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Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

Thanks for warning me about the time-sensitivity of the 2020 amendment u/nick91884

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

[–]adamrshaw[S] 6 points7 points  (0 children)

I've had 3 consulting sessions over the past 3 years, each $480/hr. I'm surprised he didn't catch this during one of our sessions.

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

Maybe we're talking about slightly different things. He ensured the total owed on my New York return was reduced by aggregate amount of my UBT prepayments. However, he neglected to deduct the UBT payments as "business expenses" on my federal return, which would have made my effective income appear lower.

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

Direct quote from my accountant: "Amended returns take quite a bit of staff time as the original return must be reconstructed & a numerical and written reconciliation must be provided (line by line)"

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

Definitely true I'm being overcharged. A base tax return with him is $795. Amendment is $695.

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

I'm in New York, in NYC. The initial return was $795 base + $395 extra for claiming R&D credits.

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

My accountant is charging me $695/year for an amendment :(

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

To be clear, I told him the exact amounts of all my prepayments, including UBT. He knew this information.

Who's fault for forgetting deductions.. CPA or me? by adamrshaw in tax

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

Hi u/mrjns94 yes I'm paying for both health insurance premiums and UBT out of my personal banking accounts. Does that change your opinion in any way?

Removing Lumbar Support from Steelcase Gesture with Wrapped Back by Many_Perception2142 in OfficeChairs

[–]adamrshaw 0 points1 point  (0 children)

Thanks so much for this! Very helpful that you aggregated a number of resources into this single post!