WITAXLADY

1040 - it is under elections - PPP 1120s - has a line on the bottom - PPP fyi

I like the signed statement.. Thank you all-

??? I should ask that? Is that considered living together or ....

actually - using basis to allow the -6,000 - regardless if it was 1120S or 1065 - I show they have a tax of $3,300 I am not saying the software did it correctly - but I checked box 13a on the 8812 and the tax is then calculated over on pg 3 of the 8812 Sure does not seem correct - did have income! when I took the basis down to $100 - I got the same answer - $3,300 tax - so now I wonder what I am missing!! MISSING the H/H Birthdate!!! Gets the $3,300 additional credit!!

so does the soc sec and medicare get adjusted as well? Am I overthinking this? Ret credit is just a credit on wages and not on the ss /med owed on it? as the W-2's still have to match?

so you are saying it is all on wages and do not bother with what was paid back against the soc sec and medicare? The 70% - as in gross - I found it on a a Sch F!

over worked! 1 staff still out with Covid symptoms since Christmas - trying to do books from home as she needs to work - staff thought she did not do much - they are finding out hmm - she did more than they gave her credit for. I prayed a 9 day Novena to St. Joseph for help and got 2 clients - homemakers whose children are back in school and they are working great! I thought I had someone to train over the next couple years to buy me out - but I think she was afraid to take the leap!! summer project - Did you realize that the 3 main forms - I use have added questions and now the PPP has a worksheet - Retention Credit has to be answered if they received the stimulus! EIC - if yes - go to q6!! what? and answer q13a on the 8812 Who sits and thinks of these!!! and how do you charge for this... Best, Darlene

went to a tax class that said the IRS wants the retention credit wages to offset wages, soc sec, medicare etc to offset that as well. First negative numbers do not work on ATX at all. second - how can you show negative soc sec third - another article states it is like a grant so it is other income But if IRS is looking for it as adjusted wages - K-1 will not match wages under officer comp and W-2? and wages will not match W-3 nor 940, 941's?? anyone have a better or correct way? Thank you Darlene

"The parents: Are divorced or legally separated under a decree of divorce or separate maintenance, Are separated under a written separation agreement, or Lived apart at all times during the last 6 months of the year, whether or not they are or were married." So this came from the IRS pub 501 - it says OR and this couple maintained different homes in different cities.. and still do - because of schools? So they each could be H/H.. I have never run across this - there has always been a date after June or before .. D

VA may not be taxable to - many WI farm grants and Covid ones are not to the state - I back them out in WI but they are Fed taxed.. and SE tax check State info.. Reservation covid monies are also not taxable

ditto to Catherine - 2 of mine had success calling.. I have them waiting from Feb, March - the one from 2017 - just got hers!! amended in 2018!!

If someone is married - usually in the year of filing - ask if they can still file single or H/H - best situation right! No, that's part of the marriage penalty - losing all those credits - So he comes in and yes he got married in Dec and yes they each have a household - and no they are still living apart! so they have lived apart the last 6 months of the year - I say no MFL or MFS and then I look it up and I don't know - I think they can still each file H/H... Can someone tell me why not? They meet the criteria..

Hi MCB!! What are you teaching? D

went to a tax class that said the IRS wants the retention credit wages to offset wages, soc sec, medicare etc to offset that as well. First negative numbers do not work on ATX at all. second - how can you show negative soc sec third - another article states it is like a grant so it is other income But if IRS is looking for it as adjusted wages - K-1 will not match wages under officer comp and W-2? and wages will not match W-3 nor 940, 941's?? anyone have a better or correct way? Thank you Darlene

one year, finally the shoe box guy who painstakingly sat in the chair and went thru every receipt for me - his wife brought in the 3 ring binder all organized. As we flipped thru to see her work - she said wait! you are going to take out all the documents aren't you? and pulled her folder back and marched out - never to be heard from again..

Thank you The errors were caught in 2019 and now again in 2021 for 2020 What a mess the values used were higher insurance numbers so those have to be adjusted and some were sec 179 and too high! And now the current bookkeeper went back and found more assets not given to me.. And my fault? I said when you give me a correct list, current list - preferably with purchase invoices attached, I will look at it. I am not recreating and checking it! Plus I do not know what you have left? or purchased! Not happy with me - do you want to pay me or do in house? already left once and came back.. Family is hard to work with!! D

Impressive!

so I am filing an amended 2019 return - this is 1 year after filing 2019 taxes - Does this fit the requirement to qualify for 3115 It was filed without a 3115 In 2019 taxes - there were many assets not on the list from prior years and were then added starting with 2019. Most were sec 179 or started as of 1/1/2019. Does this qualify for 3115? to make the additions legit? or to add them to their assets? Correcting as WI Auditor says depreciation already taken in earlier years but they were not. (auditing for Sales Tax) Does need to be amended for 2 duplicate purchases - same price but 2 different names and they have to come off and then sec 179 to have a -0- change. Thx D

thank you!

long time ago - 3 months? but only under the condition the program did nt shut down and he said it was fixed with the update! It was not!! Still shuts down all the time grr

ps = the Brass Tax has an excel sheet but not the $20 booklet anymore..

I read the instructions, searched the Forum for 3115 - I know it is 1, A and E - I need to change depreciation for items purchased in 14-18 to take on an amended return for 2019 - that were never on the prior tax return(s). What is DCN? Part 1 Thank you, D in snow country1

OOPS - the 4 was supposed to be a $$$ $5,000 read before posting! The issue is it takes to much time out of the already overburdened staff We now have about 70 family or 1 person S corps and the payroll, PPP, retention credit, adding retirement programs, etc.. = just conceerned that the company would not put the energy into like joanmcq does! and then we would still have to get involved.. Or we would just offer our own to them for $10??

looking at the TPP - where 1040 client pays $10 to have Tax Protection Plan and if get IRS or state letters/audits - 3rd party takes care of the issues - client can contact direct or I can for them? But the TPP does all the leg work? Any experience using it anyone please? I am unsure what time it would save on simple missing forms, etc but on the bigger 1-3 audits a year on Sch c,F, - that I have to charge up tp 45,000 to arrange their records, receipts - I would see that it would help both myself, office and client..?

really - I did not know 2018 was available to e-file in ATX???