Tax Preparation for business entities normally involves three different categories; Income, Payroll,

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Something happened today that illustrates our commitment not only to quality, but also to our clients. One of my newer customers came in yesterday to drop off the materials necessary to complete her 1040. While here she asked a couple of questions about her already completed corporation return.

As it turns out, through no fault of ours, her prior CPA had made a mistake on the prior year’s corporate return. That mistake created an error in her distributions account. Corporate distributions on an S-Corp return are non-deductible items. Here’s the point. Fixing this mistake didn’t change the amount of tax owed by my client. But it could affect the amount of distributions that she can take on future returns. So I sat down and fixed a mistake that we didn’t cause in the first place.

It’s April 9th. My entire staff is running around my suite of offices with their hair on fire. I have a pile of work on my desk that would choke a pig. But we took the time today, on April 9th, to get it right.

I’ve worked in the accounting business for a very long time. I don’t know anyone, other than my mentor Jay, that would have taken the time to get it right. Something that would not change a taxable amount is generally considered immaterial. Most CPA’s and EA’s would consider such a change to be a complete waste of time. Especially during tax season when time is at a premium.

My client even let me off of the hook, saying, “If it won’t change any tax due, then leave it alone.” My answer was simple. “I’m here to do the best job that I possibly can. Whether we created the problem or not, we’re not here to get it wrong.”

“We’re here to get it right.”

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