Posts by Justin Myers7

silverbadger said:I’ve run into a bit of a situation where an employee transitioned from part-time to full-time status. Right after that, their last name changed, and now I’m completely stuck because I can't pull up the specific Form-1 that shows the update to their working hours. Does anyone happen to know the workaround for this? To be honest, the folks over at Medicare aren't exactly known for being friendly, so I’d really love to avoid a trip to the local office if I can help it; I can already picture the attitude, getting some side-eye and hearing things like, "Why do you accountants always have to make everything so complicated?"
I was browsing through the online portal, and it seems like I can't actually print out individual historical forms for a single worker—it just keeps showing me the very last one submitted. Is everyone else seeing the same thing on their end?
It was definitely my own mistake for not logging into the portal every single day to download that Form-1 immediately after the change went through. 😵
Now I’m just sitting here hoping I don't get hammered by some intense government inspector because of this little oversight.

In New York City, you just have to walk it off... Print the Form 1 and get those steps in.

I could really use some help here,

So, I have an architect who runs their own independent practice through an architectural firm, and I’ve been wondering if they can legally operate that as a secondary business activity. For instance, I know a lawyer wouldn't be allowed to do that because of how the legal profession act is structured,
but despite all my digging, I haven't been able to find anything stating that a licensed architect is prohibited from holding that role as a second job.

If anyone happens to be more clued in on this or has dealt with something similar, I would be so grateful for any insight you could share.

Thanks!
To me, it’s the only thing that makes sense, though it's always a bit tricky when you're getting unsolicited advice from some "old school" accountant...

I could really use some help here!

How should I handle recording depreciation when transitioning from a standard corporate tax structure to a simplified cash-basis system?

As of January 1st, 2016, I have roughly $5667 in unamortized fixed assets (DI), and then on January 1st, 2017, I’m making the switch to the simplified method.

For my business receipts, I'm looking at:
- the fair market value of the long-term assets,
And for my business expenses:
- the book value of those long-term assets based on the inventory at the moment of liquidation,

My question is: does that "fair market value" refer to what it was worth back on January 1st, 2016, or something else?

Thanks so much in advance!

From what I’ve gathered regarding this exact scenario, you don't need to worry about paying tax on the acquisition of goods up until $25667, but when it comes to acquiring services, you definitely have to account for and pay the sales tax.

I’m running into a bit of a snag with the IRS website... after I submit my request regarding the Black Panther Party, this message pops up:
"Error retrieving tax accounting record. Please try again."

I make sure to file all my forms and everything else right on schedule, too!
Is anyone else dealing with this kind of glitch??

ruggedmaker2 said:Help me out here, people 🙂
A colleague who handles all our enrollments and cancellations came down with the flu, so I had to jump in and handle a family member's enrollment through Medicare myself. Long story short: the system completely tanked on me.

Normally, we have everything set up so she can just breeze through it all online, but since she’s out sick and this was an emergency, I had to step up and try to fly solo. 🙂
I couldn't even get the online portal to load. I eventually lost my cool, gave up on the tech, and just filled out a paper Form 3 for the guy, telling him he’d need to take it down to the local office and try his luck at the service window.

What happens if they won't accept the paperwork at the counter? Is the whole digital system actually glitching out right now, or am I just losing my mind and doing something wrong? 🤔

I was actually over at the Medicare office yesterday, and they told me their entire system has been down for eight days straight. 🙂

Betty King7 said:So, what you're saying is that regardless of whether a company is registered for sales tax or not, we don't need a tax ID if the vehicle purchase stays below $25667?
I've tried reading up on this, but frankly, I'm lost. From what I gathered, does this only apply to companies that aren't part of the sales tax system?
This is my first time doing business within the European Union.
What am I even supposed to do at this point?

You read that correctly; those specific rules apply to companies that aren't currently under the VAT regulations.

Terry Sullivan56 said:Look, if you already filed that person through the online retirement portal, they aren't going to accept a manual application at the health insurance desk. Once you start a process that way, you have to see it through to the end. That's just how the bureaucracy works.

I've been there. Proven fact.

Wait, is this actually happening now??!! Up until lately, they were always so reliable about processing those physical forms at the local county offices... maybe things are changing in the system.