2
votes
1answer
13 views
S corp wages health insurance premiums attribution rules
Am I correct to add the health insurance premiums to wages for the son of an "S" corp owner due to rules of attribution for the stock ownership? The son owns no shares of his own, …
3
votes
5answers
50 views
CTPA/bookkeeper will not reliquish the QuickBooks file. What recourse does the client have?
The offer to pay for the file setup was made, and the tax preparer/bookkeeper -REFUSED!
He will not give the QuickBooks file over. This individual has claimed that the file belong …
2
votes
3answers
62 views
Reporting Tax Fraud
It has come to my attention that one of my competitors is asking tax payers to "find" more dependents to claim the child tax credit on their taxes - this way, the taxpayer gets a b …
4
votes
2answers
22 views
Remuneration to homeowners' association for public utility easement
Subdivision granted a public utility easement for a sewer line across its common ground and received payment from the utility. Should the money the subdivision received be reported …
4
votes
7answers
137 views
How much do you charge for tax returns?
I am a CPA. Most of my business is write-up and QB consulting. This is my first year offering tax return prep. Most of the work will be current clients but I am hoping to pick u …
2
votes
4answers
52 views
1099 misc, box 7 filled
I received a 1099-misc with box 7 filled with amount of $1,200 on my own name. I am not self-employed and this was an one time deal. Where should I report it?
Thank you.
2
votes
2answers
19 views
I have a taxpayer with Foreign Earned Income,Can their social security taxes be refunded.
The taxpayer qualifies for the Foreign Earned Income Exclusion and the Foreign Housing Exclusion. However, the Form 2555 is not populating correctly.
In addition, they paid Medica …
2
votes
1answer
22 views
Specific Lot/Share Identification does not match
I have a client that is selling shares of stock, and attempting to specifically identify the shares/lots he wants to sell to receive a gain.
Problem is, he is going off of his rec …
2
votes
2answers
38 views
Advice regarding basis on shares through a ESPP, related exercise gain and wash sale loss adjustment
Need some advice regarding clients with employee stock option sales, related exercise gain and wash sale loss basis adjustments.
Hello.Thank you for taking the time to read this. …
1
vote
1answer
47 views
Sch K-1 Form 1040 for 2009 received for decedent whose final return was filed in 2008
My question is in regard to a 2009 Sch K-1 Form 1040. The amount of $3033 is entered on Line 11 with a Code A indicated. I see that this is an excess deduction and should be ente …
4
votes
9answers
89 views
Pennsylvania taxes withheld on FL employee
This is bizarre and I wanted to ask if anyone else had this come up with Paychex. Employee is living and working in FL for a PA company, working from home (non statutory employee) …
1
vote
0answers
10 views
Transfer of Property with Mortgage in LLC
I need help in sorting out whether this is a taxable event and how to handle the transactions that transpired. Below is the circumstance:
1) Six individuals transferred land with …
1
vote
4answers
378 views
How do I treat form 1099-A (from Foreclosure)
I have a client who has received a 1099-A (Aquisition of Secured Property)
I have never seen this form before so I'm unsure how exactly to treat it.
Should I treat this as a 1099 …
3
votes
10answers
71 views
What do you charge for additional copies of a tax return?
By law we provide a copy of the filed return to the client. Do they feed it to their dog?
What happens is everytime they need a copy for a refi or home purchase, etc they call an …
1
vote
4answers
37 views
City Tax Software?!?!
I'm in Ohio. What municipal tax prep software can I use???
