Can anyone clarify the IRS sectiion 179 deduction for trucks? - Page 3
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  1. #21
    Senior Member cadman's Avatar
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    Quote Originally Posted by dave44 View Post
    Ours was like insurance. It cost more every year. And when my income was falling during the housing crisis his bill was climbing.
    Mine went down after a few years. I made a list every time he asked a question and corrected the errors. Now I send him everything he needs in one manila envelope and he does his thing and emails back the return with a bill. I did not want to deal with the rules regarding basis, depreciation, salary versus distribution, etc. etc.. Well worth the money in my opinion.
    "mini-mart magnate"
    I am just here for my amusement

  2. #22
    Senior Member jcbcpa's Avatar
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    Quote Originally Posted by cadman View Post
    Mine went down after a few years. I made a list every time he asked a question and corrected the errors. Now I send him everything he needs in one manila envelope and he does his thing and emails back the return with a bill. I did not want to deal with the rules regarding basis, depreciation, salary versus distribution, etc. etc.. Well worth the money in my opinion.
    CPA heaven right here. Only sends me what I need, no time spent trying to convince him that he shouldn't do what he was told that he could by his buddies at "The John Deere Place", no time spent trying to make sure that he hasn't posted a loan draw into an income account, no time spent reconciling his checking account to his quickbooks etc, etc, etc. And last but surely not least, no time arguing with him about his bill because once again he heard at "The John Deere Place" that Jeff's bill was only $1,000 and his just wasn't that different than Jeff's.
    The intelligent man finds almost everything ridiculous, the sensible man hardly anything.
    Johann Wolfgang von Goethe

  3. #23
    Senior Member mustang190's Avatar
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    Buy a Peterbilt, add the tags, IFTA stamp, Plates, weight permits, authority fee and other documents and taxes then try and figure out your taxes with your CPA. By the way you ain't even included your trailer(s).
    2013 Pathfinder 22 TE , 150 Yamaha,

  4. #24
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    My accountant in my small business loves my office manager to death. She provides up to date paper work and a perfect file from quick books. We never get asked one question. I just sign and pay what they tell me. Biz tax return $1500, personal $350. Same as the last company I used. My CPA does nothing except sign off on a assistant. Quick Books have reduced their job to nothing. I remember when a business owner dropped off a box of bills and income. Said here you go.

  5. #25
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    Quote Originally Posted by AC Man View Post
    My accountant in my small business loves my office manager to death. She provides up to date paper work and a perfect file from quick books. We never get asked one question. I just sign and pay what they tell me. Biz tax return $1500, personal $350. Same as the last company I used. My CPA does nothing except sign off on a assistant. Quick Books have reduced their job to nothing. I remember when a business owner dropped off a box of bills and income. Said here you go.
    Yep. QuickBooks makes it pretty easy on them.

  6. #26
    Senior Member cadman's Avatar
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    Quote Originally Posted by dave44 View Post
    Yep. QuickBooks makes it pretty easy on them.
    Fishing forums where you can ask accounting questions helps too.
    "mini-mart magnate"
    I am just here for my amusement

  7. #27
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    Quote Originally Posted by tunaman View Post
    Messed up? My acct. called me a few yrs ago and said"you can't deduct this, you can't do that" I said, "hey, that P&L tells you where my money went now you dou your job, leave me alone so I can do mine".
    Yeah but the thing is, if you are deducting something that you shouldn't be, and it ever comes back on the CPA, the IRS can and will impose big time penalties on the preparer for negligence.

    Quote Originally Posted by AC Man View Post
    Quick Books have reduced their job to nothing. I remember when a business owner dropped off a box of bills and income. Said here you go.
    I love businesses who have people like your office manager as well. You wouldn't believe how many people still drop off shoeboxes of stuff and say "here..." and then complain about their bill. There are two types of tax returns, in my eyes. People like you who work on it all year - those should be easy, and cheap. Then you have people who only think about in in February and have nothing ready. Those require substantial work(read: time) and cost more.

    No one blinks to pay attorney's fees when they need them, but for some reason people hate paying accounting bills.

  8. #28
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    Quote Originally Posted by cadman View Post
    Fishing forums where you can ask accounting questions helps too.
    It shows that even a fishing forum can have helpful information on other topics.

    And some wanted to shut it down so that it might regain its former glory.

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