mcb39

I was married in 1960. Wouldn't want to go back, but if these tax laws get any more convoluted, I don't know how much more I can take. We are so crazy busy and I am training a young lady and learning new things at the same time. We are still having fun though. My husband brought us both flowers today.

I was not a child bride, I am just OLD. However, we have kept each other sane and are both still working. Not because we have to, but because we want to. Where Covid has broken many families, it has brought us closer together because we only had each other and our kitty baby. We have a beautiful family; small but close and we count our blessings every day!!!

How many of you have noticed an increased number of divorced and/or separated couples this year? I am getting a lot of them along with the usual arguments about who gets to claim the children, etc. My head is spinning and we are only in our second week. On the bright side, I am also seeing several marriages between clients. Let's hope they stay together. I, personally, have 62 years coming up in a few months. Nobody ever said it was going to be easy, but plenty of people said that it would never last. Ha!

In today's market, the profit could be huge. I know that I have one of these coming up in a return so I am following this conversation closely.

Too little, too late!

I would also say hold it for 2023. There are enough kinky problems with the IRS already. Their long release today regarding how they are going to stop sending dunning letters, etc., is about 6 or 7 months late. I have a few letters and information packets in that pile of unopened and unanswered letters that they are sitting on already.

I love that Retirement Savers Credit. If you work it right, you can almost get as much back as you put into an IRA.

Really! I couldn't even make a story like this up!!

JUST PLAIN CRAZY......My client just received a Letter 525-M, a 14 page Notice of audit for 2019. The end result is that the 2019 refund has been frozen until and if they agree to the findings that the IRS owes them an additional $4.00! Yes, you read that right $4! Of course our letter of response to their inquiry is lying in the 5 million pieces of unanswered correspondence. I have a terrible headache and am getting more depressed and unhappy by the hour.

I have already heard from clients who have received two letters; one for the husband and one for the wife. Can things get any more messed up than they already are? Two is almost worse than none. They just aren't going to "get it"

Not only our workload, but the increase in cost of supplies. Paper has doubled and tripled in price. I use a lot of paper as noted in another thread. I shopped online for a couple of hours and ended up finding the best deal by far at Sam's Club. An employee delivered it after dark, but I have 2 cases sitting in my office now. I was sure I had more in the storage room. The only thing that is going to keep me sane is my assistant, Lisa.

I know this isn't what anyone wants to hear, but though I do some in-office shredding; we have an outdoors wood burner for heat and my husband's job is to take boxes full at a time and immediately burn in wood burner. Since I am a paper person, this is MY perfect solution and those old files do double duty.

Similar here., although I enter nothing into QB. I find that Quicken is adequate, but mostly I do it on paper as I go. I log the clients when they come in; cross them off when finished. Have another log for income when they pick up and pay.

Somebody has to do them. I have a preparer that I can refer to. He is just trying to build his business.

I have clients who were told that they never filed in 2019. NOT TRUE. My proofs of filing are probably laying in that 5 million pieces of correspondence. I don't have a good feeling about this year.

I have made the same announcement. I will still accept Sch C and Rentals. That's it!

My son is in Shipping Management for a large Window Company. He just said that if you order a window now, you might receive it in September. This is a double edged sword; lack of workers and lack of National delivery Truck Drivers.

ATX announced it yesterday!

All of these are reasons why I have taken a self starter under my wing. She went to school, she prepared tax returns at home for family and friends and she worked 1 year for an Accounting office that treated her badly. I have spoken about this treasure in another thread. I asked for help and she responded. I welcomed her into the fold because she has excellent work ethics, is the right age to be building a business, listens, remembers and will file, sweep or whatever in order to stay in this environment where she is eager to learn. I, on the other hand, am eager to teach and I certainly needed the help. She is coming in at a difficult time, but all those years of stored knowledge that I have are hers to access. Now she is learning with me and we bounce things around. It is wonderful for me and she loves coming to work. We are in for as long as they let us.

I concede, but I do not concur on the grounds of ethics. Also, Master Guide Page 103, PPG 139 states that "If the child resided with both parents equally during the year and the parents do not file a joint return, then the child is the qualifying child of the parent with the highest adjusted gross income.(AGI)"

I am looking at the tie-breaker test for Qualifying child if the child is the qualifying child of both parents. Quickfinder Page 4-2 Section 5: Unmarried parents "Mom, Dad and Child live together" The Dad's AGI is greater; therefore the child is his qualifying child for all credits. IMO: I cannot ethically allow the mom to reap the benefits of HOH, CTC and EIC when she makes half as much money as dad and they are all living together and living very well. I only have (had) one situation like this and burned my brain in order to decipher this. Since they are both my clients; we all agreed and he shared the CTC with her. Thankfully, they got married in 2021, had another child and all things will be normal this year. Dad also has a small side business that he is doing very well at. Since this discussion was under "Ethical", I am telling you that from what I read and according to my ethics, Mom filed Single and Dad got all the credits allowed. I stand by my decision, even though I know that they could have reaped the harvest by giving the deductions to the mom.

Yes, it is a tie-breaker rule because the child is the qualifying child of both parents. However Tie-breaker rule #5 for Unmarried parents clearly states that Mom, Dad and child live together. Child is the qualifying child of Dad because he has the greater AGI and Dad gets every Credit available to him if his income isn't too high. (for example: EIC)

I looked at that. It's not a very good example as their incomes are both so close. I am talking about a father's income of $40,000 and a mother's income of $18,000. I have always gone by the higher income rule. It doesn't seem right for the father to allow the mother to reap all the benefits of EIC, etc; when he is obviously contributing the most to support. Fortunately, the couple I have in mind got married this year, had another child and there are no questions. Was this another case where the IRS failed to close all of the loopholes? I have been highlighting that higher income rule in Quickfinder year after year. I agree with Kathyc2

That just seems to still be up in the air. Who knows what will happen? Addressing a normal year; most of my clients in this situation have an every other year agreement. I abide by that. BUT, remember that if the unmarried couple lives together with the child, the rules are very clear and explicit. The parent with the higher income must take the deduction.

I do still have a couple of years on my old computer that I can open just to hear the tiger roar.