-Employment Tax, and Schedule 8812, Child Tax Credit. On the other hand, Schedule B, Interest and Ordinary Dividends, Schedule J, Income Averaging for Farmers and Fishermen, and Schedule R, Credit for the Elderly or the Disabled, are not mentioned on the new form and schedules. A line exists for reporting the earned income tax credit, although Schedule EIC itself is not mentioned.

Check the bottom of page 1.

I swear we look almost like a group of tax nerds! Well, there was the occasional mention of tax, software, etc. but we did have a lot of fun getting to know each other in a very different way. Thanks, Rita, for making this happen (or allowing it, as the case may be ). We always knew you were a super person; now we know for certain!

Or stop processing such 'hot' stuff!

I will be there with Cincinnati chili (but not the chopped onions, sorry) with or without beans but lots of cheese. My husband may choose the golf course being the sort of shy type. We will arrive Friday evening so let me know if you need some help before 2. (I will have to heat up the chili and spaghetti.) We can bring some beer, ice, whatever. I have about 100 plastic forks to bring, too, if you like. Plates? cups? Let us know what is needed. As I am mostly vegetarian now I will also bring some veggie burgers. The chili is not vegetarian, I usually get the sauce with rice and beans but they don't have that in cans yet. We will have to leave by 6 to make it back to Cincinnati before the sidewalks get rolled up.

I received 2 Docusign emails spaced 4 hours apart. When I tried to delete the first one, my email client completely froze so I had to shut down and reboot. I immediately updated virus defs and scanned. Sure enough, a Trojan labeled severe!!! What really ticked me off is that the first one cleaned out my inbox including several saved emails, not all of which were still in the cloud. Grrr... At least the second one was caught before more damage occurred.

Thanks, Catherine. I saw that on Tax Talk. He was a reliable and knowledgeable contributor and will be missed.

Me, too! I just have to figure out how to get all the Cincinnati Chili fixin's there in good order. No Graeter's ice cream as it would surely melt. We need a count by mid-June, I suggest, to be sure we all bring enough of whatever we're bringing!

See you in June when you'll really need help!

Catherine, you are supposed to be enjoying a hot fudge sundae, I believe. Are is that already a memory of the past? I'm muddling with a couple of simple extensions waiting for my husband to return from yoga so we can have dinner. With wine, of course!

London! Wow! Enjoy every minute as you clearly deserve it.

Thanks, FDNY. I really hate the elliptical but probably because I resent having to use it! I'm just hoping I can get back to maybe run/walk shorter distances. I have a half marathon in October that is a must do as I am a 'streaker' in it, 5 years. And I've been fortunate to always be within the top 3 of my age (old lady) group. That's been the same for the Cincinnati Flying Pig (next and last), too so I have some really nice jackets. But none say "Finisher' which apparently is the newerish big thing. This is the Pig's 20th year so they are doing jackets. Then I am finished. Ahh, no more 5am Saturday mornings during the winter training season- Yippee!

When I ran Boston in 1979, the weather was almost identical to yesterday, just not so much wind. I was, however, way back in the pack finishing in 3:35 hypothermic. I needed 2 iv's to recover. Back then there was no Gatorade, no Gu, etc., just water and oranges. That was my last marathon until I turned 60 in 2006. It was amazing how different things were and are. So I've run 8 more since then but May 6 will be my last. The left knee is telling me so. Kind of like this tax season telling me 'the end is near...' So proud of American women and all who continue to work on fitness at any level! Think of that 104 year old woman in the 100 meters! The mind boggles!

I would vote for the client. The bank bozos are in business to make money and, perhaps, the client didn't even ask for advice. Could be client just got a check and deposited it, no questions. And, try as we might, too many of our clients forget again and again our advice that if money is involved, please ask US FIRST! We can't fix stupid or wilful disregard. We are advisors not parents (well, most of us aren't parents of our clients.)

And this is why I choose email still. I can print to pdf and save in the client file. Only 2-3 clients even know my cell number because they are members of the same church. I never have the sound on when I am working as there has been a recent inundation of spam calls here. It's using the area code and first 3 digits of my number so I quit answering or calling back. I was fooled once thinking it was a neighbor. I just respond to left messages. Technology can be very good, very useful and also a pain in the patooty. I choose to use it for my convenience. Ms. Cranky Luddite now signing off.

Welcome! It is a great group of folks. So much so we laugh, cry, and more with each other and are grateful for this board (and Eric!!! Yay!) which enables us to bounce things off each other, support each other, know we are not alone. So glad you joined us!

Just WOW!

Good to hear from you, Ms. TabbyKats! You seem happy in retirement although dismayed about the resulting former clients treatment. Tha's one reason I won't sell my practice, just assist clients with a transition to another practitioner of their choice. Sorry that I am unable to help from Ohio. I imagine this person would appreciate face to face assistance. Hopefully someone else here will be able to step up. Wishing you happy retirement ongoing!

Alas, we all are human and do make mistakes. And the longer we are in the field the higher the risk of one happening. I also suspect that most of us here prepare rather complicated returns (otherwise clients might use TT) and often under the most trying of circumstances. It is additionally challenging when, like me, we are sole practitioners. We try very hard to do and review the best we can. But it is also incumbent on the taxpayer to review the returns before they sign. How could that client miss this without questioning? This is also why we have insurance. And, frankly, I do offer to pay any penalties - not tax - for any errors I make. To date I've been fortunate to pay just $25 or so, a credit on the following year returns. We support you.