ILLMAS

Every year I setup my PIN in ATX to automatically populate, however this year I notice I have to enter it every time.  If I go back to masterforms, PIN line appears in yellow along with my PIN, any idea on how to fix this?

Thanks

Was the home being improved and was vacant or was it rented until it was sold?

TP has been reporting a rental property since 2013 with no depreciation deduction from 2013 to 2018, starting in 2019 depreciation was reported.  Fast forward to today, TP paid $50K for the rental back in 2013, total depreciation so far has been $3,636 (2019 and 2020) and $9,090 was never deducted, TP wants to gift the property to their son and is worth $100K, and I wanted to see if the depreciation recapture has to be reported for $3,636+$9,090= $12,726 and the TP has to pay capital gains on it or the $100K gift is reduced by depreciation recapture?

Thanks

On 1/29/2022 at 10:31 AM, schirallicpa said:

Have tried several times this week to log on, clearing cookies and all that stuff.  The first time I tried I got the message that I had tried too many times.  Now - I probably have tried too many times.  I tried from 3 different computers.  Looking in to mailing.

Same happened to me, I was able to call the number and it was unlocked.  Make sure you use the last password that worked, it will allow you semi-login before requiring you to change your password.  I should share this last week.

15 hours ago, Catherine said:

You need a Section 7216 Disclosure Authorization to talk to anyone else about their taxes. It's actually a pretty fine line to tread with our elderly clients. I try to have them come in (or meet me with) a family member - use an excuse, such as "making sure someone understands new technology" or something they'll accept. Once the client has freely spoken to you with that family member present, you can also ask about "should there be trouble in the future, may I speak to X?" to start the discussion. 

This is great information, thanks.  

Today I uploaded 18 files in TXT format and it went pretty smooth, I give it a thumbs up.

11 minutes ago, KATHERINE said:

Hi friends.  I get Carbonite because I think the unlimited storage space is appealing.   The install process is easy, and it back up local (internal harddrive fast); but with external, I followed instruction, but it did not back up.  I have issue to log in, the error message said wrong match of user id and pw., but if I use another computer, I can log in.    Will call them.   

I think it is better use cloud back besides save copies with external hard drive after the incident of fail of one hard drive.

I am also looking for a product or application  which can back up to their cloud storage also can help me back up to external hard drive , so I dont have to manually copy and past the file from internal to external, does any one have something like that already?

The data is so important to us, I think we would die if we lose them.

 

Buy a Seagate external hard drive from Costco, comes with the software already, I just bought another for $129.99.

1 hour ago, cbslee said:

After using BSO for many many years, the new system doesn't recognize me anymore.

Even after entering my Name, SSN and DOB, BSO won't even send me a temporary password.

I even got through on 1 800 after waiting about 20 minutes which was of no help.

I was told to paper file my client's W 2s.

I hope I never have another month like this again!

No way, I’m scared now, I haven’t logged in yet 

Thanks everyone for your input.

Would you reach out to a TP children if you feel the TP is forgetful and/or someone might take advantage of them since their memory is fading?

Online backup is a good choice, it won’t slow down the computer after it has fully backed up all your files, I would recommend starting on a Friday night and not touching the computer until Monday.  FYI like any other backup software, make sure you know what is backed up, you might be surprised to find out your software was not part of the backup.

I usually buy a external hardware from Costco and use the software included, an 8TB drive is priced under $150.00, not bad for the amount of TB and software. 

A non-profit held a virtual fundraising event last year and we are trying to figure if there was a benefit to the people who paid the suggested fee, the organization had a live singer, poet and a speaker, no food or drinks were provided, do you think there was a benefit?

Thanks

Team up with an office that has the service,  that is what I do.  Find out with your city to see if they have free paper shredding days, or if you don't driving here is a link to our city's program:  https://www.recyclebycity.com/chicago/brief/chicago-shredding-events

8 minutes ago, Margaret CPA in OH said:

I find Verifyle pretty easy to use especially now that there can more easily be two signatures as on a joint return.  It took a while for me to get the Workspace feature with threads, say for each year, and inviting contacts to that Workspace and thread.  Fortunately the support (no calls, just email) is excellent and very willing to explain things more than once and in more than one way and maybe even give a call (ask me how I know!) if truly needed.

That will be my next step to learn, right now I am just using it to send out 941/W2 packages but I will be using for efile.

Thanks

2 minutes ago, Margaret CPA in OH said:

When you prepare the document for the client to sign, you highlight the signature line and highlight the date line and can even choose the date format.  It is automatic if you highlight that field.

Thank you, I see it now, I am glad I asked.

Thanks everyone for their recommendation, I decided to go with Verifyle, but I have a question for those that use it, how do I get the date to appear after someone signs a document electronically?   

It’s so bad, an IRS agent I know decided to retire late last year.

Thanks Judy.

For some reason I could not edit the post, but I should of added, if it falls under equipment, furniture & fixtures, leasehold improvement etc...

An auditor is making a mountain out something petty:

Facts

Non-profit rents a school building and they paid a plumbing contractor to run new gas and water lines to a room for a kitchen (for cooking classes), then a sink and commercial grade appliances were bought and installed.

How would you classify each asset?

new gas and water lines

Kitchen sink

stove

refrigerator 

It is possible for someone to change their ERO number?  Same FEIN just a new ERO like for a company that parted ways with a tax office.

The IRS has a good "what if" on CTC and also, there is relief for people that are under a certain threshold and will not claim the kids.

Hello everyone, I wanted to see what others are using for a secure portal, I am looking for something can be linked to ATX preferred or something that would be user friendly for my clients.

thanks 

I can see businesses increase their fees.