Lion EA

Hopefully, his S-corporation is giving him a K-1 that will detail his distributions, as well as income and expenses. Who issued him a 1099-MISC? Does he do business as an individual as well as an employee/shareholder of his S-corp? Tell him to start payroll NOW.

He probably filled out the PY return/schedule the year he moved, which was correct for that year; then, he continued that method every year since. I've seen taxpayers go to a pro when something changes, and then keep copying what the pro did on their own until the next time something changes!

State Taxation of Pension Income Act of January 10, 1996, P.L. 104-95, 109 Stat. 979 (H.R. 394) Be it enacted  *** SECTION 1. Limitation on State Income Taxation of Certain Pension Income. (a) In General.—Chapter 4 of title 4, United States Code, is amended by adding at the end the following: “ Sec. 114. Limitation on State income taxation of certain pension income “(a) No State may impose an income tax on any retirement income of an individual who is not a resident or domiciliary of such State (as determined under the laws of such State).

The feds solved the issue some years back by legislating that pensions are taxed where the taxpayer resides only. Someone will know the ruling off the top of their head and will cite it for you to convince your client.

If he's in construction, does he have enough assets that the unadjusted basis will get him a little QBID? Then he can learn his lesson about payroll for 2020.

Ohio has all kinds of local taxes.

Inventory, maybe.

I agree with you.

Mary is better at some topics than others! I like David better of the two, but I do like their banter when they present together. We've had some health scares from other speakers, as well as transportation issues (think flights during snowstorms), so we've been booking more duos as insurance. We hope that not both get sick or not both are flying from the same airport due to their different speaking schedules.

The TaxProJournal article? Maybe have to be a subscriber. Let me see if I can post the full article.

Here's their website link: http://ataxprof.com/ Click on Tax Pro Newsletters to get a long list of recent e-newsletters. And, try this email address: [email protected] Put SUBSCRIBE in the subject. They're a small outfit, so I don't know how often they'll add to their list during tax season. But, they do answer questions promptly. They bill monthly, but not during tax season. If you ask a question now, you'll probably receive an invoice 1 May. They take checks only. Both Mary & David Mellem are great people, tax preparers, and speakers. The NY/CT-ATP frequently uses them for our all-day October Seminar.

The Mellems? I know they have different email addresses, so let me check and get back here.

Public defined-contribution pension, like a 401(b), for federal purposes. As Michael said, states treat it differently. NJ adds it back to income, also.

The IRS accepts e-files for 2017, 2018, and 2019. You state(s) may vary.

Hang in there, Bonnie. Come talk to us anytime, about anything.

I have had eFaxes go through/arrive immediately and had them take a long time, both. Most of my faxes to the IRS are from my HP all-in-one on a hardwired AT&T/Frontier line, and they all take a long time. So, I don't think eFax makes a difference. You can save by paying annually. I don't remember for sure, but think I pay no more than $169 annually.

I will probably get rid of my old landline for my fax by the end of the year. When I set up my office, the AT&T line was less than $11 per month plus a separate long-distance service for about $2. We're out in the boonies with power failures, especially during tax season. With our other lines on Optimum and this one on AT&T, we stood a chance of having one of those work and had an extra telephone to plug into the AT&T jack. Now we have a generator, so don't lose power. And, the prices have increased to about $21 and $5. But, I often have papers to fax that are not in my computer, so having the physical fax machine still has some value to me. I'm happy with eFax but haven't given up all my old ways!

With things like eFax, you can receive your faxes via your email &/or log on to eFax from your computer to read/receive your faxes and fax out &/or log in anyplace with an internet connection to read/receive your faxes or fax out. Yes you can get rid of your old machine and the cost of its landline. You will probably have to choose a paid fax service to be able to use your same fax number, but ask anyway. And, this is the time of year you're talking to all your clients. You could stress that you have a new fax number.

Unless she's a full-time student, she would not be a dependent. If the 529 Plan distributions cover her tuition and expenses, then she has nothing left to use for the Lifetime Learning Credit. If she wants to make her 529 distributions taxable and pay her tuition with her own funds, then she can take the LLC. Off the top of my head, I don't know which would be most beneficial to her, but your could run the numbers both ways to find out. Research "coordination of education benefits."

And, 4Q PLUS annual reports in January, even for seasonal landscapers. In my state, you owe reports every quarter, even if zeros. Not to mention the deadlines and the huge penalties for missing a deadline.

I keep reminding myself that I don't charge enough. Ask me how many times I stick to my $500 minimum. I haul that out for price shoppers. I seldom get the chance to use it on actual referred clients.

I use eFax. I used their free service for some time, but then decided I wanted to choose my own number, so now I pay. (But, I pay annually, so don't remember how much off the top of my head.) You could try out their free service...

e-Sign is a standalone program. I don't use the full CCH Portal; although, I use the simple portal FileShare that's free with my CCH SiteBuilder website. FileShare or any portal will allow you to upload anything you need to share with a client (or remote employee or...), so if a client needs a copy of his W-2, you can upload that alone. The full CCH portal can accept tax returns directly as I export for e-filing with just a check box, no separate export from the tax preparer. With FileShare, I do then need to upload to FileShare. I can upload the client copy or my copy or a customized list of separate pages or anything at all. Run some demos of different products after tax season.

Do they work when printing from a prior year ATX? You say they worked in previous years for ATX. But, do they work this year to print a prior year return? Just trying to isolate where the issue lies.

I try to bring in all new clients at $500 minimum. That doesn't always work. But, I'm in pricey Fairfield County, CT so it does work sometimes. Even when I charge less, I print the full price and then a discount. And, I have long time clients at a fraction of that price. And, families with deep discounts or free for kids or.... I get more complaints when I raise prices than I do when I start high with a new client.