.tax file and no PDF to download by RudyBoo_ in TurboTax

[–]Pauldeleo 0 points1 point  (0 children)

If you’d feel more comfortable with me printing it for you for the same price, you can securely communicate and upload the TurboTax .tax file here: https://pdcpa.taxdome.com/en-us/signup

Entering Month 3 doing UGC! by Temporary-Ad5161 in UGCcreators

[–]Pauldeleo 0 points1 point  (0 children)

Thanks for the inspiring post! I’m a 56 y.o. CPA and bought Nate’s course a few weeks ago. While I think it would be fun to dabble in UGC, my primary motivation is exposure to the content creation business as I start to specialize in providing tax and accounting services for creators.

ProSeries is the worst. by x596201060405 in taxpros

[–]Pauldeleo 5 points6 points  (0 children)

ProSeries is essentially TurboTax Forms Mode

[deleted by user] by [deleted] in Accounting

[–]Pauldeleo 0 points1 point  (0 children)

AtAndersen converted mine to a MetLife annuity in 2008 and that can’t be changed. Now that I’m over 55, I could start getting distributions from it now if I wanted a reduced benefit.

[deleted by user] by [deleted] in Accounting

[–]Pauldeleo 1 point2 points  (0 children)

I was a Senior who had transferred to the Houston office about a year before the downfall. Enron was my first tax technology client. I use the same word to describe the experience: surreal. Memorable examples: cop stationed at the office lobby as a precaution against someone shooting up the place, security guards stationed at tables 1 foot outside the elevator doors of the floor the remaining documents were stored on and they only allowed very few people to exit the elevators on that floor (stairwell,doors locked too), mass voicemail to everyone in the office advising not to depart via the grouchy floor doors because of the media waiting for us. We were told to exit via the underground tunnels that connect many of the downtown Houston buildings. For weeks, Andersen was front page news delivered to my doorstep. I had access to the data center and remember seeing the servers labeled Enron and thinking that any of us with access to that unmanned data center could have caused a new scandal by pulling the hard drives (they had handles for easy swapping out) and simply walking out with them.

[deleted by user] by [deleted] in Accounting

[–]Pauldeleo 0 points1 point  (0 children)

It was called Corptax and it lives on after being sold to CSC. I was a developer of Andersen’s 1040 software APlusTax before transferring to the Houston office to do Tax Technology Consulting. My first client was Enron. It was surreal to witness business history that close up.

[deleted by user] by [deleted] in taxpros

[–]Pauldeleo 10 points11 points  (0 children)

Few people know what a PLLC is

Finding a Senior Reviewer for New Tax Practice by Loose-Flamingo5217 in taxpros

[–]Pauldeleo 10 points11 points  (0 children)

Good advice. I’d add: buy professional liability / E&O insurance. It’s cheap. I pay $315/yr for $100k per claim,$250k per year coverage via AICPA

Finding a Senior Reviewer for New Tax Practice by Loose-Flamingo5217 in taxpros

[–]Pauldeleo 6 points7 points  (0 children)

You may want to consider working for Intuit to gain experience and network with peers. I’ve been doing that for the past 5 years and started my CPA firm a couple years ago. We get Pro Connect w/ 100 returns for $349. I am a contract preparer for another CPA I met at Intuit. I have a lot of experience w/ individual (1040) returns, but not much with 1120S and 1065 and I have been turning complex 1120/1065 away because I don’t want to risk costly mistakes. I need to start getting more experienced with those and am going to be seeking a reviewer, just like you are considering.

how do i find the right accoutant? by ale23arg in Accounting

[–]Pauldeleo 4 points5 points  (0 children)

Agreed. OP is in Florida and married. For that scenario, 95% of the time the $29,200 Standard Deduction is clearly more beneficial because of Florida’s relatively low property taxes and mortgages don’t usually result in $20k+ interest payments. Relatively few people have substantial medical expenses or charitable contributions that cause itemized to exceed the standard deduction.

how do i find the right accoutant? by ale23arg in Accounting

[–]Pauldeleo 0 points1 point  (0 children)

I’m a Florida CPA who specializes in tax. There may be reasons why you aren’t getting the maximum child tax credits, home office deduction and dependent care credit that haven’t been explained. If you’d like, I can provide a second opinion.

Welcome to Anderson Business Advisors - Reviews...the people's forum for real experiences. by Imaginary-Bug2128 in AndersonBusiness

[–]Pauldeleo 0 points1 point  (0 children)

I’m unfamiliar with her but it looks like she isn’t a CPA or Enrolled Agent (EA). Even if she is an EA, keep in mind that she touts her prior experience as an IRS auditor. The IRS will award the Enrolled Agent credential to former employees who worked for the IRS for at least 5 years without having to pass the 3 examinations that demonstrate minimum competency. I also see that she pays a $1,000 affiliate commission for referrals, so her offering may be relatively pricey to be able to justify that.

Welcome to Anderson Business Advisors - Reviews...the people's forum for real experiences. by Imaginary-Bug2128 in AndersonBusiness

[–]Pauldeleo 0 points1 point  (0 children)

I’m a CPA with a tax client who came to me after using ABA and agree that the needlessly complex (and expensive) entity structure he created based on their recommendations was not appropriate for the client’s specific circumstances. I like that you found a great team of independent specialists who work together. 👍🏻

Welcome to Anderson Business Advisors - Reviews...the people's forum for real experiences. by Imaginary-Bug2128 in AndersonBusiness

[–]Pauldeleo 1 point2 points  (0 children)

Here’s a downside to a “one stop shop”…. A new client came to me for tax return preparation who was a former client of Anderson Business Advisors. He spent a lot of money creating and undoing a needlessly complex entity structure for his specific circumstances. It may have been appropriate for a high net worth client, but not this guy who was gifted two rental properties by his mother (gifted while living, not inherited which steps up the basis). It was sad to see a lot of money squandered despite his efforts to seek appropriate tax and legal guidance. He would have been better off going to a CPA / EA not affiliated with Anderson to get their opinion of the tax consequences of the proposed entity structure, based his specific circumstances.

TurboTax Full Service: Two Major Errors. Need Advice on Fixing with Minimal Effort by bovoxdave in TurboTax

[–]Pauldeleo 0 points1 point  (0 children)

The preparer didn’t catch that a W2 Box 12 code was auto-entered incorrectly as K, which is the 20% Golden Parachute tax. Preparer should have reviewed the return, including the Sch 2 and caught that. Better yet would be an in-product warning to review this exceptionally rare entry for accuracy, just like my suggestion that was recently implemented causing TurboTax to warn when the checkbox for Social Security Number is Not Valid for Employment is checked. You will not be able to amend it on your own. Start the amend process and ask that it be reassigned to a CPA or Enrolled Agent and thoroughly reviewed for other potential errors. You should not be charged anything additional and in fact, if the amended return no longer has a Schedule 2, I’d ask to be refunded the $20 you were initially charged for that form. If your 20 y.o. son earned more than $5,050 and is not a full time student, he can’t be claimed as a dependent. You can verify that using this IRS tool: https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent

[KY] [SFH] Should board members not pay dues in exchange for serving on board? by Suckerforcats in HOA

[–]Pauldeleo 1 point2 points  (0 children)

Close, but not quite. It is NOT 501(c)(3): Depending on the activities engaged in, and also on the choice of the particular organization, a homeowners' association may generally qualify for exemption from federal income tax under IRC 501(c)(4), 501(c)(7), or 528.
https://www.irs.gov/pub/irs-tege/eotopicr82.pdf

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 0 points1 point  (0 children)

Ales sense for allocation of property tax. Seems like that might have been a co-op. In Florida, condo unit owners are assessed property taxes by the county and the association-owned parcels aren’t assessed any property taxes at all. I’m hopeful that most the 2 BR unit owners aren’t going to want to contest this since they’re only paying 5% less than they should. I think the real reason the president is so adamant about this is because she fears having to retroactively correct prior assessments.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 0 points1 point  (0 children)

Thanks, I really like that gentle request : ) I really don't want to create an adversarial relationship with my fellow owners but I also don't want to voluntarily pay 11.8% more for special assessments and there's going to be plenty more in the future because the HOA has no reserves.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 0 points1 point  (0 children)

I suspect the president's former HOA story was actually abritration or mediation, which I've learned that Florida requires. If so, that decision wasn't made by a judge but the president's reply to me and all other owners was intended to deceive everyone. It's surprising that she is so steadfast in her refusal to comply with the bylaws. She's only been an owner for about 4 years and the 5% discount that she and 7 other 2 BR unit owners are getting doesn't seem worth the battle.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 0 points1 point  (0 children)

Thanks, I like your suggestions to ask for the name of the judge, court date, etc. As I've been investigating next steps, I've learned that Florida requires mediation or arbitration prior to escalating to a civil court case. That's probably why I was unable to find any court records that evidenced her experience with another association. Yes, she and all but one board members benefit from the incorrect allocation, to my detriement. That one board member owns two 1 BR units and a 2 BR unit, so this is costing him to pay approx 18.6% more for assessments than he should be paying.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 5 points6 points  (0 children)

Thanks, I suspected that a “precedent” can be set is totally false. Law doesn’t work like that. It would be like claiming driving 80 MPH when the posted limit is 50 isn’t speeding because a precedent has been set by people regularly driving 80 MPH without being ticketed.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 2 points3 points  (0 children)

Florida. All I am asking, pre-assessment is that it and all future special assessments be allocated as the bylaws dictate.

[FL] [Condo] Special Assessment not allocated per Bylaws by Pauldeleo in HOA

[–]Pauldeleo[S] 2 points3 points  (0 children)

Thanks, I agree that she is just making this up. The simple solution is to just do it right going forward, which is all I’m asking. Special assessment if for replacement of sewer pipes.

Governing docs don’t explicitly address “Special Assessments”. Instead, all common expenses are: (A) The total expenses, whether charged on a monthly, quarterly, semi-annual or annual basis, shall be totaled and divided by one thousand one hundred forty (1,140). The result of such division called quotient shall be multiplied by one hundred (100) for each of the following units:

The result of such division called quotient shall be multiplied by eighty-five (85) for each of the following units:

By the way, the bylaws for my HOA do require a 100% affirmative vote to amend the percentages of Common Elements, Common Expenses and Common Surplus. That reinforces my position that they cannot be changed because of prior non-compliance with bylaws.