Chris Willis, CPA

CPA helping business owners build durable wealth.
I write about capital, risk, and long-term thinking.
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[Chris Willis, CPA @CPA2Solutions]

@TexasRepublic71 @TexasPatriot07 Yup, just down the road from me. The Middleton family are class acts! Top shelf. They will always get my vote

[Chris Willis, CPA @CPA2Solutions]

@ArthurJSpring Price them away.

[Chris Willis, CPA @CPA2Solutions]

@Ryanmariebach78 Quick question

[Chris Willis, CPA @CPA2Solutions]

@ArthurJSpring Slowly bring your clients to first class experience and slowly bring your fee to the same level. The plane goes to the same place.... get the people who want to sit in first class! Ignore the rest

[Chris Willis, CPA @CPA2Solutions]

Anything you voluntarily place under government control and rules regarding future distribution should have clear and abundant tax savings. Otherwise, pay the tax now and maintain control over when you can take distributions or when you must take distributions or rub the crystal ball and tell me what tax rates will exist in the future and after that tell me what tax bracket a successful person will be at in the future.... most tax deferred vehicles are overrated.

[Chris Willis, CPA @CPA2Solutions]

@elonmusk Depends if you are trying to rehabilitate or just hanging an albatross around someones neck hoping they can self rehabilitate after serving their time. At some point they have to assimilate ..... labeling them for life will not accomplish that.

[Chris Willis, CPA @CPA2Solutions]

@JoshYoungblood Cutting funding to an organization that still prefers you to fax info...? Sounds like a great way to force an archaic organization into the 21st cebtury.

[Chris Willis, CPA @CPA2Solutions]

@yoyo101010 By design.

[Chris Willis, CPA @CPA2Solutions]

@CrownCPA Yep, actively moving all clients from any intuit product

[Chris Willis, CPA @CPA2Solutions]

@BTDsaysFDT Haha... not just at last minute, but now they want to "discuss" aka read the documents to you, like you cant read. 🤪

[Chris Willis, CPA @CPA2Solutions]

@AccountingAsArt Got one of those this year. Sent message in portal " how about the real numbers" .... got a response, "what do you mean?" My reply... " I'm not risking my license or integrity on your rounded to the dollar approximations"

[Chris Willis, CPA @CPA2Solutions]

@CalebLJenkins In all of the cases I've seen they are exempt. Technically they should never be paid the half portion of the time and a half so they're technically is no premium component of their pay. I do about 200 crop farmers and ranchers a year.

[Chris Willis, CPA @CPA2Solutions]

I am in this exact boat. I just cant fire those legacy clients who are kind people. The difficult ones get the axe. I suppose its the loyalty in me when they were paying my bills 30 years ago when i had nothing. Not a scanner, nor a portal. Each year those clients become fewer and fewer but still a hassle. I maintain an office building with 10 offices and inly 1 office filled. Just for these walk ins. I'm thinking of "classes" or hands on instruction this off season and next tax season only accepting in office on one or two days a week.

[Chris Willis, CPA @CPA2Solutions]

@nickmeals Engineer or pilot

[Chris Willis, CPA @CPA2Solutions]

@nobletaxhelp I dont accept engineers as clients. 34 years of experience dealing with never ending questions and having to teach accounting and tax law to them.

[Chris Willis, CPA @CPA2Solutions]

@Budgetdog_ Preach! Ive been screaming this for years.

[Chris Willis, CPA @CPA2Solutions]

@theficouple You are missing when the annual holding costs of that asset approach or exceed the market appreciation of that asset.

[Chris Willis, CPA @CPA2Solutions]

@robbiehendricks If those are you goals in life great. If your goal is to build wealth, the Ramsey way is not the most effective.

[Chris Willis, CPA @CPA2Solutions]

All the more reason I preach do not automatically max IRA's to my clients. Sounds like his was a rollover IRA so probably couldnt do anything about it but those who can really need to plan for this "potential" tax deferral benefit. I am seeing more and more people in much higher tax brackets at retirement than when employed with maybe a spouse still alive, itemized deductions perhaps, business planning ability, etc etc....Not to mention once you play the IRS game, you have to play by their rules. Im not an automatic max out your IRA kind of person.

[Chris Willis, CPA @CPA2Solutions]

@Dani_Bbrn Im confused... easily done this time of year.😳 If the taxpayer died in 2024, who created 2025 vouchers with his name anywhere on them?