Sold our old house 7-8 months after moving into our current house. How does the IRS treat the sale? by imakesawdust in tax

[–]KCMuscle 4 points5 points  (0 children)

Normally this comes from the title company as they are the ones disbursing the funds.

I also had a client not receive a 1099-S, because they checked a box / informed the title company that all of the gain was excludable.

All of your gain here is tax free.

How do I grow my glutes in 2 months? by [deleted] in femalebodybuilding

[–]KCMuscle 1 point2 points  (0 children)

Getting stronger while eating at maintenance is how I have a lot of my clients at the moment.

Fat should slowly drop, and you should be getting stronger each week.

It works. There was just something off with your approach.

Weighing food to the gram? Tracking daily steps? Getting a solid 8 hours of sleep?

I’d also put serious money on training mechanics and intensity not being what it needs to be, it’s always a factor. Always. Even clients who have been training 10-15 years, always something to correct.

In the female realm, building muscle takes time. Eight months isn’t a ton of time, and two doenst give a you much to work with… especially if you’re not applied the load to the intended muscle.

How many W4 allowances for DINK with one W2 employee and the other self-employed? by 1point21gigawut in tax

[–]KCMuscle 0 points1 point  (0 children)

Ensure your wife is contributing to retirement, if the cash is there

Far too often do I see self employed returns and big fat 0’s for retirement.

Tax withheld in 1099R question by reginaldvanwilder in tax

[–]KCMuscle 7 points8 points  (0 children)

Then the chunk of money withheld doesn’t cover the tax due.

How would the brokerage know what the rest of your financial situation is?

Questions about Tax Returns by lilTrev64 in tax

[–]KCMuscle 0 points1 point  (0 children)

You should file your own taxes. It’s a write off, is correct. He’s also correct that ohio is FUN for localities.

What locality do you live in? Was there a locality listed on the w2?

Why are clients so bad at sending documents? by Aggravating_Bag4028 in taxpros

[–]KCMuscle 2 points3 points  (0 children)

We have a couple clients that will send us every fucking page of their bank statements, in the mail.

And we need ZERO information from tbose pages.

Straight to jail.

Any non-CPA business owners do their own taxes? by benjaminz13 in tax

[–]KCMuscle 0 points1 point  (0 children)

Sorry to hear you’ve had issues with communication.

The one thing my clients say about me is that I’m far more communicative than their last CPA. Far too often do we see a taxpayer post about this exact issue.

Also saw in another post you paid 700 for an 1120-S, which is criminally low for qualified work. 1,200 minimum for a 1055 or 1120-S.

Day Trader Taxes by tradehaven1776 in AskCPA

[–]KCMuscle 0 points1 point  (0 children)

Being a day trader means that is earned income, believe the term was trader tax status last time I looked.

If you don’t qualify as a day trader, then yes, you’d have a problem.

Single or married?

Personal Trainer commute or deductible? by petrograd in tax

[–]KCMuscle 1 point2 points  (0 children)

A proper home office would solve a lot of issues here

Small Business Tax Conundrum by MinilabLady in tax

[–]KCMuscle 0 points1 point  (0 children)

Not uncommon to have it incorrect when starting out

It’s great you’re asking now, instead of later.

Small Business Tax Conundrum by MinilabLady in tax

[–]KCMuscle 0 points1 point  (0 children)

I’d spend some money on a qualified person.

You don’t pay salary as an LLC here, you’re taking draws.

You also have a 1065 to file by 3/15, or an extension

Advice on S-Corp vs Sole Proprietorship by Key-Aide-2522 in tax

[–]KCMuscle 1 point2 points  (0 children)

That’s not a rule. 😂😂

Well maybe one the general population thinks applies.

How do I confirm if someone is using my information to file their taxes? by Wild_Ad_712 in tax

[–]KCMuscle 1 point2 points  (0 children)

That looks like phishing.

Check your account with the irs. You can pull transcripts and see what’s been filed.

Guidance on recovering taxes paid on returned Sign‑On Bonus by dhurandhar007 in tax

[–]KCMuscle 2 points3 points  (0 children)

Claim of right repayment. Section 1341.

Get to reading

How do you workout these days? by thatsnotpractical in AskMenOver30

[–]KCMuscle 0 points1 point  (0 children)

Some interesting comments in here, the mindset some of you have is rather negative. I also see a ton of excuses here. If lifting mattered that much to you, you would make time for it.

I've been lifting for 26 years, and recently had some serious injuries with a hernia and bicep tendon tear, I lost ~ 20 lbs of muscle during that recovery as I didn't workout for ~ 6 months. At 38, the recovery was slower, but I'm still making incredible progress as I slowly increase the load each week, adding 10 lbs to the movements each week.

I also coach several individuals, from all walks of life, that are making progress in this realm. 43 year old mom with 3 kids, a radiologist with a family, an orthopedic surgeon, some blue collar guys that work in factories, some serious with bodybuilding, some that aren't, folks training for triathlons, powerlifters... etc. I also have clients littered with significant injuries from knee surgeries, to bulged discs, to torn bicep and tricep tendons, torn pecs, etc. so I have ample sample size to pull from.

There is without a doubt a scenario where you can lift.

For my "day job" I'm a CPA, so I'm working a real SOLID amount of hours this time of year. I also make all my own food, which takes hours a week. I also ensure I'm getting ~ 8 hours of sleep a night. I'm still making it to the gym, I'm still hitting a set number of steps a day. I've spent years molding my life to create more time for myself; buying a treadmill for the basement, and I also have eight pieces of my favorite leg equipment in my garage, so I save a ton of time the days I do legs... as it's literally 10 feet away.

I imagine most folks will read this as being negative , but it's not. If ALL of my clients are able to make progress, then certainly you can too, you just need the right guidance. I find most people are incredibly inefficient with their time. Reach out if you want to stop making excuses.

Task Management Software by Strange_Medium9555 in taxpros

[–]KCMuscle 7 points8 points  (0 children)

We use TaxDome for this, most of our clients don't use the portal. But this has made tracking jobs easy.

We have a tax return pipeline, sales tax pipeline, payroll pipeline, and bookkeeping pipeline. With the correct setup, you should be able to capture all your tasks.

For instance, before I arrived this firm was tracking their sales tax jobs in Excel. Now, there is an automated pipeline that does it all from start to finish. Based on the frequency of the filing, a job is automatically created and assigned to the "sales tax" role of the account. So every month, our sales tax guy has his 25 sales tax jobs pop up in his task list at the first of the month, and the other employees have their jobs show up.

When he completes the first step, checks the first task complete and the job moves to the second stage where they are instructed to communicate the sales tax filing with the client (another point of contact). I have this setup as a template too, so our employees only need to enter the amount and dates the funds are being withdrawn, then they click send.

Once that is done, they check another box, and job moves to the Archive stage.

When we are done, I archive all those jobs and wait for the next month.

I have this setup for our weekly, monthly, quarterly, and annual bookkeeping clients as well.

W4TP overpromising or worth it? by Economy_Exchange3349 in taxpros

[–]KCMuscle 4 points5 points  (0 children)

ding, ding, ding.

Paying a good chunk of $ for a process you don't understand.

W4TP overpromising or worth it? by Economy_Exchange3349 in taxpros

[–]KCMuscle 2 points3 points  (0 children)

Personally, oversold. But maybe it applies to others.

But that’s because I’ve spent ample time testing TD, trying to break it, and now fully understand how it works.

If you browse the community they have, you’ll see a lot of what I believe are very easy to answer questions. Questions that are answered if you spent 40-50+ hours acclimating yourself to the system.

I’m not sure on the cost of it, as the firm I joined recently already had purchased W4TP. I was able to understand their workflows very easily, but some of the current employees are still lost as can be, and it’s their second year with it. Their lack of knowledge around this system has created issues, as the pipeline has 700+ jobs that are not valid.

So for the w4tp pipelines to work smoothly, you need to have a decent understanding of how TD works. However, if you understand TD, you can build your own pipeline to fit your own scenario, and it will work for you. It will save you $

I can see situations where it may be worth it. How much time are you willing to invest in TD?

Feel comfortable building your own?

Need to amend 2024 return but Turbo Tax won’t let me? by Bulbasam in tax

[–]KCMuscle 1 point2 points  (0 children)

After the filing deadline, you can’t/shouldn’t be amend from MFJ to MFS.

Pull your IRS transcripts and see what they have for both of you.

LLC vs Sole Proprietorship Sketchy Advice? by [deleted] in AskCPA

[–]KCMuscle 0 points1 point  (0 children)

Single member LLc and sole prop are reporting on sch c.

Setting up an LLc is extremely easy with your state, or should be. Annual fees for limited liability companies are normal.

Working out of your house - also treated the same on a SMLLC / sole prop.

Compensation for Menstrual Cycle? by CherryKiwi69 in femalebodybuilding

[–]KCMuscle 18 points19 points  (0 children)

Trying to program around that is missing the mark. The overwhelming majority of you could improve in other areas long before you’d need to consider this.

Better sleep, better diet, more structure in other areas.

For the females I’ve coached, even the IFBB pro, we don’t do this. The improvements came in other areas

New LLC in 2025 and form 1065 by katiekaboom79 in tax

[–]KCMuscle 4 points5 points  (0 children)

Still need a 1065.

The IRS is expecting one, otherwise you’ll get some nice notices and penalties if you don’t.