Top five reasons the corporate/partnership tax return was not filed until this week (Sept. 15)
1) Still waiting on other CPA for an outside K1.
2) Still waiting on information from business owner despite multiple calls, emails, and texts to move things along.
3) Still waiting on partner to make a decision on how to handle a specific tax situation. (No additional information has been gathered or changed since March 15)
4) Still trying to figure out how to input state specific information into tax software.
5) Customer calls with new deal information and says, “Do we need to file a tax return for this?”
Hopefully, your summer extension season has gone well and you won’t be caught off guard by too many last minute emergencies. The above list made me laugh but if you haven’t vacationed all summer, next week should be a breeze. If it isn’t, maybe it’s time to consider a different approach to your current business model. What are you waiting for?
Jody Padar, CPA, MST, is the chief executive officer and principal at New Vision CPA Group and the author of The Radical CPA (www.theradicalcpa.com).