Seth Covalt

CPA specializing in solving ag taxation and accounting issues.

[Seth Covalt @sjcvlt]

@NickHorob @PerformanceBeef For cow-calf...

[Seth Covalt @sjcvlt]

@NickHorob @PerformanceBeef

[Seth Covalt @sjcvlt]

@CaptainCons

[Seth Covalt @sjcvlt]

@blakealbers I am with the majority of others. Sure you can get some great steaks and cook them right at home, but sides, service, and a maybe a higher end bourbon list than at home make it worth it.

[Seth Covalt @sjcvlt]

@seattle_tax @LisaTSimpsonCPA @AICPA Same here. Seems like the email I usually notice on town hall is the "Sorry you missed the AICPA Town Hall". Always good content, but I have struggled to get it blocked off.

[Seth Covalt @sjcvlt]

@wifemomcpa100 Try to get as many as possible set up ACH when the PY return is filed. If adjustments are needed, amount is provided to client.

[Seth Covalt @sjcvlt]

@LoganGrafTax Now that Intuit has all of the pertinent information, they probably will market TT directly to the client next year.

[Seth Covalt @sjcvlt]

@IAmClintMurphy I will take March if you take February.

[Seth Covalt @sjcvlt]

@ChrisCullan1 Seems to me like held for resale might be best.

[Seth Covalt @sjcvlt]

@LorilynWilson The @thomsonreuters Gear Up seminars have some pretty good entry level tax training.

[Seth Covalt @sjcvlt]

@TGorcz I like a more robust reference-type text. Obviously can't all be covered in detail durong the CPE presentation, but nice to have a resource referencing source material, etc. for further research into specific issues.

[Seth Covalt @sjcvlt]

@ChrisCullan1 🤣New or used?

[Seth Covalt @sjcvlt]

@katyesterday High. We have a local firm that charges $150 to forward return and depreciation schedule. Not the way I handle it, but to be fair the transmittal letter from prior year did warn retain this copy, future requests will be incur a fee.

[Seth Covalt @sjcvlt]

@mountainwesttax Wow. Depending on how titled/secured somebody is in a very bad position.

[Seth Covalt @sjcvlt]

@JStaatsCPA Revenue is a major issue. As a remote firm with low rates, there should be opportunity to do monthly work/year end on a sub basis for established firms to generate $ near term while building their own base. Also should probably reduce/eliminate staff to fit the work volume.

[Seth Covalt @sjcvlt]

@MelissaJoyCFP Depends on other details/cash needs/future plans. A balancing act to use lower brackets annually. If tax rate increase is imminent, make a total distribution. On the other hand have also historically seen good results taking all now (in down market) paying tax, and inves net $.

[Kenzie Johnston @kenziej89]

Smokin’ hot sale today in Valentine 🔥

[FS Tax Service Inc. @FSTaxServiceInc]

U.S. Senate Democrats aim to close tax loophole on 'pass-through' firms - sources | Reuters https://t.co/l9RnrflPyH

[Seth Covalt @sjcvlt]

@Eligabiff The additional information requests we have seen so far were initiated by SBA through the lender.