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Well hey, just got my enrolled agent application back successfully; now I can be wrong with authority! A little shocked though, it took just 21 days from submission to approval as far as I can tell, which seems crazy fast since I was led to expect 90 days or so. They running through them faster, or is my theory all the background checks they had to do for my CAA status reduced the time they needed to investigate more likely?
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Dec 12, 2023 01:24
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smackfu posted:My main worry is missing a form entirely. Honestly “not knowing you needed to file something” is one of the most common things I see people mess up themselves, even with software sometimes. dpkg chopra posted:I used to have the same mindset and then last year I hosed up one step in one the worksheets which gave me a number that was wrong in a non-obvious way which almost led me to claim a significant credit I didn’t actually qualify for. Yeah, my mom does my parents’ taxes herself from the forms (usually makes a spreadsheet to do the math checking), but she actually went through the H&R Block preparer training once. Had to see a professional a few times for advice still.
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Jan 6, 2024 18:14
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Subvisual Haze posted:For the majority of tax filers you probably just put in your W2 taxable wages, and maybe a couple extra lines for stuff like interest income, HSA funding/withdrawals, IRA contributions/conversions, and maybe if people are being fancy dividends/capital gains on taxable investments. Then subtract the standard deduction in >90% of cases and voila. Yeah, with the caveat that if you CAN'T figure out how it worked, get some sort of support, software or human. Some people just have trouble or just don't want to bother, and that's not a moral failing; just make sure you do what you need to get it right. I say this primarily because I have seen just how bad personally prepared taxes can get even in the hands of otherwise smart people, and failing to get support when you need it is roughly equivalent to trying clueless do-it-yourself repairs, only possibly more expensive. Don't be afraid to do it yourself, but be sure you're confident you understand what you are doing. Admittedly the other headache is the government seem to keep changing things a lot in the last few years (the Covid stimulus stuff seems to have caused a lot of people agony in particular), so I don't blame the people who aren't required to do continuing education on this stuff having issues sometimes.
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Jan 7, 2024 08:24
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H110Hawk posted:If there is one thing I learned in boy scouts it's that if the scout master didn't see it it didn't happen. Most of my Boy Scouts experience tended to be about how many things you can burn in a campfire as I recall.
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Jan 12, 2024 20:31
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neogeo0823 posted:For her, I think she thinks that her business needs to be as separate from the rest of our finances as possible, in every way it can be? This is one of those things where I am very certain she's not correct, but I haven't been able to articulate to her why she's not correct. She rents a couple of spaces around town to do beauty services; She's not even an LLC or anything. She’s mixing up something else. For a business when it comes to BANKING stuff it’s good to keep things separated because that way you prevent any confusion between personal and business expenses, but that doesn’t extend to actual tax filing. Especially at that level of income you are basically always better off filing jointly. EDIT - Or, if rephrasing this helps explain better, you keep the banking stuff separate so it’s accurate when you actually DO mix your financial information on the tax return. MadDogMike fucked around with this message at 17:35 on Feb 10, 2024 |
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Feb 10, 2024 17:33
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Ungratek posted:I was gonna say, $1k is insanely cheap. I won’t touch under 10k and usually need a business reason for under 20k H110Hawk posted:My various us+au coworkers have been paying around $5k/year to get their taxes done. You're getting off easy if someone will touch it for $1k, unless they mean literally answering the question. Which you haven't even posed yet. *Looks at his people getting stuff in the $300-$550 range pricing for most foreign tax stuff* Welp, guess things vary quite a bit out there, sheesh. Granted, most of mine don't get HYPER complicated; think the most expensive returns I do a year are for one client who has a real estate partnership and like six personal rental properties, and that totals like $1600 or so for both (they're also very well organized with their info, bless their soul, or I'd probably go mad doing it). Precambrian Video Games posted:Anyway, as I said I had two brief consultations where I was given similar estimates and one said no problem we'll file you as a full year resident and the other said no you can't even choose to do that, hence my confusion. I'm leaning towards "could file as a full year resident" (you'd have to include the Canadian income as US income that way, but then you could do Form 1116 to write off the Canadian tax from the US taxes), but I'll be frank and say dual status stuff is the one thing I'm weakest on foreign-tax wise, so take my opinion with a grain of salt (and if anyone better informed wants to chime in, please do).
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Feb 18, 2024 04:25
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H110Hawk posted:(just a goon not a tax person) Generally the H&R Block claims stuff is when a mistake makes you pay money to fix it, so I don't think that would work per se. But why the people at that office are somehow convinced they can't do an amendment for free to fix it anyway is beyond me though, I've done those for our people in these cases. Maybe they just meant they can't get you in immediately? I admit I'm currently booked solid about a week and a half out, and this with plenty of overtime scheduled too; this isn't wildly unusual for a lot of the experienced preparers at Block. But as mentioned by Emily Spinach you have until May to mail it anyway. If they're just not helping you at all feel free to PM me, I can see if there's a way to help on my end maybe. Just to confirm though, you say this is untaxable pay due to an injury? Was it workmans comp, or some kind of legal settlement? runawayturtles posted:Second, less dumb, question: My wife has a bit of nonemployee compensation from teaching doctors how to use certain medical devices. It seems this is considered self-employment business income, but does it count as a specified service business? Yeah, I'd say it probably qualified as specified business, though in practical terms unless your total income is quite big there won't be any impact (specified businesses have sort of an income cutoff for qualified business income deduction, but it kicks in around $340,000 or so for MFJ if memory serves and the phase out isn't total unless you're $100,000 past that).
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Feb 19, 2024 04:14
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Canine Blues Arooo posted:I have an issue very similar to this: Yep, that's about how it works, I've seen a couple similar situations and that's about the only way to fix it.
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Feb 21, 2024 02:32
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KaLogain posted:I did, but now I'm thinking he may not be very familiar with Backdoor Roth IRAs. Might have screwed up then, yeah. Upshot is back door Roth uses Form 8606 to report everything; Part I shows the traditional IRS was made with nondeductible contributions, Part II shows the actual Roth conversion.
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Mar 22, 2024 18:45
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| # ¿ May 12, 2024 14:39 |
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Flora Finching posted:I was on SDI for two months in 2023. I owe a bunch in taxes, is that because they weren't deducted from the disability payments? Possibly; how were the disability payments reported to you? Or failing that, where did they go on the return? quote:Also around the time I was off/returning to work my employer forgot to pay me a bunch of money and I just received it. Would this count as 2023 income and if so, should I ask for a revised W2? Assuming you're cash basis like most people, what counts is when the money is actually paid, so that would probably be on a W-2 for 2024.
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Mar 25, 2024 08:34
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