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8 points · 3 hours ago

I'm in industry dealing with client statements. You have no idea how badly these clients want to see a $0.00 in difference from month to month. We will spend 10+ hours attempting to find $122.75 on an account worth $100 mill.

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8 points · 1 hour ago

I'm in industry dealing with client statements. You have no idea how badly these clients want to see a $0.00 in difference from month to month. We will spend 10+ hours attempting to find $122.75 on an account worth $100 mill.

Once I pointed out to my clients that I have no problem looking for a small insignificant variance, but they're going to be paying me to look for it at $250/hr, most of them no longer care about them for insignificant values. One guy wanted everything matched to the penny so he pays more, whatever.

4 points · 1 hour ago

I like you. I wish I had the ability to charge clients such a fee, but I am only an Analyst that is paid salary.

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I like you. I wish I had the ability to charge clients such a fee, but I am only an Analyst that is paid salary.

Small accounting firm! We're mostly focused on tax compliance and most of our clients only do their books because they want tax returns correct; but we've got a couple of big accounts (Few hundred million in sales/year) and they want every little thing tracked and are willing to pay us for it. Ok.

Moderator of r/television, speaking officially1 point · 15 hours ago

Thank you for your submission! Unfortunately, your submission has been removed for the following reason(s):

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Original Poster2 points · 1 day ago

Oh yeah, I’m definitely super anxious that I’ll do it wrong. I have zero experience and the whole thing is confusing to me. Thanks for the suggestion!

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Oh yeah, I’m definitely super anxious that I’ll do it wrong. I have zero experience and the whole thing is confusing to me. Thanks for the suggestion!

Avoid H&R BLock, Liberty Tax, etc. Most of them aren't going to do it correctly and will charge as much or more as true professionals. I'd say a CPA is also overkill here - a CPA can charge much more and, in my region, doesn't offer as much services for their individuals.

You're definitely looking at for an Enrolled Agent whose been in business for longer than 5 years IMO. Either that or a local accounting firm that's been there awhile. I charge $220 here to do a tax return, and would absolutely do this for free for a client, and probably charge ya something to look into this for you. My suggestion is add up all of your income, substract out your standard deduction, and then look up the proposed tax tables for 2018. That would then give you a rough estimate of what you'd owe for TY2018 and then divide by 6 to see what you owe for the year (Since half the year is gone already you'd need to essentially double payments IF you've had it since January.)

That'll get ya a rough estimate, at least enough to start withholding some.

H&R BLock, Liberty Tax, etc. are franchises and as such the quality can vary a lot from store to store. Some offices have actual experts -- EAs, CPAs, and AFSPs -- and some don't. Use The IRS return preparer directory to help find a preparer near you. You want an EA or CPA who understands how unrestricted scholarships and fellowships may or may not be considered income. If they happen to work at H&R Block or Liberty Tax, that should not dissuade you.

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Yes, I worked for many years under EAs and CPAs. I'd still steer clear of them - the fee structure was substantially higher than what you could get elsewhere. For someone looking for professional help on a budget, I don't recommend franchises.

Moderator of r/television, speaking officially-4 points · 21 hours ago

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If you add green chiles to the gravy and fry the potatoes instead this is what I get up on in New Mexico.

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2 points · 1 day ago

my GF cooks this for us regularly enough, it always reminds her of her childhood! She always called it Caldo, and served with either rice or fried taters. We don't add green chiles because her standards for green chiles are much higher than mine, lol.

Original Poster3 points · 3 days ago

From my understanding the trust is in violation (I have updated the original post). I just don't understand how the sibling can pay for their attorney using money that isn't supposed to be used by them.

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2 points · 3 days ago

From my understanding the trust is in violation (I have updated the original post). I just don't understand how the sibling can pay for their attorney using money that isn't supposed to be used by them.

The way the farm and marital trusts I've seen from Iowa specifies that the trust is to pay for the lawyer to defend decisions regarding the trust as it was supposed to be a detterent for family members suing the trust after the deaths of the parents. Hopefully not in this case..

183 points · 5 days ago

By the time you get your equipment back (and yes, it was legally taken provided the search warrant covers it) it'll be obsolete. Think "years." The wheels of justice grind slowly.

You have limited recourse.

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62 points · 5 days ago

Think "years." The wheels of justice grind slowly.

You have limited recourse.

A friend did something dumb in 2005 and had his home raided, electronics taken, etc. He got 'em back last year, after the case was settled in 2007 and his probation ended in 2015. He was happy because he just wanted the photos of his little kids back, the $3500 gaming machine he had just built was just money and he didn't care so much about that.

4 points · 4 days ago

it seems as if you don't wanna mention it, which is fine, but if you don't mind what did he do?

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9 points · 4 days ago

it seems as if you don't wanna mention it, which is fine, but if you don't mind what did he do?

He was a firearms manufacturer, supposedly his partner was creating unmarked, non-serialed fully automatic weapons without his knowledge or consent. His partner had a "mexican drug cartel" interested in purchasing, but it was the ATF. His partner claimed he was in on it (And cut his sentancing from many years to many less years). He spent the majority of his money on defense, and his lawyer recommended he plead guilty as there was a deal on the table that he becomes a felon, can't own weapons anymore, turn in all of his guns, BUT he doesn't go to jail. He agreed and that's where we're at now.

Thanks u/swirlpod today has been challenging even though we knew it was coming. Take care.

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3 points · 5 days ago

Hey, I'm super sorry to hear it. The grief will pass, but you might want to ask your dad's family their favorite stories of him growing up, college aged. That helped me significantly more than I thought it would, as well as seeing a few family albums from my Aunt she made to share.

4 points · 5 days ago · edited 5 days ago

I have a great working relatonship with a number of the local auditors - theres only a handful, my dad used to work at the office and most of them remember me as a kid. One of THOSE peoples kids now works there. He called me up last week asking about the purpose of W-3 form and where are they filed, how soon does the IRS traditionally have them available. Definitely one of the more memorable conversations I've had with an IRS agent before, hands down.

Also had the director of my states DOL call my office, personally, to warn us about a new client we had just taken on. He came to us saying he needed some 0 reports filed as his last accountant wouldn't do and could we please help him? Turns out last accountant dropped him when my states AG subpeoned all of his records in relation for 4 or 5 felonies. Turned out the dude had been in prison for 15-20 years on 75ish kilos of cocaine.

He called us because he used to work with my Aunt, happened to be at the desk of the agent who got our POA when we faxed it in, and decided to call us to warn us, and chitchat about what's going on with my Aunt who had retired a fair bit ago.

Plus, if you do owe the IRS a large sum of money for some reason, they almost always will work with you to make a payment plan. They want the plan to be reasonably able to be paid off in about 3 years but you can suggest the amount of money you want to pay every month and if it works for them, they'll accept it. You can even set it up on line through the IRS website.

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2 points · 6 days ago

They want the plan to be reasonably able to be paid off in about 3 years but you can suggest the amount of money you want to pay every month and if it works for them, they'll accept it. You can even set it up on line through the IRS website.

For the record, they're obligated to accept any minimum payment that'll be paid off in 72 months, or 6 years. So if you owe them $10,000 you can pay them $138.89/month for 7ish years and be just fine, as far as the automated payments are concerned!

It really depends on what kinds of clients aren't paying. I had that issue with a large number of foreign clients - they all grew up in the same town overseas, all immigrated here because 1 person came here, and all came to us because of that 1 client. None of them paid on time - we were usually paid yearly (And billed quarterly).

2 years ago I started a new billing area for us that we now just automatically billy clients on X day a month. If it's returned or otherwise not paid we stop work 7 days after the payment was due. Most of our monthly work is just payroll, book keeping so I needed the owners buy in to help set this up with our bank, but EVERYONE is happy. The clients no longer feel pressure for not writing the check / getting too far behind to pay all at once, and now we just bill them for their tax returns in addition to everything else and I haven't had a single missed payment since. We transitioned to ALL of our clients a year after we began since it was working so well, and we ultimately lost 2 clients as a result of it(They were absolutely insulted that we didn't think we wouldn't get paid for the work we were doing. We usually didn't get paid. I was not upset to lose them professionally, I was sad to see them go personally as we've been handling their families business for 35 years)

When we started this, we also sat down with our lawyer and had engagement letters set up and everyone re-signed them. New paperwork agreements, new time lines. One of the owners here passed away and we've lost ~ 100 clients over 2 years since they're no longer here. Getting paid monthly has saved us from a cash flow perspective.

I had my card skimmed last October

how? did you use an ATM that was not inside of a building with cameras?

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3 points · 7 days ago

I've pulled off skimmers from my small town banks internal ATM before. It was installed during lunch by someone who had their ATM repair company uniform on.

[deleted]
-3 points · 7 days ago

[removed]

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Barring some extreme situation for OP he will pay less in taxes.

In this particular instance you're most likely incorrect. He's losing $7,500 in mileage alone which doesn't include any of his home office which he also lost. One of the bigger people behind are those who were reliant on misc deductions itemizing.

Are you factoring in the lowered income tax rates as well? This is the main driver of a tax liability for an individual.

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2 points · 7 days ago

Are you factoring in the lowered income tax rates as well? This is the main driver of a tax liability for an individual.

Yes, the lowered tax rates will help, but you can also be adding on tens of thousands of taxable income, which then directly correlates to tax due. I've got clients whose taxes will be increasing by 6 digits this year despite the lowered tax rates because they no longer are able to use their unreimbursed employee expenses OR their financial planners expenses so they're adding on an adding on big money onto their income.

Prices for cars hasn't gone up significantly in a while I feel like.

Second, you should check if your own car insurance or credit card will cover car damage. Don't pay twice for the same thing.

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19 points · 7 days ago

Second, you should check if your own car insurance or credit card will cover car damage. Don't pay twice for the same thing.

I'd rather pay the $20 bucks or whatever it is than use my insurance and have my $500 copay, yanno?

Some of us carried the thick municipal map books around and even bought them for cities we’d visit.

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13 points · 8 days ago

My Dad used to make me go inside every convenience store we stopped at to ask for local maps or state maps of we were visiting. He said local stuff was usually more accurate than the AAA maps we had, and he just was using the AAA maps to get the local maps. He had a bunch of maps strewn through plastic tubs he'd always bring with on any trip - part safety equipment, part repair equipment, part candy and snacks.

Anyway, learning how to navigate on a map and plan your route is a skill that I don't utilize a lot of, but when I got lost in Arizona with no signal and no internet was incredibly grateful to have

If your liabilities exceed your assets by at least the total value of your *forgiven debt at the date when your debt is forgiven then you can avoid paying taxes on the forgiven debt. This is considered being “insolvent”. Not exactly sure what the law is here I researched heavily to avoid paying taxes on a $20,000 debt that was forgiven for me

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3 points · 9 days ago

If your liabilities exceed your assets by at least the total value of your *forgiven debt at the date when your debt is forgiven then you can avoid paying taxes on the forgiven debt. This is considered being “insolvent”. Not exactly sure what the law is here I researched heavily to avoid paying taxes on a $20,000 debt that was forgiven for me

you consider all of your assets - including value of homes and retirement accounts - and if it's lower than all of your debts, you're free.

My partner of 14 years changed numbers 5 years ago, and I still don't have the new one memorized, lol. I should probably get on that.

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6 points · 9 days ago

I decided that I needed to memorize my GFs # a week before I was hospitalized and without my phone, it was super super helpful when hospital staff needed to get ahold of her.

True. But i do sell meals as part of some services. But i do think that most people here are to depressed and just wanna downvote. Never seen so many sinic reactions on something as basic as helping a customer.

Maybe its a cultural thing. In that case im happy i dont life where OP lives.

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3 points · 10 days ago

I dunno, I just know some people are incredibly.... unhappy with their coffee. My friend once asked for 2 sugar lumps in their coffee, saw them add two, tasted the coffee, asked if they put in standard sugar cubes because she couldn't taste it. Asked them to put another one in, tasted it again, and asked for it to be remade because it was too sugary.

I don't know in any world that's anywhere near reasonable or the shops fault.

I agree conpletly with you. Customers are somethimes a pain in the ass. But they are also human. Many things they do are not about the product itself. They have a bad day. Stressed. Etc. But ok i give up. Lets all just agree that this woman was wrong and that because of this she doesnt deserve some extra service.

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and that because of this she doesnt deserve some extra service.

I have no problem with my businesses giving extra service to my clients occasionally, I have no problem doing it. But I can't do it daily, or with every customer. It's incredibly easy to say "Well just raise the price so you can afford to do it" and incredibly difficult in markets where a block over they can go to someone who will do what i'm doing now for the price i'm doing it for now. It would completely upset my business model, put me behind for years and I don't know that I'd ever find that clientele in my current business location, or my town, ever. Certainly not enough to support my house payments, business payments and business mortgage payments.

I personally would've told the lady I can do nothing OR i can do this other attempt, because I added the sugar as requested and made the drink to her specifications.

12 points · 10 days ago

True.

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6 points · 10 days ago

When my father passed away in 2016 the policy holder wanted some original documentation from the policy we had purchased in 1964. We ended up talking with our agent who said that if the insurance company wouldn't pay it, his E&O would, but he was getting ahold of the insurance company to say pay them. They did once he contacted them. Annoying initially, but not that bad as it was all resolved within 8 hours.

21

Taxpayers who owe tax and file their federal income tax return more than 60 days after the deadline will generally face a higher late-filing penalty. Ordinarily, the late-filing penalty, also known as the failure-to-file penalty (FTF), is assessed when a taxpayer fails to file a tax return or request an extension by the return due date. This penalty, which only applies if there is unpaid tax, is usually 5 percent for each month or part of a month that a tax return is late.

If a tax return is filed more than 60 days after the April due date -- or more than 60 days after the October due date if an extension was obtained -- the minimum penalty is either $210 or 100 percent of the unpaid tax, whichever is less. This means that if the tax due is $210 or less, the penalty is equal to the tax amount due. If the tax due is more than $210, the penalty is at least $210. The late-filing penalty will stop accruing once the taxpayer files a complete and correct return.

The FTF penalty does not apply to the Taxpayers who met this year’s April 18 deadline to file their individual tax return. It also won’t apply to the Taxpayers who asked the IRS for a six-month extension of time to file, as long as they file by Oct. 15, 2018.

In addition, the IRS urges Taxpayers to pay what they owe to avoid additional late-payment penalty and interest charges. The late-payment penalty, also known as the failure-to-pay penalty (FTP), is usually 0.5% of the unpaid tax for each month or part of a month the payment is late. Interest, currently at the rate of 5 percent per year, compounded daily, also applies to any payment made after the original April 18 deadline.

After a return is filed, the IRS will figure the penalty and interest due and bill the taxpayer. Normally, the taxpayer will then have 21 days to pay any amount due.

Penalties for individuals, at IRS.gov

Source, at IRS.gov

6.0k points
21
Moderator of r/television, speaking officially1 point · 10 days ago

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Moderator of r/television, speaking officiallyScore hidden · 10 days ago · Stickied comment

Hi Everyone,

It's been a rough week. If you or someone you know is suicidal, please seek help.

Here are some resources:

 

Worldwide Directories

We know of two international lists that are maintained by reputable agencies:

Do be aware that there are a lot of online global hotline lists maintained privately by members of the public. Although these people usually mean well, the information on their sites is often outdated or incorrect.


 

United States

(The older number, 1-800-SUICIDE, is no longer published by the lifeline agency and will probably stop working in the near future.)


 

Unsure if you should reach out to a hotline?

If you are worried about reaching out through these hotlines for any reason, then please check out this FAQ which may address some of your concerns.


 

The above information comes from our friends over at /r/suicidewatch who maintain an excellent resource page that contains hotline numbers, chat lines, and more for countries around the world.

/r/suicidewatch mods do not welcome posts that are primarily to discuss/debrief celebrity suicides. The sub exists to provide help for redditors who are having a rough time. If you go there to offer help, read their rules because they have extremely strict guidelines.

Shamelessly taken from /r/news

From the other side, I once attempted to check in to a hotel in the wrong city. The difference was between drive vs street. The lot numbers were the same, I attempted to check in to a hotel in St Paul when the reservation was for Minneapolis. If it helps at all I was not a jerk and more embarrassed than anything else. They gave me directions and I was on my way.

Sort of a funny after the fact sort of moment, just glad I could shrug it off.

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27 points · 11 days ago

From the other side, I once attempted to check in to a hotel in the wrong city. The difference was between drive vs street. The lot numbers were the same, I attempted to check in to a hotel in St Paul when the reservation was for Minneapolis. If it helps at all I was not a jerk and more embarrassed than anything else. They gave me directions and I was on my way.

Sort of a funny after the fact sort of moment, just glad I could shrug it off.

I did something super similar a few weeks back, but the same chain happened to run both and they told me the correct address and gave me a voucher for a free drink at the bar!

As long as you're not in an arroyo (why would you be) or in your car (being an idiot) you're fine. You can completely control the circumstances.

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5 points · 11 days ago

well yes theres plenty of ways to be totally safe, but lets not pretend that ABQ has absolutely no natural disasters! Just like theres plenty of ways to be safe in tornado ally lol

Just like theres plenty of ways to be safe in tornado ally lol

If a tornado decides, hey, you see that house over there? Wanna see it disappear? You better believe it's going to disappear. I don't care how you can try to be safe, nothing's going to save you from that. And it's not just lives lost but damage too. Albuquerque's never ending up like Moore.

ABQ has absolutely no natural disasters!

No, but they're very unlikely.

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6 points · 11 days ago

You have to take precautions for tornados just like you take precautions for flash floods and flood plains. I can think of a few people who bought houses near the flash flood plains around abq who regretted it, just like I know people who didn't prepare for blizzards or tornados who regretted it.

Ah. Okay. I sort of over interpreted. So, if I got a job, they can’t just say late every day without a possible issue, if I wasn’t late every day. Okay. But if I was they possible could. Doesn’t mean they will.

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4 points · 11 days ago

Ah. Okay. I sort of over interpreted. So, if I got a job, they can’t just say late every day without a possible issue, if I wasn’t late every day. Okay. But if I was they possible could. Doesn’t mean they will.

Correct, and usually they won't, because then it could be an issue later on with expensive lawyers rather than relatively cheap office staff.

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