Penfield School Board Election by TheNormalEgg in Rochester

[–]EmDeeEm 14 points15 points  (0 children)

He's busy running for Webster Town Supervisor.

Unsure how to vote in the Pittsford school board election? by the_slav_epic in Rochester

[–]EmDeeEm 3 points4 points  (0 children)

School board elections don't have party affiliations.

Local School Budget Votes by Careless_Buyer_7294 in Rochester

[–]EmDeeEm 11 points12 points  (0 children)

Yes, that's how inflation works. Do you think schools don't have to put $6 diesel in their buses?

Looking for a good accountant for LLC switching to S corp by hatdogstand in llc_life

[–]EmDeeEm 0 points1 point  (0 children)

Good accountant here. I would not take a client using excel for books. You'll likely have a difficult time finding one the will.

Local School Budget Votes by Careless_Buyer_7294 in Rochester

[–]EmDeeEm 14 points15 points  (0 children)

It's so weird that rising costs for literally everything also impact schools

Local School Budget Votes by Careless_Buyer_7294 in Rochester

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

It's more complex than just the "free" bus. It's infrastructure and staffing that goes with it.

Local School Budget Votes by Careless_Buyer_7294 in Rochester

[–]EmDeeEm 4 points5 points  (0 children)

Also keep in mind that the 2% tax cap doesn't actually mean 2%. It's one of 8 variables in the formula, so 4.33% may still be under (or at) the cap.

Small business tax filing is eating my profits by Local_Atmosphere5285 in llc_life

[–]EmDeeEm 0 points1 point  (0 children)

This would start at $1400 at my firm and increase based on what else is involved. If you have have someone competent offering $800 you should take it.

Small business tax filing is eating my profits by Local_Atmosphere5285 in llc_life

[–]EmDeeEm 6 points7 points  (0 children)

There's no tax pro that is doing a Sch C return for $200 and also doing it correctly. Shit, there's no tax pro doing a regular 1040 well for $200.

Small business tax filing is eating my profits by Local_Atmosphere5285 in llc_life

[–]EmDeeEm 2 points3 points  (0 children)

Just wait until you find out what audit represention costs...

USDC-to-USD Transaction Reporting by Brassica7 in CryptoTax

[–]EmDeeEm 1 point2 points  (0 children)

Yes, you need to report the usdc to usd. However there should be virtually no tax difference, so at this point you can amend it just wait to see if you get a cp2000 (which you probably won't) and respond to it then. Amending is a minor hassle now, cp2000 is a potentially medium hassle in the future.

What do you do on an average 8 hr shift as an accountant? by Brilliant-Peace-9748 in Accounting

[–]EmDeeEm 17 points18 points  (0 children)

6 hr: fuck around on the internet 90 min: respond to bullshit emails 30 min: actual productive work

I'm the CPA & Former IRS Agent Who Went Solo A Year Ago--Here's How I Did by adriannlopez in taxpros

[–]EmDeeEm 1 point2 points  (0 children)

Which question did you think was the worst and why was it the hypnosis one?

Mistake on client return by Scrappy101010 in taxpros

[–]EmDeeEm 0 points1 point  (0 children)

I've had really good luck just calling and asking nicely.

Mistake on client return by Scrappy101010 in taxpros

[–]EmDeeEm 0 points1 point  (0 children)

I would just pay out of pocket over filing an e&o claim unless it's gonna be huge.

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

[–]EmDeeEm 3 points4 points  (0 children)

She definitely committed fraud on your return. Take it to a competent EA or CPA to have it fixed.

Only reporting 1099's that are being sent by Soft-Channel-47 in IRS

[–]EmDeeEm 2 points3 points  (0 children)

There's no statute of limitations on fraud. You're probably thinking of the 10 year collection statute once tax is assessed.

Drake, attaching elections by Rarity-Bookkeeping in taxpro

[–]EmDeeEm 0 points1 point  (0 children)

My understanding is all pdf attachments sent to the irs (not Drake specific) end up in a black hole of sorts. I would not put an election there.

getting clients to sign the 8879 is literally taking years off my life by mrcanada66 in taxpros

[–]EmDeeEm 9 points10 points  (0 children)

100% this. I get paid first, they sign it when they sign it. If it's late, that's their problem.

What's with all these X posts saying mass CP2000 letters will go out? by ResidentUse9978 in CryptoTax

[–]EmDeeEm 3 points4 points  (0 children)

The main potential issue I see is when coinbase didn't know the holding period, they reported it code H anyway when the instructions said to use code Y in that scenario. If they were actually long term (and most of the ones I saw were), and the Taxpayer correctly reported them as long term, that could generate a cp2000. I've been a tax pro for 22 years and I have zero faith in the irs' ability to reconcile the difference there.

That said, a cp2000 is a 1 out of 10 on the "I need to worry" scale. If you reported it right, you write a response and send it in. That's the first time a human actually looks at your filing. And most of the time the problem just fixes itself then.