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Catherine

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About Catherine

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  • Website URL
    http://www.grant-financial.com & www.constitutiondecoded.com
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Profile Information

  • State
    MA
  • Gender
    Female
  • Interests
    competitive target shooting, fiddle playing (Scottish style), dancing, gardening, reading

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  1. Me, too, but an amazing number have NOT. We got a lot of panicked calls and email on the 15th wanting to know what needed to be done for extensions...
  2. One client called in a panic that her payment didn't go through (1040 pmt) and I had her call. They told her there were delays (no specifics got back to me, at least) but that they'd get them all eventually.
  3. We've been using Verifyle for signatures and secure email. I get that free as an NAEA member. People generally find it easy to use, too, although getting sig's for married couples isn't nearly as easy as it was using Signature Flow (from CPAperless, now discontinued, doggone it).
  4. We have a good couple hundred in the hopper (for many of which we have no documents whatsoever, yet - and we could have told you who those clients would be back on Jan 2nd). MA still has given us NO guidance on how to apply their cockamamie rules for the UI exclusion to blended households, dependents (either direction - include with parent, include parents with them), and other oddball situations. Clients for whom we can file need absolutely ludicrous amounts of explanation why X counted but Y did not, and more. I think I've approved THREE returns for e-file in the last TWO WEEKS. (No
  5. No major (retroactive!) tax law changes for them. No such excuse for estimates; without completed returns it's a total guesstimate instead of a calculation. They did not think. No surprise there.
  6. As soon as the giver said "I should have sent a 1099-NEC" it turned into self-employment on Sch C. The good news is that she can now deduct her mileage to and from, and any out of pocket expenses.
  7. Not quite. Had a client who took a course in eastern Europe. Accredited college, but not on the US list, so we couldn't even take lifetime learning credit.
  8. As long as she paid a school in the USA, yes. If she paid a foreign school, then it depends on whether or not they're - I forget the term, registered, qualified, something - with the US Dept of Ed.
  9. One guy yesterday had a zillion questions on why they owe so much. Gee, he cut back his ES payments but his income was up $60K, I wonder why they might owe money? Thought I had him settled, then today he started in on more questions. I haven't opened any email from him since before lunch because I'm too close to telling him I don't care about his stupid questions, just figure out how you're gonna pay and just. shut. up.
  10. But company does not reciprocate. LOL. We are SO far behind. We lost multiple weeks this year with the retroactive changes (and belated state changes) and the panicking clients needed sedation by phone and email. Plus waiting for software updates, then going back to look at returns untouched for so long we had no memory of what was still to be done, what was finished, what we should expect to see... Worse yet, I have absolutely NO patience anymore for any clients. I've caught myself ready to chew someone's head off, more than once just barely before the words left my mouth. I am so u
  11. Square works well but has some oddball quirks. Dump the whole account and set up a brand new one will be the only way to fix this.
  12. Yes, it's an installment sale.
  13. And yet one of our clients got an NOD because Appeals has NOT seen fit to act on the full response sent in back in November of last year! He's self-filing a tax court petition and I'll take over again once the TC sends it back to Appeals with a spanking to settle the thing. It's a dead-simple response, too; two corrections, one they were right about and one they were wrong about.
  14. Most places sell for 90-110% of one year's gross receipts, frequently paid as 1/3 of receipts from transferred clients per year for three years (plus additional if you work for the new firm, hourly or whatever). The idea being that clients are more likely to stay with the new firm if you are seen to still be involved, and you get paid more for clients that stay.
  15. What I do is enter it on two lines: 1. "personal transactions $x" followed by 2. "personal transactions $(x-1)" so the info ends up showing $1 taxable income. Why add taxable income? Because a lot of detail fields don't transmit if there is $0 total. Leave in the $1 and they get the details. Many states require 1099-K be explained.
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