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Everything posted by joanmcq

  1. I do the same as Sara ^^. I will definitely include questions about the stimulus payments. Already have one about crypto. Will also ask about advance CTC.
  2. We are still eating the leftovers: turkey breast, stuffing, spuds, etc. the turkey turned out great. It’s only the two of us, so we don’t get the full bird anymore.
  3. Being a RE pro doesn’t put the income & expenses on a Sch C. It simply makes the rental non-passive and losses are allowed in full. There’s a checkbox on Sch E. Sch C comes into play for short term rentals where you provide significant services, like a hotel.
  4. I renewed late April. Didn’t see a reason to put it off.
  5. I’m with the ‘it kinda sucks’ folks. They make sure people can’t get through and then sell times to call in. Just doesn’t sit well with me.
  6. I haven’t used it. But I used to work for a firm that did that kind of stuff under TurboTax’s protection plan. It worked, especially for the smaller audits. CP2000s & simpler full on audits. But I got yelled at for working harder audits too much, ones where you had to really fight for the client. I remember one when I was fired where the guy was an author for fairly esoteric scholarly books and had a nearly zero income Sch C, for the time he was researching. He had previously been published, so it was ok to have that. But they just wanted me to close it out.
  7. joanmcq


    I am not getting ‘used’ to crypto. I’ve told the few clients I have that are dabbling in it that they will have to provide me with gains & losses or they’ll find someone else. Most of my clients are like me: too old to deal with it.
  8. I finally got the ACK on Monday, but I left my computer on overnight expecting the program to require a log in, but it was open! Shut it down and logged in, left it for a few hours and it was still logged in. Haven’t had the program open again since then
  9. joanmcq


    Yes, as I understand it.
  10. I rebooted my computer Saturday and decided to try to send a return that got bounced due to the wrong ID theft PIN. Decided to try it without the pin since these are the kind of clients that probably didn’t get one after we had to paper file last year. Anyways, no ACKs, it just says no ACKs available. Second thing and the scary one is that if I leave the program open, it doesn’t need a login after about 15 minutes. Anyone know what might be going on?
  11. Put the foreign wages on the FECWK! You don’t need to paper file
  12. Me too! Currently only my bank accounts at my credit union & the NV Board of Accountancy. I don’t like all the snooping I’ve read about Chrome doing.
  13. I thought he already converted it? You mean leave it as traditional.
  14. You would show the transfers leaving PayPal/Venmo and landing in your bank account if you were audited. The IRS will assume all deposits are income, but it’s easy to show they are not.
  15. I just got through to the PPL in about 3 minutes. Trick is to call between 5pm & 7pm. Most practitioners go home at 5. Now I’m on Pacific Time, so maybe this doesn’t work in the East, but I’m rarely on hold more than a half hour. oh and don’t call on Monday.
  16. I’m confused as to whether your client is a US person who worked in Australia for a summer job or an Australian who worked in the US. In either case, the 2555 isn’t used. If client is US person with Australian earnings, put the wages on the FECWKS, and the income taxes paid on the 1116. Don’t forget to convert the Australian dollars to US dollars before putting the numbers on the return.
  17. He will file under 330 day rule for 2021 but then can file under Bona fide resident. He probably would have qualified under bona fide resident in country A as well. You don’t have to buy a house/ get married etc to qualify as a bona fide resident. The return doesn’t have to be filed in 2023 at all.
  18. I always forget about the 2 years after payment rule.
  19. I cannot keep the years straight.
  20. I just had a class in cryptocurrency, and had to deal with a client that had tons of little bits of crypto ‘earned’ from god knows what. I’m too old to deal with this!
  21. I do my own payroll, that’s bad enough
  22. Hey Tom, I hung onto 1/3-1/2 of my CA base (quite a bit of them are moving out of CA) and picked up a few locals. Mostly CA transplants! I already had about 1/4 of my clients non CA when I moved. The clients I’ve lost I don’t care about; I do approximately 100 returns and that’s enough for me. I found an ‘extreme home makeover’ house that had literally every thing I wanted in a house right in my price range....well, except a hot tub. Still need to get a hot tub. I do have a big ole jacuzzi though.
  23. Tom, I ended up moving to Stagecoach because that’s where I found my dream house.
  24. I got a phone call today. 15% discount until May 30.
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