My accountant is useless - time for me to change my name and move house?

[Zak412134]

Just got back from my accountant regarding my tax return.

I explained to him that I've been suspended from eBay and wanted to discuss options etc. but he either don't know what he's doing or don't want to help me.

Anyways, all I want to do is get back on eBay using stealth but pay my taxes. Is my only option to change my name and move house?

[NoneOther]

Well get back on e/b and pay your taxes, it's not difficult.

What did you expect your accountant to do?

[Zak412134]

Originally Posted by NoneOther

Well get back on e/b and pay your taxes, it's not difficult.

What did you expect your accountant to do?

How do I pay MY taxes, when it's Mr X who sells on eBay?

[NoneOther]

How do you think everyone else does it?

[Artann]

Originally Posted by NoneOther

How do you think everyone else does it?

by opening incorporated? did i get it right?? do i get a present if i did???

[Zak412134]

Originally Posted by NoneOther

How do you think everyone else does it?

I have no idea. What I do know though, some members have even told me via PM:

"If I turn over 1k x 10 accounts, surely theres no tax due so why should I worry about it"

Unfortunately I don't agree and want to pay my taxes.

[NoneOther]

You are legally obligated to declare all income to HMRC regardless of source and to pay any tax due.

All you need to declare is the total income less allowable expenses and that is all an accountant needs to know and check too.

[Zak412134]

Originally Posted by NoneOther

You are legally obligated to declare all income to HMRC regardless of source and to pay any tax due.

All you need to declare is the total income less allowable expenses and that is all an accountant needs to know and check too.

So I explain the concept of stealth to my accountant - create stealth accounts and then at the end of the year give him my supplier invoices, royal mail invoice etc on my name and then the sales on all my stealth names - and he goes ahead and completes my tax return?

If so, what happens if I'm ever inspected..?

[Bruze]

Originally Posted by Zak412134

So I explain the concept of stealth to my accountant - create stealth accounts and then at the end of the year give him my supplier invoices, royal mail invoice etc on my name and then the sales on all my stealth names - and he goes ahead and completes my tax return?

If so, what happens if I'm ever inspected..?

Then you will have to pay more tax?

[NoneOther]

Why do you need to explain stealth to an accountant?

If you have declared all income then you have nothing to worry about.

[Zak412134]

Originally Posted by NoneOther

Why do you need to explain stealth to an accountant?

If you have declared all income then you have nothing to worry about.

Thing is, it's not me declaring my income - but rather my accountant. So I must explain stealth to him.

But regardless of that I have a plan of my own - how successful it'll be I'm not sure. But if I PM it to you would you be kind enough to see if there's any shortcomings?

Zak.

[zoneout]

So if you dont like your acct get another one or do the books yourself. There is plenty of sw out there to make it easy for anyone. That should be the least of your problems.

[NoneOther]

No need to PM me as I have said all I need to say on the matter.

BTW it is you declaring your income, you accountant only checks figures and submits your return as your agent which I'm sure you already knew.

[css1]

Not the best place for tax advice, but in a nutshell, can you not have your main company/corporation and all your stealth accounts under it. Whatever comes in declare as income, and if asked, just say it's a network of ebay accounts.

[Zak412134]

So this thread has 13 posts, what I've taken from it is:

1) Manually work out profit / loss on all stealth accounts and then send them off to Revenue & Customs.
2) Create a corporation / group which all the stealth accounts are trading under.

Now this one is unrelated to what the discussion was here, but if I was to use my real name (quite a common name) and DOB to eBay with a different address, IP etc. Am I likely to be linked?

[Roscoe]

The stupidity of some members on this site never ceases to amaze me.

Yes, if you drive your car off a cliff you will probably get killed.

[Zak412134]

Originally Posted by Roscoe

The stupidity of some members on this site never ceases to amaze me.

Yes, if you drive your car off a cliff you will probably get killed.

Probably, but not necessarily? Depends on the car, the cliff, the passenger etc. Yet instead of contributing somehow the spectators have nothing better to do.

[Futuremogul888]

OP, you are the worst type of client a professional has to deal with. You are not smart enough to comprehend his advice and you blame him for not being able to help you. Your accountant isn't useless; You are. Why are you talking about the fact that you were suspended from Ebay and the principals of stealth (which you clearly don't understand) with an accountant. What about his profession leads you to believe, he wants to discuss this with you. No matter what name is on the account it is your income and report it as such. Just like a payroll check you get in your name. Make sure to report every last dime too. Since I imagine you will just be a burden to any tax professional do your taxes yourself using, quickbooks, turbotax, outright.com, or waveapps.com. In the future dont't blame your shortcomings on others.

[bruceuk]

Originally Posted by Zak412134

So this thread has 13 posts, what I've taken from it is:

1) Manually work out profit / loss on all stealth accounts and then send them off to Revenue & Customs.
2) Create a corporation / group which all the stealth accounts are trading under.

Now this one is unrelated to what the discussion was here, but if I was to use my real name (quite a common name) and DOB to eBay with a different address, IP etc. Am I likely to be linked?

ZAK
This is a forum for stealth regarding ebay and paypal .
You will get very limited info on tax and such as i dont believe we have any accountants as members.
I commend you for wanting to pay your taxes but dont start talking about stealth to accountants.
It will get you nowhere.
calculate your income and give the tax man his share .. simple.

But .. if you start using actual names and dobs you wont have much to calculate

[Roscoe]

Originally Posted by Futuremogul888

OP, you are the worst type of client a professional has to deal with. You are not smart enough to comprehend his advice and you blame him for not being able to help you. Your accountant isn't useless; You are.

Why are you talking about the fact that you were suspended from Ebay and the principals of stealth (which you clearly don't understand) with an accountant.

What about his profession leads you to believe, he wants to discuss this with you. No matter what name is on the account it is your income and report it as such. Just like a payroll check you get in your name. Make sure to report every last dime too. Since I imagine you will just be a burden to any tax professional do your taxes yourself using, quickbooks, turbotax, outright.com, or waveapps.com. In the future dont't blame your shortcomings on others.

Maybe his accountant is Aspkin?

[Zak412134]

Originally Posted by Futuremogul888

OP, you are the worst type of client a professional has to deal with. You are not smart enough to comprehend his advice and you blame him for not being able to help you. Your accountant isn't useless; You are. Why are you talking about the fact that you were suspended from Ebay and the principals of stealth (which you clearly don't understand) with an accountant. What about his profession leads you to believe, he wants to discuss this with you. No matter what name is on the account it is your income and report it as such. Just like a payroll check you get in your name. Make sure to report every last dime too. Since I imagine you will just be a burden to any tax professional do your taxes yourself using, quickbooks, turbotax, outright.com, or waveapps.com. In the future dont't blame your shortcomings on others.

So in this scenario I'm the client and your the professional? Hopefully not an accountant, which is why you're taking this so personally.

[Zak412134]

Originally Posted by Roscoe

Maybe his accountant is Aspkin?

Tut Tut, don't give me the silent treatment Roscoe