I have to agree. I dont have a 11 fold yet but I had a 10 fold and the processing was just so much better than even my fold 7. He'll i would argue my 10 fold took some pictures that were even better than my iPhone 17 pro max. Googles processing is just so much better. Videos are a different story though lol.
I have a client who did their own tax return in 2023 and did not include 30k of income. IRS found out and is proposing deficiency tax of $10k and penalty of $2500.
I amended their return and the amended return also changed filing status so they have a refund instead of owing on the amended return even when including the income they failed to report.
I submitted the amended return in April this year. The IRS has their return but has not processed it.
We responses to the letter saying we disagree and included a copy of amended return.
Should we still file petition for tax court since IRS has not processed the amended return?
Should I call the IRS?
What steps should I take to help my client with this.
Currently using a fold 8. And overall it is a great phone. But I really miss the pixel experience and google software integration. I also miss dual meet video calls. I call my family a lot and the dual meet calls makes calling them a lot of fun when I show my son on camera.
I also think the pixel fold takes better pictures which is important for me since I have kids. Fold 8 pics are not bad but not great. And the pixel has the 5x zoom lens.
What is the best AI tax prep and review software right now. Is it Juno? Filed.AI?
Claude can do a decent job reviewing the returns right now. It will sometimes catch minor mistakes. But I am curious if there is anything else out there that works well?
Claude is probably the cheapest option for review right now.
Trying to decide if I should keep the trifold and use it as a secondary phone or sell it. I also have a fold 8. I love the fold 8 form factor and front display. It beats the trifold front display in my opinion. Also this phone is like 50% lighter and is so nice to hold. The trifold is nice but it is thick and heavy most of the time.
Client is asking if I will use their account and make the quarterly estimated payments. Seems like it will be more of a pain than its worth. Do you offer this as a service? Should I tell them its $300 a quarter for me to do this?
They get tax planning advice for free from the wealth manager so I can't really charge for tax planning as they won't want to pay for that. Thought about wrapping estimated payment services into a tax planning fee but won't be able to for this client.
Currently use MS Office and zoom. I feel like good workspace could replace both of these.
Currently been building my practice with Canopy. It is ok. But overall I feel like I should have went with TaxDome.
TaxDome seems like it has more features and things are built out better. For example I was going to use Canopy for client payments and have run into issues. Also Canopy charges for KBA signatures while tax dome includes them for free.
Anyone here use both and have a preference for one or the other? I hate to transition my clients to a new platform but my firm is young enough that I can do it.
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I have a new client. HNW. Gifted $300k to each kid but last CPA didnt file form 709 because he was most likely incompetent.
Since I need to file for gift splitting and two 709s, what would you charge for this?
I was thinking $1000 total for the two filings.
Can't decide if I want this one. I know its limited. Probably will increase in value since they are only making so many of these. I dont collect for value kncrwaes but if you want to buy later 2nd hand will probably cost more.
Long story short I started getting some referrals from a local PWM shop. They make 1% fee for AUM on all clients. They have one HNW client they referred to do tax work. Client said last CPA wasn't responsive. First red flag but I am building a book and decided to take this new client on. New client is worth over $10M. Wants me to put together analysis on if they should buy with cash or finance new house purchase and show potential state credits for renovation work etc. I told them I bill at $400 an hour for this type of work since they were not a recurring client. They also want me to calculate 2026 estimated taxes again as they had some new income sources. Oh and they file MFJ but want to allocate the refund or tax payments between the husband and wife because for some reason they want to keep their money separate so I have to calculate this out.
I quoted $1400 for all this work because it was going to take at least a few hours plus I had a feeling she would be a tough client since they have all these demands. Said last CPA charged them $550 to file taxes which is way too cheap in my area.
After being transparent with pricing and sending the engagement letter she said the PWM manager will do the work and she just wants my expertise to take a look at it.
How do you handle this? Like of course the PWM manager will do it because they are making over $70k a year off you for doing nothing. I have a Macc degree and a CPA with over a decade of experience and you are too cheap to pay me $1400 to do this for you.
What would you do? I do not want to sign off on anything the PWM manager does. I will review it for an hourly fee but thats it. Honestly i do not want to give free advice to the PWM managers clients. I have a feeling that is exactly what these PWM managers are looking for. Have me file their clients taxes every year and them reach out periodically throughout the year with a bunch of tax questions and demands that I just answer for free.
What do you all think Sammy will give us for trade in next year for trifold 2? I am betting $1200. I wish they would bump it to at least 1500 but I have a feeling we will get ripped.
Only wondering because not sure if I should sell this phone now or hold onto it for trade in. I like this phone but I find it too heavy to daily drive. I also am buying a fold 8 wide. Keeping my s26 ultra for pictures though.
Currently building my practice. I do get referrals from local Private Wealth Managers to do taxes for their clients but i wont lie, I am jealous that these guys get 1% of AUM. They are literally printing cash for a job that is arguably much easier and less stressful than have to deal with taxes and the constant changes to the tax code etc. Plus they are making WAY more money than most rax professionals. Most small CPA firm owners make $250k to $400k. The RIA i work with is easily pulling over $800k in net profits a year. Potentially over $1M.
I really want to launch an RIA eventually. What is the best way to do it? Did you hire someone experienced to build it with you? Did you buy a smaller practice and roll it up?
Although the trifold is a great device there are some issues i have with it:
It is HEAVY. I have an s26 ultra and i think the trifold is like 50% heavier. I do use my phone one handed a lot for scrolling and quick interactions throughout the day. The trifold is not comfortable for these uses. I dont open it up more than maybe 2x a day but typically I have my tablet near me anyway so I dont really need to open it. The device is also very thick especially with a case. This does get annoying especially if you want to whip out your phone for quick interactions or take a photo or video of your kids etc.
When open the device is large. This is a pro and a con. There are times when having the huge inside display is useful and times when i wish i had the smaller fold 7 display. If I am just texting the fold 7 display is perfect size. The trifold feels too big when open for this. The trifold is great if you use two apps side by side often or watch a lot of shows but for me, the cons outweigh the pros.
Cameras are ok but not great. I am betting the fold 8 ultra will have slightly better camera system and processing with the better SOC.
Longevity - two hinges means 2 possible breaking points. Also worried samsung wont really support repairs for long and if you need a repair it could take a while. Samsung cares plus on fold 8 ultra gets me a next business day replacement and swap if I have any issues.
I expect the fold 8 ultra to have better durability improvements but this is just conjecture.
No tent mode or half fold use. I will say I do miss tent mode and also the half open mode that the fold 7 had.
Overall the trifold is ok but its not perfect all the time. I feel like the fold 8 ultra is the better device for most people honestly. My biggest issue with trifold is weight and size. You dont always need a large 10 inch tablet in your pocket. I would argue for what most people use its phone for it is too heavy and 10 inch display too large.
Been thinking of going back to the bifold. The 8 ultra will have better cameras. The newer chip offers better camera performance too. Its easier to hold one handed when open or closed.
I also like that i can get 1tb storage. Plus better warranty support. Samsung cares plus will next business day send a replacement device if you have issues. Good luck getting service on the trifold.
I have a barely used switch 1 OLED. Just the normal white one. Should i sell or keep it as a collector? Probably only get like $200 for it on ebay after fees.
I dont really need it since my switch 2 plays all my switch 1 games.
I own both phones. I like both for different reasons. The ultra is just peak slab. Very light to hold. Display is incredible. Cameras are amazing. I just hate that its hard to multitask or get any real work done on it.
The trifold is amazing for consuming content and getting real work done.
Which phone should I put my main Sim card in? Trifold or the s26 ultra? I usually switch back and forth. Keep sim in my ultra in summer months since I go to the beach sometimes (I dont take my trifold to the beach or i leave it in my car). I could use the s26 ultra as a camera basically too and leave sim in my trifold.
Just bought my rog ally x. Had a steam deck years ago. Should I install steam os on it or use windows? What are the pros and cons of each?
I know performance is the same. I just love OLED displays. The oled on the x20 looks amazing.
Cost will suck but I can sell the glasses on ebay to lessen the cost.
Thoughts?