Can't reach IRS? Claimyr connects you to a live IRS agent in minutes.
Claimyr is a pay-as-you-go service. We do not charge a recurring subscription.
Using Claimyr will:
- Connect you to a human agent at the IRS
- Skip the long phone menu
- Call the correct department
- Redial until on hold
- Forward a call to your phone with reduced hold time
- Give you free callbacks if the IRS drops your call
If I could give 10 stars I would
If I could give 10 stars I would If I could give 10 stars I would Such an amazing service so needed during the times when EDD almost never picks up Claimyr gets me on the phone with EDD every time without fail faster. A much needed service without Claimyr I would have never received the payment I needed to support me during my postpartum recovery. Thank you so much Claimyr!
Really made a difference
Really made a difference, save me time and energy from going to a local office for making the call.
Worth not wasting your time calling for hours.
Was a bit nervous or untrusting at first, but my calls went thru. First time the wait was a bit long but their customer chat line on their page was helpful and put me at ease that I would receive my call. Today my call dropped because of EDD and Claimyr heard my concern on the same chat and another call was made within the hour.
An incredibly helpful service
An incredibly helpful service! Got me connected to a CA EDD agent without major hassle (outside of EDD's agents dropping calls ā which Claimyr has free protection for). If you need to file a new claim and can't do it online, pay the $ to Claimyr to get the process started. Absolutely worth it!
Consistent,frustration free, quality Service.
Used this service a couple times now. Before I'd call 200 times in less than a weak frustrated as can be. But using claimyr with a couple hours of waiting i was on the line with an representative or on hold. Dropped a couple times but each reconnected not long after and was mission accomplished, thanks to Claimyr.
IT WORKS!! Not a scam!
I tried for weeks to get thru to EDD PFL program with no luck. I gave this a try thinking it may be a scam. OMG! It worked and They got thru within an hour and my claim is going to finally get paid!! I upgraded to the $60 call. Best $60 spent!
Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
Has anyone else noticed that syndication sponsors are being super aggressive with cost segregation studies lately? I just got one that claimed 85% bonus depreciation in year 1 on a property that's clearly not that front-loaded with short-life components. Makes me nervous about audit risk.
Amara Torres
ā¢Yeah, I've seen that too. My CPA actually recommended we be more conservative and only take 65% of what the cost seg study claimed because he said the IRS is starting to look at "engineered" tax losses more carefully. Better safe than sorry with these things.
This is a great question that many syndication investors struggle with! The short answer is yes - you can generally use your $135k in depreciation losses from the new syndication to offset your $135k in Section 1231 gains from the sales, assuming both are passive activities for you as an LP. Here's what's happening: Your new syndication's cost segregation study creates passive activity losses, while your sale gains are likely passive income since you weren't materially participating in those properties either. The passive activity loss rules allow these to offset each other within the same tax year. A few important considerations: 1. Make sure both activities qualify as passive (sounds like they do as an LP) 2. Be aware that some of your gain might be depreciation recapture taxed at 25% rather than capital gains rates 3. Any excess losses get suspended and carried forward to future years Regarding the "benefit" of upfront depreciation - it's not just about offsetting rental income. It creates valuable tax deferral, and if you have suspended losses when you eventually sell a property, those losses can offset ANY type of income (not just passive). This is why cost segregation studies are so powerful for wealth building through real estate. I'd definitely recommend working with a CPA who specializes in real estate syndications to make sure you're maximizing these opportunities properly!
This is really helpful! I'm in a similar situation with syndication investments. One thing I'm curious about - when you mention that suspended losses can offset "ANY type of income" when you sell the property, does that include income from things like business sales or consulting work? I have a pretty variable income year to year, so timing property sales around high-income years could be a huge tax strategy if that's really the case.
Join the conversation
Yuki Sato
dose anyone know if the cycle code changes? mine was 05 last year but showing 02 this time
Carmen Ruiz
ā¢yep it can change each year. mine changes all the time, doesnt affect processing speed
The cycle codes dont mean anything anymore tbh. I've seen 02 people waiting forever and 05 getting paid quick. its all random now
Ravi Sharma
ā¢I disagree - cycle codes still matter for timing updates. While processing speed varies due to other factors like PATH Act holds or review flags, the cycle code tells you when to expect transcript updates. A 02 will always update Thursday mornings, regardless of how long the overall process takes.
Join the conversation
Just to add to the confusion lol - if you're a business that doesn't use the calendar year (like my company that uses July-June fiscal year), the tax year can be completely different! Our "2024 tax year" actually ended in June 2024 and we already filed those taxes. Tax years are the worst!
Emma Olsen
ā¢Yep! And some farmers and fishermen have different tax years too. My dad's farm uses a March-February tax year because it better matches his seasonal income cycle. The IRS is fun like that š
Great question! As someone who works in tax preparation, I always tell clients that during filing season (Jan-Apr), we're technically in the "2024 tax year" since that's what we're filing. But I like to be specific and say something like "We're currently filing 2024 tax returns, but any income you earn in 2025 will be reported on your 2025 return next year." The confusion is totally understandable because "tax year" can mean different things depending on whether you're talking about filing, earning income, or making estimated payments. When in doubt, just ask what they're specifically trying to figure out - are they asking about filing taxes now, or planning for income they're currently earning?
This is such helpful advice! I really appreciate the specific wording you use with clients - "We're currently filing 2024 tax returns, but any income you earn in 2025 will be reported on your 2025 return next year." That's exactly the kind of clear explanation I was looking for. I think asking for clarification about what they're specifically trying to figure out is smart too, since people might be asking for completely different reasons. Thanks for the professional perspective!
Join the conversation
One thing to consider while you're still small - get good tax PLANNING software, not just preparation software. That's where you can really add value and charge higher fees. I use Holistiplan for analyzing client tax situations and modeling different scenarios. Clients are way more willing to pay premium rates for help AVOIDING taxes rather than just filing returns. Something to think about as you scale!
Anita George
ā¢This is great advice. I started doing planning about 2 years ago and my average client value went up by almost 70%. Do you use Holistiplan standalone or integrated with your tax prep software?
Lauren Wood
Great thread! As someone who made the jump from casual tax prep to a real practice about 3 years ago, I'd echo the Drake recommendation but also suggest looking into ProSeries if you want something more budget-friendly to start. It's about $800-1000 for the base package and handles most everything you'll need early on. One thing I wish someone had told me when I was scaling up - invest in a good scanner and document management system early. I started with a basic flatbed scanner and it became a huge bottleneck when I hit 50+ clients. Now I use a high-speed duplex scanner (Fujitsu ScanSnap) and it's been a game changer for productivity. Also, don't underestimate the importance of having a solid intake process. Create standardized organizers and checklists for clients - it'll save you tons of back-and-forth emails asking for missing documents. Good luck with the expansion!
Fatima Al-Qasimi
As someone who just went through this exact situation last year, I want to emphasize something that might not be obvious - make sure you're setting aside money for taxes on your cash tips throughout the year, not just at tax time! I learned the hard way that when you don't report cash tips to your employer during the year, no taxes get withheld on that income. So come April, you could owe a lot more than expected. I now put about 25-30% of my cash tips into a separate savings account specifically for taxes. Also, if you're making decent money in tips (sounds like you are with $950-1150/week), you might need to make quarterly estimated tax payments to avoid underpayment penalties. This was a shock to me my second year bartending when I got hit with penalties on top of the taxes I owed. The good news is once you get a system down for tracking and saving for taxes, it becomes second nature. But definitely don't wait until next year to start - begin setting aside money now for this year's taxes!
0 coins
Connor Murphy
ā¢This is such important advice that I wish I had known when I started! I made the same mistake my first year - didn't set aside anything and got slammed with a huge tax bill. Now I use the "pay yourself first" approach where I immediately transfer 30% of cash tips to a separate account before I even leave work. One thing I'd add is to also consider opening a separate savings account just for tax money so you're not tempted to spend it. I use a high-yield savings account at a different bank so the money earns a little interest while I'm waiting to pay taxes. It also makes it harder to accidentally dip into those funds for other expenses. For anyone just starting out with this system - even if 30% seems like too much, start with something like 20% and adjust as you learn what your actual tax burden is. Better to have too much saved than too little!
0 coins
Jacob Lewis
This is such a helpful thread! I'm also in the service industry (server at a mid-range restaurant) and have been making the same mistakes with tip reporting. Reading through all these responses, I realize I need to get my act together before this tax season becomes a disaster. One question I haven't seen addressed - what about tip-outs to support staff? I typically tip out about 15-20% of my total tips to bussers, food runners, and bartenders. Do I report my gross tips (before tip-outs) or net tips (after tip-outs) as income? I've been unclear on this and it makes a big difference in the numbers. Also, for those using apps to track tips - any specific recommendations? I've tried a couple but they seem overly complicated for what should be simple daily tracking. The phone notes method sounds good but I'm worried about accidentally deleting something important. Really appreciate everyone sharing their experiences here. It's clear I need to start doing quarterly payments too based on what others have said about getting hit with penalties.
0 coins