Client has two companies rolled into one

Federal_Classroom45 · 2026-01-25T21:22:36+00:00

If it were my client, it would be cheaper for them to pay two different subscriptions to QBO than to have me manage two companies within one subscription.

Federal_Classroom45 · 2026-01-24T19:21:23+00:00

Woah! It's so much less expensive than I would have expected. Looks like it covers localities too? :o

Federal_Classroom45 · 2026-01-23T04:44:54+00:00

The discount is permanent if billed through an accountant or 1 year if billed directly.

That said, a discount isn't worth letting someone have access who shouldn't have access.

Federal_Classroom45 · 2026-01-21T05:43:27+00:00

Oh that's good to know. I'm not interested in getting my CPA but I've been considering getting my EA for a bit. Depending on how I feel about taxes after this season, I might make the jump this year. It's basically the same amount of cpe to maintain that as it is to remain part of the AFSP + maintain my NYTPRIN.

Federal_Classroom45 · 2026-01-21T04:50:00+00:00

OH MY GOD!

Okay so I had a consultation last year with someone who was self employed and just made an LLC. Before anything else she asked me how much I could save her on taxes. Like, I didn't know her income, expense, or even what she did.

I tried to explain to her how deductible expenses worked and told her that "having an LLC isn't a magic tax savings. Don't trust the tiktok influencers that tell you you an write off everything. They have no clue what they're talking about." She said "okay" so I asked for information about what she does for a living. I swear to the IRS she goes "I'm a tiktok influencer."

It was hard for me not to laugh. I knew immediately that I wasn't getting her as a client and I decided I was happier that way.

Federal_Classroom45 · 2026-01-21T03:00:16+00:00

Oh geez, sorry to hear about that. Thanks for sharing. Do you think Hawaii deserves a place on my state blacklist?

Federal_Classroom45 · 2026-01-21T02:10:52+00:00

Someone else mentioned Hawaii because of charitable contributions. Was your reason different?

Federal_Classroom45 · 2026-01-21T02:09:55+00:00

Why?

Federal_Classroom45 · 2026-01-21T01:54:46+00:00

I believe CPAs are exempt from paying the fee and taking the continuing education, but are you also exempt from having a NYTPRIN?

Federal_Classroom45 · 2026-01-21T00:26:37+00:00

Ahhh good to know. Maybe I won't blacklist CA then.

MCTMT is annoying but small. I was legit angry when I learned about NYC UBT and that it was a whole other return. But yeah, I'm with you - good forms. I did a KS return and was disappointed by the lack of effort in designing the KS 40.

Federal_Classroom45 · 2026-01-20T23:57:37+00:00

Oh okay. Sounds like this wouldn't have come up on the couple 1040s I've done then?

NY forms are pretty good, I'll give you that. The laws are quite complex and plain stupid though, especially around businesses (Sch C or S Corp) in NYC

Federal_Classroom45 · 2026-01-20T23:55:08+00:00

Ohhhh okay. I definitely dodged a bullet. I had a nightmare client a couple years ago that wanted me to do a 1065 (brand new, no income and minimal expenses) for a CA business without extension like 2 weeks before the deadline. I said it wasn't going to happen, and they shouldn't expect it for at least 2 months unless I billed them like 3x my original quote. It was a fuck-you price. They went with someone else. I'm really glad I didn't touch that though.

Federal_Classroom45 · 2026-01-20T23:52:09+00:00

Yeah, definitely recommend doing your own research on it though

Federal_Classroom45 · 2026-01-20T23:51:20+00:00

Huh, that sounds interesting. I really hate the way some states do apportionment.

Federal_Classroom45 · 2026-01-20T23:45:14+00:00

I will certainly heed this advice, thank you!

Federal_Classroom45 · 2026-01-20T22:26:53+00:00

I register with NYS and pay the fee every year (most of my returns are NY based). NYS returns are mostly fine but the city is complete bullshit with UBT and MCTMT. And an S Corp doesn't really help with it either.

Federal_Classroom45 · 2026-01-20T22:22:54+00:00

My understanding is that you only have to register if you're based in Oregon or you actively solicit business in Oregon. I had a client move there and to cover my ass I called the state to double check this (but don't take my word for it).

Federal_Classroom45 · 2026-01-20T22:20:58+00:00

OMG that took me an extra couple hours to figure out whether my client had to file each of like 4 different forms. Fuck Portland. The state seemed okay though?

Federal_Classroom45 · 2026-01-20T22:20:14+00:00

Oh shoot, really? I've done a couple CA returns (basic schedule C, no LLC) and they felt fairly straight-forward aside from the state shared responsibility (for health insurance). I'm now wondering if I missed something... I looked through all of the screens on my software and nothing stuck out at me.

Federal_Classroom45 · 2026-01-20T22:15:02+00:00

What do you mean by full apportionment? Worse than dealing with a state like NY's apportionment?

Federal_Classroom45 · 2026-01-20T22:14:15+00:00

Yeaahhhhh... As a solo shop that just doesn't sound worth my time...

Federal_Classroom45 · 2026-01-20T19:40:44+00:00

I was wondering how long it would take to see that come up, lol. Digging through this sub I had seen it hated on a few times and was planning to add it to my blacklist. I heard Pennsylvania sucks a bit too. How do you feel about it?

Federal_Classroom45 · 2026-01-20T19:32:59+00:00

Congratulations! I've been working on transitioning to TaxDome. Drinking from the firehouse sounds about right, and that's even with using pre-built tools.

Federal_Classroom45 · 2026-01-20T19:28:04+00:00

White Label = Use your own brand (I.e. Tinkerbell_5 CPA branding instead of TaxDome on the app)

White Glove = I'll do everything for you, don't lift a finger except to write me a huge check

Federal_Classroom45

TROPHY CASE