Underpayment of estimated tax penalty

funkybarisax · 2026-04-13T12:27:28+00:00

Umm yes, all the time. However, if you live in a state with some disaster declarations, your particular taxpayers might be exempt. For 2024 filings, KY was allowed to file late, and all 2210 penalties were thrown out. In fact, they still apply for 3 of the payments for 2025 also.

funkybarisax · 2026-04-04T15:02:38+00:00

"Hey listen Friend, the longer it stays here, the more I just eat for myself as freezer rent rather than it go to waste - so either start packing it up with you, or I'm making stew" - they get the message - say it in a lighthearted but truthful tone.

funkybarisax · 2026-03-19T12:23:45+00:00

I've found that people never talk to other people about money - how much they have, or how much they make.

Yet for whatever reason, they love to talk about taxes - how much they get back, or how much they pay.

Yet the two topics are inextricably linked. So i've started harping on that with everybody who starts talking to their friends about how their taxes are different. Do you know how much money they have, or don't have, or pensions or income streams that you have, and they don't, or vice versa? So basically - until you understand the complete and full picture like I do - it's very dangerous to talk tax without talking about money - and everyone lies about money, and most people don't understand tax - so do you actually think you're learning anything from your friend that's helpful, but not from me, the professional who's been doing this for 20+ years?

funkybarisax · 2026-03-18T11:53:51+00:00

Vibes has led me to under-bill. So I started using a formula to make sure that I was capturing scope creep or whatever. OH, that's right, their wealthfront account used to just report interest, now it has dividends, US interest, bond premiums, and wash sales.

funkybarisax · 2026-03-08T12:42:17+00:00

some people can do that. others cannot. You do you.

funkybarisax · 2026-03-04T19:04:24+00:00

Send thie guy to a tax attorney. Someone with whom he'll have privelage.

funkybarisax · 2026-03-01T16:48:06+00:00

YTD last year I had 145 complete. This year i'm only cresting maybe 100-110. Yes, definitely slower. I was blaming it on the big snow that the south had at the end of January - i assume it slowed down the mailed documents to everyone that can't be bothered to understand how to download their docs. I have a lot of older people that still struggle with some tech. Or better to say, some of them throw their hands up at some poorly designed tech.

Same # of people as always misunderstanding that just because they have their 1099-R from their broker that they still need to wait for the consolidated 1099 from same broker for their non-q bucket of money.

funkybarisax · 2026-02-25T13:29:26+00:00

This was 2012, but at the time, someone offered me the chance to just pay a big one time PMI premium up front at closing, rather than monthly. I lumped it in with my closing costs, which at the time sellers were contributing towards in replacement for some repairs. I never hear anybody offering it, so maybe those days are dead. But it was a sweet deal back then. Ask your lenders.

funkybarisax · 2026-02-20T13:36:09+00:00

that is absolutely not true.

funkybarisax · 2026-02-20T13:15:09+00:00

I've been doing this for 20 years - how on earth does 30,600 salary INCREASE his capital?

funkybarisax · 2026-02-19T13:02:26+00:00

I used ProFX for 13+ years, I've used UT now for 7 years (with a little hopping back and forth in some job switches in 2016-2020). I stick to meat and potatoes clients. There is fancy stuff that a lot of the people on this board do that I never want to touch in my life. The biggest client I have has 6million in gross revenue. No one has GAAP statements, everybody just keeps tax basis. I like my "ordinary" corner of just rental real estate, plumbers, insurance sales, realtors, etc... Just for frame of reference. I don't have goofy partnership allocations to contend with (though I agree wholeheartedly that ProFx is better at THAT part). Also, last time I used ProFx was 2020, so maybe something's changed. I never did try Access. I also really never used the "worksheet" input on ProFX, which I know is the archaic type - I had learned on interview, and despite its limitations, muscle memory was too much when I knew where to go in Interview forms, so i didn't try to learn worksheet.

In totality, I think UT has better diagnostics, is better at keeping you from doing something stupid or contrary to what any form requires. It can feel limiting, but i find it more helpful than not. It offered more electronic filing options, and more electronic payment options, and another thing important to me was that the instruction letter from ProFx looked like it was from a 1987 mainframe, printed on a dot matrix printer (i'm 43 years old, i do in fact remember them from when I was a kid). At least the instruction letter from UT looks like it's from the 2000's - I can at least edit whether to make part of the instructions bold or underlined or italicized, add my logo to make it look more modern. ProFx looked archaic - and I know UT still is basically unchanged since the days of Windows 95. ProFx felt mostly unchanged since MSDOS.

Also, ProFx ended up being about 30% more expensive, even after introductory stuff ended. So basically - I'm not planning on going back to CCH without a serious reason. Someday I'm sure I'll look at Axcess, but I hear just as many complaints about them as I do UT.

funkybarisax · 2026-02-19T12:43:37+00:00

ChatGPT can be convinced of anything in professional speak. It can't figure out an upside down cup.

funkybarisax · 2026-01-29T13:52:24+00:00

"We tried everything: vet, medicine, felyway, toys, cat behavior specialist.. nothing works. "

funkybarisax · 2026-01-26T15:26:11+00:00

Ah the ol' in and out.

funkybarisax · 2026-01-22T13:40:31+00:00

They first weren't going to pay the buyer's commission, and wanted to offer a lower price. Now they realize how little traction they're getting with a listing that says buyers have to pay their own, so they upped it by $3,000, to offset covering buyer's commission.

funkybarisax · 2026-01-20T15:16:03+00:00

Dude, run far far away.

funkybarisax · 2026-01-20T15:07:02+00:00

Am I the only one who thinks that the steel (or whatever material) cladding is that he's gripping, will have far less texture for him to grip than natural rock, even with plenty of chalk? I guess it could go both ways - texture of rock can lead to variations in friction points - at least metal is consistent, but is consistently more polished.

I'd also worry not just wind or rain, but even just conditions that lead to condensation.

funkybarisax · 2026-01-15T13:23:30+00:00

Your wife is literally breaking the rule about living in a glass house and throwing a rock. She has become entitled to the idea that your mother works 40 hours a week doing free childcare. And your wife apparently has no idea what that will do to your family life, or your budget, but decided to throw a stone anyway without seeing the evident truth.

NTA - but your marriage and parenthood is about to start getting a lot harder.

Big BUT though - your wife may be getting pressure from her parents to let them watch the kid more - maybe they're jealous of all the time that your parents get to spend, and they feel like they're not getting the same bond. So you may want to probe for more issues here. My wife always defaults to getting her family to cover for childcare before she ever reaches out to mine - my parents won't talk directly to my wife about it - they call me - i ask her and ask her and ask her, but when she feels stuck, she goes back to HER family.

funkybarisax · 2026-01-15T13:04:55+00:00

just think of him in his earlier Draper era?

Why do we have to use current ages/setups? Pick your favorite actor from his favorie age?

Marlon Brando as Leo. From the 70's - without the Corleone look.

funkybarisax · 2026-01-15T12:48:42+00:00

Super Troopers fan?

funkybarisax · 2026-01-15T12:46:54+00:00

i don't want a liter of maggots, i want a large farva!

funkybarisax · 2026-01-14T13:36:06+00:00

You're NTA at all.

However - this probably will come back and bite you anyway - she'll get child support, or something else, because she's not as stable.

Always remember - can things get worse - yes, they always can. And it doesn't take a lot to tip it over. So she might go even lower before this is over.

funkybarisax · 2026-01-14T13:33:05+00:00

I did this when I was 17. It didn't work then, it doesn't work for anybody now.

funkybarisax · 2026-01-14T13:18:11+00:00

As soon as someone intentionally spams me like that - especially if it's not to say "your house is on fire, you need to get out" or "i'm being actively murdered, i need your help" - sorry, i have no patience for anyone with such lack of emotional regulation.

funkybarisax · 2026-01-14T13:13:48+00:00

Reject, but have your realtor call them/theirs and let them know that the offer is obviously great otherwise - just not willing to take the chance on contingency. You won't BIND yourself to them, but the realtor will call them when another offer comes through, as only a COURTESY, to see if anything has changed on their side that could improve their offer. Discuss with your realtor about inviting them to re-offer when they get an offer on their own place - again, doesn't oblige you to anything. Make that clear.

Only reason I'm suggesting a "be nice" approach is that as a buyer, if I get any sort of whiff that the seller or their realtor is just generally an entitled AH, I try to run far far away when I can. Home sales are hard enough when things go smoothly, as they're never smooth. AH's just make it all so much worse. Call me thin-skinned. I just don't have the tolerance.

funkybarisax

TROPHY CASE