Lion EA

Merry Christmas!

It was open as of 16 December 2016 for NY/CT-ATP to start posting September through December CEs.

A colleague just posted "I was able to renew the AFSC as part of the PTIN renewal. Incidentally, the CE system just reopened, so credits should appear soon."

I haven't been on the website (and it sounds like I won't get on!) to try to complete this for this client. It's the short survey this year. In a prior year, he had the long survey on paper to file with lots of questions about the finances of his business, sales/customers, shareholders/specific wages, really specific information over maybe 8-12 pages. He contacted the DOL because he didn't want to fill it out (privately held company) but was told some penalties, don't know if from DOL or CTDOL. He had me fill out the company financial information first, and then he added more personal information he didn't want me (or anyone) to see. I think he even redacted some info before sending in that year. So, he has a bad taste in his mouth receiving anything from the DOL.

CEs not able to be accepted by IRS into their reporting system as stated above. I was able to renew my EA and my PTIN without. Don't know about AFSP.

I helped him with the financial information for the long survey, but there was some personal information about the owners that he had to do himself, plus he redacted some info he was uncomfortable sharing. A quick read of the letter states no penalties, fines, etc., but I can't get into the tax code from his site (where I'm working for him today) to read the code cited in the letter: 29 U.S. Code, Section 2. I may try doing it for him online, especially since this is supposed to be the short version this year. Thank you all for your thoughts on this.

I have a client who received a US Department of Labor letter requesting he fill out an online survey. Is this required? What happens if he does not fill out the survey? He really is opposed to doing this. A few years back he had the LONG survey, and think it had penalties for non-filing. It asked a lot of really nosy income questions, questions about clients, things this closely-held S-corporation does not want to disclose ever again. What experience have you and your clients had? How would you advise him?

http://www.forbes.com/sites/robbmandelbaum/2016/12/14/repealing-obamacare-just-got-harder-thanks-to-small-business-relief-in-21st-century-cures-act/#3fd8576447b0

If you look at prior year returns for a new client (I require them) you have a Circular 230 responsibility to inform your new client of errors and of the consequences of amending or not amending. You do not have to amend. The client does not have to file an amendment. (Depending on the errors &/or the potential client's attitude, I might or might not accept a new client who does not amend.) And, yes, you can charge for amendments. You do not have to audit (as an EA, I can NOT audit). You do have to notify if you know. Our standard is Know or Should Have Known.

If an employee buys insurance on the marketplace and gets his premiums partially paid due to low income, but then gets reimbursed tax-free from his employer for his out-of-pocket premiums -- don't we taxpayers get stuck with subsidizing the marketplace?! Employee doesn't have to report his tax-free reimbursement and his W-2 stays low while his employer has a business deduction. We taxpayers are the only ones paying? I agree the penalties to employers were outrageous, but so is the employee who's double dipping and the employer who reimburses the low premiums subsidized by you and me.

A friend/colleague just emailed his favorite CPE company: http://www.apluscpe.com/

Webinars from CPELink, for instance. I get lots of webinar offers via email.

You won't have any trouble eating all your Christmas cookies with that kind of tree around giving you the munchies.

Keep it through 18 April. It'll help you through tax season!

The marketing flyer? Or, the product itself? I can email you the marketing flyer as a .pdf. The partnership is selling only the physical product this year. No downloads of the finished product this season. Make product suggestions on their website or Facebook page.

The mock-up looked great, especially under $10 including shipping, lower prices starting at two units. I ordered on the spot. As much money as I spend on research, $10 is worth trying it out next season. Again, this is not my ad. I'm just really enthusiastic about this being a handy tool for me.

I like argyle!

I saw the mock-up of this product at our December two-day tax update seminar as they wait for some final numbers. Quality product. Color coded. Laminated or some such durable finish. Accordian fold for a LOT of information in a small piece for desk or briefcase/laptop sleeve. My friend/colleague Kristin is especially excited about the education credit information in chart form which Tom compiled. I think this fills a need, like the former TaxFacts or the desk cards when I worked at HRB. I've been putting info in sleeves in a thin notebook for reference each year and use the tables at the front of TTB. But Fingertip Tax Facts requires no work on my part, and my clients don't see me reading a book in front of them! I think this fills a need. I look forward to receiving my order in January. (I get no remuneration from my review of this product.)

Three tax preparers I have known for many years via NY/CT-ATP partnered to produce Fingertip Tax Facts. Tom, especially, is an amazing researcher; he tracks down answers to questions posted on our NY/CT-ATP bulletin board with speed and appropriate cites. Kristin brought me in to work with her a few years ago, I to prepare an S-corp, she the 1040 with spouse’s Sch C, and a great remote QB expert to keep their bookkeeping straight for the two businesses and personal; so I know her thoroughness. I trust their expertise and already ordered for my practice. Website (with bios) is fingertiptaxfacts.com Facebook is fb.com/fingertiptaxfacts Just thought some of you might want to check out Fingertip Tax Facts for yourself. And, spread the word around your own networks. (If you don't want to click on links, message me to email you a .pdf file. It's too large to upload.)

Agree, it's for the employEE's convenience. Personal decision re residence by H&W.

It's two part, right? 330 days in a rolling 12 months qualifies you for the exclusion. But in the quote above, only 6 months were in 2015, so the exclusion for 2015 is HALF the annual exclusion, more or less. Right?

Search on Free Fixed Asset Management Software and you'll find lots to check out. And, Excel has multiple fixed asset templates included: File, New, Business

The eSign license is free. You pay per use. Not much if you don't need verified and a few bucks if you need verified. (I bought some approvals when it first came out, so won't be buying any more for a while. Don't know how much they are now.) Check with your web site provider to see if they have a simple portal included or for a small additional fee. I take all major credit cards via Intuit Merchant Services, because it dumps the info right into my QB. As a ProAdvisor, I don't pay a monthly fee. (Although, it gets charged sometimes so I have to phone to have it removed. Watch your reports!)

1.) I have the free license for CCH's eSign, but haven't used it yet. 2.) PayPal. I have a link on the home page of my website. Anyone can use it to pay me via credit card; PayPal account holders can pay via card or from their checking account. (Also, I use mobile deposit with my business account, so depositing paper checks from clients is fast and easy.) 3.) I have the full version of Adobe Acrobat so have the ability to encrypt, just haven't done that yet. I upload to FileShare that's included free with my CCH SiteBuilder web site. Clients also upload to me. In fact, that's how we handle most signature pages so far. (I won't mention how much I pay for my web site to have that "free" simple portal.) CCH has a more robust portal available, but FileShare works for me and my clientele.

I tend to tell them the higher price (that it takes for me to be willing to work with them) and let them decide to stay or to go.