Trying to volunteer for a tax firm in NYC

Hey Gang,

I'm looking for advice on how to bill CRE tenants for RE Estaimates and Recoveries.

We have properties that bill for property taxes in arrears.

So 2025 taxes are biled in two installments in 2026.

It gets confusing because do we bill our tenants' recoveries that moved in the middle of 2026 even though they are technically 2025 taxes but 2026 real estate expenses?

The way we have been billing is if they moved in in 2026, they would not be billed, and now the owners are saying we should be billing based on expenses for the year and not the year it is billed for.

Any advice would be helpful.

TIA

I’ve been a legal S Corp since 2024 (with the IRS). I have an EIN number that’s been used for taxes, etc. I tried opening a business bank account for myself but needed proof- which my accountant didn’t have. Turns out he forgot to register me with the state and immediately did it today.

Does anyone know the implications for this since I’ve been filing for two years at this point? I’m currently seeking a new CPA to take over but have not landed one yet. Just trying to figure things out on my own right now until I land one. I’m terrified that I might get hit with something unexpected because of his mistakes. I thought that’s what we hired accountants for, to avoid this. He’s the one who pushed the s corp on me, and didn’t even handle it properly. 😔

I have an LLC taxed as an S corporation with three members. Two members were bought out for $500K, and their combined book equity was $300K. I recorded the $500K buyout in a “Partner Buyout/Acquisition Equity Account” and cleared the departing members’ equity balances against it, leaving a $200K balance. How should I account for the remaining $200K? Should I leave it in equity, move it to retained earnings, or record it as goodwill and amortize it over time?

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!