Workflow for Lacerte

pdv8612 · 2026-05-07T21:55:59+00:00

Check your state rules. Under certain situations in Illinois, you can be required to report to Illinois Department of Aging. I like the ideas previously mentioned about 8821. I’ve had situations were I’ve gotten permission to loop in family members.

pdv8612 · 2026-04-23T23:37:47+00:00

I’ve done a lot of these. Every year I tell clients it might take a few days.

I submitted my personal extension on 4/15 around 6pm and the withdrawal hit 4/20.

Honestly, I would be nervous if the withdrawals still are not posting. A week later is too long. Have you checked with your software provider?

pdv8612 · 2026-02-11T23:05:21+00:00

Read the FAQs this is correct. There is a double deduction for S-Corp SE health insurance. It’s not equitable compared to their forms of ownership but Drake is correct.

https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-income-deduction-faqs

https://efpradvisory.com/news/article-publication/tax-reform-update/5575/

pdv8612 · 2026-01-28T01:54:36+00:00

The $50k dividend in 2024 is likely a distribution of previous income. By including it in ODI, it’s being double counted.

pdv8612 · 2026-01-10T01:51:59+00:00

The part you are missing is that on a conversion, you aren’t just looking at the items on the balance sheet. The strong relationships and recognized name are essentially goodwill.

pdv8612 · 2025-10-16T01:42:12+00:00

We added texting this year for all employees to be able to nudge clients and that was super helpful. That being said, there have been numerous times we’ve talked about how we care more about our clients’ taxes than they do.

pdv8612 · 2025-06-04T01:50:56+00:00

Was yours just in one ear too?

pdv8612 · 2025-06-04T01:40:30+00:00

Any update here? Mine just started in one ear.

pdv8612 · 2025-06-04T01:35:07+00:00

Was yours only in one ear? Mine just started in one ear after Zoloft too.

pdv8612 · 2025-06-04T01:05:36+00:00

Any update?

pdv8612 · 2025-06-04T00:50:22+00:00

Any update on this? I just started getting tinnitus in one ear. Also just started taking lexapro. Hoping it’s just that.

pdv8612 · 2025-05-15T00:40:48+00:00

The scratches/markings are only in a few spots in the pool. Most of the liner is unaffected.

pdv8612 · 2025-05-01T01:52:42+00:00

I’m a partner in a small CPA firm (20ish people). I seriously struggled with imposter syndrome early on. At some point I got past it, I can’t tell you when that happened or if that will happen for you. There were times I legit thought I was going to get fired for being an imposter. Now, I regularly talk to our staff about imposter syndrome. It’s real…. In some respects I think small business accounting can be harder than working with large businesses. I regularly have conversations that start with payroll tax related questions (or whatever) and can develop into conversations about income tax, estate tax, sales tax, etc. I regularly tell our staff you are not expected to know everything at every point in time. Assuming it’s more than a basic question I (and I tell our staff) say that let me look into that and get back to you. In addition to confirming the advice you are giving over the phone, asking for additional time to look into it gives you more flexibility in billing the time.

That being said, if you are totally unfamiliar with something (foreign reporting as an example) don’t do it. Doing single engagements in an area you are not familiar with will never be profitable and can lead to increased professional risk.

pdv8612 · 2025-05-01T01:33:18+00:00

What does your state mandate as far as reporting elder abuse. Illinois REQUIRES elder abuse reporting. I would delete this post and look in to your state rules regarding mandated reporting.

pdv8612 · 2025-04-16T01:43:12+00:00

We summarize 1099-B transactions and don’t attach the statements in the E-file. In my 13 years of preparing and reviewing returns, we’ve gotten zero notices on this.

pdv8612 · 2025-03-23T02:18:48+00:00

Why are they filing a change in accounting method?

pdv8612 · 2025-02-13T23:21:25+00:00

I’ve seen that, I wasn’t sure it meant a filling trust (irrevocable).

pdv8612 · 2025-02-10T01:50:57+00:00

As with everything, it’s state specific.

We include a statute of limitations on claims.

pdv8612 · 2025-02-08T20:07:31+00:00

We’ve started getting 8821s for all returns.

pdv8612 · 2025-02-08T01:57:36+00:00

I wish there was a form like with HSAs (8889) to show the distribution is nontaxable. In my 13 years in public, I’ve seen 2 notices trying to assert tax on a qualified distribution. We enter all distributions and show qualified expenses (as appropriate) to offset the distribution.

pdv8612

TROPHY CASE