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Jack from Ohio

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Everything posted by Jack from Ohio

  1. If the actual drive hardware or circuitry dies, there is NO recovering data. If a file on the drive, or some data gets corrupted, then there is a chance. Hard drives that truly fail, will not allow recovery of the data unless you want to send it to a recovery company who will charge tens of thousands to recover the data using laser readers. Ask your IT guys about bit rot. That is the biggest reason to replace old equipment.
  2. Been having this problem with clients for years. They simply will not enforce the rule - "No W-9, No pay."
  3. My recommendations have not changed since one year ago. Ask Marilyn what I told her when I was in her office about her XP machine? There are more reasons to upgrade than just tax software. Good advice and recommendations from experienced people that are ignored are of no value to the recipient. Now the system has crashed right in the middle of tax season.
  4. Seems that we recommended pitching XP early last tax season....
  5. I am of the opinion that these stories will not be the majority. I have not had any clients report back to me yet, more as the season unfolds.
  6. Paper filing approval has no bearing on e-file. E-file only sends data, not forms.
  7. I backup to a SECOND physical hard drive in the same machine. At the firm, we have Raid 5 backup. Three 1TB drives in a Raid 5 configuration. This gives 2TB storage and allows for the total failure of one drive with no loss of data. Additionally, with a couple of mouse clicks, the defective drive can be hot-swapped, and the Raid 5 controller will reconfigure the new drive and no one using the system can tell. I use external backup daily to take offsite for catastrophic loss protection.
  8. Yes to Kiddie tax because of dependent child status. The child must still be considered part of the parent's household for FAFSA and financial aid status. If this was an attempt to get grants from Uncle Sam, it is prohibited due to the regulations.
  9. Under return manager, preferences, then choose zoom. It will become global for every return you open. There are many things under preferences that can save time. Check out each tab closely.
  10. I have never entered cents. .50 an up round up. .49 and less round down. No issues.
  11. Yes and Yes. Wait till June to change. We have 4 systems with SSD at the firm. Big improvement in ALL areas.
  12. That is the way it is supposed to work and it does work smoothly. That part of e-file last year was a HUGE time-killer because it did not work at all. Another difference this year, if you select returns in the e-file manager, those selections stay after you close the program. This is very helpful to anyone with a large number of clients.
  13. Churches, by their very design, are 501( c)3 organizations. No requirement for that to be on the giving statements.
  14. NONE IRS official word: "Most taxpayers will receive their refunds in 21 day or less. Some may take longer." The days of quick refunds are over. Thank you Identity thieves and people that file fraudulent tax returns. Nothing anyone can do to expedite the process.
  15. Note: No goods or services, other than intangible religious benefits, were given to the donor in exchange for the contributions listed above.
  16. The IRS does NO matching of any kind to direct deposits. Hence the ability of the identity thieves to steal hundreds of millions.... Many banks do not check at all either. That is each bank's choice. Again, how do you think the identity thieves get away with it so easily? Apathy, pure and simple.
  17. If it is coded DD, none of it is deductible. http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Coverage
  18. My 1040EF is customized and I am not having this issue. E-filed 125 at the firm so far. 90 had state returns. What did I do differently to not have this issue?
  19. Ordinary income. Schedule C. Everyone is overthinking this one. He received the money for his services as an attorney.
  20. YES! Immediately BEFORE you file the return. If audited, it WILL be disallowed. Recent court case supported the IRS in this matter.
  21. For the record, the amounts listed with Code DD are only those run through a 125 or café plan. Period. It includes BOTH employer and employee contributions, but ONLY if through a café or 125 plan. If the employer give the employee money to help the employee pay his premiums, box 1 of the W-2 must be ramped up to show the amount. Therefore, the number shown in box 12 with code DD is ALL PRETAX and does NOT go on the tax return ANYWHERE. Next tax year, that will not be the case.
  22. The money goes to a bank and the bank distributes the money. Only the fees go to the preparer.
  23. If anyone would like my assistance for technical problems with computers or ATX, contact me by PM or e-mail if you have it. No more posting about such things by me on this board.
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