I'm a small business owner and switched CPAs 3 times in 5 years. From my experience: 1) Yes its normal for CPAs to want bank statements. They're covering their own liability. 2) Not normal for them to be inflexible about legitimate deductions IF you have proper documentation. 3) Forcing you to use their bookkeeping services sounds like a conflict of interest and money grab tbh. I'd interview a few other CPAs. Just because this behavior is somewhat normal doesn't mean you cant find someone who communicates better and is more helpful with your specific situation!

I'm sorry for your loss and the challenges you've faced taking over the family business bookkeeping. From a tax professional perspective, requesting bank statements when you've provided a P&L is actually standard practice, especially in situations involving business ownership transitions. The CPA has a legal obligation to exercise due diligence and verify the accuracy of information before filing your return. Bank statements serve as independent third-party verification that your recorded income and expenses actually occurred. This protects both you and the CPA in case of an IRS audit. However, the communication style and inflexibility around legitimate deductions are concerning red flags. A good CPA should explain why they need documentation rather than just demanding it, and they should work with you to properly document legitimate business expenses rather than outright rejecting them. The fact that they're pushing their own bookkeeping services while being difficult about your work also raises some ethical questions. You might want to get a second opinion from another CPA to see if their approach is reasonable or if you'd be better served elsewhere.

Seriously, don't skip professional liability insurance if you're starting a tax prep business! I learned this the hard way when I made a calculation error on a client's Schedule C that resulted in them owing penalties. The client threatened to sue for the penalties plus damages. Insurance saved me thousands. Also, make sure you understand and use proper engagement letters with every client that clearly outline your responsibilities and theirs. This includes what happens if there's an audit, who's responsible for providing accurate information, and your fee structure.

Great advice from everyone here! I'm in a similar position - worked at a regional CPA firm for a few years but thinking about branching out on my own. One thing I'd add is to consider starting very small and growing gradually. Maybe begin with just 20-30 clients your first year to really understand the business side of things. Also, don't underestimate the technology costs beyond just tax software. You'll need secure file storage, client portals for document sharing, appointment scheduling systems, and potentially a separate business phone line. These costs can add up quickly but are essential for running a professional operation. One last tip - consider specializing in a particular niche rather than trying to be everything to everyone. Whether it's small business owners, freelancers, or people with rental properties, having expertise in specific areas can help you command higher fees and build a reputation.

If nothing else is working, consider contacting your Congressional representative's office. They have staff dedicated to helping constituents with federal agency issues, including the IRS. I was getting nowhere with my tax refund issue for 4 months until I reached out to my congressman's office. Their caseworker contacted the IRS on my behalf, and within 2 weeks I had answers and my refund was processed. It's literally their job to help with these situations, so don't hesitate to use this resource!

I feel your frustration - I went through the exact same thing last year with a 4-month delay on my refund. Here's what finally worked for me: Try calling 800-829-1040 at exactly 7:00 AM Eastern time on a Tuesday or Wednesday. When you get the automated system, press 1 for English, then 2 for "questions about a form you received," then 1 for "form you received," then 3 for "other." Don't say anything when it asks what form - just wait in silence for about 15-20 seconds and it will transfer you to a live agent. Also, keep detailed records of every time you call - date, time, how long you waited, what happened. If you still can't get through after a few weeks, file Form 911 (Request for Taxpayer Advocate Service) online. The Taxpayer Advocate Service has been a lifesaver for many people in similar situations. One more thing - if your refund is over $5,000 or you claimed certain credits like EITC or Child Tax Credit, returns automatically get flagged for manual review which can take 8-12 weeks. The IRS doesn't always communicate this clearly, which is why the "Where's My Refund" tool just says "processing." Don't give up - you will get your refund! The IRS is just severely understaffed right now.

PSA: whoever you pick make sure to check their reviews on google first! And get a price estimate b4 they start working

Honestly might be worth checking if any of these places offer free consultations first. I've heard some will at least look over your docs and give you a rough estimate of complexity/cost before you commit. That way you can shop around without getting locked into their fees upfront.

Don't overthink the building management fees! I spent hours researching this same question last year. The admin fee and move-in fee are definitely deductible in year 1 as rental expenses. The working capital contribution is trickier - technically it's a deposit into the building's reserve, so it's not immediately deductible. Also, make sure TurboTax is prorating your expenses correctly for the partial year. For things like property taxes and insurance, you can only deduct the portion that applies to when the property was actually a rental (Oct-Dec in your case). So that would be 3/12 of your annual amounts. This might be why some of your numbers look off.

I had a very similar situation with my first rental property! Your cost basis calculation is definitely off - with a $520k purchase price, that $134,628 figure suggests there's an input error somewhere in TurboTax. A few things to double-check: 1. Make sure you entered the correct land/building allocation. Based on your tax assessment ($215k land, $100k improvements), you should allocate roughly 68% to land and 32% to building from your purchase price. 2. Verify you didn't accidentally enter a partial ownership percentage or put in the wrong purchase price. 3. The bathroom renovation ($15k) should be added to your depreciable basis since it was done before placing in service. Your depreciable basis should be approximately: ($520k - $353k land value) + $15k renovation = ~$182k for the building portion. For the closing costs, most of what you listed (recording fees, title insurance, legal fees) get capitalized into your basis rather than expensed immediately. The admin fee and move-in fee to building management can typically be expensed in year 1, but the working capital contribution is usually treated as a capital asset. Also make sure TurboTax is correctly prorating your expenses for the 3-month rental period (Oct-Dec). Your actual deductible expenses should be much higher than $257 for three months of operation.