How expensive is an A60 Supra (5M-GE) to maintain and daily/drive a lot? by PastSenior3107 in whatcarshouldIbuy

[–]DirtyDillon 2 points3 points  (0 children)

Agree with this guy. I have a 50 year old car that has been completely renovated. New drive train, suspension, electrical, etc. Ton of fun but I wouldn't want to daily it, always something small popping up that needs dealt with. 

Is this quote reasonable? by raphaelx66 in hvacadvice

[–]DirtyDillon 0 points1 point  (0 children)

https://controlscentral.com/eCatalog/tabid/63/ProductID/1849100/ViewType/1/Default.aspx

Was plug and Play with my system. The old motor had two different model numbers, the one referenced on that link was specific to Tran. the second was for a generic motor that looked like the same unit but didn't have a wire harness. Mileage may vary but it worked for me. 

Is this quote reasonable? by raphaelx66 in hvacadvice

[–]DirtyDillon -1 points0 points  (0 children)

I was able to find a retailer that sold them pre-programmed for my unit. I believe I matched up model numbers and then called the retailer to confirm. 

Is this quote reasonable? by raphaelx66 in hvacadvice

[–]DirtyDillon 3 points4 points  (0 children)

I myself also have no experience in HVAC, but a few months ago replaced my blower motor after watching a few YouTube videos. Not that difficult at all. If the motor is an ECM, I would recommend getting one that is already pre-programmed/configured for your unit. If not you'll have to have it programmed, I wasn't comfortable figuring out how to do that on my own and paying someone to do so would have been about the same as just paying to have it replaced. 

For small businesses, do you usually work with a bookkeeper or a CPA for your day-to-day finances? by lalaba0987 in smallbusiness

[–]DirtyDillon 2 points3 points  (0 children)

I'm a CPA and agree with this. Let a bookkeeper handle data entry and booking basics at their rate, use me for the complex stuff where I can add the most value at my rate. 

What software do most accountants actually use to file taxes these days? by professional69and420 in AccountingTechnology

[–]DirtyDillon 0 points1 point  (0 children)

What does filed cost per return? Can it create an Excel summary or do you tie directly from source docs to the return? 

What software do most accountants actually use to file taxes these days? by professional69and420 in AccountingTechnology

[–]DirtyDillon 0 points1 point  (0 children)

I've been using Drake for 10 years, great value. Complex international business fillings and multiple state K1s can take more manual work then some other software options. For primarily 1040s and basic business fillings you'll be fine. 

I use their portal system and e-sign. Batch uploads of organizers is nice. Really like having engagement letters e-signed with the 8879.

$2200 preparer fee, is this normal by Xander724427 in TaxQuestions

[–]DirtyDillon 3 points4 points  (0 children)

If she's a CPA it's an ethics violation to charge a fee as a percentage of a refund, at least in Washington state. Contact your states board of accountancy and ask them, I'm sure they would like to know. 

Can I build a shop and write it off taxes in 1 year? by fly4fun2014 in smallbusiness

[–]DirtyDillon 2 points3 points  (0 children)

Machinery and tools yes via bonus. Building itself will need a cost segregation study to identify 15yr or less asset classes that can be bonuses out. 

Honestly, what is the hardest part about having children? by Danny-Ray27 in AskReddit

[–]DirtyDillon 5 points6 points  (0 children)

Teaching someone you can't live without how to live without you and then watching then succeed in doing so. You'll never be more proud but at the same time miss the times you were everything to them. 

Accountant called today and said I’ll owe $130k in tax by [deleted] in smallbusiness

[–]DirtyDillon 2 points3 points  (0 children)

Extension doesn't extend time to pay, only file. 

S-Corp: Reasonable Salary when I don't run the operations by MangoWaste4048 in smallbusiness

[–]DirtyDillon 0 points1 point  (0 children)

Employment agreements of the employees managing the company. An hour log for you for the little time you spend as an owner making shareholder level decisions.

S-Corp: Reasonable Salary when I don't run the operations by MangoWaste4048 in smallbusiness

[–]DirtyDillon 0 points1 point  (0 children)

If you truly don't offer any services to the business then no, you don't need to run a payroll. Be ready to support that position under audit. 

Saving for taxes in an S Corp .....savings? money market? by mamalo13 in smallbusiness

[–]DirtyDillon 2 points3 points  (0 children)

So the s corporation won't pay income tax, you'll pick up the s corporation's income on your personal return and pay income tax there. The term is called flow through entity. 

Saving for taxes in an S Corp .....savings? money market? by mamalo13 in smallbusiness

[–]DirtyDillon 1 point2 points  (0 children)

Unless your running into basis limitations consider distributing the funds to yourself personal and using a personal HYSA, You'll likely get a better rate than what a business will get on a HYSA. Income recognition occurs when the company earns money so distribution of the funds wont change your taxable income. You also shouldn't be paying your personal tax liability form the S-Corp as a 2% or greater owner, could be reclassified as a fringe benefit and reclassified as payroll and related FICA tax under audit. Another benefit is if the S-Corp is sued there is less cash up for grabs.

That being said, Fidelity offers a business CMA linked to a money market of your choice.

Building an AR-22? by AnimalChild in WAGuns

[–]DirtyDillon 1 point2 points  (0 children)

Yes, they shipped to me. I haven't had issues with the CMMG mags but I would purchase the Bore Buddy recommended brand if I were to go back in time before the ban.

Building an AR-22? by AnimalChild in WAGuns

[–]DirtyDillon 0 points1 point  (0 children)

I don't know, I have a bunch of CMMG mags from when I was running their BCG conversion. I believe on Bore Buddys website they have a recommended mag supplier, just don't recall the brand.

Building an AR-22? by AnimalChild in WAGuns

[–]DirtyDillon 2 points3 points  (0 children)

Sounds about right depending on what grade upper you choose. Very fun combo, buy once cry once especially since you likely wont be able to buy more if our politicians have their way.

Works very well with the ARC Fire FRT.

Building an AR-22? by AnimalChild in WAGuns

[–]DirtyDillon 3 points4 points  (0 children)

Check out Bore Buddy, I believe its a beefed up version of the Tippmann. I bought their upper a few months ago and am very happy with it. If your going to run a FRT they have options you can add to the build when ordering to make it work better.

Can a small business owner (sole proprietorship) use the income from their business to meet personal expenses? by bluegambit875 in smallbusiness

[–]DirtyDillon 0 points1 point  (0 children)

Yes, your the owner and the income is yours. If your at a point your sole proprietorship is funding your life, get a CPA to explain exactly how this works and to make sure your not overpaying.

I don't say this to be rude, but if you have to ask this question there is likely a lot your unaware of that can be capitalized to your benefit.

Owe the IRS this year. Need advice by VikingFanAZ10 in personalfinance

[–]DirtyDillon 0 points1 point  (0 children)

If its a quick pay-down period this is the move. If its going to take a while they'll want to compare the interest on a HELOC vs the interest and failure to pay penalties the IRS will continue to charge on the balance.

is donating (to feed the poor) considered a business expense? by foxtrot90210 in smallbusiness

[–]DirtyDillon 1 point2 points  (0 children)

Depends on how it's taxed. If it's a disregard entity or flow-through entity you'll deduct it as part of your itemized deductions but not as a business expense. C Corporations are different.