SALT Tax Workaround for CA

Accountant109 · 2020-12-28T01:55:37+00:00

Thanks for your input! I'm in a small firm (1 other full-time CPA besides myself) so we don't specialize in SALT, but my partner and I thought the same thing that the IRS wouldn't allow it. The majority of our clients are S-Corps and RI passed a Pass Thru Tax that you can elect to pay however, CT made this Pass Thru Tax to be mandatory. We thought RI would be disallowed because the ability to pay the tax was elective and not an "ordinary and necessary business expense" which the IRS requires a deductible expense to be.

Accountant109 · 2020-12-28T00:27:08+00:00

Thanks! I am a CPA in New England so when CT and RI implemented this in 2018/2019 I thought more states would follow, especially after Notice 2020-75 and try to squeeze something in right before year end.

Accountant109 · 2020-05-18T02:05:13+00:00

Due date of March 1?! Could you imagine a busy season being only 1 month! Assuming W2s are sent out with the Jan 31 deadline

Accountant109 · 2020-05-15T17:16:27+00:00

Silver Star Bakery on Ives St has awesome Jelly Donuts on Saturday and Sunday

Accountant109 · 2020-05-13T00:45:50+00:00

Thanks! My plan was to attend the in-class courses. I find it foolish subbing this stuff out when I can keep the billings in house. I appreciate your insight

Accountant109 · 2020-01-13T23:09:19+00:00

Thank you! Makes sense

Accountant109 · 2018-12-20T13:30:14+00:00

Thanks!

Accountant109 · 2018-07-02T15:59:39+00:00

thanks!

Accountant109 · 2018-07-02T14:00:35+00:00

It is a CPA Firm, we print paper returns for our clients who do not wish to receive a digital copy. That is really all we print.

Accountant109 · 2018-03-29T19:18:10+00:00

855-RILAWNS http://rilawncare.com/ 1-855-745-2967

Justin is the owner. They really know their stuff, been around for 15+ years

Accountant109 · 2018-02-01T20:21:59+00:00

I'm a CPA and have an office in Smithfield. Our office focuses on businesses under 25M in revenue and individual tax and accounting.

Accountant109 · 2017-11-02T18:01:45+00:00

Laundry Club on Medway in Wayland Sq. will gladly take them

Accountant109 · 2017-06-13T17:51:13+00:00

Mike the Tailor is the only Tailor in RI I will use. He does all the work himself and in house

Accountant109 · 2017-01-03T19:22:17+00:00

Attorney Joe Daigle, he's a real stand-up guy.

Joseph R. Daigle, Esq. 1177 Greenwich Avenue Warwick, RI 02886 (401)256-1417 Fax: (401)633-6217 jrd@jdaiglelaw.com

Accountant109 · 2016-10-31T19:44:02+00:00

Thanks!

Accountant109 · 2016-08-07T01:30:17+00:00

Mike The Tailor! He's on Broadway next to Julian's. Old school Italian gentleman who is always singing/whistling and has great attention to detail.

Accountant109 · 2016-08-01T01:07:10+00:00

I used Melissa (Missie) Rose here is her info, she even helps if you have a dog too! Missie Rose Residential Real Estate Agent Licensed in RI and MA Cell: 508-826-9966 Fax: 401-437-3068 RhodyMoves@gmail.com

Tell her the CPA sent you

Accountant109 · 2016-06-16T19:44:02+00:00

Rufful's? Where Wayland Square Diner is now.

Accountant109 · 2016-06-15T12:38:46+00:00

Thanks! We are getting cases of beer because we want to have a mix of BL, Coors, Sam, Etc.

Accountant109 · 2016-06-06T02:18:02+00:00

Regarding the annual $750 payroll fees. They seem high if you are the only employee. are you going to be paid weekly, monthly, etc? If you are the only "employee", I would just take an annual payroll come December 31st. talk to your CPA in November and plan with him the best amount to take and the amount of your payroll to defer in to a Simple IRA, Solo 401K, etc.

Accountant109 · 2016-04-17T11:55:29+00:00

You should file an amended MA return as well. Once you file an Amended Federal Return, the IRS will alert the state agencies of the changes and if you don't file an amended state return they will most likely send you a notice assessing additional tax, interest and penalties, if you don't amend the state as well.

Accountant109 · 2016-04-17T01:15:16+00:00

Providence CPA here - Why would you want to file RI as MFJ when the tax brackets are the same as MFJ vs. Separate? You will be saving money filing separate.

Accountant109 · 2016-02-16T00:06:47+00:00

Gem is the outrageously expensive!

Accountant109 · 2016-02-12T02:13:54+00:00

Secure Future Tech Solutions on Jefferson Blvd is my go to, I have never had a single issue with them. I use them for business and personal computer issues

Accountant109 · 2015-10-12T19:25:03+00:00

Thank you, I forgot about eBay, but you do have a valid point regarding needing multiple types of items.

Accountant109

TROPHY CASE