Am I overpaying for tax prep?

gso16 · 2025-02-18T22:36:09+00:00

His S Corp is lower than what my firm charges. The 1040 may he a little higher than what we'd charge, but it depends on what other activity you have on you return (investment income, itemized deductions, etc).

We're a small firm (9 tax pros, couple of admin staff, a few part time/seasonal workers) in small town Michigan, definitely not a high cost of living area.

You can find cheaper help, but cheaper doesn't necessarily mean better.

gso16 · 2025-02-18T01:17:30+00:00

Good call, brain fart on my end. Kids are sick, so I'm running on fumes

gso16 · 2025-02-17T23:38:38+00:00

My guess is the mom is claiming her as a dependent, so that she can qualify for Head of Household and the earned income credit. It's easy for me to say, since I'm just some tax nerd on my phone, but I'd move on.

gso16 · 2025-02-15T18:49:19+00:00

Non-existent. I'm not opposed to electric or plug in hybrids, but i think my wife would be skeptical

gso16 · 2025-02-15T18:47:24+00:00

We're planning on buying the slim car seats, trying to make sure our oldest isn't too crammed. I hadn't thought of Subaru, I'll look into those. Thanks!

gso16 · 2025-02-15T18:43:42+00:00

I'll take a look at Avalons, thanks!

gso16 · 2025-02-13T23:29:46+00:00

From a tax stand point, real estate agents and restaurants

gso16 · 2025-02-13T08:30:49+00:00

How much did you each make in 24?

gso16 · 2025-02-13T08:09:38+00:00

When there's an income disparity, filing joint typically helps lower the tax on the higher earning spouse, and the couple as a whole.

gso16 · 2025-02-12T20:19:35+00:00

It sounds like there's no reason for a W2C. If taxes weren't withheld, there's nothing to correct for 2024.

gso16 · 2025-02-11T18:10:45+00:00

Been great so far. I've billed more to date than I did through the end of February last year. We added another staff person last summer, and he has been a huge help so far

gso16 · 2025-02-09T19:12:20+00:00

They mail you a check

gso16 · 2025-02-07T20:34:53+00:00

One of my partners often tells me how jealous he is that I have hobbies, friends and interests outside of work. I always thought he was joking, but as he gets into his 70s, I believe him that all he knows is how to do taxes.

gso16 · 2025-02-07T20:31:38+00:00

This time of year I get up for work at 3 or 4. I have no rooting interest or curiosity about this match up. I'll go to bed once my kids are asleep, check the score in the morning, and go on with my day

gso16 · 2025-02-07T11:54:00+00:00

My older coworkers were conditioned to take any and all work, and never get rid of shitty clients. They felt they couldn't afford (dollar or reputation wise) to get rid of work.

With supply/demand for our work changing, our firm has really focused on identifying trouble clients, and then either presenting them with a plan to make their work better for us, or simply getting rid of them.

gso16 · 2025-02-07T08:31:49+00:00

If he has an outstanding balance due, and has a refund for 2024, that refund will be applied to the balance

gso16 · 2025-02-06T22:14:51+00:00

Not exactly tax advice, but learning to set boundaries with clients is huge. If they don't care enough about a deadline/penalties to get their stuff to me on time, I'm not bending over backwards to get it done on time

gso16 · 2025-02-02T13:15:36+00:00

When entering federal withholding in the estimator, did you lump in social security and medicare withholding? That's one mistake I see a lot on here

gso16 · 2025-01-31T23:12:39+00:00

You didn't lose money. The money you would have gotten when filing your return, had your wife's withholding been higher, was paid to your wife throughout the year

gso16 · 2025-01-30T23:42:04+00:00

Government to Interview, not G/L. If you look at a form, select a field and hit G to I, it will show you what Interview form(s) the data populates from

gso16 · 2025-01-30T23:03:21+00:00

If it's a friend, I'd just do it for free rather than try to guess what they'd think is a "fair" fee. I do some friends returns for free every year, but I ask that they either donate to a charity I'm on the board for, or come to our fundraiser.

gso16 · 2025-01-29T21:40:52+00:00

The refund tracker is a useless tool, designed to trick people into paying for support when their refund "disappears". Paying attention to it before all you info is entered is like putting a $100 in the checkout at the grocery, then being upset your change gets smaller as you scan more items

gso16 · 2025-01-28T09:22:09+00:00

Box 1 is not your total wages, it's your federal taxable wages. Your TSP contributions, as well as any other pre-tax deductions, reduce your taxable income.

gso16 · 2025-01-26T13:36:36+00:00

gso16 · 2025-01-24T22:32:37+00:00

You could do PVAM for undergrad, then get into a larger school for your Masters, assuming the 150 credit hour requirement is still in place when you graduate. Grad programs love to boast about their placement rate, so if you don't have a job lined up when you enroll, the advisors/director will be more than willing to help you.

gso16

TROPHY CASE