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joanmcq

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About joanmcq

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    ATX Supreme Guru

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    http://joancpa.com
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    organicjoan

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    NV
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    Female

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  1. joanmcq

    IRS EMPLOYEES ON FURLOUGH

    Upper level employees should have reserves, but low level employees don’t make a ton of money, and if in DC, it’s an expensive place to live. It also depends on the length of time on the job, size of family, etc. if you think the people keying paper returns make enough to save 6 months living expenses, you aren’t thinking correctly. I had the same kind of experience after college as Katherine did, although she didn’t mention any stints of homelessness as I had. And looking for the free food the Hare Krishnas served in the park. While I was working, too. But I have a bit more compassion for others in hard circumstances.
  2. Atx isn’t giving an option a add fees for the schedules. But I just increased my base 1040 charge by $50
  3. joanmcq

    QBI from Sch E

    I’m sorry, but if an ownership interest in a PTP or REIT qualifies when these are, for most people, nothing more than investments, my rentals, from which I derive about half my income, is a trade or business
  4. I took the Gear Up 6 day Vegas seminar. Got a ton of 199A, still haven’t a clue on GILTI. Teaching a 3 hour update class since the group I’m teaching for can’t count on the IRS practitioner liaison not to be on furlough (he was going to do 2 hours). I am going to treat my rentals as QBI. I think I have a profit this year; I’ll have my books done pretty soon. On the other hand, my own books are farther along than they’ve been in years at this point. And my W2s are already issued.
  5. joanmcq

    Atx down or just me?

    My internet is down & im trying to file a Corp return with a phone tether. Getting error message when I try to efile. Is ATX down or just me?
  6. joanmcq

    NT It has been real!!!

    Oh retirement I’m just slowing down, I hope not too much...
  7. joanmcq

    TAXPAYERS MOST AFFECTED BY TAX REFORM

    He doesn’t mention expats that own foreign corporations. Regardless of size, they are expected to cough up a percentage of their E&P as a repatriation tax, Then if in a ‘low tax’ country, are subject to the GILTI tax for 2018 on.
  8. joanmcq

    MeF is down

    I heard it was mostly TurboTax filers & Block. If intuit probably their pro software too. I just heard about the extended due date...ugh. Well have more time to do my own extension
  9. joanmcq

    Help Please - SMLLC Disregarded - ATX Entry For CA

    I’ve always done sch c then 568. But I’ve always had an issue with filing. So this year it’s in the same file as the 1040? Or a separate file with dummy 1040?
  10. joanmcq

    New Tax Law and 2018 Planning

    CA allows you to itemize even if the federal standard is taken, as long as the schedule A is completed. So no much less work for me. I’m seeing big savings in my people that are hit hard by AMT. but then again, the 200-500k range isn’t exactly middle class.
  11. joanmcq

    Tax Software Question

    The checkbox is only good for math error kind of stuff. Like if client said they paid all 4 estimates and got a notice saying they only paid 3. Not an audit.
  12. joanmcq

    Tax Software Question

    Atx rolls the info over, so the only time you have to check the box is on the first return you do for a client.
  13. joanmcq

    same guy - 2 IRA withdrawals paid back

    2nd IRA distribution is taxable and subject to penalty unless otherwise exempt. When client put it back, it’s a contribution, possibly deductible.
  14. joanmcq

    client qualified for PTC at BOY, but changed by EOY

    IRA to get you to 400%. Had a client that required $1600 to IRA. Saved them $4000.
  15. Did my own return when I moved from California last year. On the input worksheet for the sales, make sure the state is coded correctly. It will default to the resident state on the return address.
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