ILLMAS

TP works/lives in a foreign country, the company he works for is owned by a US company, the US company is going to give him a retention bonus this year and will be deducting the appropriate taxes for his home country, however they want to deposit the remaining funds into his US personal bank account. TP will be reporting the income in his home country tax return, but I wanted to know if there will be an US implications or reporting, he is non-resident of the US. Also if there is a good reference you can refer me to I would greatly appreciated it. Thanks MAS

JB: How much did you charge just for this transaction?

I wanted to share this step that I was thought at the CPA firm I worked for; check retained earnings for clients that do their own books, I know everyone here has a horror story when it comes to deleted items.

Another option too '>

For a Sch C you will only need a P&L.

State of IL: Our state communicates with the IRS maybe NJ does the same.

Joint TP sold their home for $200K, owed bank $330K and received a 1099-C for $130K, can they claim the reduction of tax attributes (Form 982) if they are not in bankruptcy or insolvent? Thanks MAS

A CPA friend of mine would probably say stop making so much money.

I want your honest answer please, have you ever done a double check on a prior year and found you can get that person more money back?

TP's wife and kids were covered by medicaid, medicaid did not renew coverage (income was too high), so TP was forced to include them under his work plan. However, all this happened in September 2014 and open enrollment (employer plan) didn't start until Jan. 2015, so I was wondering if this TP family falls under B-Short Coverage Gap? Thanks MAS

Agree with Pacun

Same error this morning for 2013 federal efile, date signed 02/28/15 WTH!

I usually include it in all returns I prepare, with the exception of 2 or 3 clients that their books are a mess.

None of us here know what you are talking about.

No worries, called QB tech support and received some of the greatest news, QB online is not recommended for accountants use (I am a Pro advisor). Unless you have a lot of time on your hands.

Last time I checked with QB, their online version did not offer any an inventory module, TP accountant converted their file into QB online and now any new purchase order or bill entered that has inventory is screwed up, help anyone on how to fix this. Thanks MAS

I had a TP once asked me if our office had coffee, I said yes, but the person who makes the coffee does not come in today, they said no problem and made it themselves.

Forgot to mention this, our state charges for SUI or SUTA for the first $12,500 earned, so lets say the TP earned 15K with ADP, the moved to Paychex, paychex doesn't use ADP balances and starts from zero, TP earns another 15K and is charges again for SUI/SUTA, do you still agree a payroll company should not use another payroll companies balances?

I think there is a confusion here or maybe I wasn't clear, when I get a payroll client that is coming from some where else, I request payroll GL from the client or have them request it from the payroll company. In this case, TP earned 10K in wages under ADP payroll service, then Paychex took those 10K and continued the payroll processing for the rest of year, so Paychex records show the 10K + 15K = 25K which is correct. Then ADP sends out a W-2 for 10K and now the TP gets two W-2's, one for 10K and another one for 25K totaling 35K which is wrong, TP was 25K for the year.

TP company changed bank, old bank used ADP to process payroll, new bank uses Paychex. Paychex used ADP YTD balances for 2014, however ADP sent my client W-2 which is also included on the W-2's issued by Paychex. Would there be a problem if I amended them to reflect zero instead of having to contact ADP? Thanks MAS

New client sent me a copy of their prior self prepared tax return, I received 92 pages for a 1040, Sch A, 2441 and state return. Not TP fault, but why does turbo tax do this to it's customers?

This might be a dumb question, but how the hell did he manage to get rid of the student loans? I had an understanding that not even in bankruptcy you could get rid of your student loans.

TP lost his job in 2011/2012 and was not able to make mortgage payments, through a non-profit agency they were able to get the bank to lower their mortgage payment. Finally after going back and forth to court, the judge asked the bank just to reduce loan amount since the TP has been paying the mortgage payment without a problem, bank agreed and sent the TP a 1099-C for 100K. My question is, TP was insolvent back then, now in 2014 TP is doing a little better (has a job now), can this amount be report on form 982? Thanks MAS

Was it a loan or a withdraw?

I tell my newer clients, I don't run a tax mill type of business here.