Margaret CPA in OH

Whew! Take a few deep breaths, look at some beautiful fall leaves, and remember to care for yourself and family first. No client is worth this level of angst, in my opinion.

I am renewing my license for 3 more years then retiring. I believe my client base of nearly all over 50's will want to continue with a person but agree that the under 40's would rather deal with a screen, especially a phone app. There is a limit as to how much I want to manage on such a tiny screen.

Baby goats are about the cutest critters to watch, I think. A friend raises them and posts videos from time to time; always entertaining. How do they jump so much? Thanks for the smiles today!

Hmm, I recall it working for my amended returns. Maybe try to delete, save and close, open and add back?

Just keep in mind that, if filing separately, both must either take the standard deduction or both must itemize. With the high standard deduction now, itemizing even splitting, can be less advantageous than in earlier years. So take a look also at state and local taxes - more than $10,000? - and charitable deductions.

The MFJ vs MFS form shows immediately the difference in tax liability, joint vs separate. For Ohio, it also shows the difference for the state and for the combined liabilities. Because OH begins with AGI and limits deductions and has other differences, it is possible to owe IRS but receive much larger, offsetting refunds from the state. Your situation may vary considerably. Just be sure to note the liability difference, not whether tax is owed or refunded. That depends on how much tax was withheld, of course. To date, even with 'warring' couples, none have chosen to pay more tax overall just because the withholdings were not aligned. A fairly recently married couple, older, was very surprised at the significant difference it made as a household liability. Neither had been previously married and wanted to keep everything separate until it would have cost them, combined, over $1000.

Remember to change Filer and Spouse appropriately (correct SSN's, birthdates, etc.) and be sure to run the check return. It likely will turn up a few reminders to check. At least the bottom line should be easy to determine.

No automatic magic. I duplicate the return, label as Filer, delete spouse info, change whatever is needed (anything marked as J, for example), then do the same for a duplicate return for spouse. I always print first the form MFJ vs MFS to confirm all data is where it belongs and the bottom line is correct. Be sure to note those items which are limited or no allowed for FS, only for joint. It takes a bit of time but less than entering everything from scratch. It does go quicker if you have correctly entered anything that was just F or just S and remember to split those J items, if appropriate. I have done many of these and am grateful for this feature.

This does sound so painful and sad. I have personally not had any issues in my family with the elders passing as there was nothing to fight over. However, I was trustee and executor for wealthy clients. The trust attorney was very astute in setting up the complicated structure, making the grands wait for 5 years before principal distribution. That cooled some heels among them but there was antagonism towards me as trustee. When questions or complaints arose, I simply pointed to the trust a copy of which they had before death. There was also a private letter for some property distributions with one item creating an issue - so I donated it. As Lion said, breathe, hang in there, do what is right, vent here, and know you have done your best to care for your mother and abide by her wishes.

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.

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.

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 ).

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.

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.'

So sorry for your loss with this aggravation compounding pain. I do hope things will clear soon for you.

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!

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!

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.

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.

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.

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!

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...

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.

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.

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.