Posts by Brenda Chase3

Roger Stewart2 said:Hey guys, can someone walk me through the paperwork side of things here? If I'm switching an employee from a contract role over to full-time permanent status, is there anything else I need to update besides the standard m3p form?

No additional steps are necessary. You just need to handle the W-4 and, of course, ensure the new permanent employment agreement is fully executed.

Larry Edwards3 said:I was wondering if I actually need to include the training contract along with my application, plus that official approval notice from the IRS? Or is it possible that I don't need to attach any of those documents to the filing at all?

Based on my experience filing last year, you definitely need to include both the approval documentation and the signed contract.

Larry Edwards3 said:I already have my online portal access all set up and activated. That is wonderful news if I can indeed file before November 16th! I honestly had no idea, so thank you so much for letting me know.

Of course you can. They won't actually start processing it until November 16th, but you can get it turned in early just to have that peace of mind.

Just to build on what Larry Edwards3 was asking... You can actually submit your Social Security application ahead of schedule. Just make sure you list your official start date as November 16th; they’ll simply hold onto it and process everything once that specific date rolls around. That way, you aren't stuck waiting until the 16th just to hand in the paperwork.
As for getting an email notification from Medicare, you'll only receive one if you've already set up your online portal access and are fully registered in their system. If you haven't gone through the steps to register for those digital services—meaning you haven't submitted your credentials yet—they won't send you an email because they don't have your contact info or know where to reach you. So, what Terry Rodriguez17 mentioned is accurate, provided you're already active in the electronic healthcare system.
If you haven't set up that digital access, you won't get an email notification even though they'll automatically enroll your employee under health coverage. However, since you won't have a digital copy of the filing for your own records, it's usually recommended to handle things in person so you can walk away with a physical copy in hand.

Nancy Jones said:Good morning, everyone. I’ve been chatting with an employee who’s been with us for five years about ending his contract. We were leaning towards a mutual agreement, but he’s really counting on those unemployment benefits from Medicare, which we can't trigger if we just settle things mutually.
Is there any way to classify this as a layoff due to redundancy instead, so we can bypass the notice period and still provide severance pay, since that would actually be a win-win for both sides?

You could draft the termination as a reduction in force, but make sure you specify that the decision was made prior to the notice period, and that he will continue working through his final date. For instance, you issue the notice on October 26th, but his official last day isn't until November 10th.
If the employee chooses to waive his right to severance pay, ensure you get that in writing.
I am only suggesting this assuming you have already discussed this privately and the employee is fully on board with the plan.

Brenda Chase3, thank you so much for getting back to me. I’ve gone ahead and submitted the 10, and everything seems to have processed perfectly fine—it's just that I haven't sent over any other documentation yet. But as of right now, everything is looking good. Thanks again!

Quick question for the group... Does everything run smoothly on Windows 10? I’m not just talking about how things are working today, but the general stability of it all. Specifically, I want to know if I can rely on the IRS portal, Social Security Administration sites, Chase, and Wells Fargo. If I decide to make the jump from Windows 7 to Windows 10, am I going to spend half my life fiddling with settings just to get these essential services to behave?

ruggedheron13 said:So, I’ve been thinking about this one small business owner I know... He was leasing a commercial space and put a significant amount of money into the build-out and improvements. He was booking those costs as direct improvements, but then life happened—he moved out before he could fully depreciate the investment. Now he's left wondering... what happens to that remaining book value?

Think of it like inventory management. You should complete the depreciation process just as you would with stock you buy, put into your inventory, and then eventually sell. Essentially, the day he vacates the premises serves as the date of disposal; you simply write off the remaining value as of that specific date.

Ryan Rogers4 said:Could use some help here... if an employee changes roles within the company, do we need to report that change to Medicare? I'm looking at the pension filings and there isn't actually a spot to enter a date for a job change. Does anyone know how this works?

Yes, you do. There is a specific section designated for job title changes, and you'll find the option to select the effective date down at the bottom of that section.

wearycobra18 said:I’m looking for some insight from an experienced accountant. Has anyone ever accidentally reported a higher income than actual to the Department of Labor when trying to secure a larger benefit for someone? I’m wondering if they actually run audits on those discrepancies. Feel free to reach out via DM if you have info.

Sent from my LG-D802 using Reddit

They attach those documents right along with the payroll stubs and tax statements, so they compare them directly.

http://www.ssa.gov/benefits/index.html

Adam Richardson said:Has anyone else tried following the IRS guidelines using Windows XP and run into this specific error message today?



What should my next move be?

It isn't working on Windows 7 either. An inquiry has been sent over to them, so we're just waiting to hear back.

Robin Cook4 said:hey, do I need to get that quarterly form in by 10/20/2015 (for months 7 through 9)?

Yes, you do.

boldlynx13 said:Greetings, everyone. I am seeking some guidance or perhaps a bit of advice regarding a situation at my new workplace. While processing a termination for one of our employees, I noticed a discrepancy: several staff members—some who have been with us for over 15 years—are still officially registered as working 7-hour shifts. In reality, they haven't worked 7-hour days for quite some time, yet their records were never updated to the standard 8-hour workday. When the company was first established, the initial filing specified a 42-hour workweek, which was later adjusted to a 40-hour week for the firm as a whole, but it appears this update was never applied to each individual employee's file. I suppose I am wondering if this needs to be corrected for every single person individually. If such updates are necessary, would backdating these changes pose any significant issues, and is there a realistic possibility of facing fines from the Department of Labor for doing so? I wasn't handling these specific administrative duties back when the legal transition from 42 to 40 hours occurred, though I don't recall whether employers were required to perform a collective update for every worker during that shift. Furthermore, I am curious about which specific changes must be reported to Medicare during an ongoing employment period. For instance, should I be reporting updates to educational credentials or changes in job titles? Thank you very much for your assistance.

You generally report changes regarding an employee's personal data (like a name change), daily working hours, occupation or job title changes, or if you transition someone from a contract position to a permanent one...
In your specific situation, I would personally reach out to the Social Security Administration and ask how to handle these employees, since their recorded hours are technically incorrect after all these years. Even if you’ve been calculating pay based on an 8-hour day, you wouldn't want these workers to be disadvantaged down the line because 7 hours doesn't qualify as full-time anymore. Contact Medicare and ask if you can make these changes retroactively and if it's even necessary. You can send them an inquiry via email; the Social Security website should have a directory of contact emails and phone numbers. One more thing: on those old paper filings, does it explicitly state they are registered for full-time status (regardless of whether it says 7 or 8)?

Charles Martin17 said:Hey guys, I could use some help here,
A buddy of mine just started his own small business—he's running a shuttle/passenger bus service now—and he’s feeling a bit lost. He needs to know where he actually goes to pay his monthly Social Security and Medicare taxes, and honestly, what the real cost is... because every website he finds gives him a different number.

Also, does anyone know where he should take those business expense receipts (the ones issued to the company name) so they can be properly filed as tax deductions?

Paying contributions as a sole proprietor:
$258 - Social Security Tier 1
US Treasury US1210010051863000160
model US68
reference number 8214-SSN

$258 - Health Insurance
Centers for Disease and Prevention HR6510010051550100001
model US68 reference number 8478-SSN

$86 - Social Security Tier 2
regos US0000000000000000000
model US68 reference number 2046-SSN

$29 - Employment Tax
US Treasury US1210010051863000160
model US68
reference number 8770-SSN

$8.50 - Workers' Comp
Centers for Disease and Prevention HR6510010051550100001
mdel US68 reference number 8591-SSN

If the owner doesn't have Tier 2 coverage, they only pay into Tier 1. $344

Contributions are due by the 15th of each month for the previous month, and the amounts are fixed.

My advice would be to hire an accountant, especially since he isn't sure what to do with the receipts. All issued and received business receipts are recorded in the incoming and outgoing ledgers, which serve as the basis for the cash flow statements. You don't actually "take" them anywhere; the accountant simply logs them and then files the annual tax return based on all the paperwork related to the business at the end of the year.

swiftsurfer42 said:I am also running into this "component loading" error. It appears as though Java simply cannot launch the application.
I am seeing the exact same issue on two different machines (Windows 7 and Windows XP). Everything was functioning perfectly until today. It seems to be an error on their end; it looks like while they were busy patching the app for Chrome, they inadvertently broke it for Internet Explorer.

I actually reached out to the IRS about this specific glitch. Their workaround was pretty straightforward: go into your Tools, head over to Compatibility View Settings, remove the IRS.gov entry from the list, and make sure you leave only "Use Microsoft compatibility lists" checked.
Once I adjusted those settings, I was able to get everything back up and running smoothly.

Is anyone else running into issues while trying to upload the JOPPD form? Every time I attempt to submit the file, I just get stuck staring at a "loading submission component" icon that spins indefinitely. It won't even trigger the file explorer window so I can actually select the document. I'm currently using Internet Explorer.

I’ve been using IE practically since its inception, though I really only rely on it for those specific "e" tasks. I always keep Chrome tucked away in my back pocket just in case IE decides to act up. Honestly, IE isn't much good for anything else, but when it comes to handling my professional business, it’s always done the job just fine without any headaches.

ruggedheron13 said:Wait, so the gross amount won't actually show up in my summary? It'll just show $27?

Of course you will. Honestly, if you just go ahead and post those entries, everything becomes much clearer when you pull up the recapitulation report. You have to remember that your cash receipts and disbursements journal is one thing, but the recapitulation is an entirely different beast. Think of it this way: the recapitulation is what you submit alongside your tax return—it’s a summary of the year's aggregate data rather than a line-by-line list of individual transactions. While your ledger will show both sets of closings (which is perfectly fine), your recapitulation will simply provide a single figure for Expenses via Bank Transfer = $27.
You really need to finalize those postings and take a look at how that recapitulation actually generates. 😉

ruggedheron13 said:Regarding Part 2... I was thinking about how we actually close out an approval and handle that specific portion of the bill once it's been cleared. Whether we settle it with cash on hand or just run it through a business checking account... it’s always one of those little logistical hurdles. For instance, if I'm sitting here looking at an invoice right now... $33 And then there’s that whole business with getting approval for the account... everything just seems to be hanging in the balance right now... $6.75I'll just settle the remaining balance via wire transfer... I'm logging the $100.00 payment through the business checking account, and then we'll just wait on the IRS to approve the deficit... $6.75 I’ll just handle the payroll through QuickBooks... It leaves me with that one remaining expense for wages via QuickBooks... $27I’m thinking about tweaking the layout... maybe so that the option for PayPal pops up right away during checkout... just to make things smoother... $27So, regarding the remaining balance on the account... I was thinking, would it be best to just book that as an in-kind credit for the exact same amount? It seems like the cleanest way to handle it all... if that makes sense...

Personally, I run everything through the bank because at the end of the day, your summary report will show exactly $80.00 as a bank transfer.
Essentially, $33 total expenditure via bank transfer -$6.75 expenditure via bank transfer = $80.00 in bank transfers; that's what you'll see reflected in your $27 summary.

ruggedheron13 said:I could really use some help here... does anyone know the proper way to close out an Unrecoverable Error...

So, I was thinking about this little scenario... A small business owner goes in, pays cash for some retail goods, then decides they don't need everything and brings part of it back for a refund. It’s one of those little accounting puzzles that makes you pause for a second... How should I handle the entry? Should I record the return as a negative amount against the original purchase, or just treat it as a separate cash receipt... I'm weighing my options here...

So, I’ve got this situation with a cashless account, and we actually received an approval for the invoice. The difference was settled via a standard bank transfer, but now there's still this outstanding amount sitting there—the part we originally got the green light for. How should I handle the bookkeeping on this one? Should I be recording the accounts payable in the red, or mark it as a payment in kind, or just straight up as a wire transfer... I'm a bit stuck... Thanks.

1. The vendor should have issued either a credit memo or a formal reversal for that specific amount. You can close it out by running the AP entry into a negative balance. Then, at year-end, when you're explaining discrepancies between your sales tax summaries and the actual deposits hitting your Chase account, you'll just provide the statement showing that the funds were a refund for overpayment rather than new revenue.

2. Handle the credit memo by running the AP entry into a negative. Personally, I usually settle these through a bank transfer since that's how the money actually moved. Essentially, you'll end up with a positive balance on, say, $33, a negative credit memo of $6.75, and once you offset them both, it reflects the actual payment made through your business checking account $27.