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Richcpaman

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About Richcpaman

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    ATXaholics Anonymous

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    MD

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  1. Richcpaman

    Printing New Form 1040

    I don't ever print 1040-EZ, why would I ever print the "postcard"?
  2. Richcpaman

    Vehicle Donation of $5k+

    So, If a Donor says this $5,000 can only be used to buy food for the hungry... The donor doesn't get a deduction? I do not think that is how it works. There are ALL sorts of donor restrictions placed on contributions. I have had major donors ask for their money back when the organization decided NOT to pursue what the donation was for... We want to do project X, we need $100k to do it, but we only raise $35k, so they do not pursue the project, so they have to return the money. Donor restrictions do not preclude a donation deduction. "Some" donor restrictions CAN limit deductibility. That is not the case here. The client donated a car to a charity that needed some repair work. They paid for the repair work. I like Pacun's suggestion to have written a check to the NPOrg for the amount of the repairs. The NPOrg, if using the vehicle for its charitable purposes, (whatever they are), then a 1098-C is not required to be issued. The 1098-C is issued by the NPOrg when they receive a vehicle and then sell it and use the proceeds to fund what they are doing. So, the client could have donated a delivery Van to a NPOrg that delivers food to the hungry. Rich
  3. Richcpaman

    IRS FRINGE BENEFIT UPDATE

    For my son's 21st birthday, we went to Las Vegas.... with a group of 5 cars, we drove as fast as we could go across the desert..., A Ferrari, Lambo, Audi A8 and Jag. Swweeeetttt!
  4. Richcpaman

    Proof of 1099-MISC payments

    What? You say the auditor is requiring your client to prove that the people he paid cash to reported it on their returns? Did your client file 1099's on these folks? Were they complete? The Auditor can ask you for the moon. It is not you or your clients' responsibility to find out if they reported that income or not. Tell the agent to follow up back at the office and to track down the other vendors Rich
  5. Richcpaman

    Salary from a non-profit

    Should go to Form 4835 then.... The 1099 from the non profit seems "normal" if she was the only one paid. Pretty easy to check the status of the NP on Guidestar or Charity Navigator to see how big they are/busy. And attorney getting a K-1 from the partnership is pretty typical as well. She might be a bad "DIY"er, but otherwise, what are your concerns? We clean up messes all the time. And then she might start referring folks to you that need tax help. Rich
  6. Richcpaman

    client termination letters - send Priority or Certified?

    We are under no legal obligation to continue providing tax return services in future years. If you don't want to prepare a tax return next year, don't send them a organizer, don't send them a appointment and do not accept an appointment if they call. Yes, it is polite to send them a letter saying to "get lost". But really, email, USPS, Priority, Certified or even smoke signals.... It is a courtesy you are extending to them. They do not contact US to tell US that they won't be back, right? (Well, except to get free copies of prior years returns so they can give them to the new person...) The letter I would send, would state that next years fee is going to last years fee plus an increase of 1.xx more. They can make a decision after that. Rich
  7. Richcpaman

    NT It has been real!!!

    Ron: Good luck and fair seas, my friend! Rich
  8. Maryland is talking out of both sides of its mouth. On one side, it is suing the Feds because they have "disadvantaged" Maryland. On the other, when they clearly KNEW what the tax revenue windfall was going to be in 2018 (600 million plus) and proposed a law to reduce this bonanza, they pass a bill that raised the deduction amount by $500...... Or reduced the $600m to about $550m. Hypocrites.
  9. Richcpaman

    Over 35 years in this industry.....

    The IRS letter systems are out of control.... Rich
  10. Richcpaman

    June 23 Get Together / Shameless Plug

    This is our family at the local 4H park in 2011. If Kim, my son Colin and I could be there, we would, I will be in Toronto... Have fun everyone! Post pictures!
  11. Richcpaman

    H&R Block Plans to Close 400 Tax Prep Offices

    How many offices does HRB have? Do you think they net more from company owned stores than the franchisee stores? Makes sense for them to cut back. The new tax law is going to attack many of their customers. Me? Not so much. I have few customers like that. But. The big firms are going to muscle in a shrinking pool. THAT is what we have to be careful of. This from Black Bart^^^ No yet... so I gotta work still. Rich
  12. Richcpaman

    TCJA Tax Deferral Vehicle

    Interesting.... Now I know why Ford has bought the old Michigan Central Terminal in Detroit. Rich
  13. Richcpaman

    advice on $15 payment for $848 bill?!

    Lose the check. Send it to the great big shredder in the sky. Send her a statement for the fee. When she says I paid you what you are owed, $15.00, tell her "what check?" There was no check in there." Have her come back and GIVE YOU another $15 check. She won't but her claim of "paid in Full" is void... Have some fun with it. You are NOT going to get paid. So have some fun. Rich
  14. Richcpaman

    ATX Client Portal

    Can some expand on the use of the ATX-CCH Client Portal? And the E-Signature? How and why, and how much... Rich
  15. Richcpaman

    1031 exchange question

    You extend the return on the year of sale (2016) Then prepare the return with the 6252 included now that the transaction has closed. If you did not do it with the 2016 return, you have to amend and include it, along with P&I for the client. Sorry. Rich
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