Level 15

"I don't want his tax preparer to make fun of me and say who messed up your books, I bought a tax return from pro connect, and it's doing all the work for me at least this is what I thought"

Ah; no Program does all of the work for us. It's just a tool. We have to understand how this tool can be used. I use this example in my class: I give you a Hammer. You can build a doghouse or a hospital. You need to learn how to build the difference. The hammer is just a hammer.

A good tax preparer will be the best guide for you and work with you. They won't think it's Messed up; they should review with you when something is not put into the right account type, such as what is or is not Expense, so that you learn from them.And working with different tax preparers and CPAs means you will learn different ways to do the same thing; that part is like cooking; every chef is different.

But now you are in between the client and the tax preparer, and you want to learn to do it properly, then you must convey to your client the sensitive issues, such as, "This amount you Spent, we won't be putting it as Expense, because you Invested it and the tax regulations don't allow you to write it off all at once. The rules allow (yada yada yada) and we want to treat it per the regulations that apply."

Working stuck between what the Client wants and what the CPA tells you is Allowed, is why you will earn the big money 🙂

"and patience with me, by the way I'm she not he"

Me, too! And the reference I gave you. You never know, on the internet.

"so you don't really need to worry about stuff from the prior year"

Which means, you don't "put" a loss anywhere. You track the details which will show a loss or gain or whatever the data shows.

"Level Up" is a gaming function, not a real life function.