Richcpaman

My pension Administrators, when calculating the match, take what is box #1, so that would include the HI.

Rich

Every tax invoice I send out has "Electronic Filing of Federal and/or State returns and other administrative fees" on it.  I do not have an amount listed, but it is $40 a return.  The other line says "Prep tax return"

The car dealer charges you for "shop sullies" usually a percentage of the rest of the invoice.  It is free money.

The client normally only wants to know what their bottom line is on the fee... $350, $400, etc.  How you break it out internally is your Biz.

That $40 fee collects about $18k a year for me.

Rich

Sunday Stats:  164 to get done.  8 days to go.

We are way behind...

Rich

1 hour ago, schirallicpa said:

me while my lovely husband wakes me up at 5 am complaining that no one has done the laundry.  Really?  Wash machine is in the same place it's always been.

Simple answer:  "Mine is done.  Take care of yours..."

Really.

Rich

58 minutes ago, jasdlm said:

My 12 year old son is a rock star!  He and I are close, and I know it is hard on him when I am gone.  Daddy is a great daddy, but he's not a very good Mom!  We just got back from the National Scholastic Chess Tournament in Atlanta.  My husband offered to go solo with my son so I could stay home and work uninterrupted.  My son looked terrified, but he came over and said, 'I would prefer that you go with me, Mom, but if taxes won't allow it, Dad and I will be okay.  Suffice it to say that I had staff scan and load everyone's 'bits' in to dropbox, took 3 different devices that could run logmein, and headed to Atlanta.  I actually even did tax returns while my husband was driving down the interstate.

My husband tries his best to be a Rock star.  He will do laundry, but everything ends up in a wrinkled up pile in a laundry basket after he washes it, and he might change my son's school uniforms enough through bleach or color bleed that they will no longer comply with dress code.  He will cook, but it is always going to be some big hunk of meat on the grill with minimal if any sides.  He will take our son to activities as long as I text and remind him 30 minutes before they need to be somewhere.  He can't get the bedtime routine, though.  No matter how late I get home, my husband is snoring, and my son is sitting in our bed watching television and waiting for me to put him to bed in his room.  Eeeegads.  Been like that since he was an infant.  Husband tries.  Best I'm going to get ;).

Stop.

Let your Husband be a Dad.  Whatever that might look like.  Is anyone in a unsafe condition?

Rich

One thing about that Almay photo site, they are not practicing any diversity....

More pictures of dogs with glasses than folks of color...

Rich

Tom:

You are not Crap.  Ship happens.  Maybe the client fires you.  Maybe they don't.  I tell folks I get hired and fired everyday.  I can not control all of that.

We all have to adopt procedures to make sure things like this do not happen.  If you are a one person shop, then you procedures might be different than someplace with a number of employee's.  This is one of the reasons I will not input with the client here.  I take the info, sort it, and let someone else input it, so that two sets of eyes look at every return.  Does not mean that mistakes will not happen, but it reduces the missed document errors quite a lot.  If it is just you, do the work, and then set it aside and come back to it the next day.

Rich

,  

9 minutes ago, jklcpa said:

 

Haha, if you only really knew me in person, and even then, some get the wrong impression and try to behave around me.     If they could only hear how I can cuss like a sailor when I get mad.  

Bacon would make me happy too.

Who is bringing the bacon to the Rita's Bash???

Rich

All of the Kids SS is going to support the kids, plus, Mom and Grandmom, since they don't make enough for themselves. 

Do not believe that the Father was ever married to the Mom.

I see Single for the Mom.  But she could still claim EIC on the boys at that point?  That is like, wow...

And yes, there are alarm bells at the IRS.  Mainly for lunch hour...

Rich 

Father dies in Feb 2017.  Probably drug related.

Kids start getting Social Security soon after.  between the two kids, more than 25k

Grandmom owns the house.  Do not know her income, but not much, probably disability, only.  Or, if any amount of taxable income, makes her part in this simpler.

Mom just does temp type work. and the net is such that she just owes some SE tax no matter what.

HofH seems to be out, because Mom is not providing the Household.  GrandMa can get it, maybe, but I am not doing her return.

The SS to the kids in untaxed, no other income for them. 

So, the kids have more income than Mom, and GrandMom, so they are providing the support.   So, that would seem to preclude exemption status.

I really dislike EIC returns.  And if she qualifies, great, but it is not clear cut, and this one will ring alarm bells when it arrives.

Signed:

Perplexed

Today's Crazy Return...

Single Mom, two kids, lives with her Mother in the Mothers house.  Has about $12-13k of income between a Sch C and W-2's.

Mom is, of course, disabled...

Father Died in 2017, so the kids get SS till age 18.  And the kids got over  $25k in SS that *all* of them live on.

So?  Can Single Mom claim the kids? Claim EIC? Head of Household?

If I did not know about the SSA form for the kids, it would be easy...  But I do.  Seems to me, Single mom gets to file HofH, list the kids, but can't claim them, or get all the credits.

Rich 

Yes...

I fired one for arguing over an $8 carryover in AMT adjustment.   Because it didn't match "his" TurboTax result.

Because TT is perfect, you know?

Sheesh...

51 minutes ago, Possi said:

The S Corp was closed, and the new EIN is for the LLC.

She's a doctor, not a tax pro.

Poor thing.

There is your answer.

The Insurance companies never update info as practioners move their practice's tax status.  (And the Dr's never try, except the address or bank account so that the checks go to them..)

Report the 2 "extra" 1099's to her med practice return, whatever it is (Sch C, 1065, etc).  If the IRS asks you for a Corp return in the future, then you deal with it.  Not very....

This in NOT accrual income.  It was payments she received in 2017 for services she provided in 2017. And she is not "Poor Thing"  She is a Dr.

Rich

My tax star would be my spouse....  While I am in the office on a Sunday until 11pm, she brought in dinner both nights for us.

I carry the laundry downstairs, she get it thru the cycles and then I carry back up stairs.

And she supports me in so many other ways as well.  I am one lucky guy.

Rich

Just go with adding them together.  Clients get two because something changed, mainly that they were filing against the spouse's account, and now they are filing on their own account, or vice versa.  Check the lower right corner box #8, Claim Number.  There might be different numbers there.

Rich

The error I had today?

No VA withholding on the VA Part-Year return. 

1. It was on the W-2. 

2. It was posted to VA.

3. It did not get picked up on the VA return.

4. Why Not?  We had not added the special VA form for WH.  Why couldn't the system added that darn form...

Rant Off

Rich

2 hours ago, BulldogTom said:

I think I am going to get new computers this year.   Both the desktop in the office and the laptop I take to our seasonal office.    I have been running 2 stand alone installs of ATX and just keeping them in sync.   It is getting harder to do.   How much is GoToMyPC and do you think it is worth it?

Thanks

Tom
Modesto, CA

Tom:

I use GoToMyPC to login the desktop in the office when I am at my satellite office.  I am always running it from the same place, so no reason to sync it.  I take my laptop from location A to Location B.  I have a staffer at location B that logs into my server via GoToMyPC, and thee other computers that talk to the server in location A.  I have had 5 or 6 people posting to ATX at one time.  Still stable. 

Rich

1 hour ago, schirallicpa said:

I spend way way way too much time on 8867!!!!!

Ain't that the truth....

Rich

Yes. 

Don't undervalue yourself.

I have clients that pay more for ADP/Paychex to prepare 5 employees payroll on an annual basis than me, and anytime there is an issue with *Them* they tell the client to call *me* to fix it.

Investment fees are another example.  It is only *1* percent, but that *1* per cent on a large account is pretty significant.  And they throw my clients into expensive mutual funds and !horrors! MLP's to fatten their bottom line...

One firm, that collects $25k from my client, sent them this:

Quote

Today we placed tax harvesting trades in your portfolio, by selling individual MLPs and purchasing a basket of MLPs. By tax harvesting today we have swapped your holdings with a capital loss for a similar holding, allowing us to remain invested but providing a tax advantage. These losses will be used to offset ordinary income or capital gains.

 They invested my client in these MLP's in 2016, the5 MLP's returned about a $12k loss last year, and they sold them in 2018 to "harvest" the tax losses. 

So, they sold you out of losers, and just put you into a larger basket of losers.  With a better fee to the firm.

Un Fricking believable.  And I told my clients that.

 Rich

Not to jinx ATX, but it has worked well this year.

I use it via GoToMyPC, and it doesn't crash that way.  So does one of my office folks.

Looks of missing info...  We are screaming into next weekend.

Rich

12 hours ago, RitaB said:

You know clients who show up 45 minutes early to appointments?  It's ok to kill those clients.

 

Its ok to make them wait as well.   5 or ten minutes early, ok... but 45?  You can wait.

I can go upstairs and into an apartment if I want to ...  If I really need to sleep.

20 minutes for me is refreshing enough for me to go another 4-5 hours.

9 hours ago, Catherine said:

When I left the office late this afternoon, my partner was sitting in his chair, legs up on another chair, and I shut the lights off for him.  He was having a desperately-needed nap before dinner and more work.

Yep... That was me.

I nap all the time.

Could not get thru this with out them.  I have a couch in my office just for this.

Rich

1 minute ago, jklcpa said:

From this IRS page https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

 

Judy is awesome.  *I* am lazy...

Rich

I killed a deer one day, somewhere else.  During the day.

After my car was fixed, and it was tax season, I was driving home.  Understand, at that time, I had to drive for about 15 minutes on a road that had farm fields on one side, and state park on the other.  The deer used the road to relax...

So there was this 6-7 point buck in the road.  I could see him.  I saw him in enough time to slow to walking speed, and waited or him to move....   He didn't.  I was in "his road" and he wanted to defend his friend that I had killed about 4 months before.  I moved over to the side of the road to pass him.  He walked right up to my  car and give me a chest bump!  "Stay off MY ROAD and LEAVE my friends ALONE!"

Left a smell dent on my right front fender.

Rich