[pianotech] Quick Quickbooks Question

[Duaine Hechler]

Well, sorry to disappoint you, Wim, however, this man is always on top
of the latest - or was - he has retired now and - 4 - of his sons have
taken over the business - each one having his own specialty.

That is how he knew how to, legally, get around all the self-employed
loop holes - like the % of utilities instead of "office space"

Before he would start a new tax year, he got updates on all his software
and attend the latest tax seminars, etc.

Duaine

On 02/27/2011 12:12 PM, tnrwim at aol.com wrote:
>
>     My advice came from a "career" tax man - about 50 years in the business.
>
> Just like some piano tuners, just because your tax man has been in the
> business for 50 years, doesn't mean he knows all the rules and
> regulations. In fact. a lot of times they know less than the newer
> accountant, because these old guys think they know everything, and
> fail to read all the new codes, etc.
>  
> My son, a very successful CPA, has seen first hand, how some of these
> old timers are so out of touch with the new tax codes, that he has
> been able to saved some of his clients thousands of dollars in taxes
> after he re-did the return.
>  
> WIm
>  
> -----Original Message-----
> From: Duaine Hechler <dahechler at att.net <mailto:dahechler at att.net>>
> To: pianotech <pianotech at ptg.org <mailto:pianotech at ptg.org>>
> Sent: Sat, Feb 26, 2011 8:22 am
> Subject: Re: [pianotech] Quick Quickbooks Question
>
> On 02/25/2011 02:58 PM, Mr. Mac's wrote:
> >> On Thu, Feb 24, 2011 at 5:50 PM, Duaine Hechler <dahechler at att.net <mailto:dahechler at att.net>> wrote:
> >>
> >> …  by my tax man, said not to worry
> >> about inventory and mark it as supplies or COGS. …
> >>     
> >
> > Point of information:
> > For those who might not know, be leery of someone else's tax person's advice.
> >
> > There's more to keeping track of inventory than bellows cloth and bridle 
> straps.
> >    which are basically consumable supplies.
> >
> > There is a distinct difference between consumable supplies and larger ticket 
> items.
> >
> > Keith
> >
> > Keith McGavern, RPT
> > http://www.ptg.org/chapters/oklahoma/
> > http://pianostuff.kamcam.com/
> >   
>
> My advice came from a "career" tax man - about 50 years in the business.
>
> Agreed, about your difference - however, he still said just to write it
> off and forget about depreciation.
>
> Duaine
>
> -- 
> Duaine Hechler
> Piano, Player Piano, Pump Organ
> Tuning, Servicing & Rebuilding
> Reed Organ Society Member
> Florissant, MO 63034
> (314) 838-5587
> dahechler at att.net <mailto:dahechler at att.net>
> www.hechlerpianoandorgan.com <http://www.hechlerpianoandorgan.com/>
> --
> Home & Business user of Linux - 11 years
>
>


-- 
Duaine Hechler
Piano, Player Piano, Pump Organ
Tuning, Servicing & Rebuilding
Reed Organ Society Member
Florissant, MO 63034
(314) 838-5587
dahechler at att.net
www.hechlerpianoandorgan.com
--
Home & Business user of Linux - 11 years