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
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