Abby Normal

Disk images are your friend. You should set up a task to image your disk every night, and keep as many images as you can store.

When all else fails, just type whatever you want in the letter. Just don't save it for all future returns.

Using those input forms is very inefficient. Just put it where you know it goes. The only 1099 input forms you need to use are INT, DIV, B, and R.

15 minutes ago, JJStephens said:

I haven't found a way to have the software supply the signature.

You could always sign them after the IRS contacts you, which after your clean audit, they probably won't ever audit you again.

On 4/23/2021 at 9:49 AM, MarlonH said:

I've run into this a number of times when trying to open prior years' programs.  Rebooting helps sometimes but not always.

I did have this happen once with this year's program a few weeks ago.  Rebooting didn't help.  I ended up doing a system restore, and that resolved the problem.  I believe an anti-virus (not anti-virus itself, but related security; I use Norton) software update was the culprit, but I'm not sure.

I hope this helps.

Yeah, I wouldn't let any Norton products anywhere near my computers. I tried a few about 20 years ago and had to uninstall all of them.

I won't take on a corporation without complete balanced books. If they won't do it right, then we have to enter everything into QuickBooks and bill them for it. Going forward, I try to convert them to a quarterly bookkeeping client.

I don't get a lot of photos of documents but almost all of the time, the photos are good enough. Sometimes they're too big, but I have batch resize tools. I can also select a bunch of jpegs, and combine/convert them into one PDF.

I guess my clients are good at taking photos, and don't use iPhones. Apple is famous for resizing your photos and videos to save themselves on data transmission costs. We get postage stamp sized videos from one family of their kids because they all use iPhones.

1 hour ago, cbslee said:

Gosh, I have always signed it when I prepared the return, am I in deep doo doo

I've never signed one in 25 years. I just have ATX 'electronically sign' it for me. I've also never had the IRS ask for my 8879s.

3 hours ago, kathyc2 said:

Personally, I'd be leery of scanning software that's from an unknown company.  Who's to say they aren't capturing the info on the forms they are scanning?

I'm just as leery of the known companies.

Fortunately, you can get you IP PIN online.

https://www.irs.gov/identity-theft-fraud-scams/retrieve-your-ip-pin

Also, would the post office forward it if you did a change of address with them? And I think the post office sends change of address info to the IRS.

19 minutes ago, Medlin Software, Dennis said:

They noticed the increased net and spent it.  Employees always question a penny less than expected, and rarely question increased net until tax time.

In any case, the employer will eventually get dunned for their part of any underpayment and the employee is responsible for their underpayment (even if employer error or omission).  If the person likes their job, file and pay and let the irs deal with the employer. 

Exactly this. No way they can tell me they didn't notice the sudden increase in their take home pay.

On 3/30/2023 at 6:18 PM, DANRVAN said:

That does not sound the correct, I believe it should off set passive income, not ordinary income.

Ordinary income can be either active or passive, depending on the circumstances.

3 hours ago, Randall said:

What is a Google voice number?  I suppose you have to pay for it.  I have a Google email address in addition to my regular email address.  Does the voice (texts) come thru on your regualr Google account?  Or do you have to set up a different account?

 

It's totally free and has been for decades. If you have a google account/Gmail address, adding a voice number is easy. I have two voice numbers, one work and one personal. My SO has one for her cell as well. We give it out to people we don't want having our real cell #.

1 hour ago, BTS said:

We have a landline with the same number since 1980,  while a Google number seems like a viable option for offices with no landline, I do not relish the idea of Google storing client texts and such.     15 more days people !!!!!   Who am I kidding, damn extensions !!!   

You can delete the texts if they contain sensitive info. It's no less insecure than a text to your cellphone. And having a landline has nothing to do with it. It's just an alias for your cellphone, but you don't have to link the Voice number to your cellphone.

One nice advantage is that everyone in the office has the same cell number and everyone can see all the texts and voice messages in one convenient place.

11 minutes ago, BTS said:

RitaB !!!  Dont give clients your cell number !!!      We have clients always asking for our cell numbers.  But lordy, if we did we would get bombarded with texts and calls.  Especially the pain in the arse ones.  We just kindly tell them, "sorry our cell numbers are for friends and family only", please use the office phone or email any questions.

Get a google voice number and give that out as your cell. Then when you get a text, it's already on your computer and you can print the text to a PDF for your records. And set Google Voice to just take messages in case your clients ever call your "cell."

It's on the Open Return tab of Preferences, and it's about halfway down. It's called Display Tax Research Tool Tips. Uncheck that bad boy.

K1 always goes to the beneficiary. Payments of nondeductible expenses are considered distributions to the beneficiary.

But if you have a loss, there will be no numbers on the K1.

Well, you can elect to treat them all as one rental activity (aggregate), but if I recall correctly, there are some negatives if you sell one property at a loss. Also, I think you still have to report each rental separately, but the aggregation has benefits of meeting the active rental rules.

https://www.journalofaccountancy.com/issues/2014/aug/rental-taxes-20149906.html

https://www.journalofaccountancy.com/issues/2000/jul/aggregatingyourrentalactivitybesuretotelltheirs.html

I sent a priority envelop to Virginia from Maryland yesterday afternoon around 4, and it arrived this morning in VA.

I have a lot more great stories about the post office, than I do bad stories. I prefer the post office to any of the other shippers by a lot.

Sounds like the trusts are partners in a partnership. The trust should file a return reporting the K1 income on a 1041. then issue a K1 to the beneficiary. but you'll need a full accounting of the trust's income, expenses and distributions.

On 3/25/2023 at 3:54 PM, artp said:

Tax-exempt accrued interest paid 577.78

Tax-exempt OID 58.97

Tax-exempt OID (lots not reported) 1793.03

Acquisition premium (lots not covered) 103.51

Combine accrued interest and acquisition premium into one number and use the adjustment code Other. These both reduce interest income.

Combine the OID amounts and enter as separate tax exempt interest 1099.

Things like this are why we always pay for priority mail. It's a nice sturdy cardboard envelope that documents can lay flat in and you get a tracking number.

Of course the real solution is for clients to keep their records and just give you PDFs through secure means or copies by mail or delivery.

That would be nice, but you have to handle this somewhat manually by reporting the income in both states, then taking the credit for taxes paid to the nonresident state.

23 hours ago, schirallicpa said:

Nothing shows up in the task manager other than ATX so I don't know if there is other crap running or not.

The first time you start Task Manager it's in 'Fewer details' mode. Click on the link at the bottom that says "More details,' if you haven't already.

Also, Services is the best place to change tasks from automatically starting to manual starting.

34 minutes ago, schirallicpa said:

yes - i understand what the error is.  I was not sure what the binary attachment for ACA explanation meant

 

Any file is 'binary' because computers are all 1's and 0's. Just type a note, print it to PDF and attach it.