ILLMAS

Okay how can I participate in warning people, JK I will probably shut this place down.

Can someone share a letter to get an idea how to nicely let go of a client(s). Thanks MAS

I didn't know shorthand for the internet existed, if you scroll all the way down you will find WTF, OMG, and my favorite *$, see if you can guess what it means. http://www.netlingo.com/acronyms.php

Many of clients know about this, they always ask me if it's better for their contractors to incorporate to avoid having to give a 1099 to an individual that might trigger a payroll audit.

Anyone else thinking of helping their clients comply with affordable care act as a new line of business?

Taxed, to answer your prior question, no I have not done a business analysis nor the other things yet, here is my story. My former employer, a CPA firm did do the analysis for the tax and small business department (The 80/20 rule) and found out this department was not profitable, so back in late 2007 I was ready to move on and change career, but before leaving a was given an offer. They offered me the tax and small business clients at no charge to me, I simply had to open my own company, find an office or rent an office from them and I could keep any client that wished to continued with me, so I am an a one-man operation since 2008, I have to do everything myself. But I have gotten to point where I feel I am at the 80/20 myself

I admit my complaining is my own fault, I never say no to a client even dough I am super busy and I am too easy when it comes getting paid on time. I let my client troubles become mine and I need to stop this. MAS

I am working on my 2012 tax return and every year I take less home, not counting working more than 40hrs a week, weekends, deadlines..... Sometimes I think I can make more money working at Target and not go through all this aggravation

Funny and a little gross.

I rent an office from a CPA firm, I was just talking to an employee there and she was telling she cannot access a government website to do her work (single audits), it's down.

I called the IRS to request a transcript on behalf of myclient, the gentlemen placed me on hold, but I guess he forgot to press the hold button, I could hear people taking about furlough days and what not, it sound like a party. So I asked him when he returned to the phone if they were celebrating someone birthday because I could hear people talking and laughing and he said no, we are worried because we don't know if we are coming in tomorrow I actually felt bad for him. MAS

I think you have a higher chance to be hacked if you are a bank and you have a higher chance of getting scammed if you open and read every single email.

This reminds me of the man who betted his attorney he would pee on the IRS agent papers. 87 year old Grandpa is summoned to the IRS office for an audit. The IRS auditor was not surprised when Grandpa showed up with his tax adviser. The auditor said, ‘Well, sir, you have an extravagant lifestyle and no full time employment, which you explain by saying that you win money gambling. I’m not sure that I find that believable.’ I’m a great gambler, and I can prove it,’ says Grandpa. ‘How about a demonstration?’ The auditor thinks for a moment and said, ‘Okay. Go ahead.’ Grandpa says, ‘I’ll bet you a thousand dollars that I can bite my own eye.’ The auditor thinks a moment and says, ‘It’s a bet.’ Grandpa removes his glass eye and bites it. The auditor’s jaw drops. Grandpa says, ‘Now, I’ll bet you two thousand dolars that I can bite my other eye.’ Now the auditor can tell Grandpa isn’t blind, so he takes the bet. Grandpa removes his dentures and bites his good eye. The stunned auditor now realizes he has wagered and lost three grand, with Grandpa’s tax adviser as a witness. He starts to get nervous. ‘Want to go double or nothing?’ Grandpa asks ‘I’ll bet you six thousand dollars that I can stand on one side of your desk, and pee into that wastebasket on the other side, and never get a drop anywhere in between.’ The auditor, twice burned, is cautious now, but he looks carefully and decides there’s no way this old guy could possibly manage that stunt, so he agrees again after checking a couple of details about the bet. Grandpa stands beside the desk and unzips his trousers, but although he strains mightily, he can’t make the stream reach the wastebasket on the other side, so he pretty much urinates all over the auditor’s desk. The auditor leaps with joy, realizing that he has just turned a major loss into a huge win. But Grandpa’s tax adviser moans and puts his head in his hands. ‘Are you okay?’ the auditor asks. ‘Not really,’ says the tax adviser. ‘This morning, when Grandpa told me he’d been summoned for an audit, he bet me twenty five thousand dollars that he could come in here and pee all over your desk and that you’d be happy about it!’

While the client is in NonCollectible status, how often does the IRS check? Or do they do nothing? Yes, they do check in, just yesterday I spoke with a collection agent on behalf of my client, we submitted form 433-B about a year ago, so I would say they follow up yearly. His question was if the business situation has changed during the year, I am still waiting to hear from him if we need to submit financial statements. From the initial conversation I had, the account is active for 10 years and if your financial situation changes they'll come and collect.

Proseries also has it's hiccups, the firm I worked for encounter a problem with a multistate return last month, tech support suggested to prepare it by hand, I let them borrow my ATX program and it was worst. At the end they had to buy either TaxAct or TaxWorks and that solved the problem. The problem had to do with shareholder info not flowing the to states.

I don't know how people can drink those energy drinks, I avoid them like the plague, well anything with caffeine. I would rather drink water then that junk.

At this moment I don't know what plan it is, I am just hoping it's not taxable because of the high payout they received. Requesting a copy of the plan anyway. MAS

10-4 I will have the client bring in the documents. MAS

I wanted to post this question to see if anyone here has had experience with a client that received a payout from Aflac. Are the payouts taxable? I know the premium payments are pre-tax, and I am afraid the payouts are taxable. I will do further research but I just want to get an idea for now. Thanks MAS

LOL you beat me to it, I was going to post it too, because I couldn't tell what penalties are they assessing to the preparer?

I was on hold with the IRS for 1:15 minutes and resolved the issue in five minutes http://youtu.be/Vr_YVQctXVg

Where is he?

Thanks, I freaked out and had the client mail it better, I even walked him to the post office to make sure it was sent and post marked. Now we will wait and see.

Our city passed an ordinance to have scrap metal yards collect personal information from costumers because some of them were stealing city owned man hole covers and selling them as scrap.

Jack, please let me know if they are going to fix NETSETUP, worked perfect for 2011 and prior years, never got it to work for 2012.