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ILLMAS

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    IL

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  1. ILLMAS

    Coinbase

    Here is Chris' email: Chris@ChrisBirdSeminars.com I am sure he willing to help out, very nice and knowledgeable person. https://chrisbirdseminars.com/about
  2. ILLMAS

    Coinbase

    I attend a tax training every year and the presenter raves about the app coinbase: https://youtu.be/4-qvFIosxt4
  3. brother HL-L6200dw under $200 last a couple of years only but very inexpensive to replace.
  4. https://www.vallartaeats.com/history-of-the-taco/
  5. It would be nice if the IRS did a similar line like they did for unemployment first $10,200.
  6. What is the contra account for the PPP loan liability forgiven in 2021? Thanks
  7. ILLMAS

    CA friends

    How likely would the state of CA waive a penalty? Thought NOL was enough to cover the tax and that was not the case. Thanks
  8. ILLMAS

    Paying IL

    IDOR will allow you set up an account for a business or personal, can you make various payments online, I use if for most of my business clients. It's very simple to register and it's free, the only issue I see, if you schedule a payment for a certain day, it takes up 2-5 days for them to withdrawal the amount, but they still give you credit for the scheduled day.
  9. https://tenor.com/bcOpx.gif
  10. I just spent an hour writing a letter to the IRS and going to post office for my personal tax return, I would be lying if I'm expecting them to drop everything to adjust my account, but I will cross my fingers.
  11. ILLMAS

    2019 1099s

    FYI - The IRS has not processed all of the 1099s for 2019 yet. I received a notice that they don’t have any records of my withholding and now I owe a ton One of my client is going through the same, one of their contractors had withholding and they received a notice, called with a POA on behalf of my client and their contractor, IRS has no record of 1099s on file for 2019 and 2020, they were backlogged etc…. So be ready for calls from clients
  12. ILLMAS

    540NR CA

    IL S-Corp does business in CA, shareholders are considered to be NR, who has to be pay the tax, the shareholders or the business? Thanks
  13. Cash basis TP finds heavy duty equipment for his clients, in December 2020 he received a large payment for some equipment, the seller was closed for the holidays and was not able to bill or ship the product until January 2021. In a normal situation, TP will receive the payment, wires it to the seller (less a commission), arranges for freight and the transaction is completed within a couple of days (independently of how long it will take to ship and arrive); deferred revenue comes to mind, but they are on the cash basis, what do you recommend in this situation? Thanks
  14. Does your client have any subcontractors? Most likely its for testing for independent contractor status.
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