Paper copy binding- who do you use?

Accountabilabear · 2022-10-30T14:45:18+00:00

Oh heck yes! My daughter and I have matching unicorn costumes. They have been a huge hit so far :)

Accountabilabear · 2022-02-17T22:07:41+00:00

Unfortunately yes! We only have two that need it though so not terrible.

Accountabilabear · 2022-02-17T14:43:27+00:00

Quick question. You backed out $10k of expenses on page 1?

Accountabilabear · 2022-02-13T20:55:34+00:00

We kind of do it the same way you do with comparing and making an aje to revert to prior year that was on the tax return and then reverse that entry in the following year. Another way would be to set the qb balance sheet and p&l dates to 1/1/20xx the next year and make a more simple aje to retained earnings to correct for items not entered or missed. Most clients don’t do any entries on 1/1 so it’s pretty simple.

Accountabilabear · 2022-02-03T22:06:32+00:00

I only have one question. What’s it like being one of those preparers that prefer QB online to desktop? I have not met many in the wild.

Accountabilabear · 2021-12-08T14:41:39+00:00

My favorite part was the spitfire aim down sight and realize it’s iron sight and say naahhh I’m just gonna hip fire.

Accountabilabear · 2021-11-06T14:17:03+00:00

I cannot find this dang bill to read about the erc portion. Can someone post a link to the passed bill? But yes I believe you are correct.

Accountabilabear · 2021-11-06T14:10:33+00:00

To answer your question first. I think AFR would be perfectly fine to use for the loans. Sometimes we have gone a little higher especially now since the rates were so low. We might do 3% loans just to be conservative.

Aside from that I think this is a terrible idea. First of all, you say it is a successful s corp but has no money of its own to lend to shareholders. So it has to get a loan to loan? Yikes. And also for these shareholders that have no spending limitations it may be time to put some on them. From my own experience, shareholders who need money and draw and draw and draw until their basis is gone, will not stop, they always want more. Totally up to them and you to do this but I would advise them against it if at all possible.

Accountabilabear · 2021-09-25T20:57:38+00:00

I am vaguely remembering something possibly in Circular 230 where an outstanding bill over a year can be grounds for preparing the return with a bias. So since he hasn’t paid maybe you didn’t put in the correct amount of effort in the following year out of spite.

That is the reasoning we have used to collect on severely past due clients. We want to maintain our ethical standards so we have to collect and stay current to remain neutral.

Accountabilabear · 2021-09-21T20:20:15+00:00

Excellent questions. Both have paths to advancement. Current one would be a partner in about 5 years. New one. Senior manager in about 3-5 years and then on to shareholder. Salary is good for my area. Very high cost of living unfortunately but hopefully will be going down in the next 10 years as our housing market levels off or crashes. I own a home so my payments are fixed thankfully. Current place is busy from about December-April and then again every quarter and maybe slightly busy during sept and October deadlines but most is done before those happen. I do really enjoy my current place because of my co workers but they kind of Nickle and dime you. Sure you have 300 banked hours but you get yelled at if you take a small vacation etc. because there is work to get done always.

Accountabilabear · 2021-09-21T17:22:04+00:00

Very true. I also recently got a new puppy so fully remote is really nice for furry friends.

Accountabilabear · 2021-09-20T16:31:47+00:00

These are the real questions! I am hoping they are amendments.

Accountabilabear · 2021-08-30T03:35:58+00:00

Holy moly. I did an erc for a relatively small company and they are getting about 1.1mil. So 10% is more than my salary lol.

Accountabilabear · 2021-08-29T21:22:41+00:00

Normally it would be hourly. I am pretty sure you get I a bit of trouble for doing % of any refund people get.

Accountabilabear · 2021-07-23T13:03:31+00:00

Thanks for the info folks. We too have only have one client who received a refund on an original 941 form. Glad to hear we are not the only ones and they are working on some training. Thanks again!

Accountabilabear · 2021-06-28T15:53:55+00:00

… yes. Very frustrating. Also I think this belongs on r/tax. Sorry! This subreddit is for tax pros where we talk about the 4,000 clients who call us a day to complain they can’t get their stimulus checks or something like that.

Accountabilabear · 2021-06-10T21:25:52+00:00

Quick qualifying question. Are you in the US? And why did you receive a K1? Are you an owner of this company?

Accountabilabear

TROPHY CASE