For FinCen/FBAR reports, does it matter what exchange rate site you use (treasury v oanda v something else)? Seems they all have slightly different fx rates which I don’t really get in general but curious if it matters or if we can pick one and run with it.
I received an offer at a company but the offer is in a very niche area of tax and in an industry (let’s say real estate for example) that is outside of what I did at public accounting (let’s say tech). Health insurance is also not the greatest either… but I’m out of a job and with the market being tough, think in about taking it. how hard would it be to pivot back into tax in tech if I took this role?
My confession (a tax preparer with 5 years exp, 100k salary) is that when I finish preparing returns, yeah I’ll look over the manual entries within the software and I look at 2 year comp but other than that, I don’t print to PDF to check my work. I honestly just don’t care. I get maybe like 5-6 review notes each return. It’s so much time between preparing and checking yourself and it’s like, eh, I’ll let the reviewer finish off.
Hi all. I am employed by a firm and I also have my own side practice. I represent clients in my practice. I’ve noticed that the notices for my personal clients are going to my employers office. How do I fix this? Should I get a seperate CAF or update the address on my CAF? Would that cause problems with notices for my employers client notices? At my employer, I am usually last on the POA and the first person on the POA (it is never me) checks off that notices will be sent to them
The instructions say to use the treasury fx rates
Yes it does matter. I believe FinCen has rates on the website that’s what should be used.
Yep always official treasury FX rate. Also, I was taught rounding matters. Even if only one cent over, don’t round down, round up to the next whole dollar.