Mis-Misunderstandings on Taxes

Friction between tax clients and tax accountants:

Clients provides information at the last minute.

Clients provide incomplete information.

Client bookkeeping is a hot mess, or at least an incomplete mess.

Clients want lots of free advice along with the tax return prep.

Clients have short term focus.

Clients show up with TikTok and social media tax planning schemes.

Clients are like "my neighbor Joe pays less tax than I do."

Clients ignore or underpay quarterly estimates.

If you are the client look in the mirror. Are you guilty of the above?

Unexpected and Unusual Disasters

 A bridge over an interstate started "shedding concrete."

That is, concrete chunks were falling on the interstate. The overpass bridge had to be closed. No vibrations allowed. 

Out of the blue.

The bridge was closed. Suddenly there was a six mile work around to get to several housing and business areas. 

Really hard on the business and employees.

AI Creating Phony Invoices

 Latest scam?

Phony invoice scams are nothing new.

But......

Phony invoices generated by AI are like a plaque of locusts, lots and fast moving.

Also, email request for payment with bank links are lurking out there.

Business owners must tighten internal controls.

Professional firms must warn their clients AND tighten internal controls.