James Upton III, EA
@uptonaccounting
Followers
3,039
Following
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Media
191
Statuses
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Accountant, psychologist to my clients. EA, MAcc, AgTax & Clergy niches. Firm owner since ‘03. Laugh often, life is too short, enjoy it! #TaxTwitter
Seagrove, NC
Joined October 2012
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@Theholisticpsyc
This is something no one talks about. Ex-spouses, former best friends, estranged family: all of these are the people we grieve and never really have closure with. They live and yet the connection is dead and we long for it but it’s not healthy. So much cognitive dissonance!
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@NeurologistMom
When I was 25 my doctor told me I would be dead by 35 because I was obese. Instead of it being the wake up call he thought it would be I decided well I’m going to die anyway so why stress. When I lived through 35 I started turning my life around. Still a work in progress but
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Can I just say Accountants are not good right now. That is all.
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I did a thing today. Now that we have 30 months to pass CPA exam, I applied to take it. I decided I have no hobbies so why not take my free time and pass the CPA.
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@Theholisticpsyc
So much truth in this. Children of these parents (like myself) grow up to be major people pleasers and struggle to even know themselves. I was never allowed to have hobbies or interests, and now I struggle with doing anything other than work because that was the expectation and
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I feel like most accountants are 4am wake up people who want to be at work by 6-7. I hate mornings and my ideal work time is 10-7. I’m
Honestly thinking of changing my firm hours to 10a-7p and just ignoring the complainers who want me to be available from 7am everyday.
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I feel like a failure today. I honestly have too much to do. I cannot do it all. Im eating the elephant one bite at a time but the last 18 months have done me in. I feel like I’m letting my clients down because I cannot meet their long held expectations anymore. So tired…..😑
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I won’t haggle over my fees anymore. I tell anyone who questions me that I’m too old to haggle over fees, all I have to sell is time, there is less of it each day and it’s value goes up. If you don’t understand that and are unsatisfied with our fees please feel free to seek
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@TheDrugMoney
Charge late fees and be firm if they don’t pay go to the eviction steps. It’s like everyone else in life if you don’t maintain a boundary people will come at you constantly.
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Tip for working with accountants: Yes tax season was extended, no we didn’t get all our work done, no we haven’t been on a great vacation, no we are not all rested up. We are still physically, mentally and literally exhausted. Get a grip folks!
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Literally no one is giving us a breather at all. This is the norm now. In the past we usually had the last two weeks of April to regroup. Now not even one day. People expect instant reactions and responses even when you set the expectations. Cut list getting longer today!
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Dealing with depression is hard enough but when you have it during tax season it’s a real peach. Just have to fight through this next week. So much to do.
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Done!
Completed 876-1040s & 120 entity returns. Extensions filed 273-1040 and 57 entities.
I’m tired but blessed, it’s been a good season! We did it!
#TaxTwitter
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I’m not a warm and fuzzy tax guy. PNC comes in for review, has IRS issues (CP2000) due to Cancelled Debt. PNC wants to claim insolvency. I’m shown the 2022 returns with $6k in div/int, I immediately said you are not insolvent, you’ve just chosen not to pay your debts. Lady says
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#NewProfilePic
Professional headshot for the win. Will be good for promotional material or my funeral leaflet, it’s a tossup this tax season!
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I’m really doing this again, at 44. Tell me which exam you would take first. AUD, FAR, REG or TCP. REG and TCP will be the easiest for me, I think FAR and AUD will be a toss-up.
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Getting to the end of a week and having no one one to celebrate it with is the reason I hate Friday night. I always hit a low about 7pm on Friday, it will pass overnight. At least I have completed 10 returns this week.
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#Taxpropocalypse
Largest firm in my area sent every 1040 only client notice they would no longer serve them. Some are Sch C, E, & F but have no entity. The firm has focused solely on entity work and related 1040s, due to lack of staffing and “industry changes”.
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I feel like
@QuickBooks
is increasing their rates every 90 days lately. We can’t keep up with what we are being charged.
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I’m going to say this. X should be a place
#TaxTwitter
can be raw, and honest. Telling people to quit whining or to change careers is just disgusting. We are here to support each other. If you are just here to brag or condescend and not support, encourage or help, then at least
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Finally received my EA renewal today! Good til 2027. This year makes 18 years as an Enrolled Agent!
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Client just told me if I didn’t like people riding my back I had picked the wrong profession. Public accounting if you are client facing is one of the hardest jobs around. You start out behind, not enough time, didn’t bill enough and no respect because all you do is push papers.
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For the love of all that is holy please quit texting notices/letters/info to your accountant! Texts are for quick one word responses to things like- Hey I’m running late, Or I need to cancel today. Not- I got an IRS notice that says I owe $6500 and here it is, what’s wrong!?!? 😡
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First Saturday not in the office, I honestly feel like tax season is over for the first time since 2019. Slept late and already took a nap! 😁
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Yeah I won’t administer your payroll for 7 employees for $15 a month. 🤦🏻♂️🤮🤦🏻♂️
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It’s been over 2 years since I was able to do this but I just had 5 penalty abatements handled by phone in one call. Maybe a small light at the end of the IRS tunnel.
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Three clients are selling their businesses and two called today to let me know they were closing up shop. Slowly remembering what 2008/2009 was like.
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A client actually suggested to me yesterday that I might need to put off my planned vacation since they would be closing on the sale of their business while I am gone. I just point blank said thanks but I’m not that important, as long as you are there the sale will go fine. They
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I can’t say this enough. If you know people struggling with paying for routine dental health for children please help them. When I was growing up my parents went through a very tough financial time and I didn’t go to the dentist from age 8-17. When I was 21 I went on my own and
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Nothing makes you feel more like an accountant than cleaning up a years worth of QBO and then entering that clean trial balance into the tax software to produce a perfectly balanced return. The only thing better is knowing the invoice will be over $15,000 and if the client balks
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I continue dealing with her because of my dad and the fact that he is unable to do it and I know he wants her cared for. I’m just venting here, my own parents are not difficult at all so I have no idea how to deal with her other than to have firm boundaries. 4/4
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Young grasshopper here at work says “why do we need all these work papers? We should be able to just enter directly into the books/tax program etc. right?”. I explain that the work papers are the way we tie our thought process and the method to the madness back to the books from
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Literally no one has an operating agreement for their LLC. When I tell clients I cannot form an LLC for them and recommend they contact an attorney they most always go online and do it themselves and say well I did it no big deal. But they never have an operating agreement and in
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Sometimes I feel like a failure as a practice owner then I speak with someone who tells me they don’t use portals at all, haven’t heard of Calendly or Tax Dome and thought Ignition was a car part and U realize I am okay and actually making major strides!
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So this is how our season is shaping up. We have completed 215 returns (27 entities the rest 1040). Right now I have 114 in process. We will complete close to 1000 total returns by 4/15 so we’ve seen 1/3 of our workload so far. The returns will get more difficult from here on out
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Yesterdays email of the day:
Hey I think accrual method will be better for my taxes since my P&L on QBO showed less profit using accrual than cash. Can you redo the taxes on accrual?? We owe like $9k when I put my K-1 into TT so I need this done today!
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It’s 8pm on an early September Saturday night, where is your accountant? At their desk…at their desk of course…😑.
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Client asks for “a detailed invoice” Im an accountant what do I say: 20 years of experience: priceless. Dealing with your hellish in-house bookkeeper $4600. Give me your choices for line items! Im all ears!
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I love my parents and they are a blessing. The stress comes from being an only child and the continual stress of their medical appointments, managing their medications, making sure they have dinner, coordinating caregivers, making sure the caregivers actually work—doing laundry,
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Wow this really sums it up. I’m through worrying for other people. I’m a Type 2 Enneagram (The Helper) and have been steamrolled my entire life by narcissists, takers and people too lazy to look after themselves. My aunt was the firm owner before me and literally asked if
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This is why you go to Appeals. Taxpayer examined and given audit with an $83k balance due. After an appeals conference last week I get the settlement today for $27k. Client should be happy, but they will gripe it’s not zero. I’m claiming a win anyway!
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Does anyone else dread talking to clients some days? I can talk to friends all day long but some days it’s not in me to be smart, intuitive and quick thinking. In other words it’s a Monday! And I have 3 meetings today…
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Telling me how simple your tax return is will get you placed on extension. Let me do my job and make the assessment. You don’t tell the cardiologist it’s just a quick stent it won’t take over 20 minutes for you to jab it in my artery, and then you can get back to golf. Thank ya!
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I’m not overworked because of greed, I’m overworked due to my lack of boundaries and the desire to be helpful, liked and accepted. My greatest fear has been saying no and being rejected, which has led me to a lot of inauthenticity in life. I needed to learn No. I’m still trying.
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When your trial balance is three pages and your gross sales are $200k you have problems.
#dontbesocomplex
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Only thing more complex than a 1065 with 70 partners and 40 special allocations is preparing meds for family. Good thoughts appears my mom was officially diagnosed with dementia yesterday. She cried and was sad because her driving privileges were taken away. Hard knock for her at
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Have you ever had a client whose books felt like a lost cause? Too much to ever straighten out and you never really feel good about it. I have one of those and I’m over it.
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Do you ever get in the mood that you just want to ram work on through. Not sloppily but I’m tired of waiting the time has run out. I have what I have and that’s it, if the client doesn’t care I can’t care more.
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Does anyone else have demanding elderly relatives they are caring for? My estranged cousin was on only child and died in 2020, I had not spoken to my aunt in 7 years. I have now become her defacto caregiver since the day after his death. 1/x
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I’ve worked all day on IRS notices and calls. After the fact services are my biggest time waster. I hate an IRS notice. Why can’t IRS figure out a ROTH distribution isn’t taxable and not issue a CP2000. Why can’t IRS apply Mortgage Credit and Child Credit correctly? Why do I have
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Does anyone have a song that just immediately makes them tear up? Music is so powerful in reaching the inner man. It happened this morning when I heard an old song.
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I lost patience with a 24 year old today. She doesn’t understand that everyone must pay social security and Medicare. I told her to take it up with Franklin Roosevelt, she has no clue who that was. I said Google FICA, and call me back.
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Feeling better today, last week was just a hard one for several reasons. Out TaxTwitter family really does care and shows up to support each other. Now back to another 1040, with an 1120S on the side! 🔥
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@ExcelHumor
I did that! Multiple tabs!! Marriage didn’t last but the spreadsheet was epic!! 🤦🏻♂️🤷🏻♂️😂
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Just saw a tweet that said by 30 you should have life figured out! I’m 42 and I have nothing figured out, I have had plans but I’ve learned life had other plans. The best advice I can give is to always keep pushing, be ready to lose and pivot in all areas: relationships, work,
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20 years ago today I became a firm owner. I suppose I’m at or pats career my halfway point. Lots I wish I could change, I’m so thankful for the way I’ve been blessed. It really has been a roller coaster of ups and downs.
#accountantlife
#20years
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Cooking while at the office is the perk of being an owner and having a kitchen installed in the new office.
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It’s going to be a crappy day. 4 years ago today I was prepping for what I thought was going to be a new life and great things to come. It is what it is. The country song says Lessons learned don’t come cheap and it’s true, and not just financially, things like this break you.
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Only an accountant can appreciate how beautiful this is! When there is nothing fuzzy and everything is in balance, a 1065 can bring joy! Working on the low hanging fruit today!
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IRS incompetence makes us look like fools to our tax clients. If I’ve said I’m sorry one time I’ve said it a ten dozen times. I’m paying penalties to preserve my rep and client relationships. This is unacceptable! Where is
@WaysMeansCmte
we need help here IRS has failed!
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Wouldn’t it be genius if 2848 could be efiled with the original return, instead of having to take extra steps such uploading or faxing? Just a thought.
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Farm depreciation, not the same rules you are accustomed to in general business. Farm buildings generally will never depreciate longer than 20-25 years. Many will qualify as Single Purpose Ag buildings with a 10-15 year life. Many farmers work with integrators who issue contacts
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Sent 1065 return to bank for client. Now banker asking for K1, can they not see that in the 1065 package. Ready to go nuclear on somebody today.
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9/15 share time: I taught accounting for 2 years inside the correctional system. Inmates are great accountants! Because they learn without computers, they use their minds to grasp the concepts. It is a beautiful thing to see the lightbulb go off! 💡
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Due to circumstances I did not foresee (losing a huge piece of my staffing puzzle) I’m working tonight and batch
#1
of 2023 W-2’s and year end payroll reports is complete and submitted. The show has started.
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I have no motivation left this week. Monday is the day we make the final list of what will be completed and what will be extended. It’s been a long tax season.
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I know none of my fellow friends on
#TaxTwitter
have a second tax season so the fact that it’s 6 weeks to 9/16 is no big deal. I’m over here about to take a week off and knowing I have SCorps and 1065s that need love and I have none to give. Hoping I come back with a fresh
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Congress should instruct IRS to streamline penalty waivers by automatically apply FTA to all cases that qualify without tax pros or taxpayers having to call in for 90 minutes or send multiple letters. Some things can be fixed and this is one!!
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So
@JStaatsCPA
is becoming an even bigger star. I have now had 5 people email, text or message me his video on fee increases, who do not follow
#TaxTwitter
and who said this was recommended by someone else. We knew it was pure gold. Thanks man for all you do! 👏🏻👏🏻👏🏻
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Attended a funeral for a friends mom aged 97 today. Seeing people pull off the side of a major highway as the procession passed spoke to me. Respect is free it doesn’t cost anything and we can all share it even in the smallest of ways.
#smalltownlife
#respect
#highway64
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Client text: Is this a good time to get a reviewed financial statement done by Monday? I know it’s not the busy season now. Our banker is getting a little irate.
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Never allow anyone into your business. If you ruin it, ruin it yourself, never let someone else destroy what you have built. This is advice for a lifetime, never let anyone convince you otherwise.
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Does anyone ever look at their workload and it honestly scares you. No one should subject themselves to this. And mine is so much less than it was 10 years ago. More changes coming.
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We have had to register 5 new companies with EFTPS this week. What do you think the chances are of being able to make a payment by phone (due to no PIN) before Tuesday? The fact that we don’t have direct pay for business taxes is insanity.
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Why can we never just say no, no I do t have enough time to do this at any price. No it’s detrimental to my health, no, no, just plain no. 🤷🏻♂️
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Does anyone else have clients with in house bookkeepers who think they are complete rockstars and constantly want to cut you in emails and copy the business owner always trying to make you look bad? This is a great client but the bookkeeper is about to get them fired!
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Just lost two clients because we will no longer file business personal property tax listings. Feeling sick right now but hoping this creates capacity for better clients.
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Client coming in hot looking for a huge loss due to a fire that was completely covered by insurance. About to school them on what a “loss” is. I can’t believe it’s that difficult to understand that if you were made whole there is no deduction.
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I know I’m unusual but my preferred work schedule is 10am-7pm (4 days mostly). What hours do you work? A friend works 5am-2pm, another does 12pm-8pm. Always interested to hear what others do. It’s not a 9-5 world!!
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I’ve been looking at our fees and with cost rising I’m thinking we will need to raise fees a full 20-25% again this year. If that happens I will have raised fees almost 100% since 2018, while profits have stayed static with only a 5-10% increase per year.
#firmowner
#taxtwitter
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1240 tax return organizers sent today, bring on the insanity. Help us all!
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How do you articulate to your clients and contacts that you are off duty for a week and that you will handle their requests when you return. This week has been one of the most intruded upon weeks of vacation I’ve ever taken. Everyone seems shocked that I would be off. It’s one of
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Lakeside pool finished now at the close of summer but it will be great next year.
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@adammarkowitzEA
This happens all day everyday. For every person who cheats IRS there is another taxpayer who has been cheated by IRS because the bureaucracy is too much to fight. During the pandemic this became the norm and it has continued. I have even started paying small notices myself
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Never own anything with other people. Selling my happy place due to a dispute with ex business partner. Lessons learned. Send me travel ideas I need a reason to live today. 🤮
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If
@AICPA
wants to do something meaningful then they would develop CPA credentials that actually mean something. Such as CPA-A for Audit Pros, CPA-T for Tax Pros, CPA-C for Controllers and Industry this would actually help hone skills and show actual proficiency more than the
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Our firm has punted on BOI until now. Here is what we are doing. All LLC/Inc clients will receive a letter in the mail letting them know they will also receive an email with an engagement letter to either accept or decline BOI prep services. Those who accept will be directed to
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@Theholisticpsyc
Wow! So much truth right there! You meet one person and they try to be who you want them to be and then when the mask comes off and you see who you have been and who they are you’ve invested so much time and energy that it’s hard to pull the brakes!
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Another day, another idiot mortgage underwriter. Hey I need the tax return for my LLC…It’s a disregarded entity reported on Sch E. Also what is the deal on this other company named UPE? The underwriter said you had put somebody else’s stuff on my taxes that’s not my
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Screened porch Saturday evenings at home are a luxury I don’t get often!
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I’ve lost interest in my work because I don’t feel like I’m making a difference at all. It’s all drudgery, and even when I’ve done it right it’s still wrong, letters and penalties still coming in. I’m just tired. I feel like I work in a factory where everything has been recalled.
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I know it’s best practice but I hate reviewing tax returns. Just let me do it myself, even if I don’t have enough hours in a day! The back and forth makes staff better but it seems so inefficient sometimes.
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I retired at 25, multimillionaire at 32. Now at age 35 I’m willing to share my three step system with all my subscribers. I will start with a tease here: My ROTH IRA balance at age 18 was only $1.3 million. I started saving. $1500 a month while in preschool. Intrigued? $29mo gets
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