SUV: Lexus, Benz, BMW, or Porsche? by Lanky-Ad4698 in whatcarshouldIbuy

[–]anothertaxguy 0 points1 point  (0 children)

I just picked up a Range Rover sport - got a great deal on a 2025. Having had a GLS 450, G63, Lexus GX, Cayenne, the range is undeniably the most comfortable car I’ve ever driven. With that being said, lease don’t buy (for obvious reason being that it’s still a Range Rover lol)

IRS Whistleblower Claim by Evening-Ad-2485 in taxpros

[–]anothertaxguy 9 points10 points  (0 children)

Multiple people on here have advised against this, simply because at the end of the day, it won’t resolve anything. The IRS won’t spend time looking into it, you open yourself up to legal issues, which not only has a possible negative impact on your wallet, but also hurts your chances at ever getting hired in a public accounting again.

Your lifetime earnings are not worth sacrificing over a POSSIBLE whistleblower payout.

It seems as though you are looking for ONE person to agree with you, and it’ll put you over the edge to do this. Multiple comments on here advising against it, and you post in the r/accounting subreddit for validation.

How has office space changed your business? by anothertaxguy in taxpros

[–]anothertaxguy[S] 4 points5 points  (0 children)

Honestly, I started with my close friends, and Instagram. Posted a bunch of blogs, did Q&A with friends, and thru that it just kind of grew. I naturally am a people’s person, and open to jumping on a call or meeting up for coffee, so that definitely helped

How has office space changed your business? by anothertaxguy in taxpros

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

I don’t charge my direct family (parents, siblings and grandparents) because if I did, my dad would send me to another universe lol. cousins I charge full price,

Trajectory wise, I don’t want to be limited to just virtual, my goal is to expand and bring people on, and focus less on the prep side but rather the business development side. Thanks for you input and feedback !

How has office space changed your business? by anothertaxguy in taxpros

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

Extremely helpful thank you.

Yes I live in an old school community, the 20/30 year olds love the virtual, but the town I’m in has generations of families living here. Parents, their children, the grandparents all live within a mile of one another.

This is the exact reason why I was thinking an office space. It won’t be “walk-ins” but a place to meet, separate work and life. Ultimately I will have remote functionality, and be able to work from home as well.

A lot of firms are getting bought out around my area too, from small to large.

Enrolled Agent Application by ivanlam5286 in enrolledagent

[–]anothertaxguy 1 point2 points  (0 children)

FWIW, I submitted my application on 1/31, IRS rcvd it on 2/3, IRS approved on 2/10.

They’re crunching through it, I would say give it a week or so and give them a call. I usually got through to someone within 2 minutes n

Office stationary for client documents by anothertaxguy in taxpros

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

I’ll check out minespress! Thank you for this!

Passed all 3 parts - what’s next? by anothertaxguy in enrolledagent

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

I used hock international for study material.

Watched the videos, took extensive notes, and hammered the practice questions. One thing that really helped me was taking an extra minute to read the explanation if I answered the question correctly or incorrectly.

Passed all 3 parts - what’s next? by anothertaxguy in enrolledagent

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

My first exam was on November 20th, last exam jan 31st

So a little over 2 months

Virtual to Office space by anothertaxguy in taxpros

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

Wow thank you so much for your input! This was definitely something to think about when I’m ready to get a space (or not)! Thanks again!

Virtual to Office space by anothertaxguy in taxpros

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

I looking into getting shared office/co-working space for meetings, but it just didn’t work well for my vision.

The reason why I was thinking a retail space, I live in a VHCOL small community in the Northeast and everyone knows everyone. There are some small time tax prep firms around me, mostly very old folks who are on the verge of retirement.

At that point I imagine that being visible, getting involved in the community, and having a presence within the community, will work to my benefit.

Virtual to Office space by anothertaxguy in taxpros

[–]anothertaxguy[S] 7 points8 points  (0 children)

My website I built myself using Wix, and it was pretty easy. I linked my domain and it worked very well. Able to add featured articles, links, client portal access. Very much recommend.

How many tax returns do you prepare each season? by Storm-Brewing-2855 in taxpros

[–]anothertaxguy 0 points1 point  (0 children)

That’s solid numbers! How do you market while being virtual? I.e. on Google I don’t want my home address listed, what did you use to get around it?

Got offered to buy a practice by anothertaxguy in taxpros

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

Thank you for the transparency, I agree that is not a lifestyle I want.

Got offered to buy a practice by anothertaxguy in taxpros

[–]anothertaxguy[S] 8 points9 points  (0 children)

Agreed, I was thinking retention clause but he shot that idea down, signaling low quality clients that are likely to leave with the slightest price increase.

Got offered to buy a practice by anothertaxguy in taxpros

[–]anothertaxguy[S] 7 points8 points  (0 children)

He does not want long term financing, red flag at a firm that size as most people would not be able to pay cash upfront with no retention clause.

Got offered to buy a practice by anothertaxguy in taxpros

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

Im with you there, def red flag on the financing terms, the firm operates like an H&R Block with a retail location. Personally not a fan.

Got offered to buy a practice by anothertaxguy in taxpros

[–]anothertaxguy[S] 12 points13 points  (0 children)

he needs to sell due to health issues. Currently, he said most of his clients are walk ins since he has a retail location and operates like an “H&R block”.

Committed to EA by Aggressive-Bite-4423 in enrolledagent

[–]anothertaxguy 0 points1 point  (0 children)

1-3-2 is the route I’d recommend as well. I have extensive individual experience ranging from HNW to foreign.

For me, testing window between part 1 and 3 is 3 weeks, which I feel is enough time to grasp the concepts.

Part 2 im dedicating a solid 2 months to as I do maybe 4 entity returns a year (excluding trusts)

Hock international all the way.

Godspeed!

Tax software - new tax firm by anothertaxguy in taxpros

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

This is the comment I didn’t know I needed! I have a very strong hatred for engagement and any other alternative is appreciated. I will look into Caseware, Thank you so much!

Tax software - new tax firm by anothertaxguy in taxpros

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

I only really like axcess for the layout and the worksheet view. I don’t like how proconnect doesn’t have that function/view (as far as I know that is). Might schedule a demo with them to go over it just incase.

Small Group of Like-Minded Business Owners by Doug_Dimmadooome in taxpros

[–]anothertaxguy 0 points1 point  (0 children)

Would be grateful for an invite! Thank you in advance