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JohnH

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About JohnH

  • Rank
    ATX Supreme Guru
  • Birthday 02/20/1948

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    NC
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  1. JohnH

    Where is the 941?

    I clicked on it and it came up as fillable. Maybe it's your browser? (I'm using IE)
  2. JohnH

    NT_Joke of the Day

    @Catherine Does that include Chaos Theory?
  3. JohnH

    SCAM

    Maybe his father-in-law needs to explain how it's deductible since he brought it up. (Generally, father-in-law tax advice isn't quite as reliable as other types, such as hairstylist or mechanic tax guidance. )
  4. JohnH

    NT_Joke of the Day

    A linguistics professor was lecturing his class on negative polarity, negative concord, & litotes, so he stated: "In English, a double negative results in a positive. In many other languages, a double negative simply emphasizes the negative intent. But there is no language known to man in which a double positive produces a negative." From the back of the room, a student mumbled "Yeah, right"
  5. JohnH

    What would you do?

    Probably a balloon payment or an ARM reset on a commercial property or rental property. Maybe LLMAS will clarify. I had a very similar situation earlier this year. Had to take the banker to the mat, but they eventually found a way to accommodate the client.
  6. JohnH

    1040 PostCard

    So a positive thought about an electron is repulsive?
  7. JohnH

    What would you do?

    Chances are the bank will grant a reasonable extension of the loan (60-90 days would be good). But there are no guarantees, and they probably won't offer it unless the TP puts some pressure on them. The reason is, someone at the bank is going to have to explain the reason for the extension request and their higher-ups aren't likely to take kindly to their subordinates' lack of preparation. So it's easier for them to put the borrower under pressure, hopefully keeping the bank employees under the radar. It it's a long-time, profitable, cooperative client, I might suggest a telephone conference call with the banker & client both on the line. That's the only condition under which I'd speak with the banker. The purpose would be to point out to the banker why an extension/modification of the loan is necessary, and that I've seen other banks do it many times. It might also be an opportunity to point out that this would be a good time for the client to shop the loan around if their bank won't work with them. If it's a marginal client, I might just tell them when I can have the info ready and suggest that they take the timing up with the banker.
  8. JohnH

    1040 PostCard

    Just trying to spark some interesting conversation about current developments.
  9. JohnH

    1040 PostCard

    So, now you're amping up the humor.
  10. JohnH

    1040 PostCard

    Schedule 2+4 and 3+5 are obvious candidates to be combined on the same form. I think one of two things is likely happening here: 1) Someone is under orders from the current administration to create "post card-size forms"; or 2) Someone is intentionally producing something incredibly stupid in an effort to make the current administration look bad.
  11. JohnH

    Over 35 years in this industry.....

    There will be another letter...
  12. JohnH

    Hairdressers

    This is one of those areas where a copy of the Audit Techniques Guide can come in handy. Just give a copy of it to the prospective client and tell them "This is what the IRS is going to be looking for if you're audited. I'll be doing your accounting based on this document. Fees will be proportional to the work involved." Then, as LLMAS said, they will probably fire themselves before you ever get started. https://www.irs.gov/pub/irs-utl/cashchapter10_210745.pdf
  13. JohnH

    1040 PostCard

    Time to announce fee increases? Or is the prospect of a fee increase, plus hearing about all their friends self-preparing and not itemizing due to the $25K StdDed, likely to cause more clients to try out TT?
  14. JohnH

    1040 PostCard

    Wonder if they will like the tax reduction? I suspect many will fail to recognize it, especially if their refund is less than the prior year. That will take some explaining, but I suspect some tax preparers won't bother with the explanation. Some won't explain because they're too busy; others won't explain because they're politically biased.
  15. JohnH

    1040 PostCard

    I can't claim originality. I got it from Jerry Mealer many, many years ago.
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