Margaret CPA in OH

Thanks for replies. This is the first time I can recall that there isn't a fairly steady stream. I will be patient for at least another week. I know I have a few appointments to finish up next week but nothing in the pipeline after that except a major client who has already sent in the engagement letter but will be in FL until early April and waiting on K-1's for 2 clients. I decided to go for natural attrition but renewed my license for 3 more years. Guess I'm just a little nervous about too much attrition too soon!

Click on yourself and profile. Everything should be listed there. At least I can see all of mine.

Several long time clients have not yet returned engagement letters or contacted me about returns. One already said he did his own for free so not returning (his situation has finally gotten very simple, so all good). My plan has been to allow natural attrition so I'm quite okay with some leaving but it would be nice to know sooner rather than April 15 when I have heard nothing. With long time clients, I stress out for them whether or not they know it. Of course it isn't even the ides of March yet, but I am getting a little stressed about some of them What, if anything, do you folks do?

It goes on the Main Info page just under the Date of birth data.

Ain't it the truth!

Um, nevermind. I stumbled around some more and found it, just not or where I expected. Carry on.

For some reason I cannot get a client letter with estimate instructions to appear let alone print. The federal and state letters were there so I changed the state to include the estimates. Nada. I checked preferences, wasn't marked so marked it. Nada. Closed program, reopened. Nada. What am I doing wrong? I've had these before just not for this client.

So the 1099's were sent using the 'partner's' SSN? And, if so, that gets negated? I'm glad you are handling this but agree it's on the right, and probably only, track to correct, then for the clients to 'go and sin no more.' Just be sure to be compensated. I kinda harp on this having been really burned several years ago. The client was just arrested last week for fraud and other charges. I coulda shoulda taken her to small claims court back then but it's unlikely I would have realized real money. I moved on but it didn't and will never happen again.

Just-wow! Don't you wonder why so many folks think they know how to do these things because, well, because? I have no great insight but admire you for this untangling and immediately don't see the traps. Likely others will. Does the original p'ship return actually have zeroes? Or are you thinking it should because it really is a sole prop? What I don't quite get is why the friend becomes a consultant and what happened to the 'small group' created? And if this is really expected to be a non-profit at some time, you might want to educate those involved on the costs to apply and education needed to comply. And you need this in late February, don't you? Hope you get paid appropriately!

Question: What is the security of the online fax services? Some of my clients fax tax documents to me with all the data a hacker would love but it goes to my computer which is protected 6 ways to Sunday (says my tech guy). With all the hoo hah about security, is an online service safe? I started using Verifyle for a client portal now but they promote encryption and security. I'll still look at that fax.plus service, I think.

Fax.plus sounds good! The reason I have wired lines is that a few years ago I went wireless in early February (it was a deal) for my main line and internet but kept the fax, wired line for some weird reason. Within 2 weeks the power went out for a couple of days and the only access I or clients had was my fax line. I still don't give out my cell number to clients or I would be called too often. When I retire, then and only then will I give up the wires. Burned one, twice shy.

I have and have always had a separate fax line connected to a retired computer with a fax modem and program in it. All faxes are "printed' and saved to the appropriate client file through the connection (it looks like another drive) with my main computer. Junk faxes are deleted. Before cell phones it was nice to have an extra phone in my home office to call out when needed. Costs about $12 monthly . I also use the number for 'required' phone numbers when I don't want calls.

Okay, I had this issue with my church when i was treasurer. In Church & Clergy Tax Guide this is addressed but it applies to all employees. IRS Letter Ruling 200437030 (2004) suggests that the assumption that small amounts of cash or gift certificates are not the same as hams, turkeys, fruit baskets, etc. commonly given as gifts. The IRS ruled that these coupons represented taxable income that should have been added to the employees' Form W-2. It rejected the argument that the coupons were a de minimis fringe benefit (i.e., so low in valur that they could be ignored for tax purposes). The IRS conceded that taxable income does not include any fringe benefit that qualifies as a de minimis fringe benefit. Section 132(e)(1) of the tax code defines a de minimis fringe benefit as "any property or service the value of which is (after taking into account the frequency with which similar fringes are provided by the employer to the employer's employees) so small as to make accounting for it unreasonable or administratively impractical." The IRS concluded that cash can never be a de minimis fringe benefit, since it is not "unreasonable or administratively impracticable" to account for its value. The same conclusion applies to cash equivalents, such as gift coupons, even though the property acquired with the coupon would be a nontaxable de minimis fringe benefit had it been provided by the employer. Further, the definition of de minimis fringe benefits in Sec. 132 refers only to 'property or services' and not to cash. The regs provide several examples of de minimis fringe benefits and none involves cash. It is not administratively impracticable to account for even a small amount of cash because the value is readily apparent. I could go on but am tired of typing. I suggest looking up the Letter Ruling above and Sec. 132. I hope this is enough. There were many examples listed but I don't want to type them all.

Hey Tom, see some of my concerns and ignorance in comments above. Subsequently I have paid for Verifyle (I'm not in an organization that includes it; that would be more than the $108 annual fee or $9 per month so don't even need it all year). There have been a few kinks but the clients that have so far used it are really happy. It includes e-signing and documents can easily be uploaded and downloaded either way. You can contact me if you want/need more info. I really like it and am glad I finally 'get it.'

Maybe don't answer your phone while driving, Bulldog Tom. Pretend you are in the loo. trusting you don't answer there. I don't know how he did it but my brother's cell replies with "I can't answer now, I'm driving," if he is. And my husband never uses the phone handsfree or otherwise while driving. I almost never answer, just take note of the number (all too often spam) and, if a text message, I might have it read to me but I never reply. Be safe. Enjoy your birthday weekend! Then get back to work like the rest of us

I just got this, too! No idea what's going on but the return was transmitted to agency in the ack. Weird...

I ended up testing for sure my bcc to myself then wrote a brief apology explaining that I was testing my email system to announce the portal and inadvertently addressed to all. No comments back except that one client really liked the portal and found it easy to use! I think it's over, lesson learned. Thanks for input, all.

ADK2ATX, it used to be fairly easy to spot the candidates before the increase in the federal standard deduction. The Ohio tax regs often made the big difference but overall it was more advantageous when the earners were fairly equal. I haven't yet seen a real trend for a couple of reasons: I have a very modest client list and most of them are single and/or the higher standard deductions have now made it moot. But I still check to show those who ask but don't qualify. The one couple I know will still qualify are a high earner with retired spouse with fair amounts of divs and cap gains. Another couple earn close to the same and saved only $419 filing separate but decided after my $150 upcharge they still wanted to file separately. Hey, it was $150 saved! Judy, 'quack, quack'? I don't understand.

It would be wonderful to have that in the program but then I think the program would cost much more. What I have done for several years for a number of qualifying clients, is input all the data and code each amount F or S. I sometimes use J or just half and half. Some J things are not allowed MFS. When the comparison shows a clear advantage to MFS, I estimate the additional charge to do that as you then have to strip out one of them and create a second return. Sometimes the tax savings isn't that great. The clients that do benefit from this are mostly returning clients so I then rollover the MFS return of the S and strip out S data in the MFJ. Clear as mud? It is very important to make very sure that the combined numbers entered match those of the joint with only the tax calculation and disallowed items being different.

Thanks, Catherine. Only about 6 or so were from church. I'm pondering any next move. Another email may draw more attention to the first which may not have been received anyway - you know, lots of spam filters around. I just feel pretty stupid. Medlin, I usually ignore those things, too, and am aware that typical email is not secure. Kind of ironic that I was trying to alert clients to use a more secure method of transmitting documents. I really hate it when they send phone photos of stuff!

Thanks, Judy. That happens with the church folks on occasion, too, but I never talk about anyone else's business. ILLMAS, here is the bottom of each email: Margaret Champion MBA, CPA 6902 Moorfield Drive Cincinnati OH 45230 513.232.4633 Telephone [email protected] 513.232.2752 Fax www.Champion-CPA.com IMPORTANT NOTICE: You are hereby informed that any U.S. federal tax advice which may be contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. IMPORTANT CONFIDENTIALITY NOTICE: This message contains information that may be confidential and privileged. Unless you are the addressee (or authorized to receive for the addressee), you may not use, copy, print, or disclose to anyone the message or any information contained in the message. If you have received this e-mail in error, please advise sender by reply or by telephone at 513.232.4633 and delete the message. Thank you.

I sent out an email to my clients having prepared a group list, Tax Clients. First time for this group. I sent an explanatory message about Versifyle and the intention to use it, should they choose. Normally I would, of course, send the email to myself and BCC the group. I forgot to do that this time and found out only today when one client replied to it. My horror when I saw all the clients and emails listed on the original! The vast majority of those have no clue who the others are but about 6-8 are all members of my church. I have never discussed anyone with anyone else AT ALL but they have informally referred others to me so it's mostly an open secret amongst them. Should I do anything? Would it draw maybe unnecessary attention to this? I feel pretty horrible right now and at a loss.

Good planning, I think. I will be interested in the feedback you get here!

Thanks, GGRNY, I went with Versifyle. It's going well and the first several clients like it. There will be some without the ability to upload documents as no way to scan paper but I do like the e-signature part now that I understand how it works.

Oooo, can't wait to see this!