Pacun

As someone said in the past on this forum, we only have 6 percent of the population as clients and they are not the brightest 6 percent. That fact will not change. Even postcard filing will be a challenge for that 6 percent. BUT you are right, some preparers who do a lot of schedule As should reconsider their business plans for future years. The few Sch As I prepared are for people who pay a lot on Mortgage interest and they might still continue to file sch A even "for a few more dollars" in tax savings.

Most of my clients make less than $50k for Single and less than $80k for MFJ. Their houses are less than $350K and their Real Estate taxes are well below 5K. Most of my people will have only benefits from the new law, correct? AND that's without considering that the tax brackets have a lower tax rate!!!! I have some parents as clients with high school graduates 19-25 years old who don't go to school and don't work. Their actions piss me off a little bit because some of the parents are old, don't speak English and are cleaning offices and houses and they have two jobs while their children speak English, are young and are enjoying life at home. So, these alcahuete parents will not longer benefit when claiming these children. These parents will no longer benefit when claiming them on their Federal Return but they will still claim them for the state exemptions and other benefits that depend on the size of the family. So I will... we will have to be careful if we decide not to claim those children on their returns even if tax benefit is 0. Another situation that should be consider if when people will be filing affidavit of support for immigration. A lot of people don't pass the 125% poverty level because they claim a lot of dependents, so if the dependents will only benefit them on their state return, it might make sense not to claim them. Is it safe to say that if someone makes only 20K, the new law will only benefit them?

Tax payers go to those places because they know they are crooked. We had one in DC and now has moved to MD (because DC was about to get him). He opens 24 hours and appointments at 3AM are packed. All day he and his associates are VERY busy. Everybody knows he has been in jail for preparing false tax returns for others. Now, he doesn't sign the returns and users paper file as if they prepared their own return. So, don't believe for a second that the tax payers don't know what they are doing. People have told me that they have been using their services for 10 years or more and as soon as I see their returns, I can see mistakes but the IRS "brilla por su ausencia".

It will make a big difference. I have the return ready and I remember I have to efile it. I will not remember on Jan 29th when I will have a lot of other returns to efile..

Can I efile prior year 1040s when they open the gate for 1120s?

Hahn 1040, that's the general rule for the AOC BUT there is a special rule for students under 24 claiming the refundable portion on their own return. AGE has nothing to do with AOC and the credit goes with the personal exemption (I won't be able to say that next year). So... my son is 40 years old, a high school drop out and decides to stop working almost completely, gets his GED and starts college full time. He lives with me and I support him (actually his only income is a W-2 for $3,000 each year for the next 4 years) and I will provide 60% of his support. Based on the rules in effect today, I should be able to claim the non-refundable and refundable portion of the credit. ************************ *************************** End of statement ***************************************************************************************************** I will qualify for credit even if I provide 11% of his support, my ex provides 25%, my daughter provides 15% of support for his brother, and my dependent provides 49% of his own support. PROVIDED every year, my ex and my daughter and I agree that I am going to claim him each year and I have a written note each year for the next 4 years.

As a preparer, I like that entertainment expenses are gone. That's one of the areas where business owners are enjoying games with family members and deducting expenses. When people bring those receipts for meals or for games, I am not 100% sure those expenses are legit.

This will be a piece of cake for the IRS. In order for donations to be deductible, you have to NOT receive anything of value in return. So the IRS will easily remove all the donations on Sch A (From CA) until people can prove they have documentation. When the documentation arrives to the IRS, they will see that letter from the "non-profit" organization. At that point the IRS will take tax payers to court and the courts will ask taxpayers if they received or were forgiven something of value by donating and you understand what will happen. ALSO, the non-profit organization will receive a letter from the IRS stating that their non-profit status has been revoked. Unless they can convince a judge that the new tax law or portions of it... is unconstitutional, CA and their "new non-profit organization" don't have a leg to stand on. I don't want to be political too, but it is not hard to find judges that will state that the law is unconstitutional, especially in CA.

I guess your clients are different than mine. My clients expect me to know, not to know where to look. Most of my clients don't have investments or tax exempt income and I do a lot of EIC, but when a client comes and asks me how to report his stock sales or how to report income earned from his embassy, I have to know. If I tell him, let me check my computer, then he/ she will lose confidence in me and my suggestion will carry less effect. When I go to my doctor, I expect him to give a prescription and to address my situation, NOT to go to the computer to find out anything he should know.

Randall, I was talking about immediate benefits within the tax year and both plans are from my employer

I passed the paper exam but I didn't file the form or paid the $30 fees. 5 years later, I had to take the computer exam which is much easier. But the time people take exam 3, they don't remember much form exam 1. On paper, you sat for 2 days taking 4 exams for thee hours each which made you more knowledgeable and you had to remember more stuff for longer periods of time. At that time the IRS used to say that an EA would know more about taxes than a CPA but now that statement might not be correct. Even though they have made the exam so easy now (you can take 1 exam every 4 months), I have seen tax preparers doing taxes for 5 years or more, not able to pass the exams. That's like being a cook for 5 years and not being able to cook a steak. Some of the arguments about the EA exam above are like a cook stating "I am an Italian cook and why will I learn how to make quesadillas or how to cook hamburgers since they are not in my menu". I wished the IRS had a masters on taxes and a phd. So the EA would the bachelors degree and harder exams for people wanting to know more. By the way, in August, I attended the HR block beginners class, unfortunately my instructor didn't know much but their book is EXCELLENT.

The original question was "How to import my IE favorites to Edge?" 1. With Microsoft Edge open, tap or click the ellipsis at the top right to display the dropdown menu, then navigate down to Settings. 2. Next, tap or click the Import favorites from another browser option. 3. Additional web browser installed on the device will show up in the Import favorites list. I wonder if you don't IE but if you copy the favorites folder to c:\user\UserName\, IE would be listed as choice within Edge.

Yes, it is. Not everybody qualifies for HSA but the same is true for 401k. I am comparing situations when the person qualifies for both.

Let's say that my company's 401k matches 50% of my contributions with a ceiling of 6% of my salary. If my salary is $100K, I need to deposit on my 401k $6k and the company will give me the max ($3K) for my salary. If I have another 6K to invest, I should invest it in my HSA (I have family) if I want immediate benefits, correct? It is my understanding that 401k plans pay FICA but HSAs don't, correct? Of course in the long, long run, 401k will perform better.

This is a no brainer for NY. I also will sign an executive order Next December and allow all my clients to prepay their tax services between December 5th, 2018 until December 20th, 2018 so I have money for a nice Christmas.

Merry Christmas everyone.

If the original poster stated that he was told that "nothing was going to change" then it means that the book was going to be the same.

You have to give advice on the current law, not on predictions. I know you want to go the extra mile with your clients but in this situation you will have to blame Congress for the first time (right?). After the law is passed, if you client calls you, then you can advice them accordingly.

Don't forget ordinary and necessary mileage. Also don't forget about the industry standards too. I had an audit where the agent saw the van driven by a contractor. He saw the ladders and the equipment in the VAN and he said, your girlfriend will not board this VAN so it is 100% business and no logs were required because it was ordinary and necessary for this VAN to travel to work sites and the mileage we were claiming were within the industry standards. After the auditor left my client said "this VAN has saved me and my girlfriend and lot of hotel money". I ignored the comment and changed the subject.

F-1 Visa students need to file 1040NR. They do not qualify to file 1040's because their presence in the U.S. is "non-existent" by virtue of the F-1 Visa regulations.

A client asked me to help filing IFTA for the second quarter which is due today but I have never prepared one before. It seems to be a simple form but each state has its own "price". My client delivers cars to dealers on his truck and drives through 8 states. Any information will be appreciated? Thank you

Interesting concept from the presenter. I would agree if the person died, but if he was the one cashing the old bonds, I would pay the taxes on the interest.

I was joking but I think I am right. Look at the email address from "contact us" ncpe 20108 Plank Road Zachary , LA , 70791 US Fax: 225-654-8000 Phone: 800-682-2163 Email: [email protected] Email: [email protected]

NCPE's web site is using AOL. It is sooooo slow.

Make sure there is no Space at the beginning of the first name or last name.