joanmcq

I’m just a little bit tired right now. Just a wee bit.

I go on because I need support. Got a weird thing with the form you gotta file if the irs disallows your EITC. anyways it won’t let me efile

ok, now she says it wasn't a PPP loan it was an SBA disaster loan. Know anything about them?

Log in & get directed to a page with basically a logout link.

Well my clients are still in the spreadsheet zone. And I refuse to track it. The one with many, many pages of fractional transactions suggested I pay for the software that will track it. Nah, I don't think so.

Cryptocurrency is a pain in the patootie. I have only two clients that did anything with it and one earned fractional coins by doing something, bought some, converted some into something else, some into USD.... I told him he would have to convert it to a spreadsheet with gains & losses next year.

Yes.

Yeah, I put in my letter this year that I wasn't going to do these this year, and here I have an email where a client got a $53,000 PPP loan & a $10,000 EIP. Just checking that 1) any forgiven loan is not income. 2) expenses paid with loan are allowed. Is there anything else I need to be aware of? I really really really didn't want to deal with these.

That seems to be more tailored towards non-spouse POAs though.

ATX automatically make the CA adjustment with code W.

Use the FECWKS. Report the income, there is no SE tax and do NOT check the box to take it to the 2555.

And good to learn!

I am winding down, but have about 10 returns in various stages of done-ness. Working on a couple right now in which they have HUGE noncash charitable. I have warned them for years about donations. Now you need to get an appraisal of any amounts over $5k of similar items to get it through e-file. Yay, a reason to winnow it down. (Although you could say that some of it is 'art' & some is 'household stuff' and some is clothing)

Expenses for real estate prior to actually buying a property are not expendable prior to actually buying a property & putting it into service. Any other “creative” types of stuff she may be maybe planning on doing also isn’t expendable because she hasn’t ‘opened the doors’ for a business. It’s all start up costs.

There is probably a box you need to check somewhere. Look at the retirement income and make sure there isn't a 'tax this/don't tax this income' setup.

I've cut out anything I don't enjoy. I only work for a few hours each day, even during tax season. You do need to take care of yourself! You've been working in tax for 42 years! 42 years! Stop right now and take a walk. And tell yourself you will do the same tomorrow.

I’m glad to hear this. My own payment hasn’t been drawn yet and this is the first year I’ve tried using DD for about 10 years. I haven’t had any clients calling about their DDs not going though.

I have a new client that I may fire. She makes very little and has 2 sons that live with her and cannot wrap her brains around why I am questioning why one may not be her dependent. Is in college, but made 22k while her taxable (and nontaxable) income is about 30k. second son made 12k. Then yesterday she said she gave up on getting together the expenses because: (wait for it) It was April 15 and she hadn't filed an extension so was screwed. I sent an email explaining that the tax deadline had been moved to May 17. I thought everyone had heard that at least. Now I know why she was referred to me.

Well we don't know because I read it as the house was sold while mom was alive. So we definitely need clarification!

I haven't met at least 1/3-1/2 of my clients, maybe more. I started specializing in same-sex couple taxes back in 2006 when they were more complicated than heterosexual couples and got clients from all over CA due to my Google advertising. Now I've moved from CA and get referrals from CA clients that I haven't met. I have met four of the local clients I've picked up since I moved.

They get the full adoption credit regardless of how much money they spent on the adoption.

Did you check that one business was tp and one was spouse?

When I reconstructed, part of what I did was look at the 4562s looking for what kind of stuff was added & when.

Well TP A sent me a screenshot of what the IRS said she got. TP B sent a copy of deposit showing the $2200. This is the most confusing thing I've had to deal with. I can't remember if I told them to enter their bank account info when the IRS had that open. Thank you for the link; I forwarded it to TP A.

Ok, clients got divorced 2019. In 2018 they were still together & filed joint with an account number neither are claiming now. They got the first stimulus before I filed the 2019 return. They have 3 kids. Anyways, TP A says she never got the $1950 the IRS says she got for the first payment. TP B says she got $2200 the first payment. Is there anything I can do for TP A? I have no idea why the IRS is saying TP A got $1950. I figure if anything (we filed 2019 with her getting one dependent) she should have received $1700. the stimulus wouldn't be decreased by income in any way they filed.