Mac Graham

Here to learn! CPA, SMB, RE.

[Mac Graham @MacGraham17]

@Love2Travel SurePrep and TaxCaddy have been an absolute dumpster fire this year. We are sending daily support requests for broken binders, broken TC forms, buttons just not working. Super frustrating. I haven’t run into the cap gains issue, but good to know about something else to monitor.

[Mac Graham @MacGraham17]

@SMB_Attorney @smblawgroup Would love to see it!

[Mac Graham @MacGraham17]

Hey #taxtwitter! Do any of you have a good resource for AAR steps for a partnership that needs to change a 2020 return (for ERC) that did not elect out of BBA? I am getting lost in the weeds and the conclusions I am reaching seem overly punitive for calculating the tax.

[Mac Graham @MacGraham17]

@kylejohnsoncpa @MikeSyl36625988 @tonynovak @ignitionapp Kyle, how do you structure flexibility into the early proposals in ignition such that if a client starts a business or buys a rental you haven’t committed to a low price before you have all the info?

[Mac Graham @MacGraham17]

@LorilynWilson Yes, I received a a question about it last week.

[Mac Graham @MacGraham17]

@Lawyer4Deals Ok, I feel like this might be a dumb question but can you explain how the net working a capital might adjust the purchase price? I keep hearing this said, but I don’t quite understand the mechanics.

[Mac Graham @MacGraham17]

@wifemomcpa100 Interested!

[Mac Graham @MacGraham17]

@SiegelMicha @wifemomcpa100 Interested in the response to this as well

[Mac Graham @MacGraham17]

@HerschbeinCPA ClickUp

[Mac Graham @MacGraham17]

@StudentRentPro You gotta get past that first adjuster. Has a similar thing happen in an apartment building. Almost identical numbers. The first adjuster was only authorized up to 30k so I had to pitch a fit and get a second estimator to go out at the same time as the GC to review the scope.

[Mac Graham @MacGraham17]

@MikeSyl36625988 Our firm is a similar size. We looked at Karbon and found it was too great a change in how each person likes to work. If you aren’t 100% into that workflow then it seemed to break down. We ended up going with ClickUp and have been happy with it. Good luck in your search!

[Mac Graham @MacGraham17]

@PurelyNumbers @clickup We started using ClickUp this tax season. So far so good but I think we are only scratching the surface of what it can do.

[Mac Graham @MacGraham17]

@danchodan We was one this week that appeared to be a 1099. Client submitted it with their tax documents, but it was an advertisement for ERC.

[Mac Graham @MacGraham17]

@Cranky_CPA What is your best tip for onboarding new hires effectively?

[Mac Graham @MacGraham17]

@PriceAvocado Taxes! No need to get into the weeds, but if your scenario has salaries, it could have a simple tax mechanism.

[Mac Graham @MacGraham17]

@wifemomcpa100 Is that something you log manually or how have you used automations to help track all of that?

[Mac Graham @MacGraham17]

@bsuecannon What change are you most excited about?

[Mac Graham @MacGraham17]

@MarcSGilbert Had this happen at one of my properties as well. It also fried the panel inside the unit. Fun times.

[Mac Graham @MacGraham17]

@ChrisHervochon @JWellsCFO @ignitionapp The template won’t update in real-time as you add terms and changes to the service. I think this is intentional actually, but in order to have the terms update you’ll need to delete and readd them after having made the changes to the terms.

[Mac Graham @MacGraham17]

@Love2Travel Weird timing. Just got off the phone with a client requesting the same b/c their FA won’t calc the RMD. Never had to do this in the past.