Lee B

No, there are both a tax and legal issues of concern. If you take it upon yourself to decide that it's only a tax issue, then you are doing your clients a disservice. Do you think Attorneys and their legal advice provide a useful service? So do these clients even have an Attorney?

Over the years, it is amazing how clients think they are saving money by avoiding the use of Attorneys. So many people who regard legal documents as something to be signed and forgotten?

If these were my clients, I would set up each business as a separate business entity with separate payrolls which would give you a lot more long term options especially from a legal point of view.

"A proposed class-action lawsuit filed this week alleges that Meta, Facebook’s parent company, violated users’ trust and expectations of privacy by collecting sensitive financial information from online tax-filing services. The lawsuit, filed on Dec. 1 in federal court, accuses Meta of breaking contractual promises to users and, in some cases, violating state and federal law. The action was brought on behalf of anonymous plaintiffs who filed their 2020 taxes online using H&R Block." "Meta is also facing at least five class-action lawsuits from patients alleging that its pixel’s collection of data on hospital websites violates various state and federal laws." So far the only known government action are inquiries from Sen Mark Warner and Sen Jon Ossoff.

Actually I agree, I have bee processing live payroll for 30 years now and I find doing that easier than processing Personal Tax Returns.

Yes, I was using an old bookmark. Strange that I didn't get this message with my old computer.

After doing some reading, I am wrong. You can also add Debit Cards to to Credit Cards. What will be interesting is that Zelle claims they do not have to file any 1099 Ks because they are a different type of financial entity.

Example; You receive a bill for $10,000 with a breakdown of Equipment - $7,000, Installation Supplies - $250, and Installation - $2,750. You send out a 1099 NEC for $10,000. The recipient deducts their cost for the equipment and supplies in COGS .

You're making this way too complicated. I have never separated the materials and or equipment from the installation. Materials and or equipment are deducted in either COGS or as supplies by the recipient, no matter which return is filed and doesn't change the taxable income. SAAS or online payments are not one of the factors that determine whether or not a 1099 NEC is filed. The only way to comply is to file them all. The recipient is not our client.

The only way to know is to require a W 9 be filled out.

I set up a new computer a week ago, a refurbished HP Win 10 using the chrome browser. Every time I log in, I get a message that this site is not secure, that it doesn't use https?

I have had the first part happen 5 or 6 times years ago before I switched to filing online with the SSA, but it was always resolved by responding to the first letter and mailing in the W 3/W2s. Yeah, the Tax Advocate is swamped. At this point I think the best option would be for her to contact her Congressperson who usually has a designated staff person to handle tax issues. If you do that, you will need to have everything clearly documented and explained. They aren't going do research for you!

I pick up a few hours of free CE here and there. However the quality varies quite a bit from occasionally good to not very good. There are a number of free one hour classes that are a mixture of CE and the presenter marketing their services, which can get tiresome. Several times a year the IRS Small Business/Self Employed Division will have a free 2 hour class which is usually pretty good.

Live long and prosper.

My prediction is Friday, January 27th.

Oregon requires 30 Hours every year with an annual renewal . Oregon doesn't allow carryover hours so it easy to add up your hours. Oregon License renews on May 31st so I end up doing about half of my hours in May.

It's interesting how the IRS trails the changes in gas prices. I remember paying $5.65 per gallon in the second week of June. Today I paid $3.79 per gallon. On the other hand, Auto Insurance Premiums are rising and the cost of auto repairs have really gone up!

:The IRS will begin accepting all business tax returns at 9 a.m. Eastern on January 12, 2023."

Crypto is just like the magic elixir tonic water that carnival barkers used to sell over 100 years ago. The Fountain of Youth and the Pot of Gold is just waiting for you to find it.

Wait until Saturday or Sunday when the website isn't swamped.

I noticed when I downloaded Drake 2022 yesterday, the size of the download was over 50 % larger than last year?

I don't see any difference between Crypto, Non Fungible Tokens, Stock Options or Derivatives., You can't see, smell, touch or hold them. They are all numbers in a computer somewhere

Last year to my surprise, i had two clients who during 2021 bought crypto and then sold all of their crypto before the of 2021. Fortunately, they had all of the reports that I needed to report their capital gains and losses. Tom, would you tell a client that "crypto" isn't a "property of any kind"?

I would create my own letter or at the very least have the client sign and date your file copies.

Memo to the file with name, dates and times, which is why I prefer email.