Medlin Software, Dennis

Surface pro 8 is my main. When static, I plug it into a big monitor. When mobile, it works fine too. Prob swapping to surface studio when W12 hits. A slightly bigger display when mobile. 

I don’t like tablets unless they are convertible - sans keyboard - as they take up too much space on my desk. I like one specific keyboard layout, not what they use on a laptop. The other brand machines seem less sturdy and the built into surface is a plus. If you get a surface pro you get the good pro security without having to upgrade windows. 

Even given my avatar/photo. That was my dad, at a time when people made and fixed things themselves.  IIRC, he was running a flathead at the time, and once V8's were allowed, he went with an Avanti (just to be different, plus he likely got it cheap from the auto wreckers. My passion for racing is likely stronger than his, but I find it boring today.  Why?  Because no one builds their own, and just buys the same parts and pieces the others have. Back then, the rule sheet was literally about 3/4 of a page, double spaced. I gave it a spin in my "day", but it was all about who bought new tires every meet (or who could cheat - soften - the tires without getting caught), and whose engine builder had enough spec motors to test them, and would give you one of the "good" ones.

The only comparison, at present, to how it was then, is the robot fighting. Each participant has freedom, within certain parameters, to build what they want. It is getting homogenized though, as there are places to buy kits, the motors are all the same, and the designs are trending towards one or two styles.

I am not saying the old days were better, just that there was self responsibility back then, which we have lost as a group of humans.

"I've seen multiple threads on here about declining customer service"

I would shorten it to the above. While we do not offer phone support, I get comments multiple a day when people are shocked we reply almost instantly during business hours, and even on off hours at times.

Truth be shared, it is also a decline in customer skills, given I get multiple messages daily where the only symptom is "help", "I can't", etc. I literally have to pull out details of the issue by asking questions. This is not a case of having no idea what is going on (like telling your mechanic the beating on the passenger inside CV shaft is out), it seems like the expectation is for us to know what they are doing, what they want to do, and how to tell them to do it, in some sort of magic mirror fashion.

The problem is us (humans).

1 hour ago, BulldogTom said:

I was doing a Spidell update seminar yesterday and the presenter said that one of his friends got hit by a cyber attack.   He went to his carrier to file the claim and the first question the carrier asked was for his WISP.   He did not have one and the claim was denied.   This is second hand, but Spidell is pretty reliable source.   Just something to think of...

Tom
Longview, TX

Interesting. They must write in a specific exclusion for not having a valid WISP. Similar to how an auto policy may have an exclusion for speed contests.  Should still cover failing to do what the WISP says, such as via human error.

The coverage is usually thought of as providing for and paying for defense, with remainder for settlement (often credit monitoring) and cash payout (if needed). In my case, I don’t have or keep anything of risk, but I have the coverage mainly for defending claims (anyone can file anything!).

Mine is packaged with my business and E&O insurance. I prefer an all in one, not piecemeal. IIRC, and maybe I don't, the CI was an add on to the business insurance.

1 hour ago, kathyc2 said:

LOL!  Would you have confidence in a restaurant that charges you extra to cover the cost of pumping your stomach in the case you get food poisoning?  

They already do charge for that. And most also have to pay the charge card fee on the tip amount too. 

5 minutes ago, Terry D EA said:

Just something to add to the mix. if the employee takes a different job and has already contributed the max, then he would not be able to make any contributions for the remainder of the year. So, most of the 401 plans that are an employer "match" why would the new employer make any contributions when they should well know the employee cannot? if the employer wanted to do so out of kindness, then it should be pertinenet for them to know how much the previous employer contributed.

Where do any employer regulations require the current employer to ask for data/information from the prior?  And the same, where are there directions/permission/rules allowing any former employer to share data with a different employer?  I have not looked myself... but your post makes it appear you know of such a rule. Assuming the limits are the limits, I suspect it is up to the employee to manage, not the employer (although the employer should be watching they do not exceed any limits on their contributions).

1 minute ago, Max W said:

The client should just file the Turbotax return.  Whatever she paid will be credited to her.   It doesn't matter what is on the return.   I have seen this with a few self-prepared returns where the estimated payment amount on the return was incorrect.  

Makes sense when comparing to employer deposits. Employer deposits get incorrectly tagged all the time, and eventually, it gets corrected on the IRS end.  Sometimes it takes getting a bill, a refund check, then paying again, but it does work out. EFTPS, for example, still asks for break downs for the 941 amounts, but they have never been, and are still not required to be entered. What I hear most is when someone deposits something into 941 instead of 941 (the box selection in EFTPS). If there is a balance owed, the IRS will apply whatever overage or deposits they find, sometimes asking, sometimes not.

Can / will the client log into (create if needed) their online IRS portal and review their information, such as payments?

Without loopholes, where would the tax prep/interp/advice industry be?

The Ohtani (baseball) contract has CA in the news. CA wants to be able to tax the deferred income such as in the Ohtani contract. I guess, at present, Ohtani's representatives were able to stick it to CA (and possibly IRS) with the huge deferral, expected to be paid after he retires and likely changes domicile to a more tax friendly location.

https://www.sfgate.com/sports/article/shohei-ohtani-s-dodgers-deal-prompts-california-18598483.php

Maybe this is a loophole others can use as well, such as nearing or at no need for taxable income, yet not claiming SS at present. Defer income until SS claimed and spread it out a bit if desired. Would likely need to provide some sort of guarantee via insurance or other non taxable means, in case the paying entity disappears.

There is a reason why it is impossible for CA and NY teams to bid the same as other teams with 81 home games (entertainment performances) in a more tax friendly or an income tax free state.

SS WH, for instance, if someone earned enough to go over the limit at one job, then get/have another job in the same year, the second employer MUST still WH SS based on their own YTD for the employee. It is up to the employee to get credit/reimbursed.  Meaning there is nothing an employee can say to employer 2 to have them stop SS WH even if they have gone over the required amount for the year because of other employment.

I suspect retirement is similar in that one employer has no responsibility or ability to monitor any other employer, so in the case of retirement, if the plans allow, the employee can elect to manage their contributions/matches in such a way as to not go over the limit in total. If the employee goes over the limit, it is up to the employee to handle the issue, not the employers. Of course, the employee would be wise to contribute as much as they can if one has more matching funds, or to split it evenly if both have similar matching funds (as a kindness to both employers).

Still not back to calm. Just got a nasty gram from a person signing their name with CPA at the end who went on about a 941b having to show their deposits. Even quoting the text on the form where it is clear it is for liability not deposits, did not seem to change their mind.

I have faint memory of there being some traction towards altering some credits too, so the advice in the article was to consider waiting to file personal (and maybe some business?).  For me, I file on the deadline, for reasons of time, and just in case something changes.

But, I also manage my deposits to I am at or neat the max owed without getting into penalty, so I have no fake incentive for filing early (using withholding as a sort of Christmas Club / forced savings). I even tried, and failed, to share with others how to manage withholding to be less to compensate for the 2023 EV credit rather than loaning the PTB the over withheld amounts. It is just a concept few understand.

Makes sense.  I cannot have my income go to something else, say our daughter's able account to bypass it being my income.

I have those crazy thoughts as I transition to having enough SS wage history to begin to look at lowering wages and increasing non wage income. Likely will be a good old minimum reasonable wage and more dist at some point.

To me, it makes sense to not start until the first working day of Feb.  Why?  Because they, stated or not (I cannot remember) are checking against W2 data, which is not required to be submitted until the end of Jan.  NMore time for reliability and common sense accuracy of their efile process cannot be a bad thing at all.

IIRC, 1099 filing is not yet available either, so that is another barrier to personal filing (and will be more of a barrier next year).

I am suspect of any late ERC claims.  Why?  The availability was "all over" the news at the time. Any employer who failed to claim is derelict in duty.  Any corp should be replacing those who failed to represent the corp properly, failed their fiduciary duty.

With the above said, some slip through who are genuine folks.  But, the caveat is most of the late claims are third party claims, where the employer has granted some percentage of the credit to the third party, without pondering, for one second, the cost of amending other items too, and how little they will get, or maybe even nothing, or owe, for thee late contingency claims.  That is assuming the third party type claim is even legit - meaning the emplyoer really had eligible amounts to claim, which can be suspect in certain cases.

There is always an amount of money which makes any task "easy" to do.  Whether or not this prospect will pay it is the question.

Employee copies can be printed on plain paper too, if software is capable. As long as the required data and information is provided, the format is unrestricted. 

Tom is expert all things FTB!

3 hours ago, BulldogTom said:

The accountant in me rebels at that statement.   I have always lived by the motto "keep track of the pennies and the dollars will follow".   I think it shows professionalism that your reconciliations tie out, to the penny.  When I see recons that are close, but not exact, I question whether the accounting person is competent.   Just like spelling and grammar errors on a resume, it says something.

However, I do know when to throw in the towel and just write it off to Misc Expense when the amount in question is small and I can't identify the reason for the variance.

Tom
Longview, TX

I have a well work list of my search for mistakes process.  But I do not go beyond that for pennies (or depending on the client, some amount, usually $100).  They do not appreciate paying for my time to find pennies. The majority of the time, it was not an entry error, it was an error with the client's records, such as a check record.

We all live with such "close" enough. IRS has been doing it for a long time (rounding withholding, rounding on tax returns). No refund/collection unless asked of the 941 (and likely others) were not more than $1. I am sure there are more, not just the new announcement.

2 hours ago, BulldogTom said:

Every morning when I wake up, I thank God that I did not wake up in California.

I do, and I am thankful. Our home, via circumstances out of our control, has for 30 years appreciated just under 2k per month, and will likely continue. While we would likely be able to find a different place to domicile, it is tough to give up the appreciation.

Most likely because the counters decided those numbers were at or below their break even point for investigation. No matter the reason, it is good. My first accounting class had a story of a perfectionist who spent a long time finding a penny error, and their pride led to their firing. For me, I took that to heart and when I was counting for others, came up with a threahold which I would not investigate beyond a few minutes of hunting the obvious. Over time, the “adjustments” usually washed. 

UGH.  One of our kids is dealing with a break in/theft, and the person who they can prove did it, is related to a muckety muck in their local law enforcement. We have given them our suggestion (ask the DA who their mutual aid agency is, which should be compelled to investigate), and get their landlord and renters insurance folks involved. Calm is over...