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About Roberts

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    ATXaholics Anonymous

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  1. This topic usually ends with someone being 100% sure everyone else is wrong.
  2. Does Ruby actually schedule appointments if clients want it or do they just route calls? I'm wondering if anyone on here uses an office sharing site. A CPA in my building has decided to join one and it sounds interesting. He'll work from home all off-season but pay $90 per month for access to their conference rooms and as a mailing address. Then during tax season he'll rent a full blown office within their space to meet with clients. He expects it all to cost about $2,400 per year. He works odd hours (he'll come in at noon and leave at 10pm) and many allow that. He can cut the cost further by just using a desk within their larger space with a locked filing cabinet. I'm considering moving in the next year. Considering all options.
  3. https://www.fiskeco.com/executors-can-be-personally-liable-for-unpaid-estate-taxes/ Failure to file can earn penalties from the IRS that the executor is personally liable.
  4. I have an encrypted PDF of all my credit cards (front and back for phone numbers), passport, drivers license, insurance forms and so forth - it's saved in my email. If traveling I know I can get a copy of everything. You can order replacement debit or credit cards right off the BofA website. Why would anyone call? That's like mailing a letter.
  5. In today's world, you would only need something stronger if you were playing games, doing graphic work (photo / video editing) or other high end work. For what we do at work, your computer is going to get the job done. If you'd like to cancel MS Office, LibreOffice is shareware and will open the same files. It'll do 99% of what MS will do with Office. Only problem I've ever had was that it didn't label the zones of a pie chart the way I'd like. That's it and I've used it for 5 years. Sadly I really needed those pie charts to look better but a really old copy of Office worked fine for that one file.
  6. I use FF most everything. Opera for essentially social things. Since FF is always open, it is nice not having the social stuff open all the time and tempting. Our brokerage flows through IE along with anything for the bank or IRS. I didn't like Edge and didn't see the point of using it. Yes I know Opera and Chrome are essentially the same thing. I always delete Norton or McAfee and used to go with a free program but just used Windows Defender this time. I've never had a problem. CNET made it pretty clear in an article that it's likely as good as anything you could buy but the computer maker was paid to put a pay program on your computer.
  7. When they issued you the 1099r, they didn't include in the taxable amount the interest you failed to pay yourself on the loan. That amount is generally forever included as a balance owed on the 401k. That amount must be paid "to yourself" before you are allowed to take out another loan. I think it's referred to as a loan receivable or something like that. While you are an active employee - the 401k rules don't allow distributions from retirement plans so they came up with this loan program. They are required to receive the interest owed before another loan is made to keep within the IRS rules for a 401(k).
  8. The land doesn't receive the stepped up basis but the corp stock does for his widow. To sell the farm land and flow through the stepped up basis, the company needs to be shut down in the same calendar year (the company reports a gain via the K-1 and then the widow reports an essentially equal loss on liquidation of shares). The attorney's know this but are supposedly moving the farmland out of the corp before selling it which I believe is a problem.
  9. Wouldn't it be irrevocable upon death?
  10. I have a final year 1120S with essentially 1 major asset in it and only one owner who died. The estate attorney has transferred the asset (non-depreciable land) from the 1120S to an irrevocable trust. I'm guessing the cost basis is his date of death and this isn't a taxable distribution? The trust will sell it next year with this new cost basis. Edit: I'd report the distribution but have an equal cost basis I'm guessing?
  11. It takes me about 3 minutes on a laptop. Reality is though without a working hard drive to boot it - may as well toss it in the recycle bin. I have a 17 year old Sony laptop I still play old 32 bit games on occasionally. Makes me wonder why I never bought another Sony laptop.
  12. When you unfreeze, you can set it up to automatically re-freeze a few days later. We essentially pay cash for everything so it isn't a major deal. We needed a bridge loan to buy our current home until we sold our last home so I did the unfreeze.
  13. I hate it when high income people show up at my office wanting to pay me to work. As a small business owner it's sort of a nightmare scenario to be paid.
  14. Mine was exposed but my wife's wasn't. I claimed my allotment last Thursday. I highly recommend you put a freeze on your credit reports. It takes a little while and may be an inconvenience if you need to open new credit but it is a really good idea and free. KEEP THE PIN THEY GIVE YOU to unfreeze later. It's highly unlikely your ID will be stolen if your credit accounts are frozen. Capital One Credit Cards was hacked and 100 million people had their information leaked. This is not going away anytime soon. Your data is likely >90% to be available for purchase on the dark webs.
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