ILLMAS

Good catch, thanks.

I found this (don't know if it's a reputable source): https://www.quora.com/A-charitable-501-c-3-receives-donations-via-PayPal-The-donors-want-to-deduct-the-donations-from-their-taxes-Can-the-501-c-3-issue-a-donation-receipt-for-the-entire-amount-that-the-donor-has-paid-or-do-they-need-to

I don't know what came first, if the egg or the chicken, but a colleague stomped me with this questions, if someone donates $50 online to a NFP agency and the donee is charged for the $50 + a $2 processing fee (fee is kept by the processing agency), what should the NFP agency report as a donation income? The $50 or $52? I say the $50, since the $2 is not an expense of the agency, the client he is working with is reporting the $52 as a donation and we both disagree that amount. Your thoughts? Thanks

I lost track of how many times I "told her" in my post, sorry friends, just venting and you are my support and thank you to all.

I am probably not the only one who gets these calls, but this particular call has bothered me the most and I probably scared the potential client not to call again. Anyway this particular client called me at the beginning of the year and I always ask who referred you to me etc... but she didn’t want to tell me and finally gave me a name of someone I don’t know and told her we need to make an appointment. That was that, two days ago she calls back and starts asking me questions, stopped her in her tracks and asked who referred her to my office, again she gave me the around and asked why I needed to know (I take the the time and thank clients that refer someone to me), then I remember and told her, you had called me earlier this year and I never heard from you to make an appointment, I told her the deadline is this week and it would be impossible to get her in etc.... , she was more interested knowing how much I charge, I gave her a high amount and told her a charge X for a hour consultation and she responded saying that previous accountants (plural) have never charged for a consultation. Too cut the conversation short, I asked, have ever gone to a doctor, attorney or restaurant and not expect to pay, told I am sorry but I don’t give my experience for free and told her I have to get back to work and hung up. A tire kicker is someone who will drag the sales cycle on…and on…and on while hogging your time and resources without ever actually buying.

I did a couple of times and even shut down my computer completely and two restarts. The slowness was more obvious when I rolled over 43 returns from the prior year, took about 7-10 mins for the process.

Anyone else experiencing ATX 2019 with being slow?

TP kid works/lives in NY, Manhattan to be exact and before entering the county and school district which I didn’t know, TP was getting a small refund. After I obtained the county and district information, the refund turned into a balance due. I understand NY taxes on where you live or work, however the TP didn’t have local tax withheld and is the reason they now have a balance due. What form does the TP need to give to their employer for the proper taxes to be withheld? thanks

TP check and there is no record, that is why I was asking, TP was a victim of identity theft a couple years ago.

Can a TP see the status of their refund?

Hoping for a speedy recover for your mother.

There are a few members I have not seen post or chime in for a while, hope you are doing good, let us know you how you are doing.

Thanks for your reply, form 8332 would be the solution, TP is the noncustodial parent. MAS

It's more on the due diligence, TP provided the divorce decree and I know it's not enough to prove the kids lived with TP, provided 50% of their support etc....

Exactly

Can someone remind me of what the IRS thinks of parent court agreements of sharing kids for tax purposes? Thanks

I am a bite confused, I thought all business returns were due on 7-15-20 after they were extended, I tried submitting an extension in ATX it was rejected because it was passed due.

Yes you are correct, the sale was between the shareholders, the $8000 in capital stock didn’t change on the books.

First time encountering this scenario, 4 shareholder business sold their corporate stock between each other, each member contributes $2,000 back in 2005, in 2019, husband and wife bought 24.5% x 2 of shares, making the other shareholder only .5% owners. The shares were sold at cost, how do I report this sale on the 1120S/k-1`s? I am aware the shareholder that sold their share will report on sch D. Thanks

https://blog.stridehealth.com/post/instacart-shoppers-tax-guide#:~:text=1099-MISC%3A Reports how much,in a given tax year.&text=As an independent contractor with,receive this form from them.

TP has really had no taxable income for the past years, but makes an estimated tax payment just in case he has any capital gains from his brokerage, the over payment is carry forward into the following year on the tax return, but the IRS and the state has been issuing a check. Anybody know why they return the money?

I do consulting work for a CPA firm and the computer they assigned me, the caps lock randomly turns on, today my computer started doing the same. Both computers are Dell XPS, Win 10 Pro, anyone else experiencing this problem and is there a fix?

They better make a quick decision, I am so behind with work after being quarantined for about a month

Yesterday I told a client, normally we "accountant/tax preparer" get the blame anyways, we were talking about reasonable compensation.

Who else has signed up for it? I usually try to make it when it comes to my city, unfortunately it’s virtual this year.