taxtrio

My internet provider is Comcast. Comcast recently sent me an offer to use Square for Credit Cards and I will get credit for the first 1,000.00 in transactions. I rarely use my credit card machine, the 1,000.00 in transactions would probably cover Jan thru April quite easily for me. Currently I am signed up with Cocard thru NATP.. special rate. Minimum monthly charge of 5.00. (which I can pay only seasonally if I choose). But there are always extra fees... 25 cents per transaction, and the state percentage that I get charged as a merchant fee always fluctuates because I get charged extra for rewards cards. So I never know exactly what it is costing me until the statement comes in. That is why I discourage credit/debit cards unless that is the only way I can get paid. The 2.75% that square charges is higher than I usually pay with Cocard. But if they are going to give me the first 1,000.00 in transactions free for the first 180 days-- I will take it! I do have a smart phone and tablet so using their device should be fine. My only question is the receipt has to be emailed to them, right? No way to print it? I have some older clients that don't have email. I can just note on my Invoice that they have paid by credit/ debit card..... that would be sufficient for them... Taxtrio

Best Speeding Excuse Ever! When asked by a young patrol office, "Do you know you were speeding?" The 83 year old woman gave the young officer an ear-to-ear smile and stated: "Yes, but .... I had to get there before I forgot where I was going." The officer put his ticket book away and bid her good day!

When I opened my tax office the IRS issued me two EIN's... one in the name of my LLC (Sole Prop) , and one in my personal name (which I have and have never used)... go figure!

I believe the question has to do with the taxability of the social security benefits received. If filing MFS and lived with spouse then social security is automatically taxable (at maximum percentage) If did not live together during the year then only under usual rules.

So, so true!

I also used about half the paper I did last year. Drake just worked as it should, easily with no hassles. So much nicer to get home by 7pm instead of midnight like last year with ATX! Pam Taxtrio

I am thankful.... for my husband being better, and thankful it is April 16th and I can slow down the pace.... my brain is mush today, but will be back at it tomorrow. I had a great year with Drake, no stress, it just worked! Love all the extra feature... I missed ATX in the beginning but now that I am used to Drake I am able to prepare returns very quickly and easily. I am glad I switched but I still keep up with the ATXer's on the board. Nice to have friends in the business that understand! Thanks for all the prayers, Pam Taxtrio

Thanks! My husband is 86 years old and had a stroke 11 years ago. We have been married 43 years and he has been with me thru over 35 tax season's. He has been basically in his Hoveround now for the last 4 years, and now his heart started acting up! (not a heart attack, but Congestive heart failure with afib) Always something new each year. We just take life a day at a time these days... Be glad to spend more time with him later next week. Pam

Running on adrenalin! "Zausted" I like that... Had to take my husband to ER Monday nite... slept in hospital everynight until I got him home Thursday. My family and friends are playing tag team with me taking care of him at home. Ah, April, What fun! He kept saying as he was having shortness of breath: That's, Ok, don't worry about me, I can wait till after the 15th. I told him "get in the car". Got his heart settled down... but many Dr appts to come rest of the month. Ugh... Taxtrio Pam

If you attach brokers stmt as PDF then you don't have to mail in the brokers statement with the 8453.

Do you mean 8453? The 8453 is a "cover" page for sending documentation to IRS by mail. You can also attach a PDF copy of the brokers statement (if it is complete and in a proper format) and put the totals on 8949's. This year the Sch D has line 1a and 8a to put the totals for "covered" transactions report to IRS, (short and long term respectfully). That is working great for me this year.. covered transactions are easy. Just have to input the non-covered transactions on the 8949's this year. Read instructions for Sch D and 8949 for details. Taxtrio

It is so nice! Drake updates are no problem! No worries! Drake just works...like it is supposed to! The more I use Drake the more I love it. I love the features, the built in email, the planner, the estimates are easy to program. And I have used about half of the paper this year, last year with ATX I wasted paper, time, and stress level was very, very high. Now I just concentrate on my clients and their taxes. Nice! Nice! Nice! I am glad ATX is somewhat better this year but they still have trouble with their updates as is shown today. My sympathies to you ATXer's. Hope is gets better soon. Taxtrio

Wow! This has become a lively discussion...

Young people are very uniformed about taxes. They can be very gullible... which is what I believe is the case here. He just gave her his W-2's and he said she did not ask him any questions... she just did the return and withheld the fee from his refund (and he did not sign the consent forms for that either). The direct deposit account information on the return is not his... maybe it is her bank.... or her's .... we don't know.

Yes, he got letters for all three years. 2010, 2011, and 2012 and he is on a payment plan with IRS to pay it back. taxtrio

I will only report what I know about the returns I saw and the information from my client. I had him sign a consent document to allow me to share this information with IRS. CYA

I have a new client. Young man 23 years old. His "Buddy" told him a couple of years ago: "You should come with me to my tax preparer to have your taxes done, she gets you a big refund". So He and his buddy and two other friends go to downtown Detroit and get their taxes done for 2010, and the next January he gets a postcard from the preparer with a new address and new phone #. All four of them go again and get their 2011 returns done(large refund again). Next January another postcard with another new phone # and new address. All four of them go yet again and get 2012 returns done (large refunds). She w/h her fee from their returns each time. Charged them 100.00 extra for efiling each time. Last Summer all four guys get the same 3 letters over the course of 3 days from the IRS... (and eventually Michigan also). This guy calls the IRS and asks what's wrong? They say the college has not reported any tuition on a 1098T so the American Opp Credit of 2,500.00 each year has been disallowed and they want it back; plus int and penalty of course. Funny, no postcard this January from the Preparer with new phone # and address! Many of his family are clients of mine. His parents said "call the IRS and put yourself on a payment plan, and call Pam" They learn the hard way! How stupid of this preparer! She had to know that they would get caught... I am sure IRS has figured out what she has been doing. But I am going to report her to the IRS anyway. First time I have ever done it, but this time I have to. Oh, and I believe charge for efile is also not allowed. She signed return, with her PTIN and Efin # and Company name all on return. I googled her name... came up in IRS PTIN data base with yet another address in Detroit Listed for her and her company... Ugh!

Headline Detroit: Tax Office shooting over refund check not being ready. Client (woman) came back to office with a couple of "friends" Then the argument started and pushing and shoving and one of her "friends" pulled out a gun an shot a couple of people in the office including the security guard! Security Guard in a tax office?? Glad I don't work in Detroit!

Snow Fatigue!

I have come up with this solution to this reject problem. I efile return, but I give them a printed copy ready for them to mail if the reject happens. To paper file a return you have to attach the explanation of not efiling to return... I already know what the reject code is for this one... so I prepare it and attach it to the return to be mailed (if necessary). I use this method when I know I can rely on the client to follow my instructions and NOT mail the return unless I call them and tell them to! I have them sign it, and it is ready to mail--- if needed. Then I am basically done.... and the client does not have to come back to the office again. One client asked me just to keep the return and mail it for them if needed.... but it is not my "policy" to mail returns for the client. Too much chance for a problem there... if it doesn't get to the IRS... then client holds me liable, might accuse me of not mailing for them.

No problems with Drake efile, or anything else! Everything works quickly and easily. I don't have to even think about my software anymore. I click on the Drake icon and go! It does what is supposed to, everytime.

I tell them I could add it in and then deduct it out and the answer would remain the same ... except for the extra fee I would charge them to do it. It sounds like the gal I had a few days ago that is a speech therapist, (1099MISC). She says she gets 60 percent of money earned in clinic; the clinic gets the 40 percent for their expenses. But the HR person told her she allowed to claim 5 % of the 40% that she doesn't get for "rent" because 5% of the part they keep is her rent and to use it as an expense! Not in the 1099, so no deduction!!

Good one Lion!

Like ATXaholics Annonymous.. I too have a "paper" trail that centers around the signature pages. But I work alone... I need to spend time preparing returns and interacting with the clients. My question is do you an assistant that does all that for you? Or do you take time away from preparing returns to do all the notes and posting? Yes your paper trail system works, but how much time do you spend doing it? I could not keep up with it anymore.. and I am frustrated that ATX gave us a "crumb" of an enhancement with the efile status at the bottom of the the Return Manager. That only works if you highlight each client individually. I gave up and went with Drake this year. Much easier to keep track.