All Forum Posts by: Chinmay J.

Thanks for good answer..

I pay very close attention to detail. So I didn't miss any form that was asked of me. Also they had last year's returns. So they knew exactly what the situation was. 

I would let others weigh in on if $685 is a premium or not, especially when you factor in two big mistakes that could have been avoided with attention to detail. 

Sure Outback is not the priciest Steak House, but it certainly ain't Mickey D's either. How would you like a hair in your steak? Sure it's not Morton's or Ruth's Chris.. 

I would never have thought of asking that question of how long it takes.. The answer would most likely be a canned answer stating "Most people get refund within 3 weeks, but depending on situation it might take longer", which is not false BTW. 

Why I chose the firm ? - Why do you think ? -- To get my taxes done and get ongoing tax advice. 

How ? - The person had good reviews online and overall good reputation in the community. The problem is, however, the CPA herself never worked on my return and let her assistant do the work. Once I signed the dotted line, her attitude completely changed from being warm and welcoming to distant, cold and uninterested. I guess she was more focused on getting the next client signed.. 

As far as due diligence. I think it's overrated.. Ever heard of marriage, old man? Ever heard of divorce? People change at the drop of a hat.. 

Also, I would never sign up with someone from 1000 miles away. I want someone who is local whom I can meet face to face and get to know them. I do most of my business that way. 

You have a good day now.. Take your meds.  Thanks for wasting the bandwidth. 

I called IRS. They do not have any live support at the moment due to pandemic. I never had this issue, when I did taxes myself. Always used Turbo Tax. Couple of CPAs I sent my tax return to for review praised that I had done them very well. I understand default, but that's different from something being hard coded in the software.   Defaults can be changed to another value, you just have to be careful. Once the taxes are filed and accepted, it's too late. 

My beef is not with $685. It's with the fact that the lady who did the work was not even a CPA, and the owner of the firm (The CPA) didn't care for my account. 

So I get my taxes filed by CPA for the first time in my life, and paid a premium fee of $685.  Things went smoothly for the most part, other than couple of MAJOR issues which I cannot afford to overlook.  I am detailing one of them in this post. Since the other one is irrelevant to this post, I will keep it outside of this post. 

When my CPA sent me the final documents I noticed that the debit date for Virginia Taxes is 5/1/2020. The very last date allowed by law (not withstanding this corona virus crisis we are currently in). I am not the kind of person who waits until the last day for doing anything. I am not a procrastinator and very proud of it !

So while I am now waiting for my VA taxes to get debited from my account, I noticed my IRS refund is delayed.. Is the Federal Govt waiting on VA to inform them to release my refund? My taxes were filed and accepted on/around 3/16.

When I go to IRS website, I get the following message.

Your tax return is still being processed.

A refund date will be provided when available.

When inquired, I was told that this is a default, which is a bunch of bull***t, and they did not have other option. I did not argue with the CPA's assistant, who did the filing, and majority of the work, but its unfathomable that software would be written in such fashion as to only permit the date of withdrawal to be the last possible date allowed by law, before penalties kick in and interest start accumulating. 

I later discovered that in the past, I had been able to file my own taxes using Turbo Tax and pay both IRS and VA Tax Authority well before 4/15. I think with a bit of training, I could do a lot better job working for CPA than some of these clowns..

DM me, and provide your email address.. I can ask my broker. He has contacts with several lenders.. I am in VA too and so are all my properties.

Being able to distinguish between what I know, and what I think I know. 

Stay local for a first few. As others have suggested LV is a great market, and really being hit by Coronavirus due to the nature of the industry. I believe some good deals will come in Vegas soon...

I love your enthusiasm. Tells me how smart kids are today. I would have never been able to conceptualize at 16. 

Personally, I think that at such a young age, you should strongly consider working for an investor who can coach you through work assignments. This will teach you basics of real estate investments and different aspects of it, and give you much needed experience. 

You are young... LEARN ! LEARN !! LEARN !!!

Good Luck kid...

I love your posts.. I have sent you a message through the contact vendor link on your profile.  I hope you are able to get back to me.. 

Really not a very good question, unless of course it's meant to be a trick question. 

First of all I would never advise any investor anything close to that.. What is fast? Who decides? Fast for one might not be quick enough for the next one... What do you mean invest in real estate? Flipping? Buy and Hold? Notes? Lending? Realtor?  RE Attorney? Title Company? Brokerage? A million different ways to skin that cat..  Whom am I advising? Broke kid with holes in shoes, or some kid with a rich daddy who can give a seed money of $100K, and won't even notice it in his bank balance..