diligentbiz

Lucho ~ Thanks for mentioning "blessed day". We all need and need to share that. God bless you abundantly for sharing with us! ~ Diligentbiz

Anyone know about the IRS sending notices to the wrong people? I heard about it on K-Cal News 9, Los Angeles this eve., but not enough details included to explain how.

Home office in So-Cal: I charge a min. of $100, but will increase this next year. Family for free; only 2. Thanks for this question. Helps me keep up with the times.

It would sure be interesting to learn why FTB system programmers did this. There had to be an official memo. Wonder if Arnold knows about this ; ) I think the programmers should have, at least, programmed the average price of a tank of gas here in CA. Thank you SO much for bringing this to our attention!!!

March 11

I've been told the biz's aren't concerned about penalties. My view is of the possible dominoe effect. I asked my clients to provide a personally written, signed statement showing their figure that should have been on a 1099. At least, that helps protect me, I hope.

This is his first year. He owns all the stock, not publicly traded. No employees. I filed a Form 7004 extension while I try to gain more data from him. Since I posted this message, I got a copy of his IRS CP 575 A (Assigned EIN). It states he will be filing an 1120. ~ THANKS for you input.

Of course, she'll go to someone else next year, thinking someone else will do different. Oh, but before that, she'll call you many times with questions. Been there, had that. Next year she may go to an aged, inexperienced, VITA or AARP volunteer and talk them into it.

I have a Calif. Corp. client who can't identify if he's S or C. He provided me a copy of his filing (Form SI-200 C). There's an "S" in the upper-rt. corner of the State logo box. Does this reference S-corp? If I understand (maybe not), he would be a disregarded entity and what he drew from the corp. would be reported on Sch. C? I've specialized in sole-props since '68; stayed successfully shy of corps. With rising costs I face, took this one on mid-year.

I'm a Calif. Preparer. For state, just attach a full fed. return behind the state return. Oh, and use a big manilla envelope, if you provide envelopes to clients (I always do). When you consider "they" have to candle it, it'll make you smile.

Interesting! I encourage more opinions. 1099's, for whatever reason, are not coming in this year. Clients have told me that their employers would rather pay the penalty than deal with 1099's. Software cost? Don't we understand! that! Please explain the $25 "gift".

I'm SO glad to know I'm a professional, same as you! I sincerely understand how you all are feeling and doing. I fired a long-time client in Feb.; have progressively gotten rid of flakes the past few years (helped my anxiety attacks). One client was playing with Turbo Tax...and there in the docs he sent me was a completed return. It had due...I, professionally, had refund. A client, today at 6:30 am, called, whining because she owed. Requested I email a .pdf. She called, afterwards, and whined for 30 min...til I told her I had to get back to work. She's making over $100 thou a year, not having enough taxes taken out...and wants me to come up with a miracle so she won't owe tax. I work out of my home office...thank goodness no more calls of whining tonight. And the beat goes on... Too many questions about the eco stimulus pkg! Great way to encourage more people into the system, huh? I'm tired of answering the question, "What does RDP mean?" on Calif. returns. Silverbelle, if there's anything I can do to help you out, email <[email protected]>

I'm finding more biz's aren't issuing 1099's this year. Anyone else find similar?

If you received the IRS Newsletter this week, it has a link that answers this question. If you haven't, let me know and I'll forward a copy to you. My e-address is <[email protected]>

I sincerely agree. I look forward to winding the day down by checking on my "family" and trying to help them. I'm not always right, but learn so much from this family. THANK YOU ALL!!!!!

I agree with 50%. Make 'em learn from their error. But...I re-did one simple return this year because client forgot to tell me he'd received $5000 unemployment. He offered me a cooked pot pie if I had it done in 15 minutes. I took 30, but he brought me this huge and scrumptuos pot pie. Helped me eat and get back to work. Whatever works for you, I guess.

I always photocopy and attach the K-1. I read years back that this is regulation.

My Toshiba laptop was shutting itself down while I was working. I searched the 'net and found that Toshibas will do this if they overheat, which is a real problem with them. I sat the laptop on 2 (1 didn't work) of those baskets you use for paper plates. Hasn't shut down since. No bad days now.

I do allot of mail-in clients. Long as you get their returns to them in time, they're happy. Postage is less than gas this year (and probably next). This also allows me more productive time. Try it...you'll like it! Of course, new clients get important questions and chit-chat. Many of my clients have been with me over 12 years and I love them. They know it and they like mailing in their stuff...and knowing they're still getting my personal attention. Plus, it broadens my field. I do taxes nationally.

Deductible. I went through a client audit and it was confirmed deductible. Nowadays, some folks are living off social security and equity line. Hard to tell them they're belly up and waiting to be stepped on hard. Fact is, credit card interest is no longer deductible; equity interest is.

IRS will demand both portions from the employer; that's statute. If the employer didn't send the $500 to IRS, that's trust funds violation. There is something employee can do...cause attention.

Are you using top tabs or side tabs? I lost a 1040 on top tabs. Haven't had the problem since I switched to side tabs.

Forget the rental situation, even though parents pay kids each month. The house is owned by the kids, they get to claim the deductions because they are actually paying the mortgage. I have personal experience. Who got the money from the loan, parents or kids? This is the deciding factor of the risk.

I'm in!

How many of us are going to be assisting with an client audit because of this stuff? Even if our charge equals the new season's software, is it worth our time and licenses? Some years back during an audit, IRS auditor told me to find other software for depriciation reporting. Makes you wonder about our decision...NOT. it is our decision...and what we can afford. It's that simple.