Jeff Lawson

CPA, father, husband, son, golfer, runner...

[Jeff Lawson @jmlcpa]

@AccountingAsArt Or the LLC you knew about added members during the year and is no longer a disregarded entity…

[Jeff Lawson @jmlcpa]

@5sweetharts_ How did Outback respond when you contacted them to confirm the veracity of this ad before posting it?

[Jeff Lawson @jmlcpa]

@FortWayneCPA This is right up there with new clients, or existing clients who inform you of new entities, that didn’t make an s corp election with the IRS because they “formed as an S corp with the Secretary of State”…

[Jeff Lawson @jmlcpa]

#ravensflock

[Jeff Lawson @jmlcpa]

@BuffCpa @justinmilleresq You also need part of your hands or legs in the photo. Bonus points for a finger covering up half the image.

[Jeff Lawson @jmlcpa]

@MikeSyl36625988 That’s one of the main reasons I got out of public after 20+ years. One busy season was bearable but the second one was just too much. Especially since the public persona is that there’s only one.

[Jeff Lawson @jmlcpa]

@jejordan67 @MikeSyl36625988 I’ve had this thought for years. Except I believe that the cap should be lifted, or significantly raised, but with a lower rate. 6.2% is significant for someone in the 12% tax bracket. Even worse for a self employed person paying 12.4%.

[Jeff Lawson @jmlcpa]

@MikeSyl36625988 @GernerEa I agree. When I was in practice I had lots of high net worth clients (ranging from $40 million to $1+ billion) and never saw this occur. The only exception was for debt financed distributions in real estate JVs. But they weren’t done for tax purposes.

[Jeff Lawson @jmlcpa]

@nobletaxhelp Check the regs but I believe there is some sort of proration of the exclusion when one spouse doesn’t meet both the ownership and use tests.

[Jeff Lawson @jmlcpa]

@grannystomp @M4LNorco @5sweetharts_ Agreed!

[Jeff Lawson @jmlcpa]

@MikeSyl36625988 I had a client who had sold her schedule C business in the prior year. As usual, they requested the past few years of tax returns. But the sad part is that they started asking a bunch of questions about the business as if the business would have any bearing on her ability to pay.

[Jeff Lawson @jmlcpa]

@MikeSyl36625988 Perhaps it’s different state by state but I’m not aware of LLCs having a distinction of GP vs. LP. The only distinction I see in LLCs is managing member vs. member. And even then the ownership is the same. “Managing” refers to the role of that member.

[Jeff Lawson @jmlcpa]

#ravensflock

[Mike Sylvester, CPA @FortWayneCPA]

This is a PSA for cheap skate public accounting firms and this is coming from a CPA firm owner.

We are a 9 person firm. We pay for any CPA review course our staff wants. We pay application fee. We pay to sit for exam. We provide mentoring. We do same thing for EA exam.

No conditions, do not have to work for us for specific time frame, none of that really stupid crap. You never have to pay us back, because that is stupid.

When you become a CPA or an EA you get an automatic, immediate, raise in addition to all other raises in our firm.

Every time I hear about a firm doing less than we do, it pisses me off. Yes, I just heard about another much bigger firm in Fort Wayne with a bunch of stupid conditions. Good grief, the partners in that firm make more than twice what I do! Help your damn staff! Share! Do not be so damned cheap! Something is wrong with you!

We have a pipeline problem. Do your part!

Rant done. I think...

Mary was i too nice? @AccountingAsArt please be proud of me for not using your favorite word starting with the letter "f."

#taxtwitter #cpa #ea

[Jeff Lawson @jmlcpa]

@BrookeELierman I have one on my desk at home and at work. Couldn’t live without it LOL

[Jeff Lawson @jmlcpa]

@KeithMills1090 Wasn’t it in 1983?

[Jeff Lawson @jmlcpa]

@JSS98Rock

[Jeff Lawson @jmlcpa]

@KhNyMd @DanCoxEsq I’m quite sure. I’m just not in the MAGA camp.

[Jeff Lawson @jmlcpa]

@KhNyMd @DanCoxEsq Except I’m not a democrat 🤷‍♂️