|
AbbiTheDog posted:I had this issue pop up with one of our clients... Took about 6 months to clear up.  saltylopez posted:Mid-October is one of the big tax deadlines (extended individual returns are due today), so you may have better luck in a couple days. Ah, no wonder, thanks! sullat posted:This is essentially correct. Basically you claimed an income of X and withholding of Y . The IRS is more than happy to accept your word for X (after all, a lot of people are paid under the table and will report it on line 7), but Y needs to be verified. Figures. Plus since I capped out my social security witholdings on the first W2, I was claiming extra social security witholding on my return. The whole idea that there is a "witholding pool" - they don't even track where the money comes from, they just take it and depend on W2s to figure it out - mind blown. Anyway, I found a magic number that goes straight to the AUP department - 800-829-8310 for future reference. I faxed my W-2 in last week, and called again today. They said that they don't have my fax yet, and receiving a fax takes up to 30(!) days. Meanwhile I have 10 days to pay. Wow. I was able to put the payment on hold while they figure out that I'm not ripping them off.
|
#
?
Oct 17, 2016 22:29
|
|
|
|
| # ? May 23, 2024 05:35 |
|
|
Marvel posted:The whole idea that there is a "witholding pool" - they don't even track where the money comes from, they just take it and depend on W2s to figure it out - mind blown. For decades, Oregon didn't even bother to track withholding by EMPLOYEE paid by employers. They finally corrected that a few years ago, but that always blew my mind as well.
|
|
#
?
Oct 18, 2016 19:58
|
|
|
Well, they do track it, which is why people get these friendlygrams asking to show their claims. Besides, now it sounds like he's saying that the issue isn't the withholding, but the excess social security tax credit, which, yeah, you absolutely need to show, because your employers aren't going to figure that out for you.Marvel posted:Anyway, I found a magic number that goes straight to the AUP department - [redacted] for future reference. I faxed my W-2 in last week, and called again today. They said that they don't have my fax yet, and receiving a fax takes up to 30(!) days. Meanwhile I have 10 days to pay. Wow. I was able to put the payment on hold while they figure out that I'm not ripping them off. Only fax things to the number on your notice, since they do change. And different departments have different fax numbers.
|
|
#
?
Oct 19, 2016 02:45
|
|
|
I have a couple question on whether or not we need someone to help with our taxes. First, here's my current tax situation. -I'm married, and we both make pretty good incomes. But, all of it is from our jobs. We have maybe $200 in interest from savings accounts, that's all. -This year, we bought our first house, and we have a loan that goes with it. -I have student loans, but I'm pretty sure my income is past the point where I get to deduct anything anymore for the interest. -We each have a 401(k) through our jobs, but all our contributions are payroll deductions. This is the only place we put money for retirement, so there's nothing complicated here. -We have a high deductible health plan, and right now we contribute to our HSA using payroll deductions. So tax-wise that's easy, BUT since we're planning on having kids next year, we want to dump a chunk of money in to max out (or nearly) our contribution for this year...so now that we have to handle the taxes on that it's a little more difficult. So all that said, we are considering getting a tax adviser. Neither of us have ever itemized before, but once we discovered that state/local income/property taxes can be deducted, in addition to the interest on our home loan, we realized that we could be in for a whopper of a deduction. Something on the order of $20k worth of deductions, if we calculated our numbers correctly. That number accounts for state income tax + property tax + vehicle tax + mortgage interest. But I'm not sure if all those are 100% deductible or if there are limits or percentages that apply to them. Our withholding is based on the standard deduction, so I figure we have around $2,000 coming our way if those are all 100% deductible, even more depending on how much we dump in to the HSA. Our question is: Is this sufficient reason to hire someone to prepare our taxes? Maybe not long term, but at least for the next year or two (especially if we have kids soon) until we figure out how to navigate all this stuff. Not having itemized before, I don't know how complicated it is. We could probably figure it out, but I'm not sure how long it would take and what the risk is that we royally screw things up and end up with penalties. And then the follow up naturally is: how and when do we find someone to do our taxes? I've done some minimal research, and it seems about what I expected...find a CPA who does individual taxes, and don't use chain tax prep places. And on that, I presume we want to start looking now so if there is anything we need to do in 2016 to maximize our return we still have time to do it? Either way I'm not really sure how to locate a CPA...we don't really know anyone in our town that uses one. Maybe some people at work, but most of the people are young and don't need a tax person. Could this CPA also serve as a financial adviser if we wanted to go a step further? Or is it unlikely that a good financial adviser and good tax accountant are going to be the same person? Oh and failing all that, here's a fairly specific tax question: My wife has EE bonds that her parents got her ages ago. They're in her name, and they have matured (but are still earning interest). Is there any tax advantage to cashing those out this year since we bought a house? Her mom swears that there used to be something in the tax code where you can pay less tax on the EE bonds if you cash them out the same year you buy a house, BUT all we can find is something about using them tax-free for educational expenses. Was that ever a thing that maybe got changed? Or is it something that's buried and hard to find that we can still take advantage of? Or is this all made up? Otherwise, they're from the 90s, so the interest is miles ahead of anything else right now (one of them is like 4%). If there's no tax advantage, we were going to let them ride that interest until they stop earning or we find something better.
|
|
#
?
Oct 21, 2016 14:54
|
|
|
Nothing you have described is very complicated, and TurboTax or any other software will handle it all just fine. The HSA contribution is always a little confusing to enter in TurboTax, but everything else is very simple. You won't get a deduction for vehicle tax (it is part of state sales tax, which is an either/or with state income tax), but everything else you said is accurate. The first year you buy a house warrants some extra time spent looking at the HUD-1 closing form to make sure you accurate deduct all the interest, property tax, and points you paid during the closing as well as the rest of the year. Also, the deduction you get won't be as big as you might be thinking since every married couple gets a $12,600 standard deduction by default. Instead of that, you say you have about $20,000 in itemized deductions now - so you would only have an effective "extra" deduction of $7400 (plus the HSA contribution, because that is separate from the deduction pool). The $7400 extra deduction would probably be worth about $2000 for you. Just FYI. I don't know much about EE bonds but I have never heard of any special treatment related to their income and buying a house.
|
|
#
?
Oct 21, 2016 16:11
|
|
|
This thread is still going strong, eh?
|
|
#
?
Oct 21, 2016 16:52
|
|
|
That's good to know this isn't excessively complicated. I've been confused by HSA stuff in the past...it's not very straight forward it seems. I'm in NC, vehicles get hit with property tax every year. Nothing crazy, on the order of $350 for both our cars (or probably less since that's about the total including tags). But if we're itemizing, then that + donations + other small stuff will start to add up. So is TurboTax the go-to? I've been using TaxSlayer for years and it's worked fine, but our situation was extremely simple. It's less simple now (but apparently not worth a professional which is just fine with me), so is it worth the extra money to use TurboTax? It seems like they've been getting a lot of bad press the last few years for mistakes in their calculations. Also $2,000 is what I came up with as a potential refund if my assumptions were right...I know it's not like mega millions here, but I'm not going to let that just disappear.
|
|
#
?
Oct 21, 2016 16:58
|
|
|
DaveSauce posted:I'm in NC, vehicles get hit with property tax every year. Nothing crazy, on the order of $350 for both our cars (or probably less since that's about the total including tags). But if we're itemizing, then that + donations + other small stuff will start to add up. Only the value based tax on the vehicles is deductible and no fees. I don't know how NC does their calculations on vehicle tabs... Since you just bought a house this tax year you may want to go to a professional preparer to be sure that everything on the HUD1 gets picked up properly. Years with home sales and purchases can be a little trickier.
|
|
#
?
Oct 21, 2016 17:12
|
|
|
Kinson posted:Only the value based tax on the vehicles is deductible and no fees. I don't know how NC does their calculations on vehicle tabs... I'll have to look in to the vehicle stuff...I hope I still have the bill laying around somewhere. I assumed that the fees weren't deductible, but I'm fairly certain there's a separate line on there that is actually called a property tax, which is in addition to fees for tags. But there's several lines on there for state, county, and city crap so I may be mis-remembering. What form(s) should I look at for entering the HUD1 information? I'd like to give it a dry run to see if we can make sense of it. I know all the house buying forms were recently re-done, so I'm hoping the corresponding tax forms will reference the lines I need exactly.
|
|
#
?
Oct 21, 2016 18:05
|
|
|
DaveSauce posted:I'll have to look in to the vehicle stuff...I hope I still have the bill laying around somewhere. I assumed that the fees weren't deductible, but I'm fairly certain there's a separate line on there that is actually called a property tax, which is in addition to fees for tags. But there's several lines on there for state, county, and city crap so I may be mis-remembering. All the (deductible) HUD1 items go on the Sch A, but it's all about deciphering the HUD1 and what is deductible for you.
|
|
#
?
Oct 21, 2016 19:00
|
|
|
When deducting property taxes, how in depth do people go on analyzing their tax bill to decide what needs to be excluded?
|
|
#
?
Oct 21, 2016 20:24
|
|
|
How are you suppose to prove a HSA was used for an approved transaction? The place I got a procedure done at only took cash/check, so I had to pay with a check, then I transferred the money back to my checking account from my HSA. I assume that at some point Ill have to prove what the transfer was for?
|
|
#
?
Oct 22, 2016 18:01
|
|
|
TLG James posted:How are you suppose to prove a HSA was used for an approved transaction? The place I got a procedure done at only took cash/check, so I had to pay with a check, then I transferred the money back to my checking account from my HSA. I assume that at some point Ill have to prove what the transfer was for? Essentially only if you get audited, and the IRS doesn't have the resources to audit many people any more. I only reimbursed myself out of the HSA once, and I just made sure the keep the medical bill/receipt showing other payment method in my tax folder in case it ever comes up in the future (I doubt it ever will).
|
|
#
?
Oct 22, 2016 18:12
|
|
|
Droo posted:Essentially only if you get audited, and the IRS doesn't have the resources to audit many people any more. I only reimbursed myself out of the HSA once, and I just made sure the keep the medical bill/receipt showing other payment method in my tax folder in case it ever comes up in the future (I doubt it ever will). This doesn't stop them though. Which just leads to audits taking over a year to be resolved.
|
|
#
?
Oct 22, 2016 20:06
|
|
|
TLG James posted:How are you suppose to prove a HSA was used for an approved transaction? The place I got a procedure done at only took cash/check, so I had to pay with a check, then I transferred the money back to my checking account from my HSA. I assume that at some point Ill have to prove what the transfer was for?
|
|
#
?
Oct 23, 2016 18:07
|
|
|
OK, lot of things here, see what I can tell you...DaveSauce posted:I have a couple question on whether or not we need someone to help with our taxes. OK, personal bias considering I AM a tax preparer, but if you really aren't sure I think it's worth going to a preparer at least the first year to make sure you know what's going on. Tax software is fairly decent and getting better all the time, but too much of tax work still depends on knowing what questions you have to ask. It is just too drat easy to miss something important simply because you don't know to think about it/research it. Again, obviously I'm biased to think us preparers are good things, but there is virtue in going to an expert at least once so you understand what is going on. quote:And then the follow up naturally is: how and when do we find someone to do our taxes? I've done some minimal research, and it seems about what I expected...find a CPA who does individual taxes, and don't use chain tax prep places. And on that, I presume we want to start looking now so if there is anything we need to do in 2016 to maximize our return we still have time to do it? Either way I'm not really sure how to locate a CPA...we don't really know anyone in our town that uses one. Maybe some people at work, but most of the people are young and don't need a tax person. Again, personal bias talking since I work at H&R Block, but don't diss on us chain places entirely  . I admit the real headache with chain places is it's hard to know who you're getting; I would cheerfully recommend most of the tax pros in my district here (or at least would know who to direct you to for handling certain harder questions, although your particular stuff is items I handled my first year without issues) but obviously I can't speak for every office everywhere, and things get complicated with franchise offices which can all have their own way of doing things. Then again random CPAs is about as risky in guessing preparer quality; if people proclaim independent CPAs are always better and cheaper I can safely say from my experience reviewing their work and pricing AHAHAHAHAHAHAHAHAHA gently caress no they ain't. Really recommendations from others more local to you is the way to go; most people do not do their own taxes so you might be surprised who knows somebody. Check with people in similar tax situations (homeowners and such) by preference for best results probably. Do be upfront with what your tax issues are when initially contacting somebody so the preparer knows what to be thinking about (or occasionally frantically research...). Also, tax prep in person is expensive compared to software; my completely off-the-cuff guess for your state and federal taxes would probably be around $200, but that's a very shaky estimate (and based on my area, to boot) and fees go ALL over the board. Most places charge based on complexity of forms, some do it by hour. Some places (including H&R Block) do have a service called a refund anticipation check to par for the tax prep out of the refund instead of out of pocket when you file, but there's an extra surcharge for that. You will need to bring all your actual tax reporting forms in, not just the numbers; any ethical tax place will require the officially reported numbers when available to you.Main considerations I would consider are reliability ones. Avoiding sleazy fly by night is a good suggestion in any area but it goes double for tax preparation; DO NOT USE A SKETCHY TAX PRO. A bad car repair place will wreck your car, a bad preparer will wreck your LIFE considering it requires access to all the info needed for identity theft to do taxes. You also want to see what guarantees they have in case of error/audit. Say what you like about H&R Block, if WE mess up we can afford to guarantee paying back any penalties and interest you get charged as a result, not everybody does that. At a minimum they should drat well not charge you for their mistakes, I get rather irked at the stories I hear from some clients who got charged for an amendment needed because the CPA providing it screwed up the first time. If it's something the client messes up telling the preparer that's one thing, but if the mistake is on our end we drat well aren't going to make you pay MORE money to fix things. Also, make sure they are available past actual tax season in case you have problems; since most tax preparation money is earned January - April, keeping offices open outside that time frame is an expense not everyone will take. Even H&R Block generally closes most of its locations in the off-season and directs people to a couple offices they keep open. On the financial advisor thing, that's kinda touch and go. They are definitely different skills. I can inform you of the tax consequences of various investments and such, but in-depth information is quite beyond me in most cases; return on investment obviously involves a lot more than "how is it taxed?". Some CPAs probably do offer that service, even more probably can recommend somebody, but expecting every preparer to be a good financial advisor is probably not a good idea, they are different things. Assuming every tax CPA is good at financial advising is like expecting a patent lawyer to be a great criminal defense attorney; related skills and they probably know SOMETHING about it, buuuut not your best choice for it unless they've specifically worked at both. quote:Oh and failing all that, here's a fairly specific tax question: My wife has EE bonds that her parents got her ages ago. They're in her name, and they have matured (but are still earning interest). Is there any tax advantage to cashing those out this year since we bought a house? Her mom swears that there used to be something in the tax code where you can pay less tax on the EE bonds if you cash them out the same year you buy a house, BUT all we can find is something about using them tax-free for educational expenses. Was that ever a thing that maybe got changed? Or is it something that's buried and hard to find that we can still take advantage of? Or is this all made up? They're probably confusing being able to pull out of IRAs for first time home buying without paying the 10% penalty. EE bonds CAN have the interest income written off for qualified educational expenses, but anything you write off that way can't be used for American Opportunity/Lifelong Learning Credit. HSAs are generally handled through Form 8889, I'd check the instructions here for detail. Any money above your contributions through paychecks would be subtracted out from your taxable income as an adjustment on the front of the 1040 (line 25, if memory serves). As for itemizing deductions, obviously the best things to consult are the instructions for Schedule A. As a homebuyer Publication 530 also has some good info. In general, these are the things to double-check for itemized deductions: 1. Medical expenses - anything paid out of pocket that is not reimbursed by insurance or other source. This includes insurance premiums themselves, co-pays/deductibles/et al., even miles driven for medical procedures have a deductible value. Only amounts above 10% of your adjusted gross income actually apply, mind you, so most people won't get a deduction for this unless they're elderly or had a VERY bad year health-wise, but it's worth keeping track of just in case. 2. Taxes paid to a state. This includes either income tax (generally withheld on the W-2) or sales tax, depending on your location. Real estate taxes are also deductible, and if you are paying them out of your home mortgage with an escrow they will be reported along with the mortgage interest; otherwise, save copies of the real estate tax bills (some places have them available online as well). Property taxes, as others have noted, only applies to those based on the value of the property in question, not flat fees. So to use car taxes for example (a common one), if you pay a set $20 fee for license tags or similar that's nondeductible, but if the tax is based on how much the car is worth THAT tax is deductible. NC if my memory serves DOES have such a tax, but I get so few of those returns I can't be sure, recommend double-checking. Those are probably the only ones you'll have to deal with. Note that state rebates effectively become taxable income next year if you itemize state tax; most software pretty much automates the calculation though if you used it the previous year. 3. Mortgage interest. Normally this info should be reported specifically to you on a Form 1098 (example here) from your bank, and includes points paid for the mortgage along with any mortgage insurance premiums and real estate taxes being paid out of the mortgage escrow. The HUD-1 is a little confusing for interpreting; TaxSlayer has a pretty good chart here for reference. Every year after the first one you should be able to do with just the Form 1098 though. Note "mortgage" includes any loan secured by your primary or secondary residence, home equity loans and whatnot also count and should in theory send you a 1098 as well; if they don't, keep track of them also (though if no 1098 confirm they are secured by your home). 4. Charitable contributions to qualified charitable organizations. Any cash contributions above $250 you need a letter from the charitable organization for proof, otherwise your financial documentation should suffice (or things like receipts if you donate a $1 extra on purchases and the like). Non-cash contributions like Goodwill are generally based on fair market value or the value they credit you; if they aren't an organization that gives you a receipt for the value you can usually use some of the various guideline lists they provide like this one here. If it's over $500 total for the year you'll need to fill out a Form 8283 which includes information on where and when you did the donation, so save those little receipt things if you get them or write the info down if you don't. 5. Casualty/theft losses. Something major got broken or stolen and not reimbursed, hopefully you won't need this (but keep track if something happens). 6. Miscellaneous deductions. Bunch of various catch-all things that only count if over 2% of your adjusted gross income. Primary source of these is usually unreimbursed employee business expenses; if you pay something out of pocket for your job and are NOT paid back for it by the company, it goes here. This includes things like union dues, uniforms, and any tools required (as well as any home office set up for the convenience of the employer and business millage, but those are both kinda complicated so I'd probably recommend professional help if you have them). Others that may apply to you are tax preparation fees (you pay somebody to help prepare it, you deduct it next year), investment fees, and safe deposit box rental fees. 7. Other miscellaneous deductions. Various items not subject to that 2% AGI thing mentioned above. Main one most people run into is if you have gambling winnings you can write off gambling losses up to the amount of the winnings on Schedule A. Keep a careful journal of where and when you played and how much you lost each time if going this route, but of course usually only applies if you happen to win big while gambling. Note some states (including North Carolina) will let you apply itemized deductions to their income tax as well. The amount is different from the federal (they won't obviously let you take credit for taxes paid to THEM), but can obviously still help there as well.
|
|
#
?
Oct 23, 2016 22:04
|
|
|
MadDogMike posted:Some places (including H&R Block) do have a service called a refund anticipation check to par for the tax prep out of the refund instead of out of pocket when you file, but there's an extra surcharge for that Those refund anticipation loans are a predatory scam, which is one of the reasons why I tend to have reservations recommending the big chain outfits. Not to get on a high horse, of course. I help multinationals pay as little tax as possible, which is a pretty dubious way to make a living. BTW, Your tax preparer should never be your financial advisor, ever.
|
|
#
?
Oct 24, 2016 03:30
|
|
|
SiGmA_X posted:When deducting property taxes, how in depth do people go on analyzing their tax bill to decide what needs to be excluded? It's deductible unless it is an assessment for a betterment of the property. Example 1: You're assessed for replacement of water main and repair of road after - Deductible Example 2: You're assessed for installation of new sidewalks - Not Deductible (added to basis of home)
|
|
#
?
Oct 24, 2016 15:11
|
|
|
Kinson posted:Example 2: Really? Sidewalks seem like they would hurt property value because they typically add liability and the care of them while providing no immediate value to a homeowner.
|
|
#
?
Oct 24, 2016 15:21
|
|
|
baquerd posted:Really? Sidewalks seem like they would hurt property value because they typically add liability and the care of them while providing no immediate value to a homeowner. Is it not the norm for the homeowner to be responsible regardless? My mom's house has city sidewalk and she still has to fix it when it pops up and cracks.
|
|
#
?
Oct 24, 2016 15:50
|
|
|
NancyPants posted:Is it not the norm for the homeowner to be responsible regardless? My mom's house has city sidewalk and she still has to fix it when it pops up and cracks. Right. It sounded like the situation is that a person is being taxed for a sidewalk that the city added and can't deduct that expense because it's an improvement. I disagree that it's an improvement and wonder how that is determined.
|
|
#
?
Oct 24, 2016 15:54
|
|
|
baquerd posted:Right. It sounded like the situation is that a person is being taxed for a sidewalk that the city added and can't deduct that expense because it's an improvement. I disagree that it's an improvement and wonder how that is determined. You're over thinking it. If it's a repair it's deductible if it's a new item it's not.
|
|
#
?
Oct 24, 2016 21:13
|
|
|
DaveSauce posted:
This is a little old but I would figure I should weigh in on this. My firm, and my own belief are that these two people should not be the same. There is a strong conflict of interest for me as a CPA to give you good advice if I am also making a cut on the side with what you invest in. I think with the new DOL regs for retirement accounts this will basically eliminate all the mom and pop cpa/investment firms. But either way, I would strongly urge you to keep you investment brokering and etc. separate from your CPA. /endrant
|
|
#
?
Oct 26, 2016 21:20
|
|
|
Kinson posted:You're over thinking it. If it's a repair it's deductible if it's a new item it's not. Unless its under $2,500 , yadda yadda etc etc.
|
|
#
?
Oct 26, 2016 21:20
|
|
|
Lord of Garbagemen posted:Unless its under $2,500 , yadda yadda etc etc. No, you're confusing new business de minimus regs and property tax on the Sch A.
|
|
#
?
Oct 27, 2016 00:34
|
|
|
I'm going to be doing the bookkeeping for two restaurants my family owns, with about 35 employees. We will have an accountant who will handle the taxes. Does anyone have a recommendation for payroll software I could use which wouldn't be completely expensive? The purpose of me doing this is to try to save money, and so spending $2000 per year on payroll software doesn't work.
|
|
#
?
Oct 27, 2016 12:15
|
|
|
Orange Sunshine posted:I'm going to be doing the bookkeeping for two restaurants my family owns, with about 35 employees. We will have an accountant who will handle the taxes. Does anyone have a recommendation for payroll software I could use which wouldn't be completely expensive? The purpose of me doing this is to try to save money, and so spending $2000 per year on payroll software doesn't work. As I said in the other thread you posted this question in: just hire the same accountant who does the payroll tax filings to do the payroll. You'll likely spend less than buying software to do it and they'll likely gently caress it up less than you would. Also, have them do Form 8027 since with that many employees you will have to file it. For instance my firm would charge between $2,500 and $3,000 or so for a year to do this payroll assuming bi-weekly. More if you have direct deposit or wage garnishments (wage garnishments are common in your industry). That would include the tax filings, W2/3 filings, tax payments, UI payments, etc... And it's off your plate then. You just report the hours. A good service will help make sure you are compliant with labor and ACA laws as well. Don't get ADP or Paychex; they both suck. Not that I'm trying to sell you service. I don't want your business.
|
|
#
?
Oct 27, 2016 15:24
|
|
|
Kinson posted:I don't want your business. That sounds like something a salesman would say... 
|
|
#
?
Oct 27, 2016 15:31
|
|
|
Moneyball posted:That sounds like something a salesman would say... I'm not a salesman! I'm an accountant. Don't call me I don't want to talk to people today.
|
|
#
?
Oct 27, 2016 15:58
|
|
|
Moneyball posted:That sounds like something a salesman would say... Payroll is a huge pain in the rear end, especially for a business that will have high employee turnover. I've stopped taking new payroll clients at my firm due to the hassle.
|
|
#
?
Oct 27, 2016 18:29
|
|
|
AbbiTheDog posted:Payroll is a huge pain in the rear end, especially for a business that will have high employee turnover. I've stopped taking new payroll clients at my firm due to the hassle. I don't like payroll, but I only touch it once for the initial review. After that it's the bookkeepers problem. Keeps them busy, but it's not really a money maker for the firm. It's more that we prefer to do it in house for our clients so we have some quality control.
|
|
#
?
Oct 27, 2016 18:39
|
|
|
Kinson posted:I don't like payroll, but I only touch it once for the initial review. After that it's the bookkeepers problem. Keeps them busy, but it's not really a money maker for the firm. It's more that we prefer to do it in house for our clients so we have some quality control. Ah, quality control. Must be lovely when you get unclear info you're expected to work from to know exactly who to strangle for the problem! 
|
|
#
?
Oct 27, 2016 20:31
|
|
|
Kinson posted:As I said in the other thread you posted this question in: just hire the same accountant who does the payroll tax filings to do the payroll. You'll likely spend less than buying software to do it and they'll likely gently caress it up less than you would. Also, have them do Form 8027 since with that many employees you will have to file it. please listen to this guy. you will save yourself so much time and headache, and probably money after you bring it to your cpa to fix all the mistakes at year end.
|
|
#
?
Oct 27, 2016 20:55
|
|
|
MadDogMike posted:Ah, quality control. Must be lovely when you get unclear info you're expected to work from to know exactly who to strangle for the problem! I figure I make more money fixing the bookkeepers' payroll mistakes than we would have made doing it right the first time.
|
|
#
?
Oct 27, 2016 21:45
|
|
|
Orange Sunshine posted:I'm going to be doing the bookkeeping for two restaurants my family owns, with about 35 employees. We will have an accountant who will handle the taxes. Does anyone have a recommendation for payroll software I could use which wouldn't be completely expensive? The purpose of me doing this is to try to save money, and so spending $2000 per year on payroll software doesn't work. What does your family currently pay for bookkeeping services?
|
|
#
?
Oct 27, 2016 23:00
|
|
|
SiGmA_X posted:Sounds like it would be cheaper to outsource it to me. About $1000 per month to our accountant to do the taxes, payroll, monthly profit and loss statements.
|
|
#
?
Oct 27, 2016 23:42
|
|
|
After the next president elected, how soon does their tax plan get implemented? Like are their brackets automatically put in place for the 2017 calendar year, or is it more complicated than that? Hillary's proposed tax credit for health care exceeding 5% of my income might help me tremendously, but I'm taking it that wouldn't be a Day 1 thing, right? I have to choose my health plan for 2017 by mid-November, and if the tax credit is guaranteed for 2017 I might be able to downgrade to a bronze plan comfortably.
|
|
#
?
Oct 28, 2016 03:14
|
|
|
EugeneJ posted:After the next president elected, how soon does their tax plan get implemented? I assume this is a joke, but I see you are a trump supporter so I figured I should check... are you seriously asking this or are you joking?
|
|
#
?
Oct 28, 2016 03:51
|
|
|
I'm serious
|
|
#
?
Oct 28, 2016 03:55
|
|
|
|
| # ? May 23, 2024 05:35 |
|
|
EugeneJ posted:I'm serious https://www.youtube.com/watch?v=Otbml6WIQPo
|
|
#
?
Oct 28, 2016 04:01
|
|
