I have owned stock in 2 related subchapter-S companies for several years. In 2009, the parent company, also an S-corp, took back my stock in these 2 subsidiaries, and instead gave me stock in the parent.
So I had 3 K-1s to deal with, and as usual the K-1s didn’t arrive until April 8th and 12th.
I had waited a week for an appointment with a CPA, then sat down for about 30 minutes and explained the situation. Suddenly, the accountant stood up and said they weren’t able to help me. It was too complicated, they had too much to do.
I was shocked . One week to tax day and I had nowhere to go. I had tried TurboTax, but no way could it deal with this K-1 swap. I couldn’t return to last year’s accountant. He had said my return was a lot of work, and had charged me big money. And last year’s had been much easier than this.
I couldn’t believe this. I’m from Chicago, and I have known smart accountants in the past who could certainly deal with this. But after 4 years in Fort Myers, I didn’t know where to turn.
Then I met Rick Donner, and the situation changed completely. As I talked to him, he immediately started creating my return on his computer. I explained the stock swap and showed him the documents, and he quickly figured out what was going on. Then he sat and thought for a while, and I shut up.
Finally he said ‘Ok, here’s what we’re going to do’. And he proceeded to explain the strategy for dealing with the swap. Furthermore, the return was essentially done – he had been typing everything in while we were talking. All we needed was the last K-1, and that was it.
I was blown away. It had seemed like such a big problem an hour ago, and now it was magically solved. What had been a really bad day had suddenly turned great. Such a relief to find someone who could handle this with no nonsense. And, he didn’t try to make a big case out of it and charge me an arm and a leg.
Rick is forthright, smart, and a straight dealer. I would recommend him heartily.
Dave S.
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