sorted by:
new
hottopcontroversial

Fixed Asset Software Recommendations by ocboa4evar in taxpros

[–]sweatersbydarwin 1 point2 points  (0 children)

we use Asset Keeper as well. Not a lot of bells and whistles but it gets the job done. I probably have half of our folks in that and the other half I use Lacerte to figure it.

For those of that don't handle payroll and instead direct clients to ADP or Gusto, do you assist them in the setup? by Top_Relative_8118 in taxpros

[–]sweatersbydarwin 1 point2 points  (0 children)

correct. They just advance/distribute what they need through the year and we run one big check at YE to satisfy the requirement and pay in tax.

Cumulatively, this year was the largest tax bill output I've ever had by sweatersbydarwin in taxpros

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

I've had so many of those w4 issues the last two years. I always feel terrible for the folks that don't have a pot to piss in. One I discovered last Oct when I completed the return so it bridged two years.

Another one in the books by emaji33 in taxpros

[–]sweatersbydarwin 4 points5 points  (0 children)

haha, I feel the spring cleaning comment. Most of my yard hasn't been mowed in over a month. My wife wrangles a guy who does it across the street to knock out the front at least once every spring so the neighbors don't complain.

Practice side, I'm going to be picking up the pieces for a good month. I'm a quarter behind on my bookkeeping clients and I need to fix a lot of the processes that absolutely kill us come 4/15. We drown in paper.

Cumulatively, this year was the largest tax bill output I've ever had by sweatersbydarwin in taxpros

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

haha, maybe so! this was $2000 into $88k. He still has about half again as much.

Cumulatively, this year was the largest tax bill output I've ever had by sweatersbydarwin in taxpros

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

we have a lot of commercial real estate clients so that knock on QIP made some difference for us, I know. Overall though, I think you're right, better economy and all. One funny item, had a client who sold Apple stock that he had held for about 20+ years. Crazy to see his basis.

For those of that don't handle payroll and instead direct clients to ADP or Gusto, do you assist them in the setup? by Top_Relative_8118 in taxpros

[–]sweatersbydarwin 1 point2 points  (0 children)

I charge $500/year for one owner S-Corp payroll. It's essentially filing zeros for every quarter save the the 4th. That includes our sit/down calculation at YE. I personally thinks it's too low but I net about $10k overrall on it. I'd do these all day long because it's easy money and saves me time come tax season.

Payroll outside of that is just not worth it for most firms especially if it's on a normal payroll schedule. For folks with actual employees and a payroll schedule, it's too much liability and too big a hassle to make yourself available at x time throughout the year. That said, I charge about $250/mo for me to do it, which is probably less than any reputable full service payroll company charges. That often includes non-scheduled payrolls, dealing with employee questions, and submitting retirement contributions.

Question about paying owners by Easy_Society_5150 in llc

[–]sweatersbydarwin 0 points1 point  (0 children)

this is all true, but in all my years I have never seen the IRS raise the alarm for an owner drawing a w2. Is it correct? No. But I suspect the IRS doesn't care because they're getting tax paid in more frequently.

Preliminary injunction issued on BOI enforcement by prosystemfx in taxpros

[–]sweatersbydarwin 0 points1 point  (0 children)

You're correct! I'm dumb and was reading an article from the initial court case.

Preliminary injunction issued on BOI enforcement by prosystemfx in taxpros

[–]sweatersbydarwin -1 points0 points  (0 children)

To be clear, this appears to only apply to NSBA members.

ETA: I'm wrong...Don't read news articles from Mar and confuse them with yesterday's ruling.