New York/Connecticut Association of Tax Professionals | Joan McGuinness | Activity https://www.nyctatp.org/members/joanmcguinness/activity/ Activity feed for Joan McGuinness. Thu, 30 Apr 2026 20:57:44 -0400 https://buddypress.org/?v= en-US 30 hourly 2 a4162ab92cd750817055b6a5c1177bd7 Joan McGuinness started the topic Client Needs Part-time Bookkeeper in the forum Tax Discussion https://www.nyctatp.org/forums/topic/client-needs-part-time-bookkeeper/ Thu, 13 Mar 2025 17:51:33 -0400 Hi everyone,

I have a client that needs a part-time bookkeeper for 20 hours per week. They need to be well versed in QuickBooks including the QuickBooks payroll, able to do CT On-line Sales tax, bank and charge card reconciliations with QuickBooks and other accounting related activities. The business is in Southbury. If you know of someone…Read more

]]> 98566f751a31661644032d0560e59dbd Joan McGuinness replied to the topic Irrevocable Trusts in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irrevocable-trusts/#post-15494 Sat, 17 Apr 2021 19:45:45 -0400 Thanks Tom! I did not know there was a name for this!! In this case it does have the EIN number and I thought of doing the nominee but was not sure if that was appropriate.

Many thanks!

Joan

]]> 03341bcbfb05b8bc1e29e9205466acb5 Joan McGuinness started the topic Irrevocable Trusts in the forum Tax Discussion https://www.nyctatp.org/forums/topic/irrevocable-trusts/ Sat, 17 Apr 2021 19:18:15 -0400 Does anyone in our group work on a lot of trusts? I have a client who just had a portion of his assets rolled into an Irrevocable Trust and tells me his attorney says I can include the 1099-DIV/B info from that trust in his tax return. My understanding of an Irrevocable Trust was, it must file its own 1041 return and issue an K-1 to the…Read more

]]> 334d3b7d8ecf34221ede4cf0d8e1eeef Joan McGuinness started the topic Federal Form 8958 (Community Property State MFS Allocation) in the forum Tax Discussion https://www.nyctatp.org/forums/topic/federal-form-8958-community-property-state-mfs-allocation/ Thu, 01 Apr 2021 17:21:18 -0400 Hi Everyone,

I just encountered a situation where the couple need to file married filing separate and in Texas, a community property state, you need to add the Federal form 8958 to show the allocation of all income property as 50/50. Am I mis-understanding this? You even split the W-2 income 50/50… Has anyone done MFS for a community…Read more

]]> 94f15bad5ffdd93314846a2e86cfd4a0 Joan McGuinness replied to the topic Exempt bond premium reported on 1099-DIV's in the forum Tax Discussion https://www.nyctatp.org/forums/topic/exempt-bond-premium-reported-on-1099-divs/#post-5760 Sat, 06 Apr 2019 05:57:28 -0400 Thanks Emmet!

]]> cf1e1810c26d1af63fe169c123c94712 Joan McGuinness replied to the topic Form 8960, Misc Investment expenses in the forum Tax Discussion https://www.nyctatp.org/forums/topic/form-8960-misc-investment-expenses/#post-5759 Sat, 06 Apr 2019 05:56:07 -0400 Thanks Tom for getting back to me on that! At least I am not the only one groveling with this question!

]]> 15ee36f983a84e47024ecdb4b4192c23 Joan McGuinness started the topic Exempt bond premium reported on 1099-DIV's in the forum Tax Discussion https://www.nyctatp.org/forums/topic/exempt-bond-premium-reported-on-1099-divs/ Fri, 05 Apr 2019 13:30:24 -0400 Does anyone know if you offset the tax exempt bond premium listed on the 1099-div against the tax-exempt interest reported on the 1099-DIV?

]]> f4a6ad1528f93f1f651050e5204c7a23 Joan McGuinness started the topic Form 8960, Misc Investment expenses in the forum Tax Discussion https://www.nyctatp.org/forums/topic/form-8960-misc-investment-expenses/ Fri, 05 Apr 2019 03:41:56 -0400 I tried to research this and could not find a clear answer. On Part II of the Form 8960, it lists the miscellaneous investment expenses as an adjustment to Net Investment Income Tax calculation. Now that Advisory fees are no longer deductible for Miscellaneous expenses on Schedule A, is it no longer deductible on 8960, too?

]]> 0dd6dec550d557a20ffa51229c596d69 Joan McGuinness replied to the topic CT-1065/1120SI Income Allocation in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-1065-1120si-income-allocation/#post-4661 Thu, 21 Feb 2019 23:49:15 -0500 I called the state of CT to walk through the CT-1165/1120SI regarding the income allocation to learn Ultra Tax is definitely calculating this wrong. As it turns out the CT1065/1120Si has now been approved, but, this issue has not come to surface with the state or Ultra tax. I also put in a phone call to Ultra Tax and this issue is now being put…Read more

]]> bc55fdcc3d81cf920472d0a905714af9 Joan McGuinness replied to the topic CT-1065/1120SI Income Allocation in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-1065-1120si-income-allocation/#post-4646 Thu, 21 Feb 2019 16:17:19 -0500 Hi Tom,

Thanks for getting back to me on this. The problem is not with the tax at the entity level and the CT PE Tax Credit, it is with the multi-state income allocation on the CT-1065/1120SI. I suspect it is an Ultra Tax problem, but thought to throw out the question on the allocation, just in case my program is doing it right. In may case,…Read more

]]> 8e5da41c0f76f6bc15ab1b12243016df Joan McGuinness started the topic CT-1065/1120SI Income Allocation in the forum Tax Discussion https://www.nyctatp.org/forums/topic/ct-1065-1120si-income-allocation/ Sat, 16 Feb 2019 21:44:03 -0500 I have a CT Partnership that for 2018 has 100.0% of it’s income in NYS. When preparing the CT-1065 with the Part II showing the CT source income at 0%, the tax return takes the “CT resident” partner’s distributive share at 100% and taxes the entire amount at the entity level. I am not sure if my program has a glitch or that is just the way CT…Read more

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