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Lee B

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Everything posted by Lee B

  1. Actually, my first impression is that it's a sincere attempt to improve the system.
  2. A tsunami of anger, finger pointing and scapegoating seems to make many people feel better.
  3. It looks like they are trying to do more front end processing to reduce the number of errors which require manual intervention and letters to employers
  4. Yeah, I live about 2 1/2 miles west southwest of downtown Eugene, a city of about 180,000, on the west side of a modest sized hill and our cell phone reception is weak. At home our phones have to rely on wi fi to do anything.
  5. Anyone who will be uploading client's W-2s to the SSA should revad the following document, since the SSA has changed the process: https://www.ssa.gov/employer/documents/WageFileUpload-Tutorial.pdf
  6. Pub 17: "Found property. If you find and keep property that doesn’t belong to you that has been lost or abandoned (treasure trove), it’s taxable to you at its fair market value in the first year it’s your undisputed possession. " "Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless you return it to its rightful owner in the same year."
  7. "Landowners and sub-lessors that do not materially participate in the operation or management of the farm (for self-employment tax purposes), file this form to report farm rental income based on crops or livestock produced by the tenant."
  8. This reminds me of a quote from a book I am reading, "Your tenuous grip on reality is greatly exaggerated."
  9. This isn't a serious question, right? You're just trying to provoke a response?
  10. Estates and Trusts are definitely not my areas of expertise and I have decided to stop doing any work in these areas.
  11. How long did it take you to get thru on the hotline?
  12. Sure, but how long will it take them to open the mail and handle the check correctly?
  13. Sara, almost all of Big Tech is doing all of those things. However, I have seen articles in "How to Geek" etc. that tell you how to turn off most of Googles tracking.
  14. Margaret, I also recently turned 75 Although I intend to continue working part time as long as my health will let me. However I spend the majority of my time doing monthly Writeup/Payroll work, not preparing tax returns. I just counted, I will prepare less than 40 tax returns this coming tax season, 13 of which will be Business Entity Returns. If I had to prepare anywhere approaching 100 Form 1040s, I would already be retired. It's just too big of a grind! At some point my wife and will have to downsize, that will be really hard, we have accumulated way too much stuff!
  15. Lee B

    Drake 2021

    Downloaded Drake 2021 and updated all of my clients from 2020 to 2021 today. Everything went very smoothly.
  16. Good Summary article: https://ruraltax.org/files-ou/Related_Parties.pdf
  17. Yeah, I recently took a screenshot of my text messages with a client and then forwarded them to my email so I could print the conversation. Not very quick.
  18. I dropped my fax line a year ago with no regrets. I plan on dropping my landline after this tax season. Right now I think that 70% of my communication is by email, 20 % by text and 10 % by phone. Actually the biggest issue is that younger clients don't check their emails.
  19. Just make sure that both A and B both feel like they have been given fair and objective advice which results in both clients satisfied, which needs to documented in writing and signed by both clients.
  20. You are in a potential "conflict of interest" situation, which might require letters signed by both of your clients.
  21. Subsequent articles say that EdgeDeflector has been revised to get around the Microsoft block, which MS will probably block, since Microsoft has stated that apps like EdgeDeflector are in violation of MS policies. Also Microsoft is now blocking Firefox users from accessing microsoft.com and other associated domains because Firefox has been in of violation of some Microsoft technical specifications since 2016.
  22. If everything was clear cut in black and white then we would be out of business.
  23. That's my impression subject to the following: "There are some scenarios where shareholders of an S corp can complete a 1031 exchange on legacy assets, but that requires owning and operating the asset as an active business investment -- likely the exact opposite scenario when dissolution of the corporation is the main objective or when shareholders are at loggerheads due to competing financial interest"
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