They swore I needed to make 15,000 in payments. They decided to ACH debit the whole amount from my account in one day with zero notice, after telling me to make the payments myself on the IRS website. I now have to somehow request a refund from the IRS due to their stupidity. Which means Im gonna need to request the refund for next years' taxes because the IRS doesn't do refunds like that. This is on top of charging me 5,000$ to do my tax return this year. It was quite lengthy, but 5,000 seems a little much to me
Let me tell you something about accountants and tax preparers. The law makes the accountants and tax preparers liable for any taxes that you don't pay. So they are always always going to recommend the worst tax strategies for you.
They're going to make sure that they make an error on the side of the IRS so they're going to suggest you pay the most money so at the end of the year if the IRS has a complaint about the tax form that they prepared they're not going to be liable for the money you would owe.
This is why going to a tax preparer is no longer the best way to get the best tax strategy.
Now I want to be clear you need to pay your damn taxes. It's absolutely stupid for anybody not to pay the taxes they owe. It's the one group you don't want to rip off. Don't rip off the IRS cuz they'll get your ass. So don't do that.
But when there are things that you can do that legally you can write off and other things but that the tax preparer might think might have a chance of getting you audited and might have a chance of getting a bad IRS agent to audit you and make a bad determination about what you owe and require you to go to court to fight it while they go ahead and take the money from your accounts and your tax preparers account then the tax preparer is not going to advise you to do that strategy.
The funniest part was that my DL was from a 0% income state and i said just use what my DL says. The accountant said I definitely shouldn't do that, and instead shoved me into the higher tier state where I was living. That small correction they made cost me 5,000$
My corporate taxes cost about 3k to do and you are a fucking retard for giving your checking account info to anyone. What did you think they would do? Oh, you’re not getting that money back, now, next year or ever.
Well they had told me to make payments myself, than they just ACHed it all from my account. I think they're much more conservative CPAs so they're of the theory to pay more to the IRS and get more back later, vs paying less now and paying more later.
It's just weird cause any time i get an inkling of money anywhere, it gets sent off to some random new thing and im back at square one
They can’t ACH you without your account number and your routing number. They have to have both. You must have given them a check at some point. Close your account and open a new one. Then walk in to your accountants office and knock someone out.
yeah they had it from the prior year for a refund, but they always notify you ahead of time that they will do the ACH. When you account for their yearly fee + filing fee + monthly servicing fee + correction fee for premature payment, and horseshit advice they gave me over withholding (i wrote another post about their ideas on the subject), their total fee was 30,000$ for the year.
I'm friends whose also a client said the same thing, they're just way too expensive now, and my tax needs are too simple to require such an expensive accountant. They did do the filing free this year, but it wasn't really free since I payed them 5,000 for the year in servicing fees.
What confused me this year is i asked them how to pay my IRS balance, they gave me IRS vouchers, and then went on to deduct balance from my account instead.
Yeah, get a different CPA. Use a small firm, I’ve been hosed by the larger firms before. Are you filing a schedule C? If not, you may just need a tax person, not a CPA.
For this year I am, starting now, all LLCs are cancelled. So for 2024 I'll have some Schedule C stuff, but not a lot of them. After that, no Schedule C anymore. FFS their tax rate comes close to 500$/hr with all the damn fees
Bidenomic: pay more for less. This is a very large corporate CPA, and they recently upped their fees in the wake of the inflation issues. The problem is their rate from 100$/hr to 250$/hr+ which is rapidly becoming unaffordable to me.
It feels like any time I can save money, some new asshole comes along and finds ways to destroy any progress I made with saving money. If it's not the IRS, its always something
There's many things Im curtailing lately left over from not knowing better at the time. I may just get a new account with new routing/account on it, may be easier than trying to ACH block everyone
In fact you should always maintain multiple separate bank accounts because for example if you give PayPal access to one of your accounts did you know PayPal can take a bunch of money from your account with no warning? So you never want to have a lot of money in that account that PayPal can steal. So you actually have to have separate accounts at separate Banks because just having separate accounts at the same bank will not prevent the bank from giving those people access to your other accounts. The bank will do that.
I hope you know that you and even your company should hold some money in a Bitcoin wallet whose private keys you control so there is absolutely no way that anyone can take that money and no Bank can take that money and no one can take that money. Only you can give that money to somebody.
[ + ] Crackinjokes
[ - ] Crackinjokes 1 point 1.7 yearsAug 24, 2023 11:23:42 ago (+1/-0)*
They're going to make sure that they make an error on the side of the IRS so they're going to suggest you pay the most money so at the end of the year if the IRS has a complaint about the tax form that they prepared they're not going to be liable for the money you would owe.
This is why going to a tax preparer is no longer the best way to get the best tax strategy.
Now I want to be clear you need to pay your damn taxes. It's absolutely stupid for anybody not to pay the taxes they owe. It's the one group you don't want to rip off. Don't rip off the IRS cuz they'll get your ass. So don't do that.
But when there are things that you can do that legally you can write off and other things but that the tax preparer might think might have a chance of getting you audited and might have a chance of getting a bad IRS agent to audit you and make a bad determination about what you owe and require you to go to court to fight it while they go ahead and take the money from your accounts and your tax preparers account then the tax preparer is not going to advise you to do that strategy.
[ + ] HeyJames
[ - ] HeyJames 1 point 1.7 yearsAug 24, 2023 11:41:04 ago (+1/-0)
[ + ] Deleted
[ - ] deleted 0 points 1.7 yearsAug 24, 2023 10:28:17 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 0 points 1.7 yearsAug 24, 2023 11:01:54 ago (+0/-0)
[ + ] TheOriginal1Icemonkey
[ - ] TheOriginal1Icemonkey 0 points 1.7 yearsAug 24, 2023 10:29:58 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 1 point 1.7 yearsAug 24, 2023 10:33:12 ago (+1/-0)
It's just weird cause any time i get an inkling of money anywhere, it gets sent off to some random new thing and im back at square one
[ + ] TheOriginal1Icemonkey
[ - ] TheOriginal1Icemonkey 0 points 1.7 yearsAug 24, 2023 10:36:36 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 1 point 1.7 yearsAug 24, 2023 10:41:59 ago (+1/-0)
I'm friends whose also a client said the same thing, they're just way too expensive now, and my tax needs are too simple to require such an expensive accountant. They did do the filing free this year, but it wasn't really free since I payed them 5,000 for the year in servicing fees.
What confused me this year is i asked them how to pay my IRS balance, they gave me IRS vouchers, and then went on to deduct balance from my account instead.
[ + ] TheOriginal1Icemonkey
[ - ] TheOriginal1Icemonkey 0 points 1.7 yearsAug 24, 2023 10:45:16 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 1 point 1.7 yearsAug 24, 2023 10:46:31 ago (+1/-0)
[ + ] Anus_Expander
[ - ] Anus_Expander 0 points 1.7 yearsAug 24, 2023 10:50:11 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 0 points 1.7 yearsAug 24, 2023 10:56:48 ago (+0/-0)
It feels like any time I can save money, some new asshole comes along and finds ways to destroy any progress I made with saving money. If it's not the IRS, its always something
[ + ] Deleted
[ - ] deleted 0 points 1.7 yearsAug 24, 2023 11:11:02 ago (+0/-0)
[ + ] CovidHoldout
[ - ] CovidHoldout [op] 1 point 1.7 yearsAug 24, 2023 11:12:59 ago (+1/-0)
[ + ] Deleted
[ - ] deleted 0 points 1.7 yearsAug 24, 2023 11:23:51 ago (+0/-0)
[ + ] Crackinjokes
[ - ] Crackinjokes 0 points 1.7 yearsAug 24, 2023 11:25:33 ago (+0/-0)
In fact you should always maintain multiple separate bank accounts because for example if you give PayPal access to one of your accounts did you know PayPal can take a bunch of money from your account with no warning? So you never want to have a lot of money in that account that PayPal can steal. So you actually have to have separate accounts at separate Banks because just having separate accounts at the same bank will not prevent the bank from giving those people access to your other accounts. The bank will do that.
[ + ] Crackinjokes
[ - ] Crackinjokes 0 points 1.7 yearsAug 24, 2023 11:30:11 ago (+0/-0)