Derek Foote, CPA

Doin' tax stuff. Tweets often likely to be sarcastic.

[Derek Foote, CPA @WTFoote]

Friendly reminder as we head into 10/16, #TaxTwitter:

Refusing to rescue someone from their own consequences is not the same as inflicting those consequences on them.

[Derek Foote, CPA @WTFoote]

@tryjasononline There's another guy on Discord already doing that for us, thankfully. 🤣

[Derek Foote, CPA @WTFoote]

@tryjasononline I'm serious! I think it's Axcess Tax Essentials or something like that. What don't I know? 😅

[Derek Foote, CPA @WTFoote]

@LoganGrafTax I'm having a similar issue with my first come (with all docs), first serve, queue system. It's being largely taken up by clients without brokerage statements.

I've fudged my rule a little for clients that were otherwise on it, and just missing a broker 1099.

[Derek Foote, CPA @WTFoote]

@JStaatsCPA Bold of you to assume there's an IT partner! 🙃

But generally it's that fuzzy line of "know enough to know if I need to ask someone smarter than me, or do a lot of research."

[Derek Foote, CPA @WTFoote]

@JStaatsCPA Like most things, it's about time. Commit the time or commit the resources for help.

I setup my PM by myself from scratch, but that was my ONLY task for about two weeks. That exclusive dedication is the only thing that made it feasible.

[Derek Foote, CPA @WTFoote]

@BlakeTOliver A lot of people could probably even due for a view of nature out a window.

[Derek Foote, CPA @WTFoote]

This little countdown is going to give me a lot of joy this tax season.

It started at 100. Every update will feel like the workload is getting smaller (while the prep queue just gets longer 😬).

Coping with tax season is a lot of metal gymnastics. 🙃

[Derek Foote, CPA @WTFoote]

@LoganGrafTax @JStaatsCPA Yes, but really the problem is my very low threshold for annoyance lol.

Realistically it's ok. A few complete orgs with a "waiting on docs" note.

But the way I built my process, the org "completion" sends it to prelim review, to reserve their queue spot or I send a list back.

[Derek Foote, CPA @WTFoote]

Me: I don't need premade bespoke client lists like @JStaatsCPA says... my client list is small... I won't have to use that many... most get me everything at once anyway...

Also me, burning time sending out all of three said lists today, after receiving "completed" organizers:

[Brenda Cannon, CPA @bsuecannon]

Keeping it real.

We sent a disengagement letter, and refund check for work we haven’t done, to a client who, after 18 months, still hasn’t given us bank feed permission. After we mailed letter (but I’m pretty sure before she opened it), she emailed us and disengaged. The feeling was mutual. That’s okay. Our fees are based on the ability to use bank feeds.

Another client, yesterday, emailed Randy “this new scheduling process is beyond annoying”. Okay Larry. You’re welcome to move on. This is how we operate.

So, having a really high retention rate might not be a great thing. Does it mean we make exceptions for every client? I’ve always been proud of a high retention rate, but now I’m wondering if that’s the reason we got ourselves in the pickle we were in. 🤔

[Derek Foote, CPA @WTFoote]

@TheTaxNomad They want indulgent tax deductions, not smart financial planning.

[Derek Foote, CPA @WTFoote]

@bhallcpa Can't wait to find out how many lattes she's chugging on 12/31.

[Derek Foote, CPA @WTFoote]

@IraGilligan I love that they decided to make it pink.

[Derek Foote, CPA @WTFoote]

@cordes_tax For a hot second I thought this was an IRS notice based on the formatting.

[Derek Foote, CPA @WTFoote]

@RoamstheRange Shows the slow change of progress. I was working under this in 2008-2011, and it's how some firms still operate.

[Derek Foote, CPA @WTFoote]

Just as a friendly reminder to all the professional staff, the expectation for overtime begins this week and everyone should be in the office on Saturdays from at least 9-3.

The weekly charge hour minimum goal is 55 hours.

[Derek Foote, CPA @WTFoote]

@JStaatsCPA @BrentForbush Big corps consolidating innovative software for our industry.

[Derek Foote, CPA @WTFoote]

@tom_ealey @DennisSherrin Same. It's the necessary buy in for a more relaxed off season (in theory).

But now you hear more and more "extended busy season" which is just awful.