Accountant Megathread - At Least We're Not Actuaries

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Accountant Megathread - At Least We're Not Actuaries

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Mandalay: Mar 16, 2007; WoW Forums Refugee

Hellblazer187 posted:

Anyone wanna talk about accounting exit strategies? I'm thinking teaching English in China sounds nice, or possibly a life of crime.

I�m hiring a bookkeeper or accounting assistant for our small business. Hours are good but pay sucks.

# ¿ Mar 15, 2019 18:30

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# ¿ May 15, 2024 08:56

Mandalay: Mar 16, 2007; WoW Forums Refugee

Test of Excel as a Foreign Language

# ¿ Apr 21, 2019 04:25

Mandalay: Mar 16, 2007; WoW Forums Refugee

How are you getting the PPP intralinks password for BofA apps?

# ¿ Apr 9, 2020 10:04

Mandalay: Mar 16, 2007; WoW Forums Refugee

The Bird posted:

Hey Goons. Just a general accounting question.

Is it legal to report business liabilities (like payroll tax) as losses on your personal P&L?
I mean, I think I know the answer, that it is the definition of tax fraud and I vaguely remember my accountant joking about it years ago as being really stupid, but am I wrong?

I know that this isn't an "Ask an Accountant" thread, but don't want to make a post for such a small question.

If you�re an employer these deductions go on your business return.

# ¿ Sep 29, 2020 21:12

Mandalay: Mar 16, 2007; WoW Forums Refugee

Still sounds better than marketing.

# ¿ Nov 24, 2020 19:00

Mandalay: Mar 16, 2007; WoW Forums Refugee

I gave my accountant employee (I run a small business) a raise from $30/hr to a salary of $80k, but I told her that I'd need her to increase her hours from 35/wk to 40/wk. They started just over half a year ago. They accepted as long as they get to work from home on Fridays. I think everyone is happy?

They told me that they want an accounting clerk/assistant next year to help out, and I told them that I'm open to it, as well as hiring an external firm to help with bank recs and reporting on a monthly basis.

I'm so happy that I don't do our daily accounting anymore. I almost wish I didn't know accounting because I would have pawned this off to a dedicated employee or outsourced it way earlier.

# ¿ Dec 29, 2022 02:23

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# ¿ May 15, 2024 08:56

Mandalay: Mar 16, 2007; WoW Forums Refugee

Zarin posted:

Yeah, he has a CPA he's going to be sending this all to. Just trying to make sure we have the high-level statements correct in preparation for that.

I had thought that COGS was called out separately from other expenses on the tax return but now that I'm looking at the screenshot I took of the example used it doesn't appear to be . . . although I only grabbed Part II and not Part III. And also the example was for a Sole Prop and the guy I'm doing stuff for is an S-Corp so I don't know how different it is. I was told "it's mostly the same" but technically so is a banana and a T-Rex.

Yeah, if it doesn't matter for tax time then that's a Future Me problem as I dig in to start setting up reporting and doing deeper analysis on what is driving revenue, expenses, which items are ahead or behind on margin, etc.

I took enough accounting to qualify to sit for the CPA exam but ended up running a small business instead. And doing the books along the way. My experience is that nobody really cares as long as you get these things vaguely correct. I�m in the process of handing off my bookkeeping to a CPA firm and the level of rigor applied to categorization is�.not that high. At least for things like cleaning supplies.

# ¿ Feb 21, 2023 08:34

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Accountant Megathread - At Least We're Not Actuaries

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