Lion EA

Are you sure it's a fully-taxable pension? Could it be a Roth 401(k) to a Roth IRA direct rollover?

Their "lending" is very businesslike and at low interest rates. Now, CT has high rates, a flat fee, and paperwork that borders on tell us what you own, sell it, and give us all your cash.

Schedule C with Form 8919 plus Form SS-8 to save her half of the SE tax. Or do you use Form 4852 instead of Schedule C?

I don't use ATX, so this will depend on how your software works. When I don't have a client in my system or don't have both spouses in my system, here's how I prepare an amendment. In your scenario, I'd roll over my continuing client. Then I'd move her to Spouse and add the Taxpayer's identifying info, because he's the one that already filed, so he's the one we're amending. (Alternatively, you can leave her as Taxpayer IF neither had filed yet or she's the one that filed.) Then I prepare the return as if it's an original joint return. When I have it the way I want it for an original joint return, I save it and call up an amendment (however your software requires). However, when it asks me if I want to move the current information to column A, I answer NO. I want my prepared return to be the AMENDED version, column C. Then, I just type in his information in column A, noting any refunds already received or balances paid.

My limited understanding is if she was alive after 12/31/2020, as long as she didn't die before 01/01/2021, then she qualifies for EIP3.

IRS themselves muddied the waters with their social media posts (I think I saw them on Twitter, over more than one day) telling people they had to 15 April to reduce their taxes by contributing to an IRA. Yes, this was after the 1040 deadline already had been moved to 17 May. I don't know how the IRS expects us to keep everything straight if they cannot.

I clicked on your picture and then clicked Message. Thank you very much for sharing your Questionnaire. I like having a one-pager to have clients sign.

Amen!

OMG

But it'd be a month-ish (15 April to 17 May) late. Fun, huh?! And, 2019 isn't a good stand-in for 2020 tax liability for many of my clients. It was real guesstimates from me to my clients.

That's a good point. I find it easier to fire a client, or to raise his fees a LOT so I like him again, if I don't see him.

Once a client accidentally, through no effort on my part (I swear), mistook a picture of my DIL with my granddaughter for a picture of me with my daughter. They searched for me and saw an old Facebook profile picture. Currently, my FB profile pic is my oldest granddaughter signing her tax return; so, someone seeing that could mistake me for a young mother, instead of an old grandmother.

Whichever one paid more than 50% of keeping up the home can claim HOH.

I have clients from CT to CA, CO to TN, MA to FL, I think 13 states. I've met 1/3 of them face-to-face (at least one spouse/partner/shareholder/trustee), CT residents or were before they moved to another state. Some of those were rare meetings, such as the spouse on a joint return who's also a trustee on her son's trusts, but I'm not sure I've met her. Or, the TN children who visited their grandfather (the investor who hired me to prepare his grandchildren's returns) so I saw them at church once. Hubby has met some that I have not, because (pre-pandemic) he did a lot of deliveries for me, signatures/delivery. They were all referrals, such as parents/children of clients, or clients of retiring preparers. I recognize more voices on the phone than I do faces of my clients.

Thanx, Max. Just sent you a message.

Your hourly rate, perhaps with an uptick to account for your knowledge.

Max, would you share your email attachment? Just let me know how, if you want an email from me so you just hit Reply and attach or... I still love you if you don't share!

Terry, when did their "marriage" begin and where were they living at that time?

Only "taxpayers with excess APTC for 2020 are not required to file Form 8962." If your client is entitled to additional PTC, of course, you include the 8962!!

I had a headache, also, after second vaccination. Started the first night and was still there the next morning. When I gave up and took a long nap (at least four hours -- during tax season) it went away. Try some Tylenol and a good night's sleep. And, I'm glad you got the covid vaccine! But, your question is over my head. What you said sounds logical to me, but I have no idea if it's correct. Knowing your expertise, it's probably right.

And, my envelope opening fee, unfolding your documents fee, getting the pages in the right order fee, calling you to get the even number pages that you didn't fax fee,...

Yep, don't you love the ones who include clippings with their tax documents and forward you emails, links to US Today, etc.?! They're right up there with the ones who label all their documents. Actually, they're often the same clients. And, I do add a charge, calling it something like Consolidated Appropriations Act.

If it was only one wrong year (2019) you can amend. Two years or more means an accounting method and a 3115 to change. And, remember that depreciation is what was taken or should've been taken.

Peggy's client might've gotten a debit card -- and maybe tossed it. They'll say we did something wrong when their refund is held up or when it's smaller than they expected or they receive a bill for balance due.

If they'd been a payroll deduction for his 2019 W-2 and ended up being excess payments (highly compensated or whatever) then they are taxable on his 2019 tax return.