I've had to turn down a few potential clients this year because I just don't have the bandwidth to take on another client.

I would love to grow my business, but I probably have 5-10 hours of work a week MAX right now for a potential employee/subcontractor. I have had a subcontractor in the past but as soon as they found a full time job, they took it so I'm back at square one.

Bookkeeping firm business owners -

1 When did you decide to hire / What made you decide?

1. What was the process like for you?

2. Where did you find your person and did they work out?

PS I'm NOT hiring. If you DM me I will block you.

This time of year clients start asking about buying equipment "for the write-off," so here is the checklist I use. Curious how others handle it.

The 2026 numbers (IRS Pub 946 / Topic 704): - Section 179 limit is $2,560,000, phase-out starts at $4,090,000 of qualifying purchases - 100% bonus depreciation is permanent for property acquired and placed in service after Jan 19, 2025 - De minimis safe harbor is still $2,500 per invoice or item if there's no audited financial statement, and the election has to go on the return every year

What I check in the books before Dec 31: 1. Anything over the safe harbor goes to a fixed asset account, not Office Supplies or Repairs 2. Delivery or install date in the memo, with the receipt attached, since placed in service is what counts, not the payment date 3. Financed equipment recorded at full cost with the loan as a liability, so only interest hits expense 4. Deposits on equipment arriving in January sit in a prepaid account until it arrives 5. A written capitalization policy so the books and the return match

How do you all handle clients who expense big purchases all year and then want them capitalized at tax time? Do you reclass in the books or leave it to the preparer?

Hey, I really mean to post this to tax professional page but I know there are other pros here (I can’t seem to post in tax pro page right now) Anyway, I have a new bookkeeping client that has an accounting error for prior year. À large 300k prepaid was fully expensed in prior year. They file as an S-Corp, accrual based.
I know the bookeeping side would be debit prepaid and credit retained earnings but how does this get addressed on the tax return? Is it an M1 adjustment? I have never done an error adjustment. Only prospective estimate changes. (I’m not doing the tax return for this one but curious about it). Thnx