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Hurt Whitey Maybe posted:Something that occurred to me: how do you quit? I’m resigning today for a new job at another firm, and I guess I just email the partners? https://www.axios.com/matt-gaetz-aide-resign-misconduct-4a145566-a72e-442e-b06f-41752e62b237.html quote:“It's been real," Murphy wrote in an email, obtained by Axios, to Republican legislative directors on Saturday morning, with the subject line: "Well...bye."
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Apr 15, 2021 17:13
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As the title of the corporate thread once said, “I am quitting to pursue my dream of not having to work here”
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Apr 15, 2021 17:17
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I just read a story on CNBC about Jim Cramer paying off his mortgage with crypto gains. I can’t believe he’s in the thread.
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Apr 15, 2021 17:18
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Hurt Whitey Maybe posted:Something that occurred to me: how do you quit? I’m resigning today for a new job at another firm, and I guess I just email the partners? It’s really up to you. Everyone will know soon enough regardless. I think I let the partner that I was working with the most know and then went through HR. I was going to say it’s fun to go around telling people 1:1 just to see their reactions, but it probably wouldn’t feel the same over Zoom. Shame.
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Apr 15, 2021 17:26
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Democratic Pirate posted:As the title of the corporate thread once said, “I am quitting to pursue my dream of not having to work here” I did once quit a job by telling my boss "Hey, uh, I'm gonna go home now. And then I'm never going to come back." and he said "OK" and I literally ran away.
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Apr 15, 2021 17:40
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Back up your emails, or at least your outlook list. Find a way to contact the coworkers you want to contact again. After you go, it all gets cut off.
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Apr 15, 2021 17:40
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Hellblazer187 posted:Open Microsoft word on your personal (not work) computer. Write everything you want to say to the partners. Then delete it. Then just google "template resignation letter" and send them that instead.  Not sure how it works if you're remote, I've always handed that letter over/broken the news in person (usually first to whichever partner you work for most or heads up your practice group). You giving two weeks notice or bouncing right away? I know it's customary and generally expected that you offer two weeks notice, but if you're leaving for a competing firm don't be surprised if someone from HR gets back to you with "thanks but let's just go ahead and call this your last day"
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Apr 15, 2021 17:41
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Blotto_Otter posted:
I've been remote since 2015, I left my last job via email. I quit on like December 15. I offered to give two weeks but we all agreed there was no point.
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Apr 15, 2021 17:53
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Some good news: I've passed my Core 1 CPA exam. Now it's just Core 2, Audit/assurance, Taxation, Common 1, Common 2, and then the CFE. Oh, and another 25 months of practical experience to be assessed. They don't mark it like a regular exam with a percent grade. They just judge you on two 60-minute cases that assess your competencies. Glad I got competency in Financial Reporting, Finance, and Taxation, but it kind of stings that I got "Not competent" in audit/assurance given that about 26% of the class got "competent with distinction" on that one (the other competencies only have 2.5-9.5% "with distinction). I know it's a bit E/N, but: Hellblazer187 posted:bruh are you me. I did actually get sick in Feb 2020, I assumed it was a weird cold. I just slept for like a month. It's too bad there's not a way to test if I had Covid a year ago. Yeah, I got a test the third time I was in the ER (A month after my first ER visit, April 20th), and they said negative. That was the day I said "gently caress it" and moved back in with my parents. Been on pantoprazole for about 7 months now, but starting to think I may have to up the dose as I feel like I've plateaued with the symptoms. Either way, I still need to keep my tomato, spice, and alcohol intake low (LOL at keeping caffeine intake low, even after the April 30 deadline). Now that I'm living at home it's hard to regulate the food since my mom cooks enough to feed a small army, and cheaply (eg. fatty cuts of meat, lots of potatoes and starches), but I'm trying to lose weight again as is so hopefully this'll help.
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Apr 15, 2021 17:54
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black.lion posted:So client had some unreported income in 2018 that the IRS picked up on, assessed increased tax, yada yada. I wrote a letter asking for abatement of penalties. Client just received CP3219A... talking about tax court. I've never seen this notice (only been doing this a few years) - is my client turbofucked? It appears they have not processed the letter I sent... If there is actually a good case to dispute the proposed adjustment, you can file the tax court petition and pursue an administrative appeal within the IRS, may be a viable option and cheaper than tax court proceedings (technically you could practice in tax court if you pass the test, but in practice mostly a lawyer-job). If we're talking about penalties, first time abatement might be an option, depending on the facts and what the penalty is for. Low-income tax clinics at law schools sometimes take these on as well, but obviously your client would have to meet the eligibility requirements.
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Apr 15, 2021 23:42
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finally a realistic auditing sim https://www.youtube.com/watch?v=jTjbDTiuQro
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Apr 23, 2021 17:17
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We own/operate an LLC and are about to purchase control (I guess you'd say) of a larger one. The owner is giving it up to us because we have been running it for a while with a labor/profit split the owner is no longer interested in. Basically, we helped run her business while she went through a life change, and now they're selling us the whole thing because the life change changed her life. ANYWAY, we feel like combining/structuring these things correctly could use a guiding hand, and I'm not asking the thread outright for advice, but ... who should we be looking at for this kind of thing? Tell me what to google. I feel like "financial advisor" is going to get me people telling me to invest in IRAs and pay my credit cards debt, which isn't the advice we need. But maybe those people do both? We don't know. Thanks! Huxley fucked around with this message at 17:38 on Apr 23, 2021 |
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Apr 23, 2021 17:35
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you should hire a CPA and tell them what you just told us
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Apr 23, 2021 17:51
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It's also worth calling your county bar referral service and asking for a consultation with an attorney that does small business transactional (assuming U.S. and small, acknowledge may not be the case)
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Apr 23, 2021 18:41
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Those are exactly what I needed, thanks!
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Apr 23, 2021 19:16
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Nonexistence posted:It's also worth calling your county bar referral service and asking for a consultation with an attorney that does small business transactional (assuming U.S. and small, acknowledge may not be the case) I'm going to second this. A business lawyer will know a CPA to refer the accounting work out to, so this would be my first call.
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Apr 23, 2021 20:58
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https://twitter.com/KamalaKaraA1/status/1392511541141032961?s=20 https://twitter.com/KamalaKaraA1/status/1392512155832946691?s=20 Covok fucked around with this message at 18:42 on May 12, 2021 |
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May 12, 2021 17:41
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yeah UT being down is loving hilarious right now
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May 12, 2021 18:10
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Wait that dude only has 12 returns to do and he thinks he can't get them done on Thursday?
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May 12, 2021 18:11
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Hellblazer187 posted:Wait that dude only has 12 returns to do and he thinks he can't get them done on Thursday? I can get those 12 returns done. Its the people who keep dropping off that I can't do. I mean, I have done 716 returns this year, according to UT. (And those are just the ones I printed. Some are in my co-workers name when I covered for them. And I had no assistant this year. Did the PPP 2nd round, PPP forgiveness, audits, tax questions, tax planning, incorporated a LLC, and the resturant revitalization fund during tax season. All with no assitants). I am just a tad exhausted and done with things. Also, 1 return is 12 months of bank statements for a dba. Covok fucked around with this message at 19:25 on May 12, 2021 |
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May 12, 2021 18:35
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Oh! That's you! Sorry! And also sorry for saying "dude" I didn't even look at the name. Yes people still dropping off are lol. And double yes anyone who drops of bank statements and is like "here do a year's worth of bookkeeping too!" earns my ire. Triple yes at being exhausted and done with things. This season nearly destroyed me. Actually I shouldn't say "nearly" it's very remains to be seen.
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May 12, 2021 21:02
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poo poo, it turns out I missed a client who needed to file a foreign property report by April 30, so the firm has to pay her late filing penalty of $25/day or so. I was asked to triage our remaining clients two weeks ago, and I guess I'll have to cross "attention to detail" off of my resume  .Still have more than a few self-employed people to work on, but here's hoping I can relax with some corporate returns before my next CPA module starts at the end of July. Also, I joined the BFC discord link, but wasn't sure if I need to say who I am in the otherwise-blank authorization channel. Already PMed Moneyball, but I thought I'd ask here anyway since I'm posting it here.
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May 12, 2021 21:16
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Y’all pay penalties for your clients? That’s wild as hell, in Big 4 I’ve never seen that, ultimately all filing responsibility lies with the client.
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May 12, 2021 22:18
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Hurt Whitey Maybe posted:Y’all pay penalties for your clients? That’s wild as hell, in Big 4 I’ve never seen that, ultimately all filing responsibility lies with the client. If it's my fault there's a penalty I'll try to get it abated, maybe credit them the interest. If I can't get it abated and I feel bad I'll offer to cover the penalty or credit them or whatever. Or if they bitch and moan enough I'll cover the penalty. If it's not my fault, tough poo poo pal I'll write a letter but good luck to you.
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May 12, 2021 23:19
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These clients got their returns to us on time and we said "about two weeks", and prioritize anyone who owes but isn't self-employed. If they come in a week before, then yeah, tough poo poo, but if we already said, "We'll take care of it," then we take care of it. Then again, we're also a small firm with only 2-3 CPA's and maybe that many non-CPA employees (myself included), so that kind personal touch is part of the business. Especially with something as simple as filing a Foreign Income Verification Statement. Hell, we've had corporate clients who got audited and our response was, "Well, you said you had receipts to back it up. Now's the time." Main reason we almost always specifically ask for medical and charitable donation slips for personal clients, as CRA has a habit of desk-auditing those.
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May 13, 2021 02:20
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Wonder if this is the right thread to ask this, if not, then I apologize. I bought two shares in an LLC a few years back for $10,000, and my K-1s have been reporting a loss every year since. I've just been tallying them as unrealized "paper" losses, with no impact to my income on my 1040. I held onto the shares, and hadn't bought any more since the initial purchase. However, June of last year, I sold both shares to someone for $3,000. I guess that creates a "realized" loss of $7,000. Can I just slap that transaction on a schedule D, claim it as a loss, and call it done? I'm assuming since we had agreed on the sale price irrespective to what the K-1 losses were, they no longer matter for for taxation purposes. Am I getting this right? azurite fucked around with this message at 04:08 on May 13, 2021 |
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May 13, 2021 03:19
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Hellblazer187 posted:yeah UT being down is loving hilarious right now I do some per diem for a firm that uses UT in Virtual Office and has their practice management in Onvio. Every day so far this week there has been hours of outages in either of the two systems, and of course we need both to be functioning for the workflow. Makes me very happy that UT in my solo practice is on a local install for now. edit: And Onvio makes 4 days in a row of being unusable during normal working hours. Missing Donut fucked around with this message at 16:38 on May 13, 2021 |
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May 13, 2021 15:49
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azurite posted:Wonder if this is the right thread to ask this, if not, then I apologize. I bought two shares in an LLC a few years back for $10,000, and my K-1s have been reporting a loss every year since. I've just been tallying them as unrealized "paper" losses, with no impact to my income on my 1040. I held onto the shares, and hadn't bought any more since the initial purchase. However, June of last year, I sold both shares to someone for $3,000. I guess that creates a "realized" loss of $7,000. Can I just slap that transaction on a schedule D, claim it as a loss, and call it done? I'm assuming since we had agreed on the sale price irrespective to what the K-1 losses were, they no longer matter for for taxation purposes. I don't believe so. Edit: removed explanation with terrible 4 days before deadline math and agree with the below. Pay someone to fix it Ungratek fucked around with this message at 23:37 on May 13, 2021 |
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May 13, 2021 17:50
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You’re wildly wrong with how you treated it. Go hire a CPA and explain what you did.
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May 13, 2021 20:24
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Yikes. Will do. Definitely appreciate the advice.
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May 14, 2021 01:34
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4 days friends im gonna do so little on the 18th
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May 14, 2021 02:33
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update: im over it
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May 16, 2021 16:28
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Sneezis on Reddit posted:Tomorrow is the big day. The Monday to end all Mondays. Are you ready?
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May 17, 2021 13:59
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I know that's satire but it still makes me v angry.
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May 17, 2021 15:04
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I love tax day. I learned years ago the importance of setting client expectations, so my clients have learned that the accounting I will do today is tie up loose ends and otherwise relax. Gonna pick up lunch shortly and open up a beer. Congrats everyone, we did it!
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May 17, 2021 19:03
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hek yes, were shutting down the studio at 4 and going for drinks another on in the books yall!!! everyone do lots of self care tomorrow!!!
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May 17, 2021 20:02
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y'all don't have paralyzing anxiety about possibly forgetting something?
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May 18, 2021 00:05
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oh no I definitely do.
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May 18, 2021 02:15
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Hooray, a missed extension. The FTF/FTP is going to be less than client's invoice so we can just... discount by that much. Someone I manage was supposed to take care of it but I guess I didn't manage closely enough. Whoops! I go back and forth between "I feel incredibly guilty for my part in generating a $175 penalty  " to "I don't care about anything at all including my own life and also money is fiction anyways."
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May 22, 2021 15:22
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stick to the latter imo
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May 27, 2021 17:39
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