Posts by Sophia Ortiz

Can't believe it's already that time of year again. I'm looking at these roster predictions and it's crazy how much could change before the first real game. Which team do you guys think has the most to prove this season?

restlesshound26 said:I stopped by the local Chase branch earlier today to look into some FARC stuff, and I have a couple of questions...

1) Now that they require authorization via an authenticator app, does that mean they'll have full access to snoop through my account details whenever they feel like it?
2) Looking at my statement, the amount in the "debit" category is roughly $33, and the "credit" category shows $33, while everything else sits at a flat 0.00. Am I actually in the red here or not? I'm currently between jobs after quitting my last position last year...

2) You don't owe anything.

You don't have to just sit there and take it. Why not report the code of conduct violation? They are expected to maintain professionalism. Speak up instead of staying silent and suffering through it—that’s how you actually see things change. This kind of mindset is just a relic of old-school collectivism bleeding into today's 😁
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Arthur Lopez3 said:As far as I know, there isn't any automation involved here.
Medicare has no way of knowing if an employee moved or changed their last name, let alone who their dependents are.

Correct me if I'm wrong.

Reporting changes for insured individuals or adding and removing dependents can be done through the online portal.

Medicare & Medicaid Services can potentially access that information through the address change filings submitted by the local Police Department. The real question is whether those two agencies have actually integrated their databases yet. I heard that the rollout of the new federal digital ID system was supposed to bridge that gap, but I’m honestly not certain if that link is fully active.

In that case, members will likely have to cover the costs themselves.

Are we responsible for manually updating employee addresses in the health insurance filings, or does Medicare handle those changes automatically?
Also, regarding enrollment for family members—does the employer manage that process, or is it handled by Medicare automatically, just like the employee's own coverage?

Robin Kern76 said:Ugh, thank goodness I actually handled it right. That IRS depreciation schedule totally threw me for a loop because I was convinced the accountants had to fill it out too... but then I saw the "Useful Life" column where it says (0 = sold), so I figured—hey, maybe I should include the stuff we already sold just to be safe? 🤦

Turns out, I didn't even need to touch that specific form in the first place. Total waste of my time, really. 🤦🤦 😬

Thanks! 🙂

👍

Robin Kern76 said:Ugh, I’m honestly just totally lost when it comes to this IBM stuff. I mean, I definitely agree that the IRS agents don't have a clue how to actually read the reports we're attaching—especially the gross balance sheet. 🙄
To be fair, no auditor ever asked me to send over an IBM before. At my old job, I just did exactly what my supervisor told me to do, so I figured I’d just stick to the routine. But now that you guys are saying it isn't even necessary... maybe I just won't bother sending it at all.
But then why on earth does the IBM form even exist on the e-filing portal? Is it strictly for sole proprietors? 🤔

And one more thing regarding IBM—if I sold off some assets back in 2015, can I just scrub them from my inventory immediately, or do they have to stay on the books through the end of 2015?
I run everything through Excel, so I just deleted the sold items from the spreadsheet, cleared the total net book value in the financial statements, and did a value adjustment on the 039 standard. Just your typical write-off.
So, if I started with 150 items, sold 50 of them, and ended up with 100 items on December 31, 2015—is that actually okay?

Once an asset is sold, it is written off and shouldn't—meaning, it absolutely cannot—remain on that specific list or registry. It should only stay on the books if it hasn't been sold or disposed of, regardless of whether its value is zero. So, what you did sounds perfectly fine.

Robin Kern76 said:From what I understand, you always bundle those attachments with the PD—we're talking balance sheets, income statements, gross balances, and that full list of fixed assets. Basically, you'd always be submitting all of that stuff together.

The Deloitte report and the R&D Group findings aren't actually attachments to the P&L; they are distinct financial statements. As for the gross balance sheet, whether an IRS agent requests it as an attachment varies from one case to another. There isn't a universal rule there.

Maintaining a fixed asset schedule is mandatory, certainly, but it isn't something you submit as part of a Goldman Sachs filing.

For small business owners, the DI is the only entity required to file.

Anthony Jackson81 said:So, I just noticed something crazy on a worker's filing. He’s under 30, so basically, certain payroll taxes aren't even being paid on his checks. But when you look at the actual tax form, instead of showing the standard insurance base, it just says "exempt per contribution laws" under the employment status code. Like, what?! This means for almost an entire year, we've been dutifully paying nothing but the basic payroll withholdings while the rest of it just... vanished? And I didn't even realize they messed up the filing! I wasn't even looking for mistakes, everything seemed fine! Now I'm freaking out. What am I supposed to do now? Help!

That is exactly how it is supposed to look. Why would you think this is an error? When someone is using that specific type of exemption, that is what should appear on the paperwork. Consequently, you don't calculate or pay those specific employer-side payroll taxes.