(Sorry for the mostly off-topic request.)
I have a small software tools and consulting business - a few employees and very simple accounting needs. I have been steadily getting the feeling my current accountant is somewhat ineffective. They seem to make simple things complicated, and often take very conservative positions where I feel a lot is left on the table in terms of deductions. We do our own AR and AP in house and we have separate payroll and benefits companies, so my need is basically just for year end tax.
Here's the motorsports tie - when I suggested that I would like to explore ways to deduct some of my racing costs, they basically said it wasn't reasonable. Since then I have encountered other club level racers who are also business owners in a similar position to mine where they claimed much of their racing costs are deducted.
So if you or someone you know has an accounting resource you like I would love to hear about it.
Please suggest a new accountant for my small business
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- Speed Setter
- Posts: 113
- Joined: Tue Feb 07, 2006 3:04 pm
- Location: Wrentham, MA
- breakaway500
- Speed Racer
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- Joined: Wed Aug 29, 2007 8:47 am
- Location: In my shop,usually.
Re: Please suggest a new accountant for my small business
You can try and tie most any expense to a business..however it will be up to you to prove the actual expense is reasonable,to an IRS auditor. Tying in a set of racing tires and a weekend track rental to a software tools business may be,in their eyes,,,beyond reasonable. I'm not saying it ain't possible... Some accountants won't risk the scrutiny. Deducting track expenses for me is much easier..as I run an auto repair/sales/speed/body shop. My accountant sleeps well.. (she is not taking on new clients,though..)
It's not what you drive, it's how you drive. "Lap times matter"
Re: Please suggest a new accountant for my small business
I use Ken Plumb CPA in Methuen, MA for my personal and business taxes and am very happy with him. His phone # is 978-687-6330
Jeff Wasilko
On the Track: 1995 Miata #08
To the Track: 2007 Volvo 780
On the Street: 2017 Volvo V60 Polestar
On the Track: 1995 Miata #08
To the Track: 2007 Volvo 780
On the Street: 2017 Volvo V60 Polestar
Re: Please suggest a new accountant for my small business
I work with John Schachter. He specializes in working with creative and software companies. Great guy, very knowledgeable.
http://www.johnschachter.com/
http://www.johnschachter.com/
Re: Please suggest a new accountant for my small business
Scheid & Company (978) 318-9600 101 Commonwealth Ave, Concord, MA.
Bill Scheid has for 15+ years reviewed/audited the books and tax filings for my former employer who has inhouse AR/AP and outsourced payroll and benefits, I can vouch for his ability to work with all sorts of people
Maybe call a few places and get a feel for their expertise and approach to classifying expenses and deductions.
Bill Scheid has for 15+ years reviewed/audited the books and tax filings for my former employer who has inhouse AR/AP and outsourced payroll and benefits, I can vouch for his ability to work with all sorts of people
Maybe call a few places and get a feel for their expertise and approach to classifying expenses and deductions.
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