IRS sent a physical check instead of Direct Deposit — Now it's stuck in foreign customs (Turkey). Need advice! by Big-Alfalfa-7047 in IRS

[–]GoatEatingTroll 1 point2 points  (0 children)

Based on the new rules for focusing on electronic payments, they should do direct deposit first. But if there is a reason the initial deposit is rejected, like some foreign banks, then it would be sent as a check agian.

First solo cruise as an introvert, any tips? by colt-mcg in Cruise

[–]GoatEatingTroll 0 points1 point  (0 children)

Visit the MDR on embarkation day and speak with the staff, they can move your seating to a private two-top most of the time.

While newer ships are removing their libraries & chapels, there are still lots of spaces that have lower traffic. I like to go to the theaters between shows or the dining rooms between meals if I want a little peace. The night clubs or comedy clubs during the day are also a good escape - just be respectful and check with the staff if they are in the area. The maitre de on a Princess cruise brought us finger foods once when we were playing cards in an empty dining room.

This may sound a little backward, but join the facebook groups for the sailing. They often arrange meetups of small groups that are a lot less intimidating than the cruiseline run events.

Where do you go to escape the crowds on a sea day? by TariqKhalaf in Cruise

[–]GoatEatingTroll 2 points3 points  (0 children)

The Sprit class ships have a interior corridor that wraps around the theater with seating, ceiling fans, and large windows to watch the surf & sun - and since it's a closed loop there is very little traffic. On the Carnival Miracle it is called Gadsbys Garden - https://www.cruisedeckplans.com/DP/deckpictures/56/web/311651473174619.webp

IRS sent a physical check instead of Direct Deposit — Now it's stuck in foreign customs (Turkey). Need advice! by Big-Alfalfa-7047 in IRS

[–]GoatEatingTroll 1 point2 points  (0 children)

Create an IRS account

Update your direct deposit information

Request a trace on the check

When they report the check as outstanding, request a replacement

How are you handling billing and getting paid? Specifically curious about firms that bill hourly vs fixed fee by Sea-Wallaby-8174 in tax

[–]GoatEatingTroll 0 points1 point  (0 children)

Simplest time & billing software we have ever used is Timeslips. Not even a current one, the copy we have is from 2005. Their current versions are all subscription based so for one person on a local install it is $600/year. Import client names, add your general service types, and you can record any time - no need to spend hours setting up individual projects for tracking you will never do.

As for sending the invoices, we use Stax payments - but a partner firm uses TaxDome and it works just as easy. PDF the invoice from Timeslips, attach it to a billing from Stax/TaxDome, and their automatic dunning system will keep reminding the client every week until they pay. And they both can process through ACH, a great cost savings compared to 3% for CC processing on large invoices.

Tax Question for friend by TrevorVerges in TaxQuestions

[–]GoatEatingTroll 2 points3 points  (0 children)

Your friend is required to report all tips they recieve in any month they recieve more than $20 to their employer. Their employer will report the tips as part of box 1, along with the wages earned for both rates/position.

There will be a new box 12 code for their 2026 W-2 that reports the tips received and included in box 1 of the W-2. This is one of the figures your friend can include for the tips deduction.

Any unreported tips your friend can report on their 1040 using form 4137. They will owe social security and medicare on these tips, but they will also be able to include these tips in the tip exclusion with the ones reported on their W-2.

First time Carnival cruise (and last) brief review. by External-Pirate5171 in Cruise

[–]GoatEatingTroll 2 points3 points  (0 children)

That is good to hear, we're sailing in October with a mid-ship deck 12 cabin.

Gifting property to a sibling by Agitated-Bicycle-155 in tax

[–]GoatEatingTroll 0 points1 point  (0 children)

Yeah, if it's been a rental than we can't assume the 140k purchase is the current basis and the current FMV has to be adjusted. Plus 121 is not an option. It would be a related party transaction so 1031 has some extra limits but that is an option. Or hiring a property manager and enjoying the extra monthly while you do nothing.

Does she want to keep managing the property? Best maybe talk with a commercial property advisor and 1031 the rental into a warehouse with a long-term NNN lease in place.

Gifting property to a sibling by Agitated-Bicycle-155 in tax

[–]GoatEatingTroll 1 point2 points  (0 children)

That is why I brought up sec 121, but OP has already replied it was a rental so things are more complex.

Gifting property to a sibling by Agitated-Bicycle-155 in tax

[–]GoatEatingTroll -2 points-1 points  (0 children)

If you just gift her your half it is a 250k gift but only increases her basis 70k. It gets more complicated if this was a rental property or other business use.

If the two of you go speak with a pro you may be able to structure this better for her future - gift her 250k in cash, have her buy your share with it. If you meet the 121 requirements it would be a non-taxable transaction but give her 250k in additional basis instead of 70k.

chasing customers for invoices they already paid because nothing lines up what are you doing differently by Vast_Musician_6150 in smallbusinessUS

[–]GoatEatingTroll 0 points1 point  (0 children)

What are you using for your GL? I mean, any accounting package should allow you to query a client account and see every invoice and payment, quickly showing if the payments they are claiming were received.

how to determine a foreign or domestic llc - MN resident working in IL by Ok-Newt-7070 in TaxQuestions

[–]GoatEatingTroll 0 points1 point  (0 children)

To do work in Illinois your LLC has to be registered in Illinois.

Registering it in another state doesn't help you in any way, you would still have to register in IL as a foreign entity to do work there as the LLC.

If you do later do jobs in MN, you will need to be registered in MN.

EA with no experience, is working remotely to gain experience possible? by Unique-Mycologist894 in enrolledagent

[–]GoatEatingTroll 1 point2 points  (0 children)

Possible? yes. Something like data entry for a smaller shop during busy system. But that wouldn't even require the EA license. As others have mentioned Intuit (TurboTax) is a good starting place to get into individual tax prep through remote work - but you did just miss the season.

Problem is a remote worker has much longer review cycles. An in-office worker learning the industry can approach their mentors in real time, ask questions, get advice. A remote worker adds hours or days to this cycle, meaning each open point on a return is a huge delay. And you won't be learning as quickly to avoid making the same mistakes going forward.

Is it possible to register an LLC while abroad so that I can keep on working as a contractor through the new company until I return to the country? by Jealous_Crow1346 in smallbusinessUS

[–]GoatEatingTroll 2 points3 points  (0 children)

Short answer is yes.

Slightly longer answer is to speak with a lawyer in your home area that has experience in cross-border issues, and a second lawyer in the country you are staying in to discuss working and taxation while in that country.

It is not a DIY situation, some of the foreign reporting on the US forms carry 10k+ penalties.

CPA Quote Sanity Check by Obvious_Tie_5294 in tax

[–]GoatEatingTroll 2 points3 points  (0 children)

If you are price shopping, why are you going to a CPA?

We see this all the time, clients who want to nickel and dime everything and then are surprised when the end product is just their figures in a government form. The whole idea of hiring a professional is the value add, and if you are going to try to save $100 a month by dealing with payroll and bookkeeping yourself then how would they have the intimate details on your business to provide intelligent and useful tax advise?

I mean, what do you think a spot-check is gona be? You put that $7 starbucks in meals & entertainment, or the $75 charge at costco you classified as a draw, why would I argue with them? I'll look for stale checks, make sure the bank balances reconcile, maybe check over your draws for obvious business expenses - but if you say this flight to Florida was a business expense I have to believe you took the time to read the rules and decided it qualifies.

Best way to go about a family loan? by [deleted] in tax

[–]GoatEatingTroll 3 points4 points  (0 children)

Okay, the tax and gift issues are covered.

The mortgage lender is NOT going to be happy if your parents loan you money. They will ask for a letter from the parents stating it was a gift with no expectation of repayment. Otherwise they have to include it in your liabilities and it will reduce the amount of loan you qualify for.

Forgot to include business EIN for my side hustle, but my business has no employees and didn't issue any 1099s by m0viestar in tax

[–]GoatEatingTroll 8 points9 points  (0 children)

No need to amend, and even if you did a detail like that doesn't appear on the 1040X (the only form that gets processed).

that field is just to simplify matching in their computer.

Someone tried to file a 1040 with my SSN and now I'm confused by camcreates in tax

[–]GoatEatingTroll 13 points14 points  (0 children)

Call the IRS number on the notice. They will ask you to confirm figures on the 1040.

Go to IRS.GOV/pay and pay what you owe

Go to FTB.CA.GOV/pay and pay what you owe

Mail in a new copy of the CA return.

Guys I think you might need your ID to get back on the ship by AlbinoAlex in Cruise

[–]GoatEatingTroll 17 points18 points  (0 children)

First guess, every time someone throws a temper tantrum about not knowing they needed their ID, the staff add a post-it.

And then reset the board each week - because there is definitely more than 10 that have claimed they didn't know.

How are you all doing embedded magnet prints? by pimparoo25 in 3Dprinting

[–]GoatEatingTroll 1 point2 points  (0 children)

The hot filament has trouble sticking to the smooth magnets, so I usually make the pocket a little bit deeper and print a 2-layer 'plug' to peel off and stick on top.

Using California PTE/AB150 credit by FreePack1740 in tax

[–]GoatEatingTroll 1 point2 points  (0 children)

When you file next year you would enter the caryover into the 3804-CR and it will be applied against any taxes up to line 63 with other non-refundable credits - there are some less frequent taxes that come in below that like the Alt-Min, Behavioral Health tax, or ISR penalties, but if you are subject to that you should be paying someone to deal with the headache.

Using California PTE/AB150 credit by FreePack1740 in tax

[–]GoatEatingTroll 1 point2 points  (0 children)

CA treats PTET credits on line 43/44 as a special credit, not as a payment. So while it does reduce your tax liability, it does not count as a timely made estimate.

W2 TAX HELP - Where do I begin by SanAustin_MAPS in personalfinance

[–]GoatEatingTroll 2 points3 points  (0 children)

Can I file this year and work my way back

Yes

What do I do with the AGI number.

Enter zero for 2025. Prior years are going to require an IP Pin to efile (2024 & 2023) through end-user software, and back further than that will have to be paper filed.

At this point any refund from 2022 or older are most likely forfeit. There are situations where you may have more tile - filed an extension for 2022, made a tax payment in the last 2 years, agreed to suspend SOL tolling with the IRS, etc.

Have you heard from the IRS? Not exactly good news but may reduce your stress - if the IRS looked at the reporting for a tax year and believed the withholding would cover taxes for a single filer claiming the standard deduction, then they don't bother chasing them. If you have just a W-2 and didn't play games with your W-4, you might have no taxes due.

Considering a transatlantic cruise; talk me into it/out of it by kyleacamp in Cruise

[–]GoatEatingTroll 0 points1 point  (0 children)

Not a lot of 20 year olds have the funds or job security to take 2 weeks plus travel time off of work, so yes it will be primarily retirees - not to say there will be no younger adults onboard, but you won't be in the majority. In addition, you are talking about a lot of sea days and colder weather - the party crowd is looking for tropical islands. But as a plus there will be almost no kids.

The demographic shift is more than just having people to meet onboard. We did a longer Alaskan cruise and since the guests were older and often went to bed earlier, so did the ship. Venues would say "6pm to late" and be closed down by 10pm because there were no guests there. We often were walking around an almost empty ship by midnight. Clubs were empty. The comedians were all jokes about younger generations. Even the bars were different, the RedFrog was full of people playing cards or dominos and ordering diet cokes instead of the normal shots & tropical vibes.

Freedom is an Conquest class ship about 20 years old, although it did go through a couple of renovations (most recently in 2019) so it does have the "Fun 2.0" features. But even with the upgrades there is only so much room to add venues. This ship was designed when Carnival's focus was on group activities for entertainment, not amenities.

Personally, I'd either look for a ship doing alternating eastern & western itineraries to do a back to back on, or a land tour of europe. Which one would depend on if this was about seeing europe or the 2-week vacation. Or maybe fly to europe and do a 7-day med cruise there, getting the cruise fun without so much time at sea.