r/Accountant

I’m currently looking for a new accountant that is familiar with tax planning. Also, I lost over 100K in what I now know was a Ponzi scheme and apparently there is a way to reduce some of the taxes paid in prior years per the IRS but I would need someone experienced with this to help me. I would love a referral for someone familiar with doing this as well as some minor tax planning for a multi-business owner who is dissolving their businesses.

​

Hi everyone,

I own a virtual bookkeeping business in Ontario that focuses on helping small businesses stay organized and keep their books accurate.

I'm looking to connect with accountants who may be interested in building a professional relationship. My goal is to create a network where we can refer clients when appropriate, collaborate during tax season, and ultimately provide better service to small business owners.

I believe bookkeepers and accountants work best as a team, and I'm always looking to build long-term relationships with professionals who share that mindset.

If you're an accountant (or know one) who's open to connecting, feel free to comment or send me a DM. I'd love to chat and learn more about your practice.

Thanks!

I am wondering if there are any CPA firms out there that would have any interest in splitting the cost of a Tax & Accounting business for sale? I am bookkeeper and those rarely come up for sale, but I see some smaller firms that are close to 50% Bookkeeping/Account and 50% Tax. I don't do taxes, so I thought I would check to see if anyone had any interest.

My lender suggested to get a profit and loss statement made for a shell company but we need the signature from someone who has any of these certifications? Is there anybody here that can do it? Or any suggestions? Thank you

Hi, I am studying for the Audit CPA using Becker. I am in unit A3, and am getting extremely overwhelmed from the readings and videos. I find the videos more hopeful, and I know that study methods vary by person. But, I want to know has anyone ever passed from just watching the lecture videos, taking notes, and hammering the MCQs and TBS without reading all the textbook material??

Every vendor demo is one clean digital simple document sets, without. The real life is a client who phone-photographed a wrinkled W-2 on their kitchen counter, a brokerage statement with 400 transactions, and a K-1 the partnership accountant clearly typed up in Word. What does an actual fair test of this stuff look like? How many returns, what document mix, what success metric before going firm-wide and regretting it in March?

I have a few smaller business clients with high transaction volume. When transactions come through without support, I park them in an expense clearing account and clear them out as receipts, invoices, or other support comes in.

That process works fine when the unsupported transactions are limited and the client later provides support. But I have one client where the unsupported items are mostly smaller transactions that have added up to over $300k across 1,600 transactions over 18 months. In comparison to this client’s revenue, that amount is material. At this point, the majority of those expenses are sitting in clearing because I can’t get this client to provide support.

Our terms and conditions state that the client is responsible for providing documentation like invoices, receipts, and other records. Coming from a corporate background in accounting, my position has always been that narratives can help explain or clarify a transaction, but they should not be the only support for it, especially when the unsupported activity is material in total. Understandably, some transactions may have insufficient or no support and may need to be supplemented with a narrative, but that should be few and far between.

It has also been difficult getting logins and access from this client. If we do eventually get everything we need and don’t have to disengage, there will still be a significant amount of historical cleanup required.

For those who run into this, where do you draw the line?

I’m trying to be practical, but categorizing a material amount of unsupported expenses based mostly on bank descriptions and client narratives is not appropriate support for the accounting records.

Hi I need advice. I manage a nonprofit that averages less than 300k a year, needed an accountants review, hired a CPA, they quoted me 8k for the job but of course with possibilities it could go over, we are 9 months into the job, still no review finished and the bill is at 30k+ and counting. Is this normal? I feel totally screwed and helpless. Do I have any recourse ?

Heyy

A mid sized CA firm looking for CA students who want to pursue Articleship or who want to join as Associates.

Location: Bengaluru and Indore

As the title suggests it, I'm trying to decide if I should stay where I'm currently working or pursue a better opportunity for increased pay and benefits. I work in a small PA firm with about 10 employees in total (including my bosses). I make 54k a year as a staff accountant, about 47k after taxes with no benefits other than 401k and life insurance. There's overtime paid, but that's ONLY during tax season. They're everything I was looking for in a small PA firm. They're all very family oriented, family first and work second type of people. I have two kids, one is special needs and they're flexible with me attending my children's school activities.

I'm currently studying for my CPA exam, my bosses have been very supportive and I get partially reimbursed for all exams fees/materials. My main problem is the lack of pay and benefits. The total raise I've gotten in the last few years I've been here has only been $1.50 and I'm the only one bringing in income. My husband is a SAHD and we decided that he would be the one to stay home with the kids since we need one of us available at all times for the kids, especially our special needs child (the after effects of COVID had a lot to do with this decison as well). We are BARELY making it. We can't afford any insurance aside from dental/vision. We can't afford to go on vacation or even go out on a small road trip, and according to the law, I "make too much" for any assistance. We're literally SURVIVING BY A THREAD.

I have two undergraduate degrees in accounting and finance, three years of experience in PA including governmental accounting. I see others who haven't even graduated college and are earning 75k plus with full benefits. I just feel so much pressure! My husband has tried to help, but it just becomes a MESS with our kids' needs/schedules, especially our special needs child. We don't have ANY outside help, no friends or even family. No one to rely on or ask for help.

I've tried to avoid bigger firms or corporate in general because it's always an unknown with them too. I could have a job today but be out of one by the next day and don't get me started on the corporate politics. I know for a lot of people it's not a hard decision but it really is for me. I don't want to destroy an opportunity of truly growing here. Four employees have been here for 30-plus years, and the rest of us have been here for less than five. One of the partners is to retire in nine years and I've been told that they've been looking for someone like me, an aspiring CPA to take over and help the other partner run things when the other partner leaves. I want to stay, but I don't know how I can keep living like this much longer. For all the hell and hardship we have gone through, I know WE deserve so much more. I just don't know what to do.

EDIT: I also want to add that all this has been causing so many mental health issues for me. I work hard and always have since I was a kid (I used to go to work with my parents and help them out). I come in every day even on the days my kids have school activities; I go back to work afterward. I do my work and even ask for more when I feel like it's not enough. I go out of my way to help anyone, and I'm always ready to learn more. My parents always told me, "If you're going to do a job, make sure you do it well. If you're not, then don't bother doing it at all. "

CAs and finance professionals:

Think about the last tax audit you worked on.

- What went wrong?

- What took longer than expected?

- What required the most follow-ups?

- Where did you spend most of your time?

- What do you wish someone had automated for you?

I'm trying to understand whether the biggest challenge is:

- collecting data,

- chasing people,

- validating numbers,

- reconciling mismatches,

- preparing documentation,

or something else entirely.

Would love to hear real experiences.

[supprimé]

Accountant here needing AP,AR & Cashflow solution
Was going to get Dext but then saw this

https://www.reddit.com/r/Accounting/comments/1opsg95/dext_warning/

What are the main pain points it solves?
Any key issues you find with it?
Can it make AP & AR 2x fast for me?

Learning new systems is a pain for me so thought I'd reach out
The cost isn't bad for us at this point- better than us getting more indian outsourced CPAs

I saw it does the following
All-in-one data capture
E-commerce sanity
Data health for firms 

But I just need AP, AR and some cash flow insights- would it be enough?

Anything better?