What would you do ?

huh · Oct 14, 2013

with out going into too much detail...I have a dilemma of sorts......I have a decision to make...Do I do what I know is the correct thing..not necessarily the right thing...I mean correct as in a complicated mathematical calculation
that will cost me significantly more money and possibly trigger a very unpleasant experience with the Tax man as in a possible audit for some family members.. or do I go with the other number that puts more in ..my pocket

but I believe is .. calculated wrong...
It's all a role of the dice....
2 professionals have given conflicting numbers..with different explanations...but no skin off their back right???

bro and sis already went for the mo money which makes it even harder for me because if I don't I might trigger something...(unity in numbers)
yet if I do..I might trigger something...in the long run worse for me...
but if nothing is triggered...then I may have well just burned it in a bomb fire in my backyard while they go vacation in Tahiti...so to speak :mad:

and no fair!!!

ugh......

what would you do?

Rukbat · Oct 14, 2013

Nothing until I had some idea of what you're talking about.

shelliewnj · Oct 14, 2013

Whatever kept me asleep at night. My family all knows I will only do what I think is right, not what I can't away with because I can and do lose sleep when I do anything else. Not saying that I'm always right, but I try to do what I think is right. Hope this helps

huh · Oct 14, 2013

protecting my brother and sister...is doing whats right...right?I would do anything for them...and like I said it's a crap shoot....one CPA says one thing...one CPA (who I believe is right) says another....

ugh

sfbloodbrother · Oct 14, 2013

Do the morale thing. If there's a chance of it coming back and biting you, don't do it, unless you are a high roller. But you did say you wern't, so I would not suggest it.

MoodyBlues · Oct 14, 2013

It's hard to say--for sure--what I would do, because I don't know all the actual facts involved in your dilemma.

With that said, and by gleaning as much as I can from your comments, I'm casting my vote for the thing *I* would do: the RIGHT thing. Now, I can't say what that is, because you're the one in the situation, but you should know.

The whole 'unity in numbers' thing smacks of something not-quite-above-board to me. I don't like that.

But how about this? Get a third opinion. If one 'financial expert' says one thing, but another says something else, go for a third and see where that leads. There can, I believe, only be ONE correct answer, assuming they're all dealing with the same facts and figures. That's simple logic.

Here's a quote I like a lot:

Integrity. Doing the right thing even when no one is watching.

huh · Oct 14, 2013

I am going with my gut.....which is gonna cost me

....it's complicated and there probably is no real answer...nobody is trying to scam anybody...it's just when things are BC as in before computer record keeping...you have to make an educated guess (which is allowed by law) of the cost basis....but if you get tagged you have to prove why you took that number...and CPA's are not liable or accountable for the returns.that you pay them to prepare......(Which I think is wrong)

Im gonna have a nice cold beer now....even though I'm not finished
with my stuff

Thanks for the input! It truly helps

sfbloodbrother · Oct 15, 2013

Your welcome.Good luck

Rukbat · Oct 15, 2013

huh said:
it's just when things are BC as in before computer record keeping...you have to make an educated guess (which is allowed by law) of the cost basis....but if you get tagged you have to prove why you took that number

Comparative price records from that time would go a long way toward proving that your "guess" is the right one to use. Depending on the item in question, there are records - old government records, old newspapers, etc.

Bearsyzf · Oct 15, 2013

huh said:
protecting my brother and sister...is doing whats right...right?I would do anything for them...and like I said it's a crap shoot....one CPA says one thing...one CPA (who I believe is right) says another....

ugh

So if you do what your family members are doing and if you do get audited later on down the line , family is what we usually count on but if their in the same situation then they won't be much help to you either ..... i would do what you know is Morally right .

Please don't shoot the messenger :afraid:

huh · Oct 15, 2013

I quite possibly had one of the most stressful yucky days of my life today...I hate taxes...I hate numbers..and I hate people who don't know what they are doing or talking about...

after crunching numbers for about 14 hours..today alone...I did it!!! I came up with the correct formula...I went with it...I stood in line at the post office...I payed my money by certified mail...and then I came home and promptly called my siblings and sent them my calculations with a big giant red highlighted explanation of where they(actually..where their CPA..they both use the same MORON)made a huge stupid mistake!! Then, I politely called him and sent him the same information...to which I get a reply...from all...that....wait for it....I WAS RIGHT!!!!!! HA!

they will amend their returns...no he will amend their returns at no cost and when I am finished with him...he will also be paying any penalties that may arise...It's sad that some highly trained yoohahaha who calls himself a professional missed what I caught(after pouring through everything) was the simplest mistake! It's Criminal really....and it happens all the time I'm sure

lesson of the day

Don't ever assume that just because someone has letters after their name as in CPA or MD or JD attorney at law etc...etc....or whatever...knows what the hell they are doing or has your best interest at heart...ALWAYS ALWAYS be the Captain of your own ship!!!!

Thx everyone!

and carry on....

:smokingsomb:

shelliewnj · Oct 15, 2013

Glad it all worked out in the end. Sorry it was so stressful!

OverByter · Oct 15, 2013

Just remember, just because someone has a professional license they are still human and not infallible, also for everyone who graduated at the top of their class there was someone else that graduated at the bottom. :rolleyes:

OB

MoodyBlues · Oct 15, 2013

Great news, huh! So glad you got it all sorted out.

Hrethgir · Oct 16, 2013

OverByter said:
Just remember, just because someone has a professional license they are still human and not infallible, also for everyone who graduated at the top of their class there was someone else that graduated at the bottom.
OB

Yeah, they guy is human and can make mistakes, don't get all huffy at him! Sure, you caught the mistake, but how many returns do you have to deal with? What, three at the most if you are looking over yours, your brothers and your sisters? I'm guessing the guy who did their returns has quite a few more than that, and he can't spend 14+ hours on each one.

huh · Oct 16, 2013

true...if it was some minor little overlook....but it was something that could have possibly been massive...and after I found the problem..it was a CPA 101 common sense thing...and it's his job!!!!!!

What would you do ?

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