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About Catherine

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    ATX Supreme Guru

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    http://www.grant-financial.com & www.constitutiondecoded.com
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    competitive target shooting, fiddle playing (Scottish style), dancing, gardening, reading

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  1. Judy's right, as usual. Why do I even bother to respond?
  2. Use $1,000 of costs towards credit, which is 50% of the costs. That leaves $1,000 of costs to use for deduction. You can also see if just using the deduction works better. Sometimes it's funny that way, and does give the client a better outcome. There may even be a sweet spot where $1,500 deduction and $500 towards credit ($250 credit) is best.
  3. Judy's info is, as always, correct. Reduce the deduction by whatever was used to get the credit. In that regard, it's like education credits. You can take a deduction or a credit, but not both with the same funds. You can take both if you use different funds. In this case, by reducing the deduction amount by that $1,000 used towards the credit.
  4. If he meets the qualifications (small enough employer), then there is an up to 50% credit on the fee for the first three years. Info here: Retirement plan startup cost credit - IRS
  5. Anyone here knowledgeable about sales tax nexus rules in New York state? Client with an online business is expanding and has concerns. I am clueless in this area. Please either respond here or send me a private message. Thanks!
  6. Also helped by *amazing* tech support that gets you the answer to any question you have, fast.
  7. The input in Drake is based more on the forms that we get from clients, than on the tax form format. So you'll get a W2 screen that looks like the W2s we get. Ditto for 1099-MISCs and 1098s, interest and dividends, can even consolidated forms. There is a Drake Tax Basics free webinar next week (after t he entities deadline) where they will go into all that - why don't you take a peek then? Drake Tax Basics (Webcast) - September 17, 2019 - 1:00 PM - 5:00 PM Eastern. This 4-hour online webcast introduces the basics of Drake Tax. Learn to install and set up Drake Tax, navigate data entry, prepare and e-file tax returns, use tools such as the Tax Planner, Client Status Manager, Update Manager, and more. Chat with Drake reps and earn up to 4 hours of CPE for attending. Click here to register. (the "here" is this link: https://training.drakesoftware.com/classroom-training/trainingclasses/?type=1&format=2 )
  8. Hawaii is a common state to establish domicile for expats. Florida is another one. Or any state with no income tax, really.
  9. Don't know about now, but back when I used them they would do that if you provided them with available times. I did not use that service, though, 'cuz at the time my available hours were too irregular.
  10. I get emails from her from time to time. She's retired, living near her grandchildren, and doing well. I had a cartoon from her just a couple of days ago.
  11. We used to use Ruby Receptionists, back before we hired an assistant. They were great! They answer however YOU say, and work closely with you to make it all seamless. They even have ways to figure if this is a high-priority call (rules you set with them, and they asked some good questions) and can then transfer TO you if need be. Ruby (all the ladies are "Ruby") calls you and gives the basics, and up to you to decide if this is a real emergency to take. The pricing at that time was very reasonable, and we signed up for three months at a time, every year for a couple of years. Ruby Receptionists
  12. But then most states will give at least some credit for tax paid - on the same income - to another state. Who gets precedence is a whole 'nother can of worms!
  13. Depends on the state. Best way is to establish domicile in a no-income-tax state.
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