User talk:Suomalainen

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search
Leave a message for Suomalainen


This page is where you can leave a message for Suomalainen. Suomalainen will be notified of messages the next time they access TaxAlmanac.

Please make sure to sign your message by adding four tildes: ~~~~ at the end of your message.

If you are actually Suomalainen, this is your page. Feel free to edit your discussion page to add or remove anything you'd like.

Leave a message for Suomalainen by clicking here

Wow Dave, thanks for the message. I can tell you are a fellow Engineer by your level of detail...also what I would expect from a GE guy...I have actually worked with GE quite a bit through two employers...When I was with Ecowater in Minnesota we did quite a bit of business with GE...we manufactured water softeners and branded them for a variety of customers...Kenmore, GE, Whirlpool....I was layed off from there in 2006 and then landed at my present job with Invensys Controls....we also sell products to GE....I work on water valves that go into dishwashers and washing machines...one that we sell to GE is a dryer valve for the steam feature...we also do a variety of cooking controls....If you have ever worked in the appliance group you might be familiar with some of our products.

Anyway, your plan looks to be really sound. In terms of myself, I am in the process of having a website built. My business will be called NetTax Now and the website will be www.nettaxnow.com. The name is somewhat of a play on Netflix. The business model is somewhat similar in that I am going to be somewhat of a remote tax preparer for my clients. The client can choose to send me their documents by mail, fax, or download at the website.

For some folks this seems on here I think they are not too keen on the concept, but many on here already operate in this manner. I have a number of family members whose taxes I do every year, and since we don't live very close it is easier for them to drop the docs in the mail to me and then I handle the rest. I am going to pretty much automate the process for my clients as much as possible so they don't have to be too concerned with the details. That's my job.

I am focusing on people who are somewhat net savvy and not afraid to do things online. A lot of my initial marketing will happen on my facebook page since I know that those folks are part of that net savvy group and they all know me. I am also going to push for referrals, and I am offering $10 to the existing client and a $10 discount to the referred client.

Since I am doing this as a side business and maintaining my full time job, I am not going after small business clients at all. If I come across a simple Schedule C case I will take it as long as the bookkeeping is pretty clean, but anything too involved from a business taxation standpoint would probably take me too long to complete in a quality manner. I will pursue this in the future when I am confident that I can provide high quality service.

In terms of education and trade organizations I plan to join either NATP or NAEA. Right now studying for the EA exam is kicking my but so I haven't really had time to look into these too intently.

In terms of credentials I think the EA will serve me well because all I am really interested in is taxation. For me the CPA licensure process looks like a real pain in the butt. If I ever decide to do this full time then maybe I will consider it at that point, but right now I am pretty content. For folks like yourself essentially rebooting a new career I think the CPA makes a lot of sense. You get a lot of mileage out of that credential. Even folks in my family who I have mentioned that I am that I am getting the EA to, come back to me and say "so you are getting your CPA license right?". Nobody really knows about the EA outside of the industry, but I figure I can add that behind my name along with the MBA and I will get a little bang for my buck.

Also I want the networking opportunities and the CPE, which is really why I wanted the designation.


I do have an old 2002 copy of Quickbooks, and I will go ahead and set it up for running my business this upcoming tax season. Right now I just have my business account set up in Quicken with my personal accounts to track my current expenses. This works out well for me, and since I am a sole proprietor at the moment it kinda makes sense to do it this way, but eventually I will either incorporate or organize the business as an LLC. I havn't decided on that one yet.

In terms of software I am planning on using Proseries as well. In the past I used Taxwise and it was ok, but nothing to rave about. I checked it out along with ATX and Proseries and it was too expensive, and not much has changed since I last used it in 2003. Also the fact that I have like 7 years worth of my family members tax returns on my computer in turbotax and I can import that data right into Proseries since it is all Intuit software is a big plus. It will save me the time of retyping all of the personal information that I just transfer from TurboTax from year to year.

Not only that but for $480 for the Basic 50 package you can't beat the price. I called them last week to find out how they would handle an upgrade during the tax season to the unlimited product which costs $750, and they said that basically they would refund me the $480 for the Basic 50 product and then sell me the unlimited product, so essentially I only pay the difference. I thought that was pretty cool because if I do more than 50 returns it doesn't take long for the pay-per-return fees to add up to a point where you would have been better off just getting hte unlimited product. This takes a lot of the uncertainty out of the equation for me.

Thanks again for the message, and keep in touch. I am taking part 2 of the EA exam on Saturday, so I have some studying to do.

BTax2010 20:37, 23 September 2010 (CDT)

Is northwestern Illinois close enough? Back in '66 I think it was... Or was it '67...?

"I guess you have to live in Wisconsin." Better guess again.

However, I have been to Wisconsin twice in my life. The only part I remember is that I wasn't allowed to drive home either time.

Harry Boscoe

Personal tools