Author Topic: any accountants out there that i can ask a question?  (Read 264908 times)

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #2060 on: October 12, 2021, 11:34:48 PM »
What do I put in Box 20 on the K-1?

 

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Online ushdadude

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Re: any accountants out there that i can ask a question?
« Reply #2061 on: October 13, 2021, 03:09:52 PM »
Looking into the new NY PTET. At assuming the math works out,the only downside I really see is cash flow. Am I missing anything?
Trolls will always post stupid replies

Online ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #2062 on: October 13, 2021, 03:32:32 PM »
Looking into the new NY PTET. At assuming the math works out,the only downside I really see is cash flow. Am I missing anything?

I am having a similar question. Haven't filed 2020 return yet for my S corp (or personal) and I really have no idea where things are at. If the tax is due one way or the other (or if there's not tax due), what's the downside to making the election?
I've been waiting over 5 years with bated breath for someone to say that!
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Online cgr

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Re: any accountants out there that i can ask a question?
« Reply #2063 on: October 13, 2021, 03:45:01 PM »
Looking into the new NY PTET. At assuming the math works out,the only downside I really see is cash flow. Am I missing anything?
Don't both require estimated tax anyway? How would cash flow be affected?

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #2064 on: October 14, 2021, 11:01:13 AM »
Got A letter from the IRS pertaining to a 941 from Q4 2020

I'm getting a fine for late payments. This is a mistake and it seems they have payments allocated wrong.

I'm trying to call them for a few weeks already. Keep on getting we are too busy to take your call back later message.

Does anyone know how to get someone on the phone or a different way of handling this?
How Do I Reach a Real Person at the IRS?
 Before calling the IRS, take a deep breath with me.
Please remember that there are some wonderful people working at the IRS. They have families and souls, just like the rest of us. They pay taxes and have to follow the same laws that we do.
With that being said, here are the steps you need to take to reach a real person on the phone at the IRS.
 
When to call
The IRS is available from 7 a.m. 7 p.m. Monday thru Friday. The best time to call is early in the morning.
Make sure you're prepared
Before you call, make sure you have all of the information that you need.
   Social Security cards and birth dates for those who were on the return you are calling about.
   An Individual Taxpayer Identification Number (ITIN) letter if you don't have a Social Security number (SSN)
   Filing status Single, Head of Household, Married Filing Joint or Married Filing Separate
   Your prior-year tax return. We may need to verify your identity before answering certain questions
   A copy of the tax return you're calling about
   Any letters or notices the IRS sent you
 How do you speak to a live person at the IRS?
1.   The IRS telephone number is 1-800-829-1040.
2.   The first question the automated system will ask you is to choose your language.
3.   Once you've set your language, do NOT choose Option 1 (regarding refund info). Choose option 2 for "Personal Income Tax" instead.
4.   Next, press 1 for "form, tax history, or payment".
5.   Next, press 3 "for all other questions."
6.   Next, press 2 "for all other questions."
7.   When the system asks you to enter your SSN or EIN to access your account information, do NOT enter anything.
8.   After it asks twice, you will be prompted with another menu.
9.   Press 2 for personal or individual tax questions.
10.   Finally, press 4 for all other inquiries. The system should then transfer you to an agent.

Offline ari3

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Re: any accountants out there that i can ask a question?
« Reply #2065 on: October 14, 2021, 06:17:15 PM »
would I be able to claim yeshiva tuition for my preschool age child for the child care credit?

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Re: any accountants out there that i can ask a question?
« Reply #2066 on: October 14, 2021, 06:49:05 PM »
would I be able to claim yeshiva tuition for my preschool age child for the child care credit?
Always worked for me. 
If it benefits even just one fellow DDFer, its worth posting it.

Offline Smartypantz

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Re: any accountants out there that i can ask a question?
« Reply #2067 on: October 14, 2021, 06:52:47 PM »
Always worked for me.

Until what age?

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Re: any accountants out there that i can ask a question?
« Reply #2068 on: October 14, 2021, 07:17:08 PM »
Until what age?
5 (and Day Camp for the older kids)
If it benefits even just one fellow DDFer, its worth posting it.

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2069 on: October 15, 2021, 06:54:53 AM »
Until what age?
The year prior to 1st grade (whatever you call it in your localle) does not qualify. Everything before that does.

Offline Jack out of the box

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Re: any accountants out there that i can ask a question?
« Reply #2070 on: October 15, 2021, 06:56:11 AM »
5 (and Day Camp for the older kids)
Day camp and certain other items until age 13. Sleep-away camp does not qualify.