Lee B

Yeah, I have a client with 4 employees who insists on manually calculating his paychecks. The WH calculations are all over the place, then I have to clean it up when I do the ATF recordkeeping.

If you just have a few 1099s, use one of the many online programs that are available. If you search the board you will find a thread from earlier this year where posters recommend different online programs. I used a program called OnlineFileTaxes.com, which was reasonably priced and worked well. Drake Accounting requires you to obtain a TCC code from the IRS, so it's not as easy to use as ATX Payroll Compliance.

In my experience, the CA FTB is probably the most aggressive state revenue agency in the country. You can try claiming your client doesn't have nexus and maybe it will slide by. My opinion is that they do have nexus.

Well you are fortunate that they apparently know a lot more about NC payroll taxes than Oregon's payroll taxes. After all NC is their home state. As far as Medlin goes, yes email is their primary support mechanism. I have always received a response within 20 or 30 minutes. Medlin is definitely a stickler for following payroll rules and regulations, therefore they won't help you bend the rules. They aren't a very big company so they can't really do phone support. The program is extremely flexible and very efficient. Medlin would not be a good program for someone that doesn't already have a good understanding of payroll.

I suggest you read FAQ # 16

The IRS has released the following FAQ : https://www.irs.gov/newsroom/faqs-on-the-early-release-of-the-2020-form-w-4

The IRS is underfunded, understaffed and probably won't be caught up until sometime next year. It is what it is, work with it.

Actually, if they don't fill it out, the fallback default is S - 0.

Hopefully, your client set up a separate checking account in which to deposit the proceeds, in order to avoid awkward questions about comingling the money in a n audit situation.

I used ATX for 20 years before I switched to Drake prior to last tax season. Drake does efile all of the Oregon Forms. ATX has had a long history of only efiling only the primary state tax forms for lower population states like Oregon. I seriously doubt that they care about your elevated level of frustration.

FAQ # 28, 32, & 33 related to Partnerships and S Corps are both worth reading and confusing.

According to Tax Pro Today, the IRS on April 11th quietly expanded their Section 199 A FAQ from 12 to 33 questions and answers: https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-income-deduction-faqs There are a few surprises related to S Corps and Partnerships. Putting out additional guidance on April 11th ??? I am truly at a loss for words.

Our use of our smart phones for financial transactions has become a serious weak point. Hackers have now created methods of attacking smart phones which do not require you to click on anything. I have a smart phone, which I use for phone calls, texting and as a camera. I do not have any apps linking me to my bank, broker or my retirement accounts. I only use my desktop or my chromebook for those accounts.

The overall combination of hardware and software that makes the internet function is very complex and convoluted. There are so many access points that hackers can attack that's it's not a question of if, but a question when. All we can do is follow good security practices and limit our risk. Actually, our best defense is we are individually small potatoes.

Excellent question, however you don't have enough information to evaluate the level of risk, which is one of the key factors when deciding whether to notify clients.

What, I have to read every post here. I guess age is catching up with me. My metal acuity seems to failing. Sorry, I didn't realize it as the exact same topic.

According to the following article in Tax Pro Today, the IRS has announced corrections to Schedule D Worksheet Instructions as of May 16th: https://www.taxprotoday.com/news/irs-fixes-schedule-d-worksheet-that-miscalculated-capital-gains-taxes?feed=00000158-3f5d-dcbd-abf8-ff7f12270000 If your Tax Software followed the prior incorrect worksheet instructions, clients with certain Capital Gain scenarios may have paid more capt\ital gains tax than they really owed! The IRS says they will review the tax returns affected and make corrections ??? The only way I can see using out tax software to analyze the potential changes would be to make a copy of the return and recalculate once our software has updated the corrected Schedule D worksheet calculations ? Just when I was relaxing into my offseason routine

Exactly. plus when it's a positive adjustment you get a four year forward spread.

Are you able to connect to other internet sites ? You may need to reboot both your computer and your router/modem.

Oregon does not have any sales taxes. However, it does have state income taxes with the following brackets, 5%, 7%, 9% and 9.9%. This bill actually reduces the brackets a bit to 4.75%, 6.75%, 8.75%. The 9.9% bracket is not reduced.

Putting it on Schedule C may not work since the business doesn't exist any more. More likely it qualifies as Investment Interest, which may or may not be useful given the increased standard deduction. The only other possibility is a capital loss deduction.

If it was an unknown strain, which was undetectable, how would they even know whether any data was lost ? It's not like someone stole the crown jewels. The data doesn't disappear, the hacker just leaves with a copy of the data.

Oregon has just passed a Gross Receipts Tax of 0.57 % (57 hundreths of 1 per cent ) on all sales within the state in excess of 1 Million Dollars. The Taxable Sales will be arrived at by subtracting the greater of 35 % of wages or 35 % of COGS. More work for me and higher fees for my larger clients.

This is a link to an article in Accounting Today about Bloomberg's Annual State Nexus Survey: https://www.accountingtoday.com/news/states-moving-fast-on-economic-nexus-standards?utm_campaign=tax practice-may 16 2019&utm_medium=email&utm_source=newsletter&eid=764f28717505916a3f00039c8623c5ba I copied this paragraph because I never imagined that landing a company airplane in a state would constitute nexus ! "For the first time, the survey asked whether an employee flying into the state on a company airplane for business purposes would create nexus. “Twenty-five states said that this activity creates nexus for the corporation,” said Boeckel. “The answers were the same regardless of the number of flights — one to four versus five or more — into the state."

What, I have to check the dates on these articles, that's too much work