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About RitaB

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  1. RitaB

    not tax

  2. RitaB


    Yes. See my post above. I think we are all in agreement that you can e-file the return within three days of the gates opening in this situation.
  3. RitaB


    https://www.irs.gov/e-file-providers/submitting-the-electronic-return-to-the-irs "Although holding late returns during periods when IRS electronic filing is not available is not stockpiling, providers should mail the returns to the IRS mailing addresses in the form’s instructions." It's not stockpiling, and I would e-file it. I don't think SS will have had time to close out the SSN, but you'll find out. Finally, I don't think this provider is mailing any returns for her clients, and I'm kind of scratching my head at that one.
  4. RitaB

    IRS Confirms Tax Filing Season to Begin January 28

    "The IRS does not consider current filing year returns held prior to the date it accepts transmission of electronic returns stockpiled. EROs must advise taxpayers that it cannot transmit returns to the IRS until the date the IRS accepts transmission of electronic returns." https://www.irs.gov/e-file-providers/submitting-the-electronic-return-to-the-irs
  5. RitaB

    Tax Consultants in Turbotax

    Shoot - if they'd just audit all the self-prepared HOH filers in Crossville, TN, we could expand that "Effects of Leaf Blowers on Lizards Study" to include wooly worms.
  6. RitaB

    What To Do?

    Well, the cow is already out of the barn, right? 2017 was not timely filed. That would bother me some. More issues. Depending on how much I enjoy the client, I'd either: 1) Decline their kind offer to return (eye roll) as there are plenty of tax pros sitting around wanting something to do, and I charge too much. /s or 2) Accept their kind offer to return because I like money as much as the next girl, and really, I'm goofing off quite a bit right now. Seriously, this decision would be strictly based upon how this client treats me and respects my time. That's where I am. If he is contrite and apologetic, I'm forgiving and helpful. If he is unpleasant, uncooperative, wants free handholding, blames me for anything, and I do mean anything, etc., I'm really too busy goofing off for that. As John says I'd just as soon have the time off.
  7. I admit I do some skimming and eye rolling. Bless their hearts. LOL.
  8. I'm guilty of contributing things that, well, don't really contribute much. But, I do think this board is friendlier than most, and it's my favorite because of that. There's not a soul on here I'd ignore. No kidding.
  9. RitaB

    Related party gain or loss?

    Hi, LaVergne, welcome to the Board! Absent more reliable information, I would use the property assessor's ratio at sale time to assign a percentage to land at sale time. It could, and maybe even likely will, be different than the ratio was at the time of purchase. We hope that people we pay to assess property values can be relied upon for the proper ratio of land to total, even if they miss what the parcel is worth to a willing buyer. I totally understand that using the county assessor's ratio may not be ideal, but let's be honest here, my clients are not going to come up with a more accurate allocation. Nor will they hire an expert to do it. They will either throw a dart at it, try to figure out how to manipulate the ratio to their advantage, or worse, try to get me to manipulate it. No thanks, I'll go with the paid county official's opinion at the time of the transaction.
  10. RitaB

    What would you do?

    My kids and I were talking about this Sunday afternoon. Erin is going to make sure our church debt is paid. That was sweet then it went downhill from there because I warned her she has to spread the tithe around to lots of organizations and hide out the rest of her life because - you know - it would be awful with all the moochers coming out of the woodwork. We'd all have to move and change our identities. I don't know why you think I'd freak out Donna...
  11. These are the ones we love. We're thinking "two more days," and they're thinking "five more days, six if she works till midnight Monday." Uh, no.
  12. RitaB

    Land cost percentage

    I use the ratio of land to buildings to assign costs. If the assessor thinks 20% is land, I multiply the purchase price times 20% to get the cost of the land.
  13. RitaB

    Maximum ACA Penalty?

    From: https://www.healthcare.gov/fees/fee-for-not-being-covered/ The 2017 fee for not having health insurance The penalty rises yearly with inflation. For the 2017 plan year, the fee is calculated 2 different ways — as a percentage of your yearly household income, and per person. You’ll pay whichever is higher. Percentage of income 2.5% of yearly household income Maximum: Total yearly premium for the national average price of a Bronze plan sold through the Marketplace Per person per year $695 per adult $347.50 per child under 18 Maximum: $2,085 per household
  14. RitaB

    Salary from a non-profit

    I believe if the rent charged is a flat rate regardless of sales by the tenant, Sch E is correct. Use Form 4835 if the landowner's rent depends on production by the tenant. See p. 2: https://www.irs.gov/pub/irs-pdf/f4835.pdf
  15. RitaB

    Expense or capitalize

    $^%& I knew this one because I just made the election to capitalize an expense on a return a month ago, and you guys beat me to it. And here's a quarter for the swear jar.