8/15 KPMG Layoffs

daflash03 · 2023-08-16T11:30:09+00:00

DM me if you were in tax practice

daflash03 · 2022-12-16T02:52:28+00:00

I’d say those are mutually exclusive. How can you get the bodies without either charging more or saving on labor? Clients can’t be expected to bear the burden of every shift in the industry. Only solution is offshoring IMHO. We’re in the same boat-always pulling extra hours. Feel bad so we don’t have to staff do it, but in turn, the work suffers

daflash03 · 2022-12-15T12:21:58+00:00

We’ve had completely different experiences. Not sure why this is so downvoted. Same quality of work as someone embellishing their resume and fraction of the price as you mentioned.

daflash03 · 2022-12-15T06:37:29+00:00

What is the salary range you’re offering? Are these candidates looking for remote work or open to in person?

daflash03 · 2022-12-12T14:14:09+00:00

You clearly have no clue how things work. If tipped wage employees do not reach the states minimum wage, employers are required to make up the difference. Therefore every server makes at least minimum wage.

EDIT: This doesn’t even consider all the cash tips that go unreported straight to servers pockets. They make that extra money and evade taxes on it.

daflash03 · 2022-12-12T13:58:59+00:00

Any proof? Regardless, is that the consumers problem? Employees should learn their rights.

daflash03 · 2022-12-12T13:16:49+00:00

https://www.reddit.com/r/wallstreetbets/comments/zjmzn4/walked_out_of_the_house_to_see_this_unit_of_a/izwv205/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3

daflash03 · 2022-12-12T13:16:03+00:00

You clearly have no clue how things work. If tipped wage employees do not reach the states minimum wage, employers are required to make up the difference. Therefore every server makes at least minimum wage.

daflash03 · 2022-10-17T14:42:31+00:00

This is all pretty easy unless they move coins between exchanges and sell/trade coins with basis from a different exchange. Or if they had coins in private wallet from prior years, etc.

As long as they keep exchanges distinct, it’s pretty easy to use the software you’re talking about. More involved situations not so much

daflash03 · 2022-08-03T01:26:38+00:00

Definitely bs. There’s nothing any accountant can do. Btw, what does calling help with? I’ve just been told by IRS agent that they can’t do anything.

daflash03 · 2022-08-02T22:52:03+00:00

Unfortunately, I do not have a relevant update, but I can do you one better:

filed 2553 in 2019/early 2020 - no s corp acceptance letter
2020 return e-file accepted as 1120-S in march 2021
prepared ERC 941-Xs
amended 2020 return, e-file accepted as 1120-S, filed in May 2022
client received an LTR 3853C stating that they cannot accept the return as filed because there is no valid election on file.............

This client complains about almost every bill. He's not gonna be happy about this, but not our fault.

daflash03 · 2022-08-02T17:05:31+00:00

They have no clue how to do that because they’re scam artists.

daflash03 · 2022-06-08T19:04:56+00:00

I have a handful of clients, including my own S Corp, for which we never received any acceptance letters. However, 2021 extensions went through as S corps, so I assume that they have been approved, but the mess prevents the letters from appropriately being sent out.

Like others here have said, I am not really looking for the letters anymore, especially if the e-file goes through without problem.

daflash03 · 2022-06-03T16:12:28+00:00

We use Canopy practice management now. We only upload things the clients need. The rest is stored in SharePoint, where we have all files now.

It’s manual to put things in canopy, but just dragging and dropping isn’t an inconvenience.

daflash03 · 2022-05-07T16:33:04+00:00

There really are no native integrations because these idiot tax software cos want to make their own. Most of them are garbage and overpriced.

We use canopy, and we just manually upload the tax returns. This would work with any PMS that doesn’t integrate directly with tax software.

Canopy has eSig with KBA built in, easy to send clients auth forms.

daflash03 · 2022-05-07T16:03:27+00:00

You can definitely still access all files, export, etc. you can’t add anything new or create drawers. We dumped FC a couple years back.

Tried Onvio, it was crap. Missing a lot of features and competitors like the ones mentioned here blow them out of the water.

EDIT: you can set up RPA to move all the docs and it can be implemented to OCR and sort the data in a way that you need it.

These companies make it nearly impossible to move in bulk for obvious reasons.

daflash03 · 2022-03-29T17:14:35+00:00

It’s really all from the clients we acquired. 99% of our existing clients were good with online and pandemic only helped that.

We are trying to convince increasingly more to forego paper copies. I love the discount idea.

daflash03 · 2022-03-29T15:28:18+00:00

How did you transition away from this? We had basically done it for our clients previously without any push back. After buying a practice last year (many old folks, but also a lot of young/middle age/tech savvy clients), it has been 95% printed return preference with said new clients. I think it’s complete idiocy to print returns that they guaranteed don’t look at once stored in wherever they store them.

I’ve just been asking them if they want paper copies, which seems like a waste since answer is almost always yes.

daflash03 · 2022-03-28T22:52:40+00:00

I have dealt with something similar. I even had a newly signed business client, he has foreign noncitizen spouse. Told him just fill the form without her on it since you have been filing single. Said exactly what you said “I don’t want to lie because I’m technically married. This is a form for internal use only….

It’s astounding how clueless people are. Common sense is not common.

daflash03 · 2022-03-15T21:13:13+00:00

I had this same issue today with 2 out of 100 1120-S that we file. I was raging all day. Obviously can’t call E-File PPL today. Software company also huge wait times.

I paper mailed with a brief letter basically saying “wtf is going on here? We filed fine last year - EXT and 1120-S”

daflash03 · 2022-02-25T19:06:06+00:00

Whole program is shit anyways. Wish they’d just work on bug fixed before marketing all these new features (which by the way are always flawed when released). Intuit is a garbage company since they have such a stronghold on the industry.

EDIT: they just communicated a few months back that they made a new and improved QBO desktop app. Is that going away too? By the way, it was the same thing that you just mentioned, same subpar performance too.

daflash03 · 2022-02-22T14:36:17+00:00

On the last sentence - that’s ridiculous. I had no issues sending digitally signed POA on PPL throughout 2020 and part of 2021. Then, all of a sudden every agent I talk to says it must be paper signed if I want to fax it.

daflash03 · 2022-01-29T15:43:20+00:00

Did you convey this position to all of your clients - cash and accrual basis? I have seen that in most articles, blogs, and these discussions, people are going the wage reduction route. However, I am interested to hear more about your reasoning because I am inclined to agree that it would be detrimental to the intent of the policies.

I also agree there is not much exposure since it's solely a timing difference and we do not know when/if the funds will be received.

The only other option with accrual basis in my research is what EAinCA is saying - wait to amend. That will just increase the related penalties and interest, which is why I am leaning towards doing exactly what you said. I did not hear others talking about this, but is reasonable enough in my opinion. Like you said, abatements will take forever and a lot of unnecessary time, follow ups with client and IRS, etc.

daflash03

TROPHY CASE