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I need a good accountant
Posted on 6/4/13 at 8:35 am
Posted on 6/4/13 at 8:35 am
The one I have now does it straight by the books. Doesn't try to save me money and never wants to cut corners.
I need a slick, sly, not gonna get me in trouble team player.
Any of you NWA'ers know of anyone like that?
I want to write off everything. I want 3/4 of my personal vehicle miles to be shown as business use. I want my office at home to be shown as business use. I want my garage at home to be shown as storage use.
None of that's cheating, but my guy will not do it and I can save some money here.
I need a slick, sly, not gonna get me in trouble team player.
Any of you NWA'ers know of anyone like that?
I want to write off everything. I want 3/4 of my personal vehicle miles to be shown as business use. I want my office at home to be shown as business use. I want my garage at home to be shown as storage use.
None of that's cheating, but my guy will not do it and I can save some money here.
3
Posted on 6/4/13 at 9:13 am to Hawgeye
That's pretty crazy. No legit CPA would KNOWINGLY take those deductions.
It's all about the communication/presentation. Just tell him you have spent so much for business storage. Don't tell him it's your garage. Give him your mileage and don't tell him it's 75%.
Home office deduction might be more difficult. It's ok if legit, but ,in reality, it's pretty uncommon and is a red-flag
It's all about the communication/presentation. Just tell him you have spent so much for business storage. Don't tell him it's your garage. Give him your mileage and don't tell him it's 75%.
Home office deduction might be more difficult. It's ok if legit, but ,in reality, it's pretty uncommon and is a red-flag
Posted on 6/4/13 at 9:22 am to RunningBlake
It's all pretty legit actually. 75% of my cars miles this past year are from doing crap with a business. My home office is where I do all of my bookkeeping, state sales tax, etc. my garage houses so much crap I can barely get one car in it now.
I'm not lying, I just need someone who is going to work with me.
I'm not lying, I just need someone who is going to work with me.
Posted on 6/4/13 at 9:54 am to RunningBlake
quote:
That's pretty crazy. No legit CPA would KNOWINGLY take those deductions.
Yes they do. You'd be amazed what we have pulled off. (and haven't).
Just one example (result from our audit last year):
My boss's 6 Series was not approved as a company vehicle. His wife (who obviously does not work in our office but it an owner) has a Land Rover. Approved. Why? B/c it's a truck.
I could go on and on....
It's all 100% legal. You just have to have someone that knows the law inside and out.
And that you trust explicitly.
Good luck Hawgeye. Be careful. Don't hire just any guy that someone on here recommends. No offense to anyone.
We were audited last year and it's the biggest pain in the arse.
Posted on 6/4/13 at 10:14 am to Hawgeye
post your e-mail, and I'll send you a name.
Posted on 6/4/13 at 10:18 am to hoginthesw
quote:
None of that's cheating, but my guy will not do it and I can save some money here.
There is a reason he won't do it. I would guess you have told him too much about your situation and that's why he is hesitant. Because, yes, those deductions could certainly be 100% legit.
ETA: Home-office needs to be used exclusively for business and needs to be in an identifiable space (i.e., not the dining room table). Nothing personal about. It's best to have a separate, dedicated phone and/or internet connections.
This post was edited on 6/4/13 at 10:37 am
Posted on 6/4/13 at 12:04 pm to Hawgeye
Hawgeye,
Sounds like you've got a good accountant. What you need is a patsy you can blame and have the auditor take sympathy on you when audit time rolls around.
If you've got some serious tax liabilities, I suggest reading into basing your businesses in Liechtenstein. Once I can to the point of selling licensing my biz model (can't call it a franchise because then I'm pigeon holed at a specific pricing and liabilities) I hope to base it all out of Liechtenstein, it's a tax free country and how F1 has never paid a dime of taxes on the Billions upon Billions they've raked in.
Sadly a lot of the loopholes are being closed. They had a really bad money laundering problems in the early 2000's but from what I've read you can still base your operations there with some paperwork. I'm still trying to figure out how to accomplish dual citizenship and how to properly establish investment companies to harbor the holding companies which will be in control of the individual units.
It's not easy but If I can avoid paying taxes like the big boys do then I'm going to at least read into it and have awareness of what the options are at least. I don't think they care much about small business owners saving a few bucks, they're after terrorists and banks laundering drug and weapons funds.
Sounds like you've got a good accountant. What you need is a patsy you can blame and have the auditor take sympathy on you when audit time rolls around.
If you've got some serious tax liabilities, I suggest reading into basing your businesses in Liechtenstein. Once I can to the point of selling licensing my biz model (can't call it a franchise because then I'm pigeon holed at a specific pricing and liabilities) I hope to base it all out of Liechtenstein, it's a tax free country and how F1 has never paid a dime of taxes on the Billions upon Billions they've raked in.
Sadly a lot of the loopholes are being closed. They had a really bad money laundering problems in the early 2000's but from what I've read you can still base your operations there with some paperwork. I'm still trying to figure out how to accomplish dual citizenship and how to properly establish investment companies to harbor the holding companies which will be in control of the individual units.
It's not easy but If I can avoid paying taxes like the big boys do then I'm going to at least read into it and have awareness of what the options are at least. I don't think they care much about small business owners saving a few bucks, they're after terrorists and banks laundering drug and weapons funds.
Posted on 6/4/13 at 12:25 pm to LOCO5150
Hawgeye5151@gmail
Posted on 6/4/13 at 12:26 pm to CtotheVrzrbck
quote:
I don't think they care much about small business owners saving a few bucks, they're after terrorists and banks laundering drug and weapons funds.
the opposite is true currently. our IRS auditor's supervisor and our accountants told us that fewer small business owners were audited historically; but more frequently. Now more are being audited but less often.
The end goal is to show your operating entity to show little to no profit. Not your business but your operating entity. We aren't huge and believe me when I say small business owners can legally get around quite a bit. It's a matter of how you set up your entities essentially, but he can pull it off.
Posted on 6/4/13 at 1:24 pm to Hawgeye
Sent
This post was edited on 6/4/13 at 1:31 pm
Posted on 6/4/13 at 5:28 pm to Hawgeye
quote:
I need a slick, sly, not gonna get me in trouble team player.
He won't get in trouble but you can.
quote:
I want to write off everything. I want 3/4 of my personal vehicle miles to be shown as business use. I want my office at home to be shown as business use. I want my garage at home to be shown as storage use.
Depends on the state and IRS frowns upon business office then a "home office" for business use also.
quote:
None of that's cheating, but my guy will not do it and I can save some money here.
You want to write off all legit business expenses but be careful. If you're the sole owner you can live off your business, if not then you can have serious issues. If you can't defend it in court don't write it off.
I am suing the shite out of someone right now and I am hanging massive IRS problems and prison over their head because of all the "business" deductions. If you don't plan to get sued do as you please.
My advice. You learn all angles you can legally cut and defend for deductions then address with an experienced accountant. Worry about making more money not how to cut more corners because that is how you get where this idiot went. You can take or leave my advice but I am about to fricking hammer someone right now who went stupid greedy.
This post was edited on 6/4/13 at 6:06 pm
Posted on 6/4/13 at 7:30 pm to SunHog
Nah, not stupid greedy.
I use my SUV legit for a lot of business things. I have an office at our main location but disabled Internet because employees surf the net and get viruses left and right. The new tan salon also has Internet and computer, but the Internet is unplugged most all the time because the software on that computer is what runs that entire place.
And I have no partners. Everything is in 2 LLCs.
I use my SUV legit for a lot of business things. I have an office at our main location but disabled Internet because employees surf the net and get viruses left and right. The new tan salon also has Internet and computer, but the Internet is unplugged most all the time because the software on that computer is what runs that entire place.
And I have no partners. Everything is in 2 LLCs.
This post was edited on 6/4/13 at 7:45 pm
Posted on 6/4/13 at 10:11 pm to Hawgeye
quote:The sexy pronz is on da way.
Hawgeye5151@gmail
Posted on 6/4/13 at 10:34 pm to Drewbie
I know I may not have much input here, but if you went to the University of Arkansas and majored in Business but yet paying someone to do your taxes?
then you need
taxact easiest thing you could every use, fool proof and it costs maybe 20 bucks and you can even deduct it from your return.
then you need
taxact easiest thing you could every use, fool proof and it costs maybe 20 bucks and you can even deduct it from your return.
Posted on 6/4/13 at 11:24 pm to HawgAlude
quote:
taxact easiest thing you could every use, fool proof and it costs maybe 20 bucks and you can even deduct it from your return.
Hawgeye has more money at stake than a McDonald's worker like yourself. It is probably better for him to have a person who is experienced in the pages upon pages of tax code our country has, no matter what degree he has or where it is from.
This post was edited on 6/4/13 at 11:27 pm
Posted on 6/4/13 at 11:40 pm to beebefootballfan
Posted on 6/4/13 at 11:43 pm to beebefootballfan
Posted on 6/5/13 at 12:22 am to HawgAlude
Business major at uark =\= accountant.
Hawgalude, the true alumni.
Hawgalude, the true alumni.
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