Would an uninterruptible power supply and ash pans for my pp130 be considered okay to include in install/parts for sake of 30% tax write off?
What can I write off on my taxes
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Beware of all tax advice from the internet!
Beware of all tax advice from the internet!
EbS-P
Minister of Fire
I’d say ask your accountant but our account made a five figure error last week and it was obvious but they didn’t even blink an eye. Sooooo…. Is that extra $100 worth any potential liability if you were audited those items were deemed inappropriate ? If this was the only grey area in your taxes for the last 10 years go for it.
EbS-P
Minister of Fire
Or they use accounts just as good as ours. “So the whole purchase price of the EV is a credit? Ummm well that’s what the software says. And that didn’t strike you the tax professional as odd?? We’ll call you back next week.”
EbS-P
Minister of Fire
Yep. last week. Tax return that was submitted had an underpayment of 5 figures.
EbS-P
Minister of Fire
I legally if they knew they made a mistake maybe. You have some rights in that they willfully didn’t do their job.
If they just messed up you are liable to the IRS not them. It’s all on you as you signed the return.
My CPA will free represent you with the IRS if they goofed. I don’t know what exactly that means/entails. They’re not making up the difference owed.
They are careful though. We changed bookkeepers and they asked us to file extensions so they could look over everything submitted. Personally I think they were backlogged and needed more time, but I’m not going to argue. I didn’t like cutting checks for estimated taxes due when I’m pretty sure that they estimated high, but I’m not going to whine too much.
They are careful though. We changed bookkeepers and they asked us to file extensions so they could look over everything submitted. Personally I think they were backlogged and needed more time, but I’m not going to argue. I didn’t like cutting checks for estimated taxes due when I’m pretty sure that they estimated high, but I’m not going to whine too much.
better high than low. Eons ago had an electro/mechanical adding machine. If you ran a stack of numbers it would add a 0 to the left of the decimal point randomly. IRS got quite upset that year( it was in their favor) had to go to their office with machine to prove my case. not fun.
A 45/70 ,500gr corrected that unit permanently. After that fiasco I just ponied up for accountant office. This year took my papers to accountant, 14th of April hadn't heard anything. Called and asked, guess they mislaid it . Asked for them to file extension, Haven't heard on that either. Hmmmmmmm......
A 45/70 ,500gr corrected that unit permanently. After that fiasco I just ponied up for accountant office. This year took my papers to accountant, 14th of April hadn't heard anything. Called and asked, guess they mislaid it . Asked for them to file extension, Haven't heard on that either. Hmmmmmmm......
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