Author Topic: any accountants out there that i can ask a question?  (Read 247280 times)

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #1800 on: January 23, 2020, 03:32:25 PM »
i believe that if you pay estimated taxes based on last years income even if you end up being short there are no penalties but if you pay estimated taxes based on your projections and you projecy below last years income if you are more then a certain percent off you can owe penalties
I agree.  But you can start by paying the lower amount, and increase it later in the year if you need to.

Offline DontGiveUp!!

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Re: any accountants out there that i can ask a question?
« Reply #1801 on: January 31, 2020, 01:02:57 AM »
if im getting paid per diem  does that count towards income eligibility for programs?

Offline zh cohen

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Re: any accountants out there that i can ask a question?
« Reply #1802 on: February 06, 2020, 05:45:29 PM »
Probably the wrong thread for this, but has anyone used Credit Karma to e-file?

Offline Josef.koney

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Re: any accountants out there that i can ask a question?
« Reply #1803 on: February 06, 2020, 07:42:06 PM »
Anyone know a good accountant for someone in Miami Beach? Thanks!

Offline Shmobaum

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Re: any accountants out there that i can ask a question?
« Reply #1804 on: February 06, 2020, 07:49:50 PM »
Anyone know a good accountant for someone in Miami Beach? Thanks!
Jack Levine

Offline nescafe

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Re: any accountants out there that i can ask a question?
« Reply #1805 on: February 06, 2020, 08:48:57 PM »
Probably the wrong thread for this, but has anyone used Credit Karma to e-file?
🙋‍♂️

Offline zh cohen

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Re: any accountants out there that i can ask a question?
« Reply #1806 on: February 07, 2020, 08:51:19 AM »

Offline nescafe

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Re: any accountants out there that i can ask a question?
« Reply #1807 on: February 07, 2020, 01:45:46 PM »
Happy with it?
Last year I actually found an issue with how it was calculating a certain credit. This year it was working just fine

Offline zh cohen

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Re: any accountants out there that i can ask a question?
« Reply #1808 on: February 09, 2020, 12:21:14 AM »
Last year I actually found an issue with how it was calculating a certain credit. This year it was working just fine

Thank you. In case anyone comes across this, they don't support clergy/parsonage.

Offline shwarmabob

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Re: any accountants out there that i can ask a question?
« Reply #1809 on: February 10, 2020, 02:40:29 PM »
can I claim an adult son as a dependent if he is away in yeshiva in Israel and I provided more than half of his income?
He is a full-time student under age 24 but his yeshiva is not a "college".

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #1810 on: February 10, 2020, 03:12:33 PM »
Can any child over 18 be claimed as a dependent?

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1811 on: February 10, 2020, 04:00:27 PM »
can I claim an adult son as a dependent if he is away in yeshiva in Israel and I provided more than half of his income?
He is a full-time student under age 24 but his yeshiva is not a "college".
yes, only worth $500 nowadays
you cant get the American Opportunity credit without a 1098T from an accredited institution

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1812 on: February 10, 2020, 04:03:26 PM »
Can any child over 18 be claimed as a dependent?
Age Test
To meet this test, a child must be:
Under age 19 at the end of the year and
younger than you (or your spouse if filing
jointly),
A student under age 24 at the end of the
year and younger than you (or your spouse
if filing jointly), or
Permanently and totally disabled at any
time during the year, regardless of age.

Offline nucheiner

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Re: any accountants out there that i can ask a question?
« Reply #1813 on: February 10, 2020, 11:31:37 PM »
Is the Savers Credit based at all on the amount of dependants claimed or is it solely based on income numbers?

( It'd seem that having dependants actually reduces the availability of this credit as it is not refundable and the availability of other credits make it almost impossible to get the 50% for sure)

Offline dovy2

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Re: any accountants out there that i can ask a question?
« Reply #1814 on: February 11, 2020, 09:09:55 AM »
When filling a 1040x, better to send it sooner, or wait for refund check, cash it, then send them a check if the difference?

Offline A3

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Re: any accountants out there that i can ask a question?
« Reply #1815 on: February 11, 2020, 09:05:16 PM »
When filling a 1040x, better to send it sooner, or wait for refund check, cash it, then send them a check if the difference?
If you cash their check and you owe money after you will be charged interest and possibly penalties.
Its ok to get the refund check, dont cash it. Wait for the new assessed amount and send back the check.

Offline dovy2

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Re: any accountants out there that i can ask a question?
« Reply #1816 on: February 11, 2020, 09:51:23 PM »
Wait for the new assessed amount and send back the check.
Thanks.
I did it with h&r and they prepared a paystubs with the amount owed.. but they didn't do that for the NY return.. does NY get updated from the IRS, or do I need to I file a separate NY ammended? (I'm not sure if HR did it for me).
Can I just send NY a check for the difference amount (between the amount h&r showed me last time and the amount it shows now?

Offline A3

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Re: any accountants out there that i can ask a question?
« Reply #1817 on: February 11, 2020, 10:30:55 PM »
Thanks.
I did it with h&r and they prepared a paystubs with the amount owed.. but they didn't do that for the NY return.. does NY get updated from the IRS, or do I need to I file a separate NY ammended? (I'm not sure if HR did it for me).
Can I just send NY a check for the difference amount (between the amount h&r showed me last time and the amount it shows now?
Amended NY as well. But I believe the Amended NY can be E-filed.

Offline TheSlightEdge

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Re: any accountants out there that i can ask a question?
« Reply #1818 on: February 13, 2020, 12:55:22 AM »
Student here. Accountant in 2017 forgot to include my tuition expense which (I think) would allow me to get a $2,000 credit via the Lifetime Learning Credit. Only got a $314 refund that year. If I file an amended return, do I receive the $2000? Thanks!

Offline AtallD

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Re: any accountants out there that i can ask a question?
« Reply #1819 on: February 13, 2020, 10:14:11 AM »
Student here. Accountant in 2017 forgot to include my tuition expense which (I think) would allow me to get a $2,000 credit via the Lifetime Learning Credit. Only got a $314 refund that year. If I file an amended return, do I receive the $2000? Thanks!
No - it is a non-refundable credit - can only be used to offset tax due.