Randall

On 7/20/2021 at 2:14 PM, Abby Normal said:

Intuit is the one company I hate more than micro$oft.

I don't know.  I hated Apple from the beginning.  They stole they're name from The Beatles.

Are you talking about 2020 or 2021?  As someone said, amend 2020.  Or for 2021, just pay a one time estimated payment.  Why not paper 1040-ES with a check?

This makes sense to me.  I never understood the June & September dates.

44 minutes ago, ILLMAS said:

And yet people think the actor Rebel Wilson is funny   As far as I know Venmo and other cash apps are untraceable and like bitcoins, give it some time and the IRS would get to it. 

I was more interested in what the person using Venmo could get in reports.  A summary of transactions, any classification of type?  In other words, at the end of the year (month), who sent me money (name, amount, date, etc?), who did I send money to?

On 6/3/2021 at 3:22 PM, ILLMAS said:

Youtube the following video made by a CPA:  The Problem With Venmo And Your Taxes

I couldn't last thru this 'acting' thing.  But I get the point.  I was wondering what kind of record reporting you could get from Venmo.

Thanks for all the comments.  I'm not sure now either.  Do you have to have 'Friends'?  I have the Square card but never used it except at first as a test, sending money to myself.  I have so few who ask about credit cards, it would take me a half hour to figure out how to do it.  I'll look into the going into my account and emailing an invoice.  That sounds much easier.  My practice is fairly small and for now, I just take checks and cash.  But I did have a couple of clients this year ask about Venmo.

Anyone using Venmo?  Any general comments on how it works, ease of use, safety, etc?

Hopefully, they'll be sending 1099-Gs at the end of the year.  Clients aren't going to remember any of this at the end of they year.

Something similar to me.  But I hadn't efiled it yet.  The fed exclusion was already there.  I added it back to Ky when they made their decision.  But ATX had not yet updated for Ky.  When I went to efile, I had to recreate the efile because it was several days.  I opened the return and ATX had updated for KY and added UI back to Ky so I  had it added twice.  I saw the increased amount owed and found the reason.  I had to delete my original add back and all was well.  Like Abby, I make pdf copies for my file so I'll have a record of what I did.  I also don't have to open the program up to look at someone's return later when a question comes up.

On 4/24/2021 at 1:01 PM, Possi said:

Government crippling itself

I agree.

1 hour ago, jasdlm said:

I'm trying to figure out if I have some sort of configuration error or what could be going on.  I've used ATX since 2002.  I had problems in 2013 (we all did) and now this year.  I have a brand new Windows machine (set up by my tech people last fall), and I'm running ATX on my local server.  I have 8 licenses (I'm the only preparer, but I have people who do data entry, checking, etc.).  I'm restarting multiple times/day, closing the software often, and trying to minimize other uses of the computer (let's face it, sometimes one has to be in QB and ATX at the same time), and I'm struggling with the time suck.  When I restart, for example, it takes several minutes to open and then to populate the Return Manager and Rollover Manager screens.  SEVERAL minutes.  Grrr.  I have special tech talents.

I'm sorry.  I have a new computer but I'm a stand alone.  So I don't have as much going on.

I don't know why this person is having so many problems.  There must be something unique going on.  Like others, I haven't had this problem.  Only once in a while with large print jobs.  But nothing like previous years.  The software is a little slow but I think that's because it is a spreadsheet based program or that's what I've heard.

I'm probably a few years away.  How are you looking for a buyer?  I receive the mailings about this.  But I'm not looking for a bundle.  And I know my fees have been much lower than most people.  I was thinking of someone close, not big.  Maybe someone going out on their own.

I can leave the form in my client return.  The red comments in ATX came up.  But when I deleted items in columns A and B, the advance premium amounts remain in column F, totals on lines 25 & 27, but puts zero in line 29.  Then when I create the efile, Form 8962 does not show up in Forms efiled.  So it stays in the return in my ATX (presumably to be rolled over next year) but does not get sent with the efiled current return.

And what about this Venmo?  Anyone using it?  A couple of clients have asked if they could pay me with Venmo.

Thanks.  I guess I was getting the ES April 15 date mixed in.  With all the new stuff, it seemed there were differences in the extension date.  I assumed ATX was on top of it.

ATX updated the client  letter to say that IRA contributions must be made by May 17.  I thought the due date remained April 15 for IRA contributions.

5 hours ago, jklcpa said:

I guess they feel I'm a good listener and am nonjudgmental, and my home office may also allow them to relax and feel more comfortable compared to a more formal office setting.

After a while, they open up to us.  The good things, babies, kids growing up, going to college, grandchildren.  And the bad things too, divorce, drugs, death.

15 minutes ago, Randall said:

ATX just had a Form update and included 8962.  At the top of the Form, it says line 29 will be set to zero but it did not reset my client amount on line 29 to zero.  I think I still need to discard the Form 8962 and show zero to be paid back.  Anyone think so?

 

I take that back.  After closing the app and going back in, line 29 was reset to zero.  Does this mean we go ahead and include the Form or do we still discard it?

Sometimes maybe a spouse.  But over the years, I've met most of the spouses too.

ATX just had a Form update and included 8962.  At the top of the Form, it says line 29 will be set to zero but it did not reset my client amount on line 29 to zero.  I think I still need to discard the Form 8962 and show zero to be paid back.  Anyone think so?

It went thru this morning.

4 hours ago, jklcpa said:

Same as Lee. I've maybe seen one 966 in my entire career. Most lawyers around here advise to not even notify the Sec of State but to just not pay the franchise tax and the corp will go into inactive/certificate not in good standing, and after 3 years of that status it drops off the state's record.

I do this as well.  But I do advise the client to contact the Ky Sec of State.  I think it's a simple form to officially close the corp.

10 hours ago, Margaret CPA in OH said:

Ragnar Lothbrook is on his way.  I am SOOOO happy to see another Vikings fan!  My husband thinks I am a bit nuts but I loved that series.  I just might have to have another go at it.  Once I get the staples out, papers out of envelopes, all in order, etc.

Ha.  I think I still have to watch the last season.  I get them on DVD.  I've watched it thru several times.  I shouldn't admit this in public.

Ragnar Lothbrook is on his way.  My long hours end April 15 too.  I'll do what I can on slow time to May 17, then extensions after that.  Ky has conformed to May 17 but only some of the locals have conformed.  So now I have to determine who has to file certain local business returns by April 15 and get those extensions ready and with a payment of some amount.