
Dave T
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State
NY
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Gender
Male
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Interests
Running,bicycling, rollerblading.<br />Spending time with my 3 boys.<br />Studying the Bible
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Hi Christian I have the same issue. I looked at my credit card statement last night and there were two charges from ATX. One I know about and that was due to having to purchase an extra state. ( I use the 1040 pkg. which allows for 3 ). At any rate, there was another charge which I cannot identify and I too called the A/R department only to get the same message, " we will get back to you in 48 to 72 hours"
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I live in Rochester NY. No snow but cold and damp. My nephew says the late arrival of spring is a supply chain issue.
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Yes, in 2022 for 2021 and I was thinking the same thing.
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Self Employed t/p hasn't yet filed for 2021 but when calculating her self employment income, I realize her SEP contribution exceeds amount allowed. Her financial advisor had given her the maximum you can contribute but apparently didn't mention that amount is limited to 25% of s/e income. At any rate, is there anything she can do to avoid penalty for 2021? I've never encountered this before. Thank you.
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Also, if the student is under 24 years old they wouldn't get the refundable credit component I believe.
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T/P moved from PA to MO is first week of 2021. He as one week of pay in PA as well as a 1099G from them for approx. $2K in unemployment presumably for 2020. Not sure how to file for him? Does PA have partial year resident or non-resident similar to NY? Thanks very much
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Yes the NY SDI and PFL flow to Schedule A
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Good points Lion and cbslee, No his only client is his former employer. So based on this then, no QBI but obviously S/E? And then, if not QBI does the income need to be reported on Sch C or just as other income?
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Yes, would agree with the fact that he has now has another full time job. In addition he is beyond the 3 year period and has just maintained the relationship with the former employer in a highly technical field Also, in the first few years after leaving he continued to consult and received a w-2. This is the first year of receiving a 1099.
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I think there may have been a thread on this awhile ago but not sure. T/P has full time job but also does consulting work for former employer. Former employer gives him a 1099-NEC which I know of course in subject to S/E tax but the question is does this go on Sch. C and qualify for QBI ? Thanks
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I had given her the estimated vouchers for 2021 and when meeting with her the other day I asked about her estimated payments and her answer was I didn't make any. Oh well what can you do. We can just suggest.
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Unfortunately no refund to apply from 2020. She has large amount of self employment in 2021 and thus facing a fairly large tax bill.
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It may be a moot point but just wanted to double check. T/P took $40K IRA distribution due to covid in 2020 and elected three year payback. 1099R showed $4K federal tax withheld which i included on 2020 return. Now, doing 2021 return she owes significantly more due to no tax withheld. I obviously should have checked this last year but could the withheld amount be spread over the three years as well? Thank you.
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Long time client moved out of state in 2020, bought a house and just texted me to tell me they are using that house as an Airbnb. I have had clients with rental property before but never something like this. How is depreciation calculated since it is their personal residence as well as rented? I know there are other expenses a well but not sure about this component. Thank you