Client has base salary and commisions. His base salary did not go down due to Covid but lost commisions, Do commisions count toward thier income so he can qualify for th 10% exemption for a 401 k ...
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Client has base salary and commisions. His base salary did not go down due to Covid but lost commisions, Do commisions count toward thier income so he can qualify for th 10% exemption for a 401 k withdrawal thx Michele
I have 50/50 partners that did not have a partnership agreement. Only one partner put up the capital. They have had the business about 2 years and are closing it generating a $20,000 loss. Is the on...
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I have 50/50 partners that did not have a partnership agreement. Only one partner put up the capital. They have had the business about 2 years and are closing it generating a $20,000 loss. Is the one partner entitled to a portion of the loss since he did not put up anything and there was no agreement. thx Michele
I want to classify trade sales as a day trader transaction. I do not want a market to market. Yes I am aware of the rules. I was just looking in Lacerte where to mark this as and that there is no el...
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I want to classify trade sales as a day trader transaction. I do not want a market to market. Yes I am aware of the rules. I was just looking in Lacerte where to mark this as and that there is no election that has to be made. There is a box that can be marked Securities Trader transaction. Is that the box I need to mark and nothing else. thanks Michele
We are using two options our website thru cpa site solutions has a client portal. We also use efile cabinet . I didn’t like intuit link when I previewed it
I use lacerte and have server at the office so I have a vpn and additional firewalles and such. I can do all the updates remotely also. We have not had any problems
We are a decent size practice with around 2000 clients. I as the owner have always had a remote connection. I now find myself scrambling to get 2 key accountants set up. This time of year gets reall...
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We are a decent size practice with around 2000 clients. I as the owner have always had a remote connection. I now find myself scrambling to get 2 key accountants set up. This time of year gets really crazy for us. We would like to be able to continue. We already use a client portal for those that wish to use it. and have used esignatures. We have not seen a downturn in appointments, but there have been more wanting to drop off than usual and family members dropping off for older clients. We are pretty booked for the rest of the season so I guess time will tell. We are not on shelter in place yet but I feel like it is coming for everyone. Michele
The preparers signature does not print on the Indiana IT-8879. which is a real pain if you are using electronic signatures. Does anyone from Indiana know if there is a way to get it on the return be...
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The preparers signature does not print on the Indiana IT-8879. which is a real pain if you are using electronic signatures. Does anyone from Indiana know if there is a way to get it on the return before printing. thanks Michele
last year I had to go to docusign to get them set up and then sent from there. I was going to check this out for this year as I am adding additional forms for due diligence. Hope this is not going to...
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last year I had to go to docusign to get them set up and then sent from there. I was going to check this out for this year as I am adding additional forms for due diligence. Hope this is not going to be a headache since we have a large client base UGH!! If they are going to promote this you would think they would have better support for it. Michele
Electing Safe harbor for only QBI purpose. Are we suppose to be also putting a rev procedure as to why they qualify for safe harbor?I had been putting the properties that are grouped and attaching t...
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Electing Safe harbor for only QBI purpose. Are we suppose to be also putting a rev procedure as to why they qualify for safe harbor?I had been putting the properties that are grouped and attaching those to return. These are ones that I am not going to the election screen as they are not electing under real estate professionals and those rules.
thx Michele
Have some clients wanting to transfer annuities to their trust. I thought there was an exception so they would not run into taxation issues. Any information greatly appreciated.
Michele
I have wanted to use a hammer on it when you have 8 in the office and pay for new all updated equipment and new server and everything runs great but 2018 sit and spins or kicks you out. UGH!!!!!!!!!!!
Why is the safe harbor real estate election for both husband and wife when all the properties belong to the husband. Also when aggregating properties I assume there is no easier way for the election ...
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Why is the safe harbor real estate election for both husband and wife when all the properties belong to the husband. Also when aggregating properties I assume there is no easier way for the election we have individuals that have 50-75 properties I had to go in and mark each property with a 1 to get them to flow on one election state. well i should say it took a couple of pages to list all the properties.
thx Michele
I was looking at the 25,000 exception. The husband and wife are sole owners of the properties. It looks like I would have to mark it as not a passive activity to get it to show
Have rental partnership losses not showing on 1040. They have basis to take the losses. Is there something I am not marking. I did not want to mark that it was not a passive activity. Yes their incom...
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Have rental partnership losses not showing on 1040. They have basis to take the losses. Is there something I am not marking. I did not want to mark that it was not a passive activity. Yes their income will allow for a loss so that is not a problem. I have entered their basis.This is a new client and was wondering if I missed marking something.
thanks Michele
Someone in the office accidentally efiled an s corp return with nothing on it .It was just suppose to have an extension. We have never had this happen before. Is there anyway of straightening this o...
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Someone in the office accidentally efiled an s corp return with nothing on it .It was just suppose to have an extension. We have never had this happen before. Is there anyway of straightening this out with the IRS. I assume it will have to go by paper now as they would not be able to accept another return as this shows now as an accepted return with with no figures. I just want to make sure we can get an extension on it so there are not penalties. thanks Michele
Getting a critical on California S corp extension. that a payment must be sent with the extension. Am I understanding it right that in the Lacerte program you can not file an extension without sendin...
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Getting a critical on California S corp extension. that a payment must be sent with the extension. Am I understanding it right that in the Lacerte program you can not file an extension without sending the payment with it.
thanks Michele