My S corp was dissolved in feburary 2026. I did all the state filings, and the 941 back in March. My CPA retired and at the end they told me I just need to file 1120S towards the end of the year (this year).

And now I'm super confused because apparently I already missed the deadline for it??? I mean did I?? Is this something I need to do it ASAP or was my CPA right??

I owe the irs and every ad I see makes it sound like you can settle for a fraction of what you owe but when I look at the acceptance rates most OIC applications get denied, I talked to a couple of resolution firms and they all say they can help but I cant figure out if this is realistic or if I am just going to pay an investigation fee and get told I need a payment plan anyway, anyone here advise clients on this stuff

Hi guys!

I’m asking accountants and CPA’s a few questions about your experience as I’m an aspiring accountant myself. Is anyone willing to answer the following questions? Also it would be great if you could provide a name and email so my school can confirm and send a thank you note. Thank you all so much!

Questions -

What was your career journey like? What made you decide to become a CPA or an accountant?

What does a typical day look like for you as an accountant?

Which is more important to have a successful accounting career; being a Certified Public Accountant or having an accounting master’s degree?

What are some of the biggest challenges you face as an accountant?

First post in this sub. I have a home business. For 2025 the revenues were fairly modest, I did not take any home office deductions or anything on my return. In 2026 things have escalated quite a bit.

For 2026 I think I need to upgrade the electrical panels and circuitry for my house. Lets assume its $10,000 or so.

I am going to consult a CPA eventually but I'm trying to find my bearings on how this would be treated. Does it adjust my cost basis of my home? Can I expense it and then not increase the basis? What provisions should I be looking at?

Assume that the electrical upgrades and now 1 room and 1/3 of the garage are 100% used for business at this point, and the breaker upgrades will absolutely be for business use only.

We are a single member LLC tax as an S Corp as of 01/01/2026. Last year we were taxed as a sole proprietorship. The owner of the company has a personal PayPal card that he used for company expenses last year while we were being taxed as a sole proprietorship. However, there are also charges on there that are not company expenses. He has also been paying this card out of his personal account even up until now but the company will takeover going forward. We want to transfer everything into the company, and we should’ve done it sooner.

What is the proper way to record this? I worry if I do it as a credit card, then payments, past payments, and interest could get tricky to calculate because I would have to remove any personal expenses. Am I overthinking it?

Side note: I graduated college last year and somehow landed as the CFO of a mfg company doing a mill a year. Any resources into more complex Quickbooks topics like this would be greatly appreciated.

Does anyone have any templates / basic guides for creating an excel reconciliation? Any feedback or suggestions would be great!

Our insurance company just outsourced customer service and some billing support to an overseas team. They're going to formally start in a month, and it's up to me to help with all things billing/AR/policy changes. Just curious how you guys approach reconciliation, especially when the frontline data entry isn't in-house. 

Hey friends, like the title says I want to start a jewelry making business and want to do everything right legally and to give myself all the benefits possible.
I’m estimating around $3,000-5,000 costs before I can actually start making anything. And probably while after that before I’ll be able to sell anything.
What are my steps? Do I have to get a business license and bank account before doing any purchases?
Is there a book I can read or should I go talk to someone?
And would it even be worth it to be worried about tax write offs with that small of an investment?

I’m truly as green as they come in this department, what do you think?

I currently have something setup like this:

Vendors/Acme/2026/2026-10-20 Acme 1001 99.00.pdf

and if it’s a refund, I use (99.00).

However, sometimes I’ll get an invoice followed by a receipt for some vendors whom I have a card on file with. Since the receipt is for that invoice, it shows the invoice number, causing a duplicate file issue.

Should I use the authorization number for the receipt instead? The downside is I lose the ability to match via file naming but not sure how much that matters.

I can’t always prefix with INV- because some invoices start with in_ or INV_ already and I script it to use the actual invoice number when filing. And when human staff get involved, I don’t want to make file naming super complicated

Curious to know how you handle situations like this?

Hi all, I live in Northern Virginia and am having hard time finding someone to help out with my small tech business, at this point I’m just going to go with whoever unless someone can point me to the right direction on where to find a few different options. Is there a good database or something like that?

Kevin

Hi everyone,

Hope everyone is doing well! I'm a Chartered Accountant based in Hyderabad, India. I'm also USCPA (FAR) qualified, with prior experience at KPMG across multiple practice areas. If you or your network are looking to outsource US accounting, I'd be happy to help.

Why outsource to India:

- Significant cost savings compared to hiring in-house in the US

- No overhead of salaries, benefits, office space or software setup

- Flexible support that scales as your business grows

More time for you to focus on running and growing your business

How we work with clients:

- Proper internal controls, with checks and review at every stage

- Strict data privacy and confidentiality of your financial information

-Clear, regular reporting so you always know where you stand

Tools and services:

-Well versed in Xero and QuickBooks

If you'd like to explore this, please message me directly. Happy to have a quick call.

Thank you!

I've see a number of health care organizations that are divided into non profits and for profit companies. Kaiser as an example - the insurance company and the hospital are non profit and the company that employs the doctors is for profit. Can someone explain to me why they would do this? It seems somehow wrong but I don't understand how.