Lee B

My reading says no step up for the assets held in an irrevocable trust.

Yes, I have a Fujitsu ScanSnap that is still going strong after many years. Excellent scanner!

Excellent question

Last year I gave up and mailed in my clients W 2s

There are some cities on the West Coast where the cost of child care is over $2,000 per month if you can even find an opening.

The next day I couldn't log in at all, "a configuration or server error has occurred" was the message I kept getting. I emailed Eric directly and he replied "I've run some updates on the server and cleaned up a few issues." After that my log in problems disappeared

Almost all of my clients are Blue Collar Businesses. Every single one of them has a knee jerk response to avoid using Attorneys. When they do reluctantly use an Attorney, they won't ask the Attorney to explain all the stuff they don't understand. So in the end their expectations were fulfilled, it was waste of money.

There are of things which will be reduced as the pandemic related expenditures expire, Medicaid, WIC, SNAP and the Child Tax Credit. In addition none of the usual year end extenders were passed.

I assume the forfeiture is due to an employee leaving before they were fully vested. What does the plan document say about forfeitures? Sometimes forfeitures are allocated to the other participant accounts? Or if the forfeitures are offset against employer contributions then the employer just makes a reduced contribution, in which case I wouldn't make any journal entry.

Hopefully this will free up some employees to work on the 8 Million Tax Returns currently in suspense waiting for a live body to work on them.

"WASHINGTON – The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020."

Is it a PTS or a Joint Venture? Either way I wouldn't issue a 1099.

I had two clients that got in and out of crypto in 2021. Fortunately they had all of the necessary reports. Curious, if your client hasn't done a good job of keeping track of their transactions and they don't have the reports you need then what?

Dell is still selling systems with Win 10 Pro including an upgrade license to Win 11.

I believe there is a backup withholding rule that applies.

No, there are both a tax and legal issues of concern. If you take it upon yourself to decide that it's only a tax issue, then you are doing your clients a disservice. Do you think Attorneys and their legal advice provide a useful service? So do these clients even have an Attorney?

Over the years, it is amazing how clients think they are saving money by avoiding the use of Attorneys. So many people who regard legal documents as something to be signed and forgotten?

If these were my clients, I would set up each business as a separate business entity with separate payrolls which would give you a lot more long term options especially from a legal point of view.

"A proposed class-action lawsuit filed this week alleges that Meta, Facebook’s parent company, violated users’ trust and expectations of privacy by collecting sensitive financial information from online tax-filing services. The lawsuit, filed on Dec. 1 in federal court, accuses Meta of breaking contractual promises to users and, in some cases, violating state and federal law. The action was brought on behalf of anonymous plaintiffs who filed their 2020 taxes online using H&R Block." "Meta is also facing at least five class-action lawsuits from patients alleging that its pixel’s collection of data on hospital websites violates various state and federal laws." So far the only known government action are inquiries from Sen Mark Warner and Sen Jon Ossoff.

Actually I agree, I have bee processing live payroll for 30 years now and I find doing that easier than processing Personal Tax Returns.

Yes, I was using an old bookmark. Strange that I didn't get this message with my old computer.

After doing some reading, I am wrong. You can also add Debit Cards to to Credit Cards. What will be interesting is that Zelle claims they do not have to file any 1099 Ks because they are a different type of financial entity.

Example; You receive a bill for $10,000 with a breakdown of Equipment - $7,000, Installation Supplies - $250, and Installation - $2,750. You send out a 1099 NEC for $10,000. The recipient deducts their cost for the equipment and supplies in COGS .

You're making this way too complicated. I have never separated the materials and or equipment from the installation. Materials and or equipment are deducted in either COGS or as supplies by the recipient, no matter which return is filed and doesn't change the taxable income. SAAS or online payments are not one of the factors that determine whether or not a 1099 NEC is filed. The only way to comply is to file them all. The recipient is not our client.

The only way to know is to require a W 9 be filled out.