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Catherine

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About Catherine

  • Rank
    ATX Supreme Guru

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  • Website URL
    http://www.grant-financial.com & www.constitutiondecoded.com
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  • State
    MA
  • Gender
    Female
  • Interests
    competitive target shooting, fiddle playing (Scottish style), dancing, gardening, reading

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  1. Almost but not positively. I've seen these were all was reported on the individual, and the "trust return" was either nonexistent or had demographic info only and a disclosure that all income was claimed on return of John Q Smith ssn 123-45-6789. Start with trust document and prior year returns. Talk with lawyer who set it up, if needed.
  2. First pro software I used on my own was TaxAct - dumped it after a couple of years because at the time it had almost no part year or non resident state forms. Switched to ATX, left in the midst of the 2012 filing season debacle for Drake and have been with them ever since. Used a couple of forms from Zillion Forms to get the PY/NR forms I couldn't get from TA at the time, too. As a consumer a bazillion years ago I used MacInTax, then Ttx (briefly; never liked it), after they started pushing e-filing and I left paper behind. For friends and colleagues, I have helped using ProSeries, ProSystem FX, and others that I frankly don't recall. Do remember I hated ProSeries with a passion (it was the most convoluted and non-intuitive program I've ever used, including writing my own programs in Fortran with punch cards), and thought that ProSystem would be a lovely option if it wasn't obscenely expensive. LOL; I don't really remember it too well (it was a LONG time ago), but I do recall there were a couple of really complex individual returns with lots of states, and a gnarly S-corp that I finally beat into submission. Maybe they were all related.
  3. what is this word, and what does it mean? we are all tax accountants - doesn't that say it all?
  4. I remember Zillion Forms! Hadn't thought about that in years and years.
  5. Let's take time on Monday to remember those who have died in defense of this country.
  6. Yes. US citizens owe tax and a tax return on WORLDWIDE income. You can exclude income from taxation (but not reporting on a return), or take a credit for tax paid to another jurisdiction, or even sometimes as a deduction on Sch A. Which works best depends on what they qualify for, how much money is involved, and other factors - but no double dipping! The webinar Margaret mentioned may be a big help. You can also read the instructions for Form 2555 (foreign earned income exclusion), and/or Form 1116 (foreign tax credit) to see if those help you.
  7. The ONE client we've had that did this, called to warn us ahead of time. We had her send the paperwork at the time, put it in her file - along with an explanatory letter while the details were fresh in all our minds, and had it there waiting WHEN the letter came. Ba-dum-cha off went the letter and documentation copies, problem solved in five minutes. Because we pre-planned for it.
  8. They hide until you cry "Uncle!" and ask for help. Ask me how I know this...
  9. Yes, I also have it set up for recurring donation. Makes it super easy, and the system (Eric, again; he is SO good at this) sends a reminder a week or two beforehand, so if you need to change, cancel, adjust, or whatever, you have time to get it set!
  10. I accept e-signatures from POAs, as long as I have a copy of the the durable power of attorney for my files.
  11. I send 'em all to the IRS site for Coronavirus updates, https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments and then the state unemployment board. Yes, we're telling people ALL The time (1) the rules are changing weekly, and (2) we don't know. But we're also asking people to make note of any payment they get, in case we need to know next year.
  12. Guidelines just released - see Q. 41 on this IRS page: IRS Economic Impact Payment Information Center
  13. It's also possible that she was paid in cash, but it was all properly reported and a W-2 issued. Then she'd be eligible with no issues. My first job ever, I got a pay envelope every week, cash inside, and a stamped outside with all the withheld taxes listed. LOL; that was a LONG time ago! $71.01 per week for 40 hours, and I lived on it AND saved for school.
  14. non-glossy tape. lots of practice sewing tiny things carefully, so I can line the bits up really well. but it does NOT work when there are holes in the check.
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