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Thread: CPA Question

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    CPA Question

    I just received a W2 from a former company that i worked for. Didn't work for this company this year, but i sold stock that caused it to be reported through the company because of how long i held onto the stock. I no longer live in the state (MO) so this give me 1 W2 that needs to be reported with 80 dollars income on it. It's not worth paying my CPA to have to file for 2 states because of this. What are my options? should i just have the CPA do my federal and current state (KS) and do the MO online?

    THanks



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    Re: CPA Question

    IIRC, you don't have to file in two states unless you were a resident of two states. Not a CPA. Never stayed in a Holiday Inn Express...


    Last edited by kilgore_trout; 01-21-2010 at 08:52 AM.
    I was a victim of a series of accidents, as are we all.

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    Re: CPA Question

    Quote Originally Posted by kilgore_trout View Post
    IIRC, you don't have to file in two states unless you were a resident of two states. Not a CPA. Never stayed in a Holiday Inn Express...
    Really? My wife lives in KS but her job has an office in KS and MO and she has been filing in both.



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    Re: CPA Question

    Quote Originally Posted by kcclones View Post
    I just received a W2 from a former company that i worked for. Didn't work for this company this year, but i sold stock that caused it to be reported through the company because of how long i held onto the stock. I no longer live in the state (MO) so this give me 1 W2 that needs to be reported with 80 dollars income on it. It's not worth paying my CPA to have to file for 2 states because of this. What are my options? should i just have the CPA do my federal and current state (KS) and do the MO online?

    THanks
    If you have a CPA, give it to him. It is worth it to have him do it.That's what you pay him for. If you do it wrong and get an IRS letter you'll still have to let your CPA handle it. Clients get dropped for pulling this kind of crap.



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    Re: CPA Question

    When I interned in Green Bay, WI, I didn't have to file in two states. Just Iowa.



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    Re: CPA Question

    You do not have to file a MO return. It would fall below the required income threshold. If MO tax was withheld on the W-2, you would need to file to obtain the refund.
    Nonresidents and Residents with Other State Income



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    Re: CPA Question

    Worked in Missouri, lived in KS, changed jobs and moved to Iowa.... all in 2009.....
    taxes are going to be fun this year....



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    Re: CPA Question

    My wife is a CPA but only does Audit work. She works in roughly 6-8 states each year and receives a W-2 from her company for each state she works in and we have to file returns in all those states each year! If you are physically working in a state and earn income while there above the filing threshold, you must file a return in that state. I think the OP's $80 is below the threshold for filing for MO. Many companies don't do this correctly and don't issue W-2's and withold taxes correctly for working in other states. I know professional athletes pay state and local earning taxes and file returns in every state they play in during the year. Many states make a significant amount of revenue from a 3 day series playing the Yankees...



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    Re: CPA Question

    If you are on linkedin, you could put a question in the Accounting discussions. Chances are someone would have a good answer. Lots of CPA's on there.


    “Man suffers only because he takes seriously what the gods made for fun.”
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    Re: CPA Question

    Quote Originally Posted by CycloneCPA View Post
    You do not have to file a MO return. It would fall below the required income threshold. If MO tax was withheld on the W-2, you would need to file to obtain the refund.
    Nonresidents and Residents with Other State Income
    Thank you.



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