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Medlin Software

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About Medlin Software

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    ATXaholics Anonymous

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    http://www.medlin.com
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    CA
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    Male

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  1. Ugh, but these situations provide for lifetime income opportunities...
  2. A few years ago, for tracking reasons, as well as sanity, I require all customer contact to be in written form. I do not want to get into any more conflicts over who said what and who heard what, with written being much more efficient for me (I can reply anytime, not just office hours). I can also offload the easier replies on nearly any family member... Something to be said (thank you to my wife for the impetus!) to using the no phone calls as a gatekeeping method. Yes, a very small number complain and ask for phone calls, but I have a pre written reply about how it is not fair to all
  3. Starting with Q2 2020, a 941 can easily have different figures than paycheck reports. FFCRA, ERC, SS deferral are examples. I had a similar issue yesterday. Someone complained their deposit record for first payroll of the year was too much, because, retroactively, they had a "non refundable" credit which should have applied. Their position also matches the completely goofy IRS instructions. Problem is, they are a semiweekly depositor, and they had to make their first deposit weeks before the nest payroll, when they "earned" the credit. It all comes out "in the wash" at EOQ, no penalt
  4. No such thing as an accounting emergency. As long as no one is being penalized, you are right on time. IMO, proper tax accounting has all tax payers having deposited within a few hundred dollars of their liability (not in a penalty scenario for those who choose to have a balance due) so there is not even a financial reason (large refund) for rushing. Ever more so this year as the game changed during the filing period.
  5. Starting to see this amount hit bank accounts. I have not yet seen any reference as to how it may affect 2021 taxable income. Might be something to keep a note of for those with CA clients. https://www.ftb.ca.gov/about-ftb/newsroom/golden-state-stimulus/index.html
  6. I did not notice any such exclusion set for 2021, did I miss it? Working with someone to finish 2020, and to make plans for 2021 (likely legit on UI through Sept 2021).
  7. ABLE accounts are another good tool for savings without causing means test issues. I am glad to hear about a trust, as it is also likely they setup end of life scenarios. Have to be careful not to cause means test issues if appropriate...
  8. SSI may make then non dependents, especially if receiving AAP or other cash aid. Personally, SSI application (and keep at it until approved) now, before age 18, is paramount. Opens doors. If receiving SSI, plan for and calculate switching to SSDI when eligible (for the kids' sake, do not take SS retirement before the benefit amount the kids will use for SSDI is maxed).
  9. Some possibilities: Adoption assistance (AAP), IHSS, State sponsored aid (CA has programs to cover medical items not covered elsewhere, for example), succession issues (special needs trusts, etc.). Not so much as to alter tax prep in strange ways, but understanding the items which do not affect tax prep in case the client gives you items which can be ignored.
  10. It has been a decade since we last had official foster kids, so ymmv. Back then, the amount of funding simply was not enough to be more than 1/2 of the support (iow, we spent more than the basic rate, out of pocket, especially for short term placements - getting clothes, toys, hair cuts, etc.). The amount was not countable income for the foster parents, unless it was an actual business (such as a group home). The two caveats: Certain placements can come with additional funding (over the basic state rate), which could be enough to make 1/2 support come into play, if it counts. Usually c
  11. Best to you and yours Judy! I may just let one go myself. Another result of how the manipulation of withholding starting with 2020 has someone blaming me for the employee not having enough withheld... An employee who was claiming M/0 prior to 2020 wanted to add 250 in FWH, and submitted a new W4. The FWH only went up ~130 because of the new W4 (the new W4 is similar to M/3 the "old" way). My customer is furious, and cannot understand why "I" have altered the withholding incorrectly. I have tried rewording the situation via several messages this morning, but I am out of ideas and pati
  12. Daily question for me. If the person has no experience or training, they should use a service, not self prepare. In time, payroll is absolutely something which can be self learned, with responsible research, and a year or more of "history" to compare to. Very similar to preparing one's own taxes
  13. My advice would be to treat as a business in all aspects. Representation, insurance, succession (no sale without permission of others, buy out, set price, etc.), personal protection (corporate veil?), etc. Sibs will be happy receiving checks, but not if something comes up requiring defense, or if one or more wants out. In my case, there are three sibs (not me) who will inherit, and the current thought is to keep and rent. There is management in place. Problem is, the three sibs are in much different financial places in their lives, and common sense says the one in a tougher position w
  14. Personally, the issue is moot, as the business owner, should they be receptive to common sense advice, would have some sort of cooperation or other entity for liability reasons, especially with the mini golf aspect.
  15. The important thing is to not click on links in emails, unless you are certain it is legitimate. For me, even for legitimate emails, I still manually open the web site and navigate to what I need. In many/most email readers, you can set up the incoming messages to be shown only in text (not html), which makes it tougher to click something bad in the message (also prevents the tracking gif's from working). Something to also consider when sending emails, even if a link seems appropriate to send, provide plain text instructions on how to navigate manually. Added: Sending in plain tex
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