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About Possi

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  1. Possi

    Sec 199A / QBI Heads Up

    It's clear as mud to me. So, single, self employed S-Corp with wages, no other earned income, and with investment income as well, (many of us, I imagine) would have to deduct the standard deduction to come to the conclusion? I never even thought about that.
  2. Possi

    Virginia Efile

    I just called Richmond. The verdict on Sch A (when not itemizing on the federal) is still out. She said you can e-file, BUT they are not processing any tax returns until legislation has been rendered on the outstanding issues.
  3. I'm in Va Beach, and do a lot of VA/NC returns. Last week, VA was still in Gen Assembly deciding whether or not to allow a stand-alone Sch A for the state. Haven't checked to see if NC has allowed itemizing when the standard is taken on the federal. Maybe we should start a leg with state updates. I sure hope they decide soon.
  4. Possi

    Tax Newsletters

    I'm chiming in, but not much help. I put my own newsletter together. Not very entertaining, but it keeps calls to my office at bay. I'm interested in seeing responses.
  5. Possi

    Uptick in Business

    That's great news! I haven't had any new calls yet, but I expect a few.
  6. My client called regarding a letter she received, and the IRS was "closed" due to the government shut-down. I don't think they are doing anything!
  7. Possi

    Raising My Fees

    I raise my prices every year so it's not a huge jump for anyone. What I'm NOT doing is reducing the price when they don't itemize. My prices are already much lower than tax-in-a-box. I do take credit cards, and it has made my life so much easier. It's worth the less-than-3% fee. Well worth it. I use ITransact, which is incorporated into the TaxWise program. One year they jacked me up with added fees and I raised cane about it. No more. I check it every time and the grand total fees remain under 3%. It works perfectly with the program, too. Some of my clients can't pay for tax prep until they get their refunds. For them, I insist on holding a check. My client base is rather large, but I have not been burned by holding checks. My business is personal. There are no strangers here. I know my clients well, and we are all very happy. I got rid of the PITAs by overcharging them. When overcharging didn't work, I sent a "Dear John" letter and washed my hands.
  8. Possi

    scanner recommendation

  9. Possi

    scanner recommendation

    I can only tell you what I have, and that's an HP Officejet Pro 8620. It's a scan/copy/print/fax. I only use it for scanning and (very little) copying. Someone might recommend a better scanner, although I have had no problems with this one.
  10. Possi

    Business Sold

  11. Possi

    Sch C or Sch A?

    I agree. The loan is documented as well as the attempt to collect, by the police report.
  12. Possi

    Well, it's official

    .... and she will HUG YOU.
  13. Possi

    Well, it's official

    I thought we covered this. I am closer to retirement age than you are! I will not be working in 10 years. But for now, I'm still having too much fun to retire.
  14. Possi

    Related party gain or loss?

    Is everything being separated because it was sold to a related party? The sales I have don't detail the land like that. When detailed properly, the software reduces the depreciable building by the land, and upon selling, adds the land back into the basis. ohlordipray