Alicyn McLeod @AtlantaTax Twitter profile

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Alicyn McLeod

@AtlantaTax

2 years

Being an accountant is 90% information requests and 10% explaining why that's not the information you requested.

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Alicyn McLeod

@AtlantaTax

1 year

Being an accountant is 10% Excel and 90% carrying someone else's mental load.

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Alicyn McLeod

@AtlantaTax

2 years

Being an accountant is 90% working through your backlog + 10% other things which include stressing about not working through your backlog.

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Alicyn McLeod

@AtlantaTax

2 years

Me: The accounting industry is full of systemic issues. Folks who stay in long-term are often overworked, unhappy, or one-off success stories that don't represent the majority. Accounting industry: Have you tried therapy? Or maybe a pedicure? And here are our top 6 Excel tips.

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Alicyn McLeod

@AtlantaTax

2 years

Being an accountant is 90% knowing esoteric, nonsensical rules and 10% explaining why they don't apply.

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Alicyn McLeod

@AtlantaTax

2 years

If we keep wearing our yoga pants and sneakers long enough, folks will forget accountants ever wore suits.

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Alicyn McLeod

@AtlantaTax

2 years

"Bad spreadsheets create strong accountants. Strong accountants create good spreadsheets. Good spreadsheets create weak accountants. Weak accountants create bad spreadsheets." -Abraham Lincoln

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Alicyn McLeod

@AtlantaTax

2 years

To everyone I wronged the last few months:

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Alicyn McLeod

@AtlantaTax

2 years

Client: where is my refund? Me:

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

2 years

Being a tax professional is 90% saying next tax season will be better and 10% saying next tax season will be better.

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Alicyn McLeod

@AtlantaTax

2 years

Partners making promises to clients before asking staff

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Alicyn McLeod

@AtlantaTax

2 years

I don't know who needs to hear this, but my pay in Atlanta as a 2nd year tax staff was $55K. In 2005.

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Alicyn McLeod

@AtlantaTax

2 years

Are you even an accountant if you don't use increased productivity to take on more work?

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Alicyn McLeod

@AtlantaTax

3 months

This may shock you, but Opening Balance Equity is not a real account.

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Alicyn McLeod

@AtlantaTax

3 years

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Alicyn McLeod

@AtlantaTax

1 year

Will that next degree, certification, license really help you? Or might working through your imposter syndrome help you more?

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Alicyn McLeod

@AtlantaTax

1 year

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Alicyn McLeod

@AtlantaTax

2 years

My love language is a tied down balance sheet

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Alicyn McLeod

@AtlantaTax

2 years

Lovin' the merch ⁦ @TheBig4Tweets ⁩

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Alicyn McLeod

@AtlantaTax

3 months

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Alicyn McLeod

@AtlantaTax

3 years

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Alicyn McLeod

@AtlantaTax

11 months

Small announcement to all my twitter friends which is also an answer to “why have I not seen her around here much lately?” My amazing colleague @em1beachgirl and I have launched a new firm. Which - as you may know or imagine - is quite a time-intensive thing to do.

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Alicyn McLeod

@AtlantaTax

2 years

The news: Wells Fargo in trouble yet again TikTok: They should've had an LLC

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Alicyn McLeod

@AtlantaTax

5 years

Just received an email that starts "quick question". And, you guessed it, research is necessary. 🤷🏻‍♀️

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Alicyn McLeod

@AtlantaTax

2 years

Ah tax day. The day when Americans choose their political affiliation based on whether they under or over withheld from their paychecks.

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Alicyn McLeod

@AtlantaTax

2 years

Client: I'm not good at math. That's what you're for. Also client: Your fee went up 12.45% over last year.

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Alicyn McLeod

@AtlantaTax

2 years

Another day, another W2 client who wants an LLC for tax savings

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Alicyn McLeod

@AtlantaTax

11 months

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Alicyn McLeod

@AtlantaTax

2 years

Another day, another S Corp that should have been a Schedule C.

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Alicyn McLeod

@AtlantaTax

2 years

Is there a podcast that focuses on mental health for those in professional services such as accountants, attorneys, and similar? #taxtwitter #fintwit

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Alicyn McLeod

@AtlantaTax

2 years

As always, lovin' the merch @TheBig4Tweets

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Alicyn McLeod

@AtlantaTax

1 year

Client left an excited voicemail today. IRS approved my penalty abatement request & sent them a check for the $6K they'd already paid. I'll be keeping that VM for awhile... #praisefolder

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Alicyn McLeod

@AtlantaTax

1 year

Just because something is easy for you to do, doesn't mean it's not valuable to someone else for you to do it. We often forget how much time and effort we put into knowing what we know.

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Alicyn McLeod

@AtlantaTax

2 years

Me finishing my first 1040 on 2/1 while everyone else has been cranking out returns for weeks.

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

1 year

IRS has 3,700 open positions for examining complex tax returns. CPA or 'equivalent' education + 1 yr experience Starting pay $98K

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Alicyn McLeod

@AtlantaTax

4 years

Client: You should have everything! Me: Great! Here's your tax return. Client: Well, what about these other expenses for my Sch C? Me: 🤦🏻‍♀️

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Alicyn McLeod

@AtlantaTax

2 years

🚨BREAKING 🚨 IRS announces all 1099 reporting suspended indefinitely. Move to save countless hours and $$ in shredding costs later.

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Alicyn McLeod

@AtlantaTax

3 years

Receiving a tax refund is not a badge of honor.

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

3 months

Client is trying to convince me luxury purses gifted to employees are tax deductible because they are conversation starters with potential customers. Please send help or wine.

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Alicyn McLeod

@AtlantaTax

3 years

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Alicyn McLeod

@AtlantaTax

1 year

Clients:

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Alicyn McLeod

@AtlantaTax

1 year

As a tax advisor who has moved into financial planning, my view of this service is seen through the lens of a tax & accounting professional. Fellow tax & accounting pros: would you be interested in me sharing my observations and experiences? Any questions you'd like answered?

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Alicyn McLeod

@AtlantaTax

3 years

Attacking my fees will not make me lower them

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Alicyn McLeod

@AtlantaTax

4 months

When you argue with randos online and have to make good on your "don't make me come over there" threats.

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Alicyn McLeod

@AtlantaTax

2 years

I am creating a taxbot to help a business determine if S Corp status is an optimal tax structure. So far all it knows is "no". I may stop here.

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Alicyn McLeod

@AtlantaTax

2 years

Dear tax friends, Password protecting your client's 1040 with their SSN is not the flex you think it is. XOXO A

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Alicyn McLeod

@AtlantaTax

2 years

I sent you that already

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Alicyn McLeod

@AtlantaTax

2 months

There is a special place in hell for tax pros who file unneeded S elections on behalf of trusting and uneducated clients. You know who you are.

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Alicyn McLeod

@AtlantaTax

2 years

#fintwit A tough-love 🧵on why CPAs aren’t referring you business:

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Alicyn McLeod

@AtlantaTax

3 years

I worry about my clients who exhibit a lack of basic internet skills. They proudly proclaim "I'm old school". Dude you were the age I am now when the internet took off and said "nah, hard pass". And then stood by that decision every day for 20+ yrs. Any way to help these folks?

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Alicyn McLeod

@AtlantaTax

3 years

Dear tax software providers, MAKE. IT. EASIER. TO. FILE. EXTENSIONS. xoxo, A

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Alicyn McLeod

@AtlantaTax

3 years

A #tbt treat for my #TaxTwitter friends. A lovely client sent this to me and said I could share. She discovered it among her uncle's belongings after he passed away last year. He was ~18 years old when he completed this 1040A by hand.

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Alicyn McLeod

@AtlantaTax

11 months

Being an accountant is 10% being praised for being the adult in the room and 90% wishing you weren't the only one.

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Alicyn McLeod

@AtlantaTax

1 year

Am not sure why 5,000 people and bots follow me, but I'm super grateful.❤️ I haven't been on twitter much recently. I have burnt my business model to the ground and am coaxing a phoenix from the ashes. It's...time consuming.

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Alicyn McLeod

@AtlantaTax

4 years

PSA: There is no one-size-fits-all tax structure for a business. If someone who knows nothing about your business says you "need an S Corp", look elsewhere for advice.

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Alicyn McLeod

@AtlantaTax

4 months

IRS notice is excluding federal withholding on a client's 1040 with reason "Form(s) W-2 or other supporting documents were not attached to your tax return." 1. It was efiled 2. It's on the client's transcript. What am I missing?

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Alicyn McLeod

@AtlantaTax

1 month

Today we formally disengaged from a client who ✅ Is in our niche ✅ Is delightful to interact with ✅ We've helped a lot in a short time Because they wouldn't pay our fee. Live & learn, we've made adjustments to not have this situation repeat. But this was still a tough one.

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Alicyn McLeod

@AtlantaTax

1 year

I don't know when "tax refund" morphed into "tax return" but we are currently in the "I started a business" becoming "I started an LLC" era and I absolutely. Cannot. Stand it. #taxtwitter #okayboomer

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Alicyn McLeod

@AtlantaTax

3 years

If taxpayers paid as much attention to their tax liabilities as they do to their balances due/refunds in April, there would be blood in the streets.

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

3 years

Pro tip: When chatting with a prospective client and you notice a particularly significant capital loss carryforward, consider NOT blurting out "Whoa! What happened there?!" This is especially true if they are married.

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Alicyn McLeod

@AtlantaTax

3 years

My attorney just googled "what is Circular 230" right in front of me. I am going to prison.

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Alicyn McLeod

@AtlantaTax

1 year

Officially two different people @seattle_tax

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Alicyn McLeod

@AtlantaTax

11 months

From a new client's 2022 1040. Don't Do This #afirmofmyown

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Alicyn McLeod

@AtlantaTax

4 years

PSA - If you pay someone to prepare your tax return, the paid preparer section should not read "self-prepared".

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Alicyn McLeod

@AtlantaTax

2 months

I've said it before, I'll say it again. If you are tax educator providing example situations, now is a great time to let go of "husband & wife" and embrace "spouses".

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Alicyn McLeod

@AtlantaTax

2 years

This hybrid work article features someone who moved from CA to TX and goes back to CA multiple times per month for work. Among the benefits of the move - "his taxes are lower". Who's gonna tell him?

The Math Behind the New Super Commute

Hybrid work is changing the calculus of what it takes to live and work in separate places.

www.wsj.com

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Alicyn McLeod

@AtlantaTax

5 years

Me: Are your books ready for me to start on your tax return? Client: Not yet, but soon. Will let you know. Me: How about now? Client: Nope, just a couple of outstanding transactions. I'll keep you posted. Me: Maybe now? Client: Oh yeah, they were closed weeks ago.

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

3 years

For those with Adobe Acrobat, did you know you can right click on a series of non-pdf files, choose "Combine files in Acrobat" and all will be converted into one pdf doc? #taxtwitter

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Alicyn McLeod

@AtlantaTax

2 years

The client you fired who wants back in? You know the one. Always difficult. Complained about your fees and service. But now begging for you to "take them back". This isn't because you're so awesome. Although you are. This is simply a narcissist seeking supply.

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Alicyn McLeod

@AtlantaTax

2 years

Prospective client: "The person who prepared my taxes for nearly 40 years died and the firm did not notify me. I found out when I called to speak with him. They did not even apologize and acted as if I should have known. It was devastating." 😭😭

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Alicyn McLeod

@AtlantaTax

1 year

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Alicyn McLeod

@AtlantaTax

3 years

IRS letter today says my client's 2020 1040X was processed. Which I guess would be great had I actually filed one.

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Alicyn McLeod

@AtlantaTax

2 years

If you think getting through to the IRS is hard, trying paying a Thomson Reuters invoice.

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Alicyn McLeod

@AtlantaTax

3 years

Congress does its damn best to ensure that every American is caught up in a needlessly complicated tax system and MY industry does it best to help. What planet are you on?

Elizabeth Warren

@ewarren

3 years

The tax prep industry rakes in big profits by lobbying to make it harder to file your taxes. I’ve fought back with a plan to let millions of Americans sign and return a pre-filled tax form and make the IRS create a free online tax prep service.

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Alicyn McLeod

@AtlantaTax

2 years

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Alicyn McLeod

@AtlantaTax

2 years

I asked the other day for podcast show recommendations at the intersection of accounting + mental health. The responses contained lots of great episodes and related ideas but I didn’t find a SHOW that was quite what I was looking for. So, I made one.

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Alicyn McLeod

@AtlantaTax

3 years

Me: "Please provide your Sch C expenses." Client: "They were the same as last year's." :Sigh. It's $200 on $10K of earnings. It's not worth fighting. Whatever.: Client sees tax return: "Oh, I didn't give you the right expenses." Me:

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Alicyn McLeod

@AtlantaTax

1 year

Accounting: a constant state of stress characterized by deadline-driven, quick-turnaround work punctuated by projects allowing for sufficient time to properly overanalyze

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Alicyn McLeod

@AtlantaTax

2 years

Tax Research Resources for New Firm Owners #afirmofmyown A 🧵: 1/x

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Alicyn McLeod

@AtlantaTax

1 year

Hear me out: Vegas hang out called "The Introvert" Drop off the quiet member of your group, pick them up on the way back, everyone wins. Music not louder than your thoughts, color coded cards to show if someone can talk to you, tables 6 ft apart. Who can make this happen?

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Alicyn McLeod

@AtlantaTax

2 years

@T_Gatzemeier While there may be a case in some circumstances at this level, my guess is that this advice is typically outright malpractice. FWIW: Here's what I have to say about S Corps:

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Alicyn McLeod

@AtlantaTax

2 years

Your friendly reminder that taxable income & tax complexity are not necessarily correlated.

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Alicyn McLeod

@AtlantaTax

11 months

Client worked with an ERC company. Received 2 quarters credits/refunds ~$18K. I asked for their calculation proving client was eligible for those periods. Their response "we do not determine whether your company is eligible for the ERC, the IRS does." What am I missing?

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Alicyn McLeod

@AtlantaTax

2 years

the good thing about the IRS not answering the phone anymore is that I can take "call the IRS today" off my to-do list indefinitely

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Alicyn McLeod

@AtlantaTax

2 years

I've started a LinkenIn group "Women Tax Professionals". It's for tax ladies - tax accountants, tax attorneys, etc - to collaborate, share planning ideas, share tax news, ask questions, etc. Hit me up here or on LI if you'd like to join. #taxtwitter

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Alicyn McLeod

@AtlantaTax

2 months

Prospective client: We haven't filed tax returns since 2021, we still owe for 2021 but never requested an installment agreement, we can't get a passport for an upcoming trip. Also prospective client: Our current tax pro never brings us ideas.

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Alicyn McLeod

@AtlantaTax

1 year

Fun in #boulder then see y'all soon! @taxretreat #taxretreat

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Alicyn McLeod

@AtlantaTax

2 years

my to-do list used to be aspirational. now it's just a bed of lies.

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Alicyn McLeod

@AtlantaTax

4 months

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Alicyn McLeod

@AtlantaTax

11 months

It is almost 2024 and I cannot believe I have to say this, but for the love of GOD do not be preparing your tax return BY HAND in PENCIL

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Alicyn McLeod

@AtlantaTax

4 years

I just successfully submitted my first efiled 1040X and now I feel invincible.

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Alicyn McLeod

@AtlantaTax

3 years

Tax Twitter Tax Season Top #10 List Hello #taxtwitter friends! I’ve compiled* my top 10 takeaways from this year’s tax season based on our collective commentary. Here we go! *this list not subject to any actual attest function.

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Alicyn McLeod

@AtlantaTax

2 years

Word choice: A year or so ago, a mentor taught me to consider sometimes replacing "why" with "of course". For example, "WHY is this client asking me about things that I have no idea about that I won't get paid for?" to

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Alicyn McLeod

@AtlantaTax

4 months

QBO classifies its own charge

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