Author Topic: any accountants out there that i can ask a question?  (Read 490497 times)

Offline jackofall

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Re: any accountants out there that i can ask a question?
« Reply #960 on: April 13, 2016, 10:21:24 PM »
Same story and i was told no (and I paid with checks)
Yes. But you can't efile. Paper file with name and address.
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Offline yomo

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Re: any accountants out there that i can ask a question?
« Reply #961 on: April 14, 2016, 02:51:00 AM »
Is it a red flag if you itemize 18% of your AGI to charity?

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Re: any accountants out there that i can ask a question?
« Reply #962 on: April 14, 2016, 06:26:26 AM »
Is it a red flag if you itemize 18% of your AGI to charity?

What AGI range?

While it might be a red flag, I think that unless there's some beef in the return, IRS wouldn't bother (i.e. If it's 50k income on a W-2, even if they end up disallowing all the charitable deductions, how much would they collect? And it might cost much more to actually audit that).
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Offline 4yourinfo

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Re: any accountants out there that i can ask a question?
« Reply #963 on: April 14, 2016, 10:18:16 AM »
Yes. But you can't efile. Paper file with name and address.
Sounds like borderline miseerah

Offline ckmk47

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Re: any accountants out there that i can ask a question?
« Reply #964 on: April 14, 2016, 10:34:53 AM »
Is it a red flag if you itemize 18% of your AGI to charity?
If you send in copies of your receipts with your return, even though you don't need to, it might make them lower the flag immediately.
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Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #965 on: April 14, 2016, 12:43:17 PM »
If you send in copies of your receipts with your return, even though you don't need to, it might make them lower the flag immediately.

Where are you getting this from?

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Re: any accountants out there that i can ask a question?
« Reply #966 on: April 14, 2016, 12:44:43 PM »
Where are you getting this from?
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Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #967 on: April 14, 2016, 01:43:27 PM »
If you send in copies of your receipts with your return, even though you don't need to, it might make them lower the flag immediately.
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Offline beeweegee

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Re: any accountants out there that i can ask a question?
« Reply #968 on: April 14, 2016, 01:53:44 PM »
Yes. But you can't efile. Paper file with name and address.
What happens if you efile? On TurboTax, I just left the SSN# field blank, but it asked for the name and address.

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #969 on: April 14, 2016, 03:47:21 PM »
What happens if you efile? On TurboTax, I just left the SSN# field blank, but it asked for the name and address.

It won't let you efile unless the payee is a tax exempt organization. Turbo Tax will make you print out the return and tell you where to mail it.

Offline beeweegee

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Re: any accountants out there that i can ask a question?
« Reply #970 on: April 14, 2016, 04:29:21 PM »
It won't let you efile unless the payee is a tax exempt organization. Turbo Tax will make you print out the return and tell you where to mail it.
That's good to know, thanks.

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #971 on: April 14, 2016, 05:24:48 PM »
That's good to know, thanks.

You might want to ask your LOR because

Sounds like borderline miseerah

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #972 on: April 14, 2016, 07:11:37 PM »
if i made a electronic payment to the IRS do i also need to send in the 4868? same question for sate?
ty

Offline beeweegee

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Re: any accountants out there that i can ask a question?
« Reply #973 on: April 14, 2016, 08:07:06 PM »
You might want to ask your LOR because
Yes, I definitely will. I see two clear sides to this issue  .

Offline yomo

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Re: any accountants out there that i can ask a question?
« Reply #974 on: April 15, 2016, 03:01:52 AM »
What AGI range?

While it might be a red flag, I think that unless there's some beef in the return, IRS wouldn't bother (i.e. If it's 50k income on a W-2, even if they end up disallowing all the charitable deductions, how much would they collect? And it might cost much more to actually audit that).
Most of it is not w2 income rather S.E. income..
« Last Edit: April 15, 2016, 03:11:27 AM by yomo »

Offline Bostener

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Re: any accountants out there that i can ask a question?
« Reply #975 on: April 15, 2016, 03:30:38 AM »
Is it a red flag if you itemize 18% of your AGI to charity?

No one knows the real answer except if you have access to the IRS sealed formula on how they choose to audit. But common knowledge says that it may.
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Re: any accountants out there that i can ask a question?
« Reply #976 on: April 15, 2016, 07:23:35 AM »
-1
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FTFY
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Re: any accountants out there that i can ask a question?
« Reply #977 on: April 15, 2016, 07:29:51 AM »
Most of it is not w2 income rather S.E. income..

What income range on your schedule C?

I would say that the Schedule C automatically puts you at a much higher audit risk. The gross revenues probably make a big difference. If they're not too high, so there's not enough beaf there to justify an audit, that can end up costing the IRS more than if they disallowed all deductions and business expenses.

If the gross revenues are significant, then you should just make sure you can document and substantiate everything, and if you can, just sleep well. Rumor has it that most audits result in no change, or the IRS owing money to the taxpayer.
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Offline yg99

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Re: any accountants out there that i can ask a question?
« Reply #978 on: April 18, 2016, 12:56:23 PM »
How can I confirm (without asking directly) if my accountant electronically filed my return?

Offline hachover

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Re: any accountants out there that i can ask a question?
« Reply #979 on: April 18, 2016, 01:12:38 PM »
How can I confirm (without asking directly) if my accountant electronically filed my return?

Try entering your info in "Where's My Refund" forms?
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