CPA Stories: The Schemer

Can you easily identify someone who is always thinking, planning, or scheming? Is this same person you would pick if you were stranded on an island. Is it because their ability to blaze the path forward is unmatched? Is this person known to dabble in the unknown and have an uncanny ability to find a solution you could NEVER? We know them, we love them, and we call them the schemers.

These are the same individuals, who can sometimes be a dream while other times a nightmare. They like to push the envelope. Their world has zero black and white, simply shades of grey. The great thing about schemers is you as a professional can be 100% unequivocally honest in return. Schemeres appreciate your line in the sand, as they are on to the next idea right as the word "no" leaves your lips.

One of my favorite schemer stories is not my own, rather it was a client of one of my best friends. But, it is hilariously represents the ingenuity of the schemer's brain.

I am not exactly sure how the meeting went about, so I will take the artistic liberty to set the scene.

For the self employed consultants, there are several preferential tax treatements allowed. One is the option to utilize either business mileage or business percentage of auto expense when calculating deductions. Many clients opt for mileage, as it typically lends to a higher deduction all else equal. Thus many clients simply provide total mileage along with amount of business specific miles, opting to forgo the calculation all together.

I presume this new client entered the Zoom with a laundry list of questions to pose to their new CPA, assessing the playground rules if you will. They had come across an idea, and it was their time to shine, they likely couldn't wait to say it aloud, praying they cracked the Department of Treasury code.

"Can I use air mileage instead of travel expenses?"

When my friend told me this, I legitimately laughed out loud and said "NO, they didn't". Obviously my friend gave a firm no to the client, and he simply responded "Okay, that is what I thought, but just wanted to check JUST IN CASE."

The great thing about schemers is that although they might give you a headache, they also make you cheeks hurt from laughing. So as the busy season revs up, I hope you too can think of the good stories as opposed to the bad.