Jay Jehad Maswadi

I trusted Jay J. Maswadi for my tax preparation, but my experience was deeply disappointing due to several major errors that could have resulted in IRS penalties. I am sharing this review to warn others so they can avoid similar issues. Serious Errors in My Tax Return: 1️⃣ Incorrect Business Acti...vity Code – Misclassified my business, potentially leading to IRS scrutiny. 2️⃣ Unlawful Home Office Deduction for S Corporation: "If you are a shareholder of an S corporation, you cannot deduct expenses for the use of your home as an office on the corporation’s tax return." (IRS Publication 587) 3️⃣ Incorrect Deduction of Personal Vehicle Loan Payments: "If you use your car for both business and personal purposes, you may deduct only the cost of its business use." (IRS Publication 463) 4️⃣ Failure to Depreciate a Business-Use Vehicle (Over 50% Use): "If you use property more than 50% of the time in a qualified business use, you may depreciate its cost over its useful life." (IRS Publication 946) 5️⃣ Fully Deducted Personal & Business Use of Phone and Internet: "You can deduct only the business portion of mixed-use expenses." (IRS Publication 535) 6️⃣ Failure to Mark First Year of S Corporation Election on Form 1120-S – An omission that could cause IRS processing issues. Failure to Inform About S Corporation Responsibilities: The preparer advised me to elect S Corporation status but never explained: ✔ Reasonable salary requirements before taking distributions (IRS Publication 15). ✔ Payroll tax obligations (Forms 941, 940, W-2). ✔ Potential IRS penalties for noncompliance. Why This Matters: These errors reflect a lack of professional diligence and could have led to IRS audits and penalties. Taxpayers trust professionals to ensure compliance, not create more risks. My Advice to Others: ✅ Always review your tax return before submission. ✅ If you experience errors, you have the right to file complaints with: 1️⃣ IRS Office of Professional Responsibility (OPR) 2️⃣ Florida Department of Business and Professional Regulation I am sharing this to protect others from similar mistakes. If you’re considering this preparer, I strongly recommend seeking a second opinion before trusting them with your tax matters.

Jay was doing working my taxes and he noticed that I could have liability in a certain area with my real estate transactions. Without me asking for aid he recommended I take a certain action to reduce this liability. It’s great to hire someone that is very knowledgeable about real estate and taxes....