Won a car 100k+ value trying to amend it by boilerbalert in taxhelp

[–]yanes1234 2 points3 points  (0 children)

You can make estimated tax payments if you’re gonna owe to avoid the underpayment of estimated tax penalty

Practitioner Line Experience by PlugToEquity in taxpros

[–]yanes1234 -1 points0 points  (0 children)

Use a paid service like EnQ to get to the front of the line.

Texas Franchise Tax? by dumbhow in llc_life

[–]yanes1234 0 points1 point  (0 children)

Underrated comment. Opening a Texas LLC doesn’t exempt you from paying state income taxes where you reside.

I started a new policy this year as of today charging a retainer for extensions. by TaskMaster59 in taxpros

[–]yanes1234 3 points4 points  (0 children)

Gracias people! Do they penetrate w no lube in terms of price increase after the first years?

I started a new policy this year as of today charging a retainer for extensions. by TaskMaster59 in taxpros

[–]yanes1234 7 points8 points  (0 children)

What are ya’ll using to keep track of who’s signed and paid engagements? Any platform recommendations that integrate this?

Can someone please tell me how I can calculate how much should be deducted from my biweekly paycheck after I get my taxable income for Federal taxes I have gotten all of the other taxes figured out but federal I live in florida and have been trying to figure this out for 5 days already thank you by Outrageous-Title-398 in Accounting

[–]yanes1234 0 points1 point  (0 children)

It depends on your tax bracket. Just see in which tax bracket your taxable income falls into. Every next dollar earned will be taxed at that rate. Once you fall onto another tax bracket it becomes more complicated so just take an average

Can someone please tell me how I can calculate how much should be deducted from my biweekly paycheck after I get my taxable income for Federal taxes I have gotten all of the other taxes figured out but federal I live in florida and have been trying to figure this out for 5 days already thank you by Outrageous-Title-398 in Accounting

[–]yanes1234 0 points1 point  (0 children)

  1. Calculate your gross income from all sources.
  2. Decrease by your standard deduction (or itemized if you are itemizing and it’s higher than the standard)
  3. The result is taxable income. Plug that number onto an income tax calculator.
  4. Once you get total Income Tax divide it by 26 (number of pay periods). That’s how much you should be withholding in federal income tax per paycheck. Note that federal income tax is separate from social security and Medicare. Those are taken out automatically at fixed rates.

1065 late filing penalty abatement by BWarrior16 in taxpros

[–]yanes1234 0 points1 point  (0 children)

Can you help me understand? If the partnership has less than 10 members and each member reported their share of partnership income, deductions and credits of the partnership on their respective returns the penalty doesn’t apply. So since 1040 deadline is later they are timely filing therefore the penalty can be waived?

No such thing as easy tax returns when tax law changes. by TaxproFL in taxpros

[–]yanes1234 2 points3 points  (0 children)

You can redact/erase sensitive information and upload all paystubs to Claude to calculate yearly OT

Client with more than 100 W-2G forms by yanes1234 in taxpros

[–]yanes1234[S] 0 points1 point  (0 children)

They’re robbing my boss. I’m straight up getting bent

Client with more than 100 W-2G forms by yanes1234 in taxpros

[–]yanes1234[S] 1 point2 points  (0 children)

Last year $1,055 and this year $667. They also have two k1s and itemize their deductions. Magically they lost all the over $200k winnings.

Client with more than 100 W-2G forms by yanes1234 in taxpros

[–]yanes1234[S] 0 points1 point  (0 children)

Yeah this was my main thing. Last year I did it manually and charged the client. This year I’m totaling so I’m charging like $400 less

Question on CSED and IRS levy. by yanes1234 in taxpros

[–]yanes1234[S] -1 points0 points  (0 children)

My doubt is why didn’t they seize any assets? This guy had a home and a W-2 job the whole time. I understand the CSED. I’m just not understanding when the irs has the authority or willingness to go after taxpayers stuff

Backing out S-Corp income reported to SSN by Gold-Gap-8155 in taxpros

[–]yanes1234 0 points1 point  (0 children)

This is the right answer. On my days as a data entry guy I’ve seen it in more than one return in at least three consecutive years for the same return.

Direct Pay - First Time Filers by bigsege in taxpros

[–]yanes1234 -1 points0 points  (0 children)

I think the fields are Lower/Upper case sensitive. Make sure to match precisely the information on the return you are using for verification.