Posts by Timothy Morgan38

Henry Edwards33 said:Why am I being charged interest? I’ve made every single payment on time, and she’s had autopay set up on all my accounts for over two years now.
I personally dropped off the paperwork at her office earlier this year, but honestly, I’m done dealing with this. I’m walking away.

Interest is the magic fix for everything, isn't it? 😂

Here's your little card of betrayal.😍



☕

Henry Edwards33 said:Give me a break. If you want to see my W-2, show me yours first, otherwise I’m not buying it. 🥳

By the way, my tax withholdings are a total mess because of my employer's payroll errors, but honestly, I've stopped trying to fix it. The lady at the IRS office has lost my paperwork more times than I can count. I personally hand-delivered that form to her four different times, and I am officially done playing that game. 😂

Who cares about the hassle? As long as you have your own stamped copy... let them try to explain themselves... though I can only imagine the interest they'll tack on once they finally decide to find that ID form somewhere in the pile😂😂 😂 And there goes my Chase savings account to cover those interest charges...

🤣 🤣 🤣

Henry Edwards33 said:A few people from my crew over at REO Group were asking for proof of everything—official letters stating our filings were on time, confirmation that all debts were settled... honestly, what does it even matter? I couldn't care less.
TGIF!

I'll deal with those thoughts on Monday... actually, scratch that. I'm done thinking about this whole mess.😁

Oh, and $0.00...you really think I'm buying that? :roleyes:

🙂

A tax bill??? Every single one of my accounts is on autopay 😉

But seriously... back in March 2009... $0.00 I ended up owing interest on my mortgage and some extra change on other tax bills just because my transfer hit a day late. I was using online banking, but the payment didn't clear on the same business day, so it processed the next one...

By the time I settled everything, the Chase service fees actually cost me more than the damn bill itself...

Henry Edwards33 said:I honestly don't want to know. Blissful ignorance is the move right now; it’s Friday afternoon and my brain is strictly on beer mode. 😂

Seriously though, I had no idea, and nobody ever mentioned it was a requirement. Besides, payments were always running a little late anyway.
I never ran into any issues, even when I needed to pull a clearance letter from the local Police Department regarding tax debts or proof that everything was settled up with the IRS... Everything looked fine. We’d cover the interest, but we never bothered with the paperwork for the Rhode Island interest filings.

I don't know either; it was never requested... besides, it isn't the Police Department asking for that, it's the REO Group...

And apparently, you have to calculate the interest proportionally per employee... which I have absolutely no idea how to do. What kind of math am I supposed to use to figure out exactly how much interest belongs to which worker? Especially when, in my case, the interest is practically non-existent $0.00 😂 (since I was only one day late on a payment for my entire business)...

IDIOTS!!!!!!!!!!!!

If someone actually wants to ask me about this, fine. I'll just hand them a sheet of paper and a pencil and let *them* calculate the interest per employee...

Henry Edwards33 said:I’ve never actually worked in this field, and nobody has ever asked me to handle this before 🤷

Now I’ve been tasked with matching up some forms. It’s not even a huge workload—just a handful of them—but there's absolutely no mention of interest rates in any of the paperwork.
As far as I can tell, I have no clue how to deal with that, and frankly, I have zero desire to learn. I’m just going to blissfully ignore it. 😍

They’re completely losing it... they expect interest to be "distributed" among employees... thank God you simplified things for the Department of Treasury idiots

because interest isn't government revenue—it belongs to the employee...

Henry Edwards33 said:Not once, and I’m hoping I never have to. 😁

Well, I graduated from that school of thought right at birth, so there's really no point in trying to argue with me. 🙂

Or maybe it's just because I'm a blonde, and apparently, any debate involving one is a lost cause. 🤷

To put it mildly... I have to hand it to the guy.

So, what, nobody on your team has ever been even a single day late with their payroll taxes??? You must have some pretty stellar clients 😂😂😂

From what I can gather, the Social Security Administration and the FBI don't exactly speak the same language. The SSA has no clue how much interest the FBI is tacking on. They just charge based on whatever the standard form says, and you're expected to pay those amounts down to the last cent... anything extra—even if it's just $0.03 interest—is supposed to be filed through the SSA so they actually know where to apply that stray dime... otherwise, that ten cents just sits there, unmatched and lost forever...

I ended up making the spreadsheet myself... the lady told me it wasn't strictly necessary, but if I had one ready, it would make their lives a lot easier... she just said to include those two sentences at the top and they'd handle the bookkeeping themselves (as long as there’s money coming in, they’ll just clear everything chronologically starting from the oldest debt)...

The reason I even bothered with the sheet was because I thought the people at the local service counter could match the payments... since the notice said to head to the nearest branch... but then my colleague over at FedEx told me not to waste my breath showing up in person, because only the folks at the corporate headquarters can actually process this stuff... she just sent over a list of matched and unmatched payments, and that was that...

Took me five minutes to whip the table together, despite all the drama surrounding it... didn't break much of a sweat though, since they aren't exactly going to break a sweat either—they'll just clear the queue until the funds run out...

The only thing I haven't tackled yet is that interest calculation form from the IRS... the lady there suggested it would be best to file that once the entire debt for the Democratic Party is settled, just so they can distinguish between the principal owed to the Democratic Party and the extra interest...

Have you ever actually filed an R-Sm for interest before?

Henry Edwards33 said:That sounds like a massive undertaking. Honestly, I was hoping you’d just hand me two magic sentences and call it a day 😢

But I’ve been grinding through this process more than a few times now.
My clients seem to be under this weirdly specific delusion—they think if they don't wire the exact cents listed on my invoices, their accounts won't be cleared and they'll be stuck with an outstanding balance forever.
I have no idea where they get this idea from. 🙂😬

😂

This amateur doesn't care about anyone else... he actually thought that if he couldn't pay his contributions, he shouldn't bother submitting the R-Sm... but asking an accountant? No way... he just does whatever the guy at the bar tells him and considers it gospel...

Get a load of what he actually submitted: May 2009, absolutely nothing, nothing, nothing, then nothing again until October 2009 through August 2010...

And then, in July 2010, he turns in filings for October, November, December 2008, and then January through September 2009...

Can you believe this clown? 😂

Henry Edwards33 said:I mean, there’s really no point in bragging about it when I haven’t even reached that stage of my career yet 🙄
Sure, if you don't want to say it out loud, at least send a DM—it was only two sentences, after all 😬

Following the instructions from the lady at the central IRS office:

"Please apply the payments made between [date] and [date] in the amount of [amount] to clear the obligations on the RSM forms for [months] of [year]... attached is a breakdown of paid contributions per assessment..."

So, I put together a spreadsheet matching the paid contributions against the unmatched RSMs and sent the whole thing over via fax...

The situation was an absolute train wreck... the RSM filings for the entire last year weren't even turned in until July of this year... hopefully everything is fine now...

Fingers crossed it all goes smoothly...

Anyway, for everyone else, insist that they pay the second column of pension contributions exactly according to the transfer amounts you provide... health insurance and the rest isn't quite as critical and can be settled later... but MO2 absolutely must be paid using the identifiers from the RSM form and the exact amounts listed on the RSM...

Good grief, it’s the tail end of the work week and I just spent 40 MINUTES stuck on hold with the IRS, listening to a recording every five seconds telling me "all operators are currently busy—please stay on the line."😂

I was losing my mind...

But hey, at least I managed to fix an entire year's worth of mismatched and incorrect payment amounts in just two sentences (hopefully)....

Henry Edwards33 said:🤣

But honestly, those are just the aches and pains of getting older, not necessarily from the job itself.😬

Good grief...😍

Henry Edwards33 said:From what I can see, you’re losing a client... Are we celebrating this win, or should we be feeling sorry for you? 😬

The absolute best part of this job is when people say, "Well, what do you actually do all day? You just sit at a computer typing. I could do that myself."

I show those people the door immediately. There’s really no point in trying to explain the complexity of the work to someone who doesn't get it. 😛
Go ahead and try doing it yourselves. Good luck with that. 👋

Neither... I actually suggested he try consolidating everything into one system starting January 1st, telling him I'd step in if things got messy... just so that after a few months, he could handle it all solo... because right now, the sheer volume of paperwork is overwhelming him, especially since there isn't even any "actual paper" sitting on his desk... and honestly, photocopying every single invoice isn't the solution here...

And if you haven't spent your life hunched over a keyboard, don't say a word... sometimes I'd rather swallow glass than deal with filing and bookkeeping...

I mean, when you've been staring at a monitor for five or six hours straight and you can't even focus on the letters anymore... when your head starts spinning, your wrists and joints start aching, and you can barely pull yourself out of your chair without stretching your legs and back first... yeah... once you've actually tried that, then we can talk about "typing."😁

Henry Edwards33 said:I seriously messed up and tried managing inventory twice... Never again, ever. It absolutely drained me, but I guess there's a lesson in everything—even if this one was particularly expensive. Hopefully, I've learned enough to make sure I don't fall into that trap a third time. 😂

I’ve been there a few times myself... I wouldn't say I lost my cool, but I definitely felt the burn when I was drowning in unpaid work... just a massive backlog of tasks that never actually turned into a paycheck. Now, I only manage the inventory for one client, and honestly, he's a dream to work with. He keeps everything organized and doesn't cause any headaches. It’s pretty straightforward because he doesn't sit on stock—everything he pulls from the warehouse gets installed immediately, like a local custom cabinet maker...

A little story from back in the day about getting paid for a job... (if you can't be bothered to read, just skip ahead...)

How do I explain to this guy that an invoice with 200 line items isn't just "one single bill"? It’s one bill plus a massive, hour-long calculation task... assuming at least 70% of the items are recurring and only 30% are new entries I actually have to type in manually... and I'm dealing with 30 to 40 of these monsters every month. Then there's the rest of it—operating expenses, daily cash flow, payroll, sales tax, all the corporate filings... Just to handle his specific business, I’d practically need to hire another full-time employee just to stay on top of the paperwork... which costs money. Real money. To cover all of this, he should be looking at a minimum of $7,000 plus tax per month for my services...

When I finally dropped the number on him, the guy nearly fainted. I should probably mention that I’d been grinding away at this for six months for a measly $3,000 total—including tax—just because he came to me through a "friend of a friend"... So, I had to get blunt with him. I had to snap him out of it. I told him straight up that he needs to clear out his messy inventory system and actually hire a dedicated employee to manage it... It's the only way to do this right...

He hired an assistant for $4,000 gross to handle his bookkeeping and manage warehouse inventory... after just one week, she quit on him... so he goes out and hires a second person at $4,500 gross—talk about a massive raise... then, two weeks later, she’s already demanding at least $6,000... Net income... So, they have to pay overtime if she wants to stay on... then he comes stomping into my office, absolutely livid and red-faced. He starts ranting about how he’s going to fire her immediately, how he's going to call the Department of Labor, blah blah blah... just puffing out his chest like he's some big shot, claiming he could probably find ten other girls to do the job for that same salary, blah blah blah...

I told him he needs to be upfront when interviewing new hires. Honestly? Just lay it all out on the table—tell them exactly what the grind looks like and what the job actually entails. He should mention that nobody leaves the office without putting in at least two or three hours of overtime every single day. Or, better yet, just let this current employee stay and pay her the $6,000 she’s asking for... because there is zero chance he'll find someone willing to take less than that in cash. When he went to file the next round of paperwork, he ended up with a contract amendment in his hand...😂😂😂

Today that girl started working for him, pulling in $12,000 gross... plus he’s got another "warehouse assistant" helping out too... and honestly, she’s so sharp and knows her stuff that she'll probably be running the entire accounting department solo before long...

And if we’re being completely honest here... I’m six months behind schedule... $1000 Let’s talk about a radio that retails for $10,000... Once you strip away the sales tax and the corporate income tax, what we’re actually left with is... $667 Making money without even lifting a finger... $0.33 Between the overhead... once you factor in toner, electricity, paper, and the gas burned just driving around to collect and deliver all this documentation, I’m practically broke... $567 He was talking about that situation where he ended up having to cough up $10,000 out of pocket at the very end...

Honestly, if someone has the nerve to call me cheap... I might just lose it. Seriously...😂

Daniel Castillo12 said:It isn't exactly a disaster..
however, there are certainly gaps in the curriculum that you simply can't learn in a classroom; you have to figure them out through trial and error, which inevitably leads to a different perspective than what the regulators expect..
I've visited several training centers.. they all charge roughly $833 (for context, accounting seminars usually run about $360-$400). Believe me.. it's just taking money from the naive.
They bring in university professors who basically just read aloud from their own textbooks..

You clearly haven't met anyone from my neck of the woods yet😂😂😂

There is zero chance I'm ever going to be responsible for someone else's physical goods or property... just no way... there isn't that kind of money floating around...

Daniel Castillo12 said:Daniel Castillo12, have you heard anything regarding production?

Their business... I wouldn't stake my reputation on it for all the money in the world😉

silverbison293 said:Oh, look at this capitalist over here—thinks his work week wraps up on Thursday 😍

Bravo, truly... I mean, how on earth did you pull that off?

☕

Money talks😂

silverbison293 said:So, where have you been hiding?

I was busy handling some "manly business"—not *that* kind of business—and yet, you’ve completely vanished...😢

Just working...

....if you can even call it that...😂

Blew all four of my accounts to hell after a brutal week...👍

What a party😂😂😂

Henry Edwards33 said:: sipping coffee:

What’s actually wrong with the post? Is it because the quotes aren't blue? So what... you can clearly see they're 🤷

Fix them? Daniel Castillo12, do you really need the quotes in a post to be blue? 😁

She's over here wondering why her quote colors look different, while my damn quotes keep getting deleted... UNFAIR!!!!🙂

Raymond Martinez10 said:Another option? If you need the cash right now, just issue an advance for business expenses. Then, once November 1st hits, pay out the actual dividends or a dividend advance—by then, that emergency tax won't even be an issue. 😕

We’re really just dancing around the same issue here...😉 about how it wouldn't work...

Because let's be real—if some sharp-eyed IRS auditor decides to look closely, they could easily flag that as a disguised dividend. Then you're right back where you started...

Even that bookkeeping shuffle could be viewed as a hidden payout if the auditor is feeling particularly spiteful. At least having a formal resolution stating you're deferring your payout to improve the company's cash flow provides a tiny bit of cover...

So, there it is. It turns out neither you nor your old man ran that business particularly smart. You should’ve been stripping the assets from the company and moving them into private accounts while you had the chance... then just leave the debt-ridden shell to wander into some endless bankruptcy proceedings that never actually close.

We really should have embraced the true American way...😂

I'm just an employee here. No equity, no ownership... just total responsibility for data accuracy. Can you even imagine the position I'm in right now?

Honestly, I wouldn't want to be in that spot if I were you... 😢