CPA versus Turbotax

[Martha]

Quote:

Originally Posted by Nords Since our returns don't push the limits, I'd rather have the IRS catch an electronic mistake. I can also schedule the ACH payment for the 15th via EFTPS instead of mailing in a paper check at the last minute. I'm more concerned that they're going to screw up (or lose!) the paper version and efiling is a lot less hassle than printing, addressing, & mailing.

We have efiled since it was available. Nevertheless, it has taken months to convince the IRS that we actually filed tax returns for the past three years.

[cute fuzzy bunny]

Quote:

Originally Posted by retire@40 Hard to believe anyone could miss a motor vehicle deduction after going through the business disbursements for the year, especially one that large, whether paid in full with one business check or financed. Just hard to believe he got no deduction at all before you showed up.

I didnt say he got no deduction at all. I said he didnt get the "hummer deduction". His CPA just took the basic business mileage and depreciation deduction. Until I printed out a few articles and the relevant tax code, his CPA had never even heard of it.

Believe it or not, it looks like at least some CPA's suck at what they do.

[cute fuzzy bunny]

Ick. I was going to e-file this year for the first time. I think I changed my mind.

[grumpy]

Quote:

Originally Posted by Martha We have efiled since it was available. Nevertheless, it has taken months to convince the IRS that we actually filed tax returns for the past three years.

I ALWAYS mail in a paper return. I am not going to do anything to make it easier on the IRS!

Grumpy

[REWahoo]

I never noticed this before...

The IRS = Theirs

[Martha]

A few months ago I was whining on this forum because I could not prove I filed tax returns for the last three years. Because it is a violation of professional rules for lawyers not to file tax returns, every three years our firm requires our lawyers to prove they filed by filing form 8821 with the IRS. The IRS then sends confirmation of filing to our firm. Last summer, in response to the 8821, the IRS said I had not filed when in fact I had efiled for sometime. Fussed and fussed trying to resolve this.

Finally went a different route and I ordered a transcript from a different department in the IRS. They provided the transcripts for the last three years. I gave that to the department in charge of the 8821s and got my proof. WHAT A PAIN IN THE A**!

[Martha]

Quote:

Originally Posted by (Cute Fuzzy Bunny) Ick. I was going to e-file this year for the first time. I think I changed my mind.

You do get a filing reciept. Don't lose it.

[cute fuzzy bunny]

Eh, up until now i was put off by having to pay someone something to do the e-file. I wont pay someone 50c to do something that makes THEIR life easier.

In the face of getting my return more thoroughly analyzed AND having to possibly jump through hoops to prove I filed a return, I think they're going to get another stack of paper from me this year again.

:P

[retire@40]

Quote:

Originally Posted by (Cute Fuzzy Bunny) I didnt say he got no deduction at all.* I said he didnt get the "hummer deduction".* His CPA just took the basic business mileage and depreciation deduction.* Until I printed out a few articles and the relevant tax code, his CPA had never even heard of it. Believe it or not, it looks like at least some CPA's suck at what they do.

First of all, you keep saying "hummer deduction" but there's no such thing. *It's an option to take a full Sec 179 deduction on ANY vehicle that weighs over 6000 pounds used for business.

Second, you can't take a business mileage AND depreciation deduction. *That is such a basic concept, I'm sure that's not what the CPA actually did.

Third, if you had your relative take a Sec 179 deduction on the full cost of the vehicle in one year, it may have been a mistake and may have actually cost him more in taxes in the long run.

I hope you also explained to your relative the recapture rules regarding the expensing.

[cute fuzzy bunny]

You know something? You really ARE a noodge.

The deduction is VERY well known as "The Hummer Deduction".

I take it back. Never take your taxes to a CPA regardless of how complex they are or how cheap the CPA is. You'll be picked and needled with irrelevance until you run screaming from the office.

[Nords]

Quote:

Originally Posted by (Cute Fuzzy Bunny) You know something?* You really ARE a noodge.

VARIANT FORMS: or nudzh or noodge
NOUN: Slang One who persistently pesters, annoys, or complains.
VERB: Inflected forms: nudged or nudzhed or noodged, nudg·ing or nudzh·ing or noodg·ing, nudg·es or nudzh·es or noodg·es

TRANSITIVE VERB: To annoy persistently; pester.
INTRANSITIVE VERB: To complain or carp persistently.
ETYMOLOGY: From Yiddish nudyen, to pester, bore, from Polish nudzi.

Hey, I only got 732 hits for the phrase "Hummer deduction". And apparently it has nothing at all to do with tax breaks for prostitutes?!?