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Posts
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Everything posted by Lee B
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I set up a new computer a week ago, a refurbished HP Win 10 using the chrome browser. Every time I log in, I get a message that this site is not secure, that it doesn't use https?
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I have had the first part happen 5 or 6 times years ago before I switched to filing online with the SSA, but it was always resolved by responding to the first letter and mailing in the W 3/W2s. Yeah, the Tax Advocate is swamped. At this point I think the best option would be for her to contact her Congressperson who usually has a designated staff person to handle tax issues. If you do that, you will need to have everything clearly documented and explained. They aren't going do research for you!
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I pick up a few hours of free CE here and there. However the quality varies quite a bit from occasionally good to not very good. There are a number of free one hour classes that are a mixture of CE and the presenter marketing their services, which can get tiresome. Several times a year the IRS Small Business/Self Employed Division will have a free 2 hour class which is usually pretty good.
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Live long and prosper.
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My prediction is Friday, January 27th.
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Oregon requires 30 Hours every year with an annual renewal . Oregon doesn't allow carryover hours so it easy to add up your hours. Oregon License renews on May 31st so I end up doing about half of my hours in May.
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:The IRS will begin accepting all business tax returns at 9 a.m. Eastern on January 12, 2023."
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Crypto is just like the magic elixir tonic water that carnival barkers used to sell over 100 years ago. The Fountain of Youth and the Pot of Gold is just waiting for you to find it.
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Wait until Saturday or Sunday when the website isn't swamped.
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I noticed when I downloaded Drake 2022 yesterday, the size of the download was over 50 % larger than last year?
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I don't see any difference between Crypto, Non Fungible Tokens, Stock Options or Derivatives., You can't see, smell, touch or hold them. They are all numbers in a computer somewhere
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Last year to my surprise, i had two clients who during 2021 bought crypto and then sold all of their crypto before the of 2021. Fortunately, they had all of the reports that I needed to report their capital gains and losses. Tom, would you tell a client that "crypto" isn't a "property of any kind"?
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I would create my own letter or at the very least have the client sign and date your file copies.
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Memo to the file with name, dates and times, which is why I prefer email.
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No, Form 1096 has a signature line but filing a 1096 is only needed when paper filing. However you should have an signed Authorization Letter or Form on file.
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"The wash sale rule currently only applies to assets classified as stocks or securities and other financial instruments that are traded on organized exchanges. Cryptocurrency is classified as property by the IRS and is currently not subject to the wash sale rule. An investor in a virtual currency can sell their position to lock in a capital loss and immediately repurchase the currency without losing exposure to the cryptocurrency." I am sure this will inspire a lot of year end transactions.
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I suspect the programming is being done overseas. probably in India.
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Yeah, everyone is trying to maximize profit and stock market price by CRM, Data Mining and converting the Data into advertising and marketing $. It been very interesting watching Intuit do exactly that over the last several years.
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I have read variations of this list online: 1. Just a friendly reminder . . 2. Don't take this the wrong way . . . 3. Got it 4. How are we doing with . . . . that I'm waiting for 5. If that's what you want to do . . . It does make you think about how you communicate with clients, friends and family. So my New year's Resolution is to be less negative and more positive
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How will Sch C and D look like for this single person (Crypto)
Lee B replied to Pacun's topic in General Chat
I wasn't aware of that. Information I have read says it can be a hobby or a business depending on facts and circumstances. I would appreciate if you have a cite? -
How will Sch C and D look like for this single person (Crypto)
Lee B replied to Pacun's topic in General Chat
Excellent points. The IRS considers Crypto to be capital assets so 2 thru 5 are various capital gains and losses. -
If that was my experience, I would be frustrated too. Most of my appointments are made via email. I give them several times to choose from and they pick one. It works well for me.
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"DURHAM, N.C., June 16, 2022 /PRNewswire/ -- BioAgilytix Labs, LLC ("BioAgilytix"), a leading global contract research organization focused on supporting pharmaceutical and biotech partners in all phases of drug development, today announces the appointment, effective immediately, of Euan Menzies as Chairman and CEO." So the current CEO and previous Interim CEO did not come from either the Accounting or Tax World.
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In essence the Cinven Holding Company that now owns both Drake and Tax Act bought out the Drake family back in early 2021. "Drake Software has appointed Dominic (Dom) Morea as President and CEO. Interim CEO Euan Menzies will continue in his role as Chairman of Drake Software. Dom Morea comes to Drake Software with a strong background of more than 20 years’ experience in FinTech, working with Fiserv and First Data Corporation. He served most recently as Global Head of Fiserv’s Prepaid business. The Fiserv Prepaid business is one of the world’s largest payment service providers, supporting billions of transactions annually across the globe and millions of consumer/app users."