joanmcq

I use web pay and eftps. Don't send checks anymore!

Client refinanced their home and since it was late in the year, the full amount of real estate tax for the second payment was withheld to be paid at the time of closing. But the lender goofed and didn't pay. Client notified lender and the payment was made today. So...deductible in 2016 or 2017? Per constructive receipt, the funds left the clients hands in 2016. So I'm tending towards 2016.

I file less than 10 entities. All s-corps but one are on extension. One partnership isn't coming back and I'm really happy about that. Really, really happy.

I had to put my Sweetie Pie down a week ago. I really am not in the tax prep mood this year at all.

Still need to do the 8606. And the earnings are subject to penalty.

You can do it each year. I've got clients that are taking advantage as long as the loophole is open

Your clients don't see the return before it's filed? That's not kosher.

I do it exactly the same, except the client copy also has returns & statements, preparer copy has same plus worksheets. If there are estimates I send them in a separate PDF from the 8878 & payment vouchers

I just got a 1098-T with the amount paid box filled out.

Client took $7500 out of her Roth for a first home. On the 8606, first time homebuyer is listed as an exclusion before basis and all of her distribution qualifies. Do I still reduce her basis by the full amount? In other words, can I elect to treat some of it as distribution of earnings?

Easy answer, call ADP or Paychex

I have very few EIC clients, but one with the ACTC also had W2s for each of their kids for a photo shoot the whole family did. Relied on docs? Sure did. The EIC one I did had a 1099-SSA because he and his child are disabled. So in both cases they has government docs with the children's addresses on them. Can't get better than that, I'd think.

Oh my last client could probably DIY. Wages, some interest & dividends, mortgage , & RE tax. Except for the stock options and pension payout part of his golden handshake which was earned in PA, NY and CA. If not for the NY it would still be easy.

Yesterday a client came in and didn't have enough funds to pay the bill, but would in 5 days. So I took a check with the current date and made a note to deposit it on the day the funds will be available. Not a post dated check, and if it takes me awhile to get to the bank....

I wonder how an executive order trumps (no pun intended) existing regulations and code. I would not file a return the way Drake seems to allow.

I wonder what happens if you are already in a stretch IRA? Grandfathered or forced to withdraw? Mine is a good chunk of my retirement savings.

My realtor has one of those. He said it was fully charged by 2pm.

The new house I bought came with a gas generator that automatically kicks in if the power goes out. I have no idea if we've had a power outage! But yeah, I'm out in the country now too.

And Merry Christmas to all who celebrate!

I'm going to Sacramento for a week to see some clients in person. These are either people that don't do computers and/or some special ones I like to socialize with. I'm not set up here to see people. Remote or nothing! i bill if I have to get dressed. Last year I wore slippers for everyone. Bought black ones so it wasn't as obvious as the bright pink fluffy ones.

I've got the 80 hours every 2 years, at least 20 each year and my certification period ends Aug. 31. I attend the CSTC summer symposium so that's about 24 right there, plus dinner meetings for 2 hours. This year my last minute was the CA regulatory review course. It's only required every 6 years, but a webinar is pretty easy to do. The pisser is that Nevada is the same requirement but on a calendar year. So I'll have to keep 2 sets of records, at least until I decide wheat her to keep active status on the CA license. And I've got to do a graded ethics course for the NV reciprocity license. After the move.... I'm packing up my files now. Or actually taking a break from packing up the files.

I may have burned some off this weekend loading and unloading trucks. I did discover I haven't packed any belts yet.

I just got internet at the new house to post this: new for this year client sent me 3 emails regarding the bill she just got from the FTB for 2014. The second email was the remaining stuff I needed to file 2014. They got a demand letter back in June, so the bill for the SFR includes the failure to file after demand letter penalty. I've been trying to explain (by text no less) why, even if they are getting refunds they owe this particular penalty. Have not iterated how their EMERGENCY is not my emergency.

I've been purging and packing all day, all last night too. Still have to do the payroll tax returns for me and one client. Pay bills. Drop clothing off at the WEAVE thrift store (I think they'll be happy to get my business suits and other professional clothes plus a lot of other stuff I've unfortunately outgrown). Do an amended return and three (easy) back returns. Call one client that never picked up their returns. Email another one that hasn't paid. Got rid of all the really old tax materials; I guess if I have to look up 2005 tax law I'll just have to use the internet. Never did get around to putting a bunch of stuff on the lawn with a 'FREE' sign on them. I can't wait til this move is over!!!

I finished my last one at 11:58pm. I'm not doing this anymore. I've got a few that didn't pick up their returns and they're still sitting here. The last one was an RDP couple who also have a partnership. The woman running the p'ship biz (not one of the couple) didn't like how my employee was keeping the books, didn't pay her, and is looking to buy the biz from the couple, but is facing an EDD audit. I warned her about the ICs....so anyways, I never got the stuff to do the p'ship, so I never finished the individual returns. The p'ship always had losses, so the couple said, can't we file without it and amend. So, last minute. And....when I looked closer at the file...mega ESPP sale. Mega. All on of of the RDPs, since the ESPPs were bought before they registered. So a big rush to get him filed so at least he wouldn't have the late filing penalty on a 38k balance due. I feel it was my bad for not looking closer at the docs, and he did send them to me on April 15, so I've had them. The other RDP had a refund, so he got filed today.