I have a client who has a 28 yr old son.The son owes IRS from 2022 and 2023.Son had $0 Income in 2024 and lived with parents the entire year, providing none of ... read more
Hello friends! As the subject line says, this client has penalties for both failure to file timely and failure to pay. Couple of questions. In Pro Connect, is i... read more
2023 taxpayer had simple side job W-2 that the employer never correctly sent to SS. The IRS denied the $1800 withholding. We jumped through all the hoops and ev... read more
I understand standard depreciation can be deferred with a 1031 Exchange but what happens to bonus depreciation taaken on relinquished property?Is bonus deprecia... read more
Client had extension form prepared and filed by Block- found out it was prepared incorrectly with errors and came to me to complete and file return. How do I at... read more
Hi All, Does anyone know who I can talk to about the major mess Lacerte caused me in January of 2025, with the 2024 rollout? Lacerte deleted my entire Firm. I ... read more
Did you know about this stupid law? I didn't. From Bloomberg: The Atlanta Braves, the country’s only publicly traded Major League Baseball team, is facing off a... read more
(NYT) The acting commissioner of the Internal Revenue Service is being replaced after Treasury Secretary Scott Bessent complained to President Trump that the la... read more
Hello, I have a client who contributed the max to a solo 401k for 2024. I filed for an extension while the client was waiting for some additional documents. The... read more
Bloomberg reports: About 20,000 IRS workers—roughly one-fifth of the agency—are taking the Trump administration’s second deferred resignation offer, according t... read more
California filer; s-corp, single shareholder, business is a truck driver, owner operatorClient decides to close down the business in 2024, started in 2021. Clie... read more
I have a client who contributed to a ROTH IRA for his spouse in 2024 for $15K, $7500 for 2023 before 4/15/24 and $7500 for 2024 which as soon as I found out abo... read more
Do I need to dispose of assets on the asset entry worksheet on a taxpayer's final tax return on the date of death, with $0 sales price? The assets are going to ... read more
