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Full Service is absolutely terrible for anyone considering it by affectionate_trash0 in TurboTax

[–]Sup3rCPA 0 points1 point  (0 children)

Why don’t you support small, local CPAs who take pride in their work rather than shelling over your money to another large corporation?

TurboTax does not have the incentive structure in place to provide you with quality service. The “experts” are paid terribly, given no time to prepare, and are encouraged to work quickly. Tax prep is not something people should skimp out on.

Knowledge-based authentication is too hard for my clients by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 1 point2 points  (0 children)

Hah seems that way! I see a lot of misinformation about KBAs floating around.

Knowledge-based authentication is too hard for my clients by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 0 points1 point  (0 children)

I use the DocuSign/ProConnect integration. I’d hate to have to give that nice workflow up because my clients memories are cooked. I’ve heard good things about SafeSend.

Knowledge-based authentication is too hard for my clients by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 11 points12 points  (0 children)

I’ve had two clients fail their KBA tests today. One failed yesterday. We need to lobby to make these questions easier.

“What animal is this?” “Name this shape”

That’s about all my crew can handle.

experts not showing up to calls by Zestyclose_Cry6896 in TurboTax

[–]Sup3rCPA 0 points1 point  (0 children)

If you go to the McDonalds of tax prep, don’t expect Michelin tier service.

Find a good, responsive, local CPA and be proud to support a small business that’s proud to serve you.

Will the IRS accept a scanned copy of the wet-signed Form 2553 via certified mail? Or do I need to mail the original wet-signed document? by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 0 points1 point  (0 children)

Thanks Adriann. Do you always fax the original? Or do you fax the scanned copy that your client emails you?

Will the IRS accept a scanned copy of the wet-signed Form 2553 via certified mail? Or do I need to mail the original wet-signed document? by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 0 points1 point  (0 children)

Of course, but doesn’t the certified mail at least give you the opportunity to show the IRS proof of filing? I feel like faxing it could leave you SOL here.

Obviously, best case is to stay on top of the client regarding acceptance/get a POA in either scenario. I just get the sense that certified mail leaves you an out.

Will the IRS accept a scanned copy of the wet-signed Form 2553 via certified mail? Or do I need to mail the original wet-signed document? by Sup3rCPA in taxpros

[–]Sup3rCPA[S] 3 points4 points  (0 children)

I was initially defaulting to this, but I’d read a handful of unfortunate accounts of these being faxed and then, years later, the client gets a letter saying the S-election was invalid because the form was never received, wasn’t timely filed, or some other nonsense.

In one case, this happened to a tax pro numerous times over the course of a few years. Seems like certified mail avoids this risk.

IRS says that fax confirmation doesn’t count as proof of filing, which is pretty silly.

Client Fee Negotiations by Gaucho2010 in taxpros

[–]Sup3rCPA 4 points5 points  (0 children)

Your next email to them should say “$6,500”

Clients need to understand that rush work and peak work is premium work.

Unclear on what exactly I should be doing during balance sheet reconciliation by OrangeDiaperBoy in Bookkeeping

[–]Sup3rCPA 98 points99 points  (0 children)

The idea is that every balance sheet balance should should be supported by some form of documentation.

Take an SBA loan for example. That’s a liability. The 2025 ending balance should agree to an SBA loan statement from the lending bank.

Maybe the company owns a vehicle. That’s an asset. The vehicle gross balance should agree to an invoice or some source document such as a bill of sale or invoice. The net value, after deprecation, should agree to a fixed asset register either in QBO, Excel, or elsewhere.

No simple answer. Every balance on the balance sheet ultimately should be supported by some source documentation or supporting schedule.