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Yardley CPA

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About Yardley CPA

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    ATX Master

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  1. I have the iFirm portal. This will be my third year using. Overall, it's very basic but provides the functionality and security that I want for my firm and my clients. Feedback has been positive and even some of my more senior clients have found it easy to use. You have the ability to print directly to the portal from the program which is a nice feature and save a little time. I think my initial cost was around $500 and there is a $300 +/- fee each year.
  2. Correct....if it's disbursed directly from the Grandparent's 529 to the school it does impact the FAFSA. I'm thinking they have the disbursement made to their checking account in 2021 and then transfer the funds to the son for payment to the school. I don't think there are any tax implications to that.
  3. MFJ, Retired couple have 529 plans for their two grandchildren. Their son has asked for some of the funds to pay for their granddaughters 2021 college expenses. The question is what's the best way to accomplish this. In my opinion, having the 529 disburse the funds directly to the school is the cleanest way. With that said, there are some implications to that in regard to aid being received by the student. It could impact that aid negatively. Can my clients have the amount needed disbursed (disbursement will be made in 2021) to them and then they write their son a check? No one is tryin
  4. I have as well and found the information to be very useful. It's somewhat fast paced but easy to follow.
  5. I agree...they absolutely should include it as part of the MAX calculations. But then they wouldn't be able to make an additional $500 for each preparer who purchases it. I ended making the purchase since I have several clients who work in NYC but live in NJ or PA. I also have several who have kids in college. We'll see how useful it is this year and that will determine if I renew with the feature or not. Time will tell.
  6. But that would be an issue for the mother. The intent is to pay her. If her mother does not include that income on her personal return, that is not my clients problem. Right? Obviously, my client would discuss this and maker her aware of her responsibilities, but the rest is on the mother.
  7. Received this email from my client: "I have an important tax question; I over donated to my pre tax dependent care account at work. I have had almost $3,900 deducted from my paycheck since 1/1/20. When Covid began, I removed my daughter from daycare but did not cancel or change my paycheck deduction at work until 10/1/20. I only spent approximately $2,500 at daycare and can provide receipt for that. I haven’t done the exact math, but I have over donated by about $1500. My question is this; my mother has provided daycare for my daughter regularly since 6/4/20. Is there a way that I can le
  8. I've been using the CCH Portal with good success over the past two seasons. It's relatively easy to use and even some of my older clients have navigated it without any issues. Now that ATX will offer an electronic signature option as part of it's package (at least for max) the entire process should become much more efficient. Hope this helps a bit.
  9. I find it to be very user friendly and my clients have had not real issues navigating it. It provides a secure location to exchange information with clients and user friendly. I've received no negative feedback, so I consider that a plus.
  10. I reviewed the CCH eSign video they posted online. So, clients need to sign the form with a sylus pen or I guess they can use their finger. This assumes they have a touch screen to accomplish this. Do you find this to be an issue? I assume most people today have a touch screen of some sort?
  11. I received an email offering me the opportunity to purchase ATX's Advanced Calculation Module. I renewed Max somewhat early and did not have the option to purchase this module at the time since it was only part of their higher-end package, ATX Advantage. They are offering this module "ala carte" for Max and Total Tax Officer Users. Price is $499. Wondering how those with this module like it? Is it worth the $499. I assume that all depends on how many returns a preparer has with education expenses and multi-state, but wondering the overall thoughts on the module?
  12. The new charitable deduction for nonitemizers By John McKinley, CPA, CGMA, J.D., LL.M.; Luke Richardson, CPA; and Jonas Lee September 1, 2020 Residents of the United States are frequently ranked as among the most generous in the world (Charities Aid Foundation World Giving Index, October 2019). Charitable contributions flowing from these taxpayers enable many churches, youth sports charities, and other not-for-profits to fulfill their charitable missions. However, many of these organizations are now experiencing a decline in giving as the United States finds itself grappling wit
  13. Happy to see ATX had a decent showing. I've been using the program for many years, back to the days of Parsons Technology, and it has treated me well. That's not to say there isn't the occasional hiccup, but overall I'm very pleased with the product.
  14. Thank you both for responding. She is licensed in New Jersey as a cosmetologist. She lives in PA. She will complete the paperwork to file as a PA LLC, allowing her to complete a Schedule C. She will obtain the necessary insurance. At some point, she may move the business into PA, that is why I suggested setting it up on PA. Thoughts on this? I know she will need to file NJ Non-Resident.
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