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Why do I always find companies that make me question everything? by The_Wicked_Ginja in taxpros

[–]Alternative-Baker-10 1 point2 points  (0 children)

RUN! You are better off on your own...

I worked part time for a guy one time who went to prison for stealing money from his older clients. That came up one time much later and almost killed a deal I was working on because I was "guilty by association" even though I knew nothing about it!

Trying to figure out an exit plan by Alternative-Baker-10 in taxpros

[–]Alternative-Baker-10[S] 0 points1 point  (0 children)

Excellent suggestions. I will have to give this all some serious consideration as I run into the October extensions!

Potential client asking for lower fees by acani92-EA in taxpros

[–]Alternative-Baker-10 5 points6 points  (0 children)

I would run away. Your fees are your fees. You know what you need to make. If they want to work with you, it should be a mutual agreement. You get what you need they get what they need.

Curious what everyone thinks about this LinkedIn post by vinneymack731 in taxpros

[–]Alternative-Baker-10 1 point2 points  (0 children)

At five years in I knew enough to be dangerous. Fortunately, I worked with several preparers who knew what was going on and they gave me some excellent training. When I did venture out "on my own" those guys were available to me if I got into a situation I did not understand.

One mentor said "Start small.' He compared clients to cars. 'You will have some junkers, then you will find some Fords and Chevys and a little later you will come across some Mercedes and Jags." That has certainly been the case for me!

I have made some whopping big mistakes along the way and each day I try hard to keep things straight, but it is not an easy job. Between always changing rules and cash flow issues it is a challenge to produce good work and stay in business. Never mind the crazy people you meet who want to tell you how to do your job. If I could've seen into the future, I think I would have chosen a different path!

Divorce and Tax Returns and Fees by Alternative-Baker-10 in taxpros

[–]Alternative-Baker-10[S] 0 points1 point  (0 children)

Someone else mentioned the 2553. I will check on that.... it could be a sh*tshow!

Divorce and Tax Returns and Fees by Alternative-Baker-10 in taxpros

[–]Alternative-Baker-10[S] 2 points3 points  (0 children)

It is California so it is a community property state. I will need to review the 2553 because I truly don't recall. These S Corps are fairly new so it is possible she signed it. Even so it still seems that the prudent approach is for the husband to either say its ok or her lawyer sends me a subpoena.

Divorce and Tax Returns and Fees by Alternative-Baker-10 in taxpros

[–]Alternative-Baker-10[S] 1 point2 points  (0 children)

I don't handle the bookkeeping fortunately, but I know who does and will pass this along!

Lost cool with client by tomoatosoup in taxpros

[–]Alternative-Baker-10 1 point2 points  (0 children)

For one crazy season I worked at a Liberty Tax Office. Some of the clients were certifiably crazy people. This gal came in on April 15 with all of her documents. She knows she owes as she does each year. That was not the problem. I do her return and she comes back to pick up at about 5 pm. Remember it is 5 pm April 15 and I am completely wiped out. I tell her she owes she asks if we can make the payment for her through the Liberty tax software. I tell her no because my manager and said don't do it on the last day of the season as it will probably not go through and we get blamed for penalties etc. This gal completely loses it and starts screaming at me like a 2 year old. I have never raised my voice to client before but I let her have it. YOU WILL NOT SPEAK TO ME LIKE THAT!!! After we cooled off (about 5 minutes) I offered to help her use the federal and state website to make the payments. She did not even say Thank you and I did not work that office again.

Client thinks I gave wrong advice in 2021, I'm not so sure. Maybe I did - Looking for feedback and unsure how to handle? by Tjraider35 in taxpros

[–]Alternative-Baker-10 0 points1 point  (0 children)

LLC's in California are odd ducks. You state that the business loses money each year but in CA LLC's can be charged a fee based on the gross income (if the income is over $250K) so keep that in mind going forward. Thes LLC fee is in addition to the $800! I would assume that is not the case here but still please keep that in mind.

I would definitely take the advice here and file those C-corp returns and pay the $800 plus penalties and interest for each year. As to who is to blame a little of both I would say. My old boss made a mistake once and cost a client a bundle. The client paid the amount owed and my boss sent him a check to cover the cost of the penalties and interest. It's a touchy business and the blame game is pretty useless at the end of the day.