[pianotech] Quick Quickbooks Question

[tnrwim at aol.com]

The post wasn't necessarily directed at your accountant, specifically. I'm sure your accountant is up on all of the latest legal loopholes, like the % of utilities. But then, that's something I knew long before my son became a CPA.

Wim






-----Original Message-----
From: Duaine Hechler <dahechler at att.net>
To: pianotech <pianotech at ptg.org>
Sent: Sun, Feb 27, 2011 8:44 am
Subject: Re: [pianotech] Quick Quickbooks Question


Well, sorry to disappoint you, Wim, however, this man is always on top
f the latest - or was - he has retired now and - 4 - of his sons have
aken over the business - each one having his own specialty.
That is how he knew how to, legally, get around all the self-employed
oop holes - like the % of utilities instead of "office space"
Before he would start a new tax year, he got updates on all his software
nd 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 
dvice.
 >
 > 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



- 
uaine Hechler
iano, Player Piano, Pump Organ
uning, Servicing & Rebuilding
eed Organ Society Member
lorissant, MO 63034
314) 838-5587
ahechler at att.net
ww.hechlerpianoandorgan.com
-
ome & Business user of Linux - 11 years


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