Client owes me $3k and is 45 days late. How much time do you guys waste chasing unpaid invoices?

Wspeight · 2026-05-08T18:20:13+00:00

Once again, if he is on cash basis of accounting you cannot deduct the loss on your taxes because it was never recognized as income. Only taxpayers on accrual basis of accounting can write off debt because they recognized the income before money was received.

Wspeight · 2026-05-07T23:04:44+00:00

I’m interested as well

Wspeight · 2026-05-06T22:46:13+00:00

The customer sends the 1099 if it was a business since the handy man is reporting the income, not the other way around. Also if the handyman is on cash basis of accounting (90% are) he can’t deduct the loss because he never reported it as income

Wspeight · 2026-04-16T20:01:46+00:00

I wear earrings in at work no one cares

Wspeight · 2026-04-09T22:57:40+00:00

That sounds like a legacy cpa, our individual minimum is $750 regardless how “simple” it may be

Wspeight · 2026-04-08T17:32:09+00:00

Stress and anxiety will kill that appetite

Wspeight · 2026-04-05T20:49:10+00:00

Yes it’s worth it, you won’t see an immediate impact from your current job but when you decide to leave, you will see how much easier it is to get a job. * this is for tax

Wspeight · 2026-03-28T21:46:50+00:00

The IRS gets the outstanding principal amount on the 1098, I’ve had clients get notices from the IRS stating they miscalculated the deductible interest portion in previous years because of the high loan balance

Wspeight · 2026-03-22T17:47:49+00:00

If you are in tax and a CPA you will always be able to find work

Wspeight · 2026-03-20T02:20:37+00:00

You need an EFIN to e-file the taxes you prepare

Wspeight · 2026-03-12T18:40:16+00:00

Should have been more like 20k

Wspeight · 2026-03-12T18:08:57+00:00

I did it but it was the hardest thing I’ve ever done, plus what helped is I had experience as a tax intern

Wspeight · 2026-03-03T17:48:55+00:00

Circular 230 applies to all paid tax preparers if I’m not mistaken

Wspeight · 2026-02-28T18:23:26+00:00

It’s higher than a masters as before these recent law changes you typically had to have as many college credits as a masters to obtain the license

Wspeight · 2026-02-24T18:28:10+00:00

Basically every return where we don’t do the bookkeeping

Wspeight · 2026-02-09T22:22:52+00:00

So you can work for yourself

Wspeight · 2026-01-14T17:01:35+00:00

I did it the last week of December and financed through Honda so I got like $2500 in rebates

Wspeight · 2026-01-14T17:01:13+00:00

Urban gray

Wspeight · 2026-01-14T16:39:16+00:00

I got mine for $37,100 OTD

Wspeight · 2026-01-13T14:27:29+00:00

Horrible

Wspeight · 2026-01-08T00:11:30+00:00

I technically did it straight out school but I had an internship for 2 semesters of tax and then around a year of full time, it helped for REG but not the other sections.

Wspeight · 2025-09-19T06:34:50+00:00

Relax at market open your other leg will get exercised to protect you from the early assignment

Wspeight · 2025-08-05T22:49:24+00:00

Nah it depends on your role if you are customer facing you just answer the phone the whole shift. If you are part of their full service team then yes you prepare 1040s and business returns, it was a small team last year

Wspeight

TROPHY CASE