Todd Schanel @Advisor_Jupiter
CPA, CFP, CFA. "A write-off is a business expense used to reduce your taxable income." Jupiter, FL Joined March 2021-
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Always get a few of these around this time: "I just uploaded my tax docs, I'm okay with an extension, just let me know if I should send in a payment". #TaxTwitter
Clients who hire us to do monthly accounting? Good Clients who have a competent controller or bookkeeper? Good Clients who think they can do it themselves but can't? Disruptive, demoralizing, soul crushing, profit killing, I could go on. #TaxTwitter
My Tax Preparer Just Raised Her Fees — What Should I do? obliviousinvestor.com/my-tax-prepare… @AcctPod @BlakeTOliver #TaxTwitter @michaelrpiper
Business owners, buying equipment before you need to “save taxes” makes no sense— unless you actually need the equipment within ~60-90 days of the new year, your tax rate is going down, or you need to lock in a purchase price discount.
Business owners, buying expensive vehicles to “save taxes” makes no sense, just admit you love buying cars. #TaxTwitter
Trying to figure out whether to purchase equipment in 2023 or delay until 2024? Assuming tax rates are the same , delaying an equipment purchase to 2024 is optimal if it can be delayed by at least the tax rate * 365 days. #taxtwitter
We host #Ultratax on our local server, any suggestions for a Cloud hosting service? #TaxTwitter
% of curriculum devoted to tax: CPA: ~12% (see photo below) CFP: ~14% EA: 100% #taxtwitter
Anyone have insight on the best system for employee expense tracking and reporting? Must have QBO integration. Expensify, divvy, other? #taxtwitter
How to properly email your new #Accountant or #TaxPreparer in April. #TaxTwitter #CAStwitter
One wrote an article.
Taxpayer on Apr 12th: “Can you file an extension for my s-corp?” It’s amazing how many people think the corporate deadline is Apr 15th. #TaxTwitter
I’m not so sure increasing exam window to 24 mos is a good idea. “Work expands so as to fill the time available for its completion.” #TaxTwitter
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55 Followers 204 Following Fee-only advisor's trusted insurance partner. Life, long term care, disability insurance & annuity solutions.I hear I missed a convo about changing the tax deadline. Anything good happening yet? #changetaxday
I’ll be on the AICPA Town Hall today at 3pm eastern with all the people more knowledgeable and distinguished than me! And everyone will be watching. Nerves, be still! 😬
❌Clients think they are paying for a product (tax return) ✅Tax pros charge for a service provided This is MUCH more than data entry. Critical thinking goes into every client’s situation, not only for proper compliance, but to look for opportunities. #changetaxday
I either want someone out of the homerun tier (Billy D is all that’s left) or someone in the fun tier (Pearl, Pitino, Will Wade) No half ass in between coaches
Somebody gotta get Billy D on the phone and tell him that nba shit is cooked. It’s time to get back to school
I just got a status update request from a client who ended the email with “thank you for your time and energy”. Why did this make me feel so seen?!
3 things tax pros must do over the weekend 1. Sleep in an extra hour or two if you’re an overachiever 2. Have a picnic lunch with a loved one or friend for at least one hour in the sunshine (get that vitamin D!) 3. Eat at a restaurant but order dessert only
It just means more.
This is peak SEC Twitter
★ Just published a new episode of The Accounting Podcast with @BlakeTOliver and @davidleary: Get Rich Doing Bad Audits. Listen: share.transistor.fm/s/02e1648f
@Advisor_Jupiter @AcctPod @michaelrpiper A CPA who understands economics!
What's the best speed for listening to podcasts and/ or audiobooks? The answer is 1.2x.
imma let you in on a little secret, you probably don't want your tax pro completing your tax returns between 04/01 and 04/15. we're just throwing stuff at walls at this point and taking wild guesses.
@Robert_A_Berger The Fed had no problem reducing our purchasing power by keeping short-term rates extremely low for several years, now they want to give some of it back. I’m going to let them.😉
In today's me-too society, where people demand their uniqueness be recognized for days and weeks each year, we should not forget those who actually did something. Today is Medal of Honor Day in honor of those who received our nation’s highest award for valor.
Today, we remember the courage, tenacity, and fighting spirit of the service members who have received our nation’s highest award for valor, the Medal of Honor. 298 #Marines have received the medal to date - many posthumously. Semper Fidelis #MedalofHonorDay #USMCHistory
…but that’s how this conference works 😉
Can’t brag about the ACC having 4 teams in the Sweet 16 when I spent part of this weekend rooting hard for two of their downfalls
With State, Duke and UNC in the #Sweet16 it’s a good day to read about a couple podcasters (@joeovies and @giglio_OG) who want the basketball rivalries on Tobacco Road to never end.
NEW: Former radio hosts, Joe Ovies and Joe Giglio, are reinventing themselves as podcasters at a fraught time for both media and sports. theassemblync.com/media/sports-p…
If you're claiming QuickBooks as a business expense on your tax return, it's a good idea to give your accountant a profit and loss statement from QuickBooks instead of a "list" of your business expenses. (Better yet, access to QB so we can look at all the reports we need?)
@LoganGrafTax My firm (middle market regional) has $1500 minimum for 1040s and $5000 minimum overall client fees for new clients of any kind