Jeremiah Baba Pagano, Esq.
@BabaPaganoEsq
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New Yorker 🏙 living in San Diego ☀️🌴| General Counsel in the financial services industry | ΣΦΕ | All tweets are my own. #aspire2retire
San Diego, CA
Joined July 2012
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Pinned Tweet
Attorneys: “Use this as a template—the facts are just about the same.”
Accountants: “Use the prior year’s workpapers—the numbers are just about the same.”
Schools: “Don’t copy someone else’s homework!”
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The day a client sends me an NFT of their balance sheet is the day I permanently retire.
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Audit defense story time:
During my 1st Yt as an attorney I was tasked with a sales tax audit. CA took the position that the cash only bar was under reporting sales. Based on the amount of alcohol the bar was purchasing they determined that there was under reporting. 1/
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I’m looking for an artist to commission some pieces for my office—anyone have recommendations? Bonus if they do watercolor.
#art
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Today I was called rude when a recruiter cold called me about a tax attorney position with a starting salary of $60,000 (LL.M. required) and I just started laughing. I legit thought it was a joke.
#taxtwitter
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Knowing how to google is the sign of a true professional.
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The reviews went back like 8 years. I submitted it all to the auditor with the explanation that when accounting for the more than standard pour the POS system fell within an acceptable range.
I won that audit with common sense and almost zero technical tax analysis. Fin.
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So I guess it’s not normal to teach younger family members math by playing blackjack.
Well my niece can add up to 21 faster than anyone in her class and she knows to double down on a soft 16 with a dealer showing 5.
Also I think “only gamble what you are willing to lose”is a…
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#TaxTwitter
it finally happened—I have a client that I think can legitimately pay a portion of his dog’s expenses as a business expense.
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Shoutout to everyone that had make book covers from grocery store paper bags for their middle school textbooks.
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It has been a while since I have done a
#redditroundup
but this one made me laugh and I think
#TaxTwitter
could use a pick up.
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Asks client for an org chart…
Client: Here, I recreated what our last tax attorney did.
Me looking at org chart where every entity is a grey rectangle. Starts to stare at a particular grey rectangle labeled “tax ‘blocker’ company”
Me: What is this tax “blocker” company?
C:…
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Booking an early flight always seems like a good idea until the alarm goes off.
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The other 1% is “possibly, let me look into that and get back to you.”
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Hmm 1099 issued to the individual instead of the SMLLC taxed as an SCorp (I know). Issuer is basically defunct and not likely to issue a corrected 1099. Report and zero out on Schedule C with note that income is nominee income of the SMLLC?
#TaxTwitter
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Anyone have a referral for a web developer to assist with the creation of an ecom website on the
@squarespace
platform?
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Things I see on social media that shouldn’t surprise me but still do:
Business owner asking for a CPA referral for help filing an S-election because Form 2553 is too complicated.
Excuse me sir, you should consult a tax pro on if you should make an S-election not on how to make…
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Maybe this is an attorney issue but how do I get staff to have the same urgency as clients and attorneys?
Blown deadlines to me are just unacceptable.
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Hi all—taking a break from twitter for a little bit. Some big personal news on the horizon so stay tuned. Thanks!!
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#NewMoneySummit
most of you are probably asleep but here’s my one and only hotel hack to make sure the sun doesn’t wake you up.
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I suggested that an S-Corp makes sense for a client today. Is this a sign of the end times?
#taxtwitter
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I took on a new client because its last tax attorney unexpectedly passed away. In reviewing docs and structure this man was an artist!
I almost want to go put flowers on his grave and thank him for making my life easy.
#TaxTwitter
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Chatting with an employment attorney last night:
Him: Wait…certain tax code sections can turn on or turn off other code sections?
Me: Yup.
Him: Why the hell do you practice tax?
Me: I like puzzles?
#taxtwitter
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@ItsMattsLaw
Then a disclaimer at the bottom that says please delete if you are an unintended recipient.
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I just saw a video with a “tax pro” saying a man could deduct the cost of his iguana.
#TaxTwitter
do your thing—find the video and rip it apart.
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Something I learned as a first year every young attorney needs to know—if the paralegal with 20yrs of experience ever says “Well you are the attorney…” drop whatever course of action you were going to take and have a deeper conversation on the matter.
#lawtwitter
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I was told that San Diego hasn’t had a fully sunny day since Feb. 15th and we are not expected to have a fully sunny day for at least a month. My taxes are too high for weather like this!!
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I would actually like to see
@ForemanTaxLaw
do a TED talk on all the reasons he hates S-Corps.
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Anyone have a contact for someone that can turn a few logos into vector images?
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A
#Taxtwitter
and
#fintwit
🧵:
There’s been some questions on Tax Pros in the Financial Planning and Registered Investment Adviser space. I have a lot of opinions and perspectives so buckle up!
(1) The FP and RIA space needs more tax pros!
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Clients accountant calls me:
Hey! Can you send me the tax memo you wrote for our client? They have listed it as an asset of the company.
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Why does any S-Corp discussion devolve into a reasonable comp discussion?
Why are we not talking about how S-Corps are just C-Corps that don’t know it yet?!?
#TaxTwitter
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Getting OOO emails from CPAs when you still have about 7 billable hrs left before the weekend is giving me a lot of FOMO. But cheers to my colleagues that got the last of the returns out the door yesterday and can take a breath now.
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Multi-member LLC where the founder files on his Sch C and 1099s the other members. I’m afraid to ask how many years this has been going on for.
#taxtwitter
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It wasn’t until I read this post that I understood why I got a strange reaction at an event a few years ago when I told people that “I’m a tax attorney”
#redditroundup
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I love getting OOO emails from colleagues this time of year. You absolutely deserve the time off!!
I’ll send you emails but don’t feel like you need to respond.
#taxtwitter
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Confession time—I was gifted this lavender and sage spray that I thought was a household cleaner. Turns out it’s a “cleanser” like for evil spirits.
So my kitchen is demon free but may be full of salmonella. 🤷🏻♂️
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I want to make sure people are 100% clear there was zero military presence in downtown San Diego today.
THE DOWNTOWN SAN DIEGO PROTEST HAS BECOME VIOLENT BY THE MILITARY!!! THEY HAVE OPENED FIRE, RUN FOR YOUR LIFE
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Every survey I have seen says that a business owner’s most trusted advisor is their accountant or tax preparer. Remember the influence you have
#TaxTwitter
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Autocorrect just added “love” to my email to my client, the forensic accountant, and litigation co-counsel. Great way to start the day…ugh.
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It is worth spending market rate and hiring a great tax pro instead of filing your own taxes and having to pay 5x to resolve the issue that you created.
#TaxTwitter
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There’s a tax pro I really respect that I just found out runs a faceless ERC firm.
The website has some mill-ish language like “In as little as 10 minutes find out if you are eligible!” “The process is simple and painless!”
Not sure how I should feel about this.
#TaxTwitter
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Sometimes I want to gift copies of “The Logic of Subchapter K” to private fund attorneys that draft LP agreements with insane allocations.
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TIL that my dad bought an
@omegawatches
Seamaster when I was born, had it inscribed with a message for me and has been wearing it as his daily watch until Saturday when he gave it to me as my birthday gift.
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I don't know who needs to hear this but self-care is client-care.
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@Eli_Albrecht
I had this happen to me on Friday (I represent the seller), my response on the call was “Honestly, market is whatever your client will accept so in the interest of time why don’t you find out if this offer is acceptable?”
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Not sure why in-house counsel is mad at me for spending time stripping the operating agreement of language that would blow the S election.
#TaxTwitter
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@AccountingAsArt
Guy works from home—office is a converted guest house, he’s had multiple break ins and wanted a dog for security reasons. He went to a reputable breeder and paid for the dog to be trained and certified as a guard dog, he keeps a contemporaneous log of the times that the dog is…
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Just hit send on my first email of the day and I started it off with “Yo Whom It May Concern:”
It is going to be a long day.
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#TaxTwitter
how should I handle this client’s CPA?
Deal needs to be a F reorg and the client’s CPA claims to have done them before but based on his questions to me and answers to my questions I don’t believe he knows what he is doing.
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Having to dig in the back of the closet to make sure your black suit still fits is never fun. Make sure you take the opportunity to tell those close to you that you love them.
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I feel seen.
‘You should probably let your niece win at least one game of Mario Kart’
Me:
158
6K
93K
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Today is officially my last day with the SBA. I joined during the worst of the pandemic and although the programs were not perfect I hope I was able to help some folks out.
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So my newest client is an absolute dog…no literally she is a canine influencer.
#taxtwitter
#lawtwitter
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I did the 2023 math and being the pickup the phone guy has lead to me getting 15 new clients.
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Over the last 12 months or so I have reviewed about two thousand 2019 tax returns and all I can say is that there are a lot of bad preparers. Taxpayers, you know your business better than your tax person—review the return and ask questions!!
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Had to call the FTB today for the first time in a while. I wait for like 45min, rep gets on the phone and immediately hangs up on me.
#TaxTwitter
some things never change.
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So what was everyone’s weekly screen time increase? I’m up 12% for a total of 4 hours, 14 minutes a day.
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I had such a great time at the
#NewMoneySummit
! Getting to meet so many members of
#taxtwitter
was awesome! Thanks
@westerncpe
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Dear scammer:
You want me to believe that the CEO of a multinational company has an email that looks like this: first.last11
@aol
.com?
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8 hrs until I am taking my first true vacation in about 2.5 years. Any tips for disconnecting? I plan on checking email twice a day at breakfast and early evening.
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@olsonplanner
I’ve seen one MD, JD, MBA out in the wild and I am so mad I wasn’t able to ask him why
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Hi, I’m a tax attorney. You might know from my hits “it depends,” and “let me do a bit of research and get back to you.”
Hi, I’m a tax accountant. You might know from my hits “no, you cant do that,” “That is fraud,” and the chart topping “Why the hell did you not disclose 500K in revenue”
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The
#NewMoneySummit
is going to be a good time! Is it okay to say I’m intimidated to be on the same panel as
@AtlantaTax
?
Meet Alicyn McLeod, CPA, CFP, aka
@AtlantaTax
! With her expertise in tax strategy and financial planning, you won’t want to miss her insights on incorporating financial planning into your practice.
Ready to be inspired? Use Code: Alicyn for $50 off your
#NewMoneySummit
pass!
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Almost sent my first “Pls fix. Thx.” Decided not to do it.
Be the change you want to see!
#taxtwitter
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I just found out I was very very close to a cartel hit the other night and had no idea.
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I like to imagine that
@ForemanTaxLaw
is looking at himself in the mirror and hyping himself up for this webinar.
Also if you are part of
#TaxTwitter
and aren’t joining you should because Matt knows his stuff and isn’t boring.
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Today a recruiter called me and asked if they could put me up for a job I said sure why not and then I was asked to take an IQ test, a personality test, and provide 6 references (3 supervisors and 3 personal). I think I’ll decline the offer to apply.
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Someone want to tell my M&A clients?
Let's be honest no one actually does any real work from now until the new year
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It is a big win anytime I can just forward a
@nittiaj
article instead of drafting a lengthy email to the corporate attorney on the other side of the deal that doesn’t have a clue of the tax consequences of what they are negotiating
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If I ever get the pleasure of being the managing partner of a law firm the Monday after the Super Bowl will be a holiday
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I’m not sure how I’ve been on God’s green earth for this many years and never thought to use everything bagel chips as crotons in my Caesar salads until tonight.
#chef
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My dog’s new favorite “toy” is my plane neck pillow. She was running around the house like a lunatic with it until I put it around her neck then she just sat there and stared at me wagging her tail but not sure what to do.
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@justinmilleresq
I once had an auditor comment on the ascetics of one of my spreadsheets and I think I might have blushed.
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