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Proud of myself - QBI projected tax return


BulldogTom

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With no forms, and no instructions from the IRS, I have calculated the federal and CA state tax for my client for 2018 based off their income estimates.   And the taxpayer is subject to the QBI phase-out, and I nailed that too.   Damn, I can actually do this stuff sometimes when I put my mind to it.   This may not be as terrible as I thought it was going to be.

Tom
Modesto, CA

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5 hours ago, BulldogTom said:

With no forms, and no instructions from the IRS, I have calculated the federal and CA state tax for my client for 2018 based off their income estimates.   And the taxpayer is subject to the QBI phase-out, and I nailed that too.   Damn, I can actually do this stuff sometimes when I put my mind to it...

I second the self-congratulation (tax preparers have to occasionally do that if no one else will shoulder the load).  About the QBI phaser - isn't that a Star Trek thing?  I knew I should have gone to that university seminar instead of buying those easy-peasy CPE hours online. 

6 hours ago, BulldogTom said:

...the QBI phase-out...This may not be as terrible as I thought it was going to be.

Wish I could share your optimism.  I'm leery of such speculations ever since somebody here once said Obamacare would be similar to Romneycare and probably no trouble, while another commented, "Maybe so, but it's no walk in the park," which was a mild understatement.

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