Discussion:Bad Business Rep for Me

I spent some time with a client that found me via a school board posting (father of a student I guess). Gave me a box of paper to reconcile (literally 1 file box, a paper bag, and a bunch of folders with statements). After an hour or so, called him to come back and pick up his stuff and his deposit.

What I found was:

1) Small Restaurant Business / Take out - Delivery. 2) 0 Employees, full family ran and wants to give them 1099. 3) 90+% of income are generated from credit card orders. Problem that I see there is that cash receipts are from orders of 5.95 +/- 5.00. Judging from the Invoice/Order Receipts, I can say a big portion of it is missing (assuming owner taking the $20 orders/cash out). Also, Invoice numbering is way off.

I called him and asked him nicely that he should bring in the missing receipts for reconciliations. Advised him that none of his "contractors" will pass the test and he should be prepared for employment tax penalties. After 10 minutes of him reaming at me over the phone, I told him to come get his "****".

Last words from client: "I am going to a more competent accountant for book keeping and taxes." "You will never get any business from me or my friends!"

T_T What a was of 2 Hours!!!!!

Pegoo Sorry guys need to vent somewhere.

Mother/Father living in a Gov't Assisted Housing (Projects) Son(s) - 19-23(age) owning / living in a 3 family house generating income?

From my eyes, OUTRIGHT FRAUD TO THE PEOPLE THAT PAY TAXES!!!!!

I did some volunteer tax prep last week (sure bring your whole family's tax work) on a good heart. I ended up charging $40 per pop for each the son's return. I can't believe they tried to talk me into doing it for free T_T.

Seven or eight years ago, a client and dear friend sent me a luncheonette owner near City Hall in Philly. He had sold his business after ten years, or actually it had been bought by Redevelopment. His accountant of those years, a CPA, had disappeared before the seller ever got the return. Their relationship was one of Jocko giving CPA a check to cover quarterly taxes: Sales, Payroll etc and accountant would 'file' the forms. From what I could see nothing had ever been filed, except perhaps the 1040s until that year. I sent him to the DA and the state licensing agency and found him someone more simpatico with the luncheonette business. This is 'NOT' meant as a rant against CPAs but rather an illustration of cash businesses and the people they attract.