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Once in awhile there is a client that no price is high enough!

Anyone looking for a couple of CPE hours in late April, I'm presenting online. https://www.bigmarker.com/tax-practice-pro-inc1/When-1040s-Go-Wrong-Navigating-a-Tax-Train-Wreck @Lion EA saw the first presentation of this, live, last September.

Thanks to Eric and to all of you. I am starting to double guess myself and waking up in panic mode. Not Good! Without you, I would be lost, even with all the research material that I have. Please donate to keep this board alive and always appreciate all of the knowledge and comradery found here. Happy Summer to everyone.

I don't know what I would do without all of you and a couple of groups that I belong to on FB. I am hesitant to ask questions of some groups, but this bunch of awesome people are willing to help and be kind. All of my cronies here are dead, retired or just said that they had had enough. I hope that it's OK if I hang around here for awhile after I retire. I am just letting my permit go inactive, in case I get desperate and have to work for somebody else in Colorado.

Almost over people !!! Take a couple weeks off then finish the stragglers we filed extensions for. Its been a trying year that has dragged on forever !!! Been saying for years we need to cut back, but this year solidifies we need to. Tired and wore out as I imagine we all are. Hope everyone has a fantastic summer !!

I will be working all day today and tomorrow. Then on to the extensions. This has been a whirlwind year. A client is bringing homemade soup for tomorrow. Then I can say that we have been given everything from soup to nuts. Friday it was two quarts of homemade maple syrup. You just have to love these clients who appreciate what you do for them and we really try to do the best job possible. Off to work I go.

Yes, a very heartfelt thank you to Eric, the moderators, and every colleague who reads and posts here. Without you, I would be bereft of what small dregs of sanity remain to me.

For me, this site is a place to learn, get answers, vent or commiserate, or just take a break during the day. It continues to be an invaluable resource that's been a part of my daily routine for 17 years. Eric has taken care of us from the site's inception, mostly unseen, and his work is ongoing. Soon he will migrate the forum to a new host and is waiting for us to get through the 15th before doing so. I've made a donation today and hope others here will consider that as well.

This was my last April 15th when I have to care about anyone else's return except my own! I just finished a bunch of extensions, but I still feel like a huge weight has been lifted. This has been the worst tax season ever. I didn't think that it could ever be worse than losing my Mom, but this last five months of having my husband so sick has been the pits. It was getting so hard to concentrate and get enough sleep. We got a new puppy, too for my husband. He turns out to be a Morkey, not a Poodle but I am happier with him anyway. I am also pretty sure that he will never know to go to the door to be let out. He is way too small, anyway. At least he is very good at using pads. Between a dog and 3 cats, it keeps me busy cleaning up. I just hope that we can find a condo that will allow 4 pets when we move. It was a sad and happy day. Lots of hugs and tears, and I will miss my clients. I got some beautiful bouquets, a customer made blankets for both my husband and me and gift cards to go eat. I did get a gift that I bet none of have ever received. My clients sent me an adjustable leg rest because they know that my leg is still a mess after my scope and that I will be getting a replacement. My client had just broken his leg very badly and was using this after his surgery. I have been blessed and still have a ton of work to do. I am hopeful that my husband will improve so that I can get a part time job out of the house in anything but taxes. Thanks so much for everything. See you all soon!

I have the utmost respect for everyone here and I thank you for sharing your day to day and making me feel less alone. Sincerely. My plan was for this to be my last year but I looked at the numbers and I think I have to do at least one more. Here's hoping I'm just exhausted and maybe I can call it a day? Congratulations to those who are done. My best to those who will continue.

Yes! I definitely agree. Especially for those of us who work solo. Thank you!!

Certain people do come to mind and then they turn to dust. Breaking things after an aggravating day can be very satisfying.

Amazingly 20 minutes after e-mail she shows up all apologetic. Didn't give her the return, only the original documents.

I'm fortunate enough to be at a point in my life where I don't need to be bringing in money from preparing returns. For the most part, I still enjoy it and the vast majority of my clients I look forward to seeing each year. Email sent and now I'm going to go dig in some dirt and plant some veggie seeds!

Cigarette smoke and couldn't wait to get them out of my office. The firm I worked for early in my career had a seafood market, and the stench from its papers was nauseating. The owners knew it too because they and the kids would shower and change clothes after work. AIr out as best you can, keep the docs sealed up and in a separate area until ready to work on them, and get the work done sooner than later. Maybe you could put a box of baking soda or some odor absorber/neutralizer in a bag with the papers.

Just received an email from "Karen" that says "I have uploaded my 2023 tax documents in the workdrive below secure link, please look through it, and let me know if you need any additional information. Also will it cost the same as the last." I'm small enough that I know all my clients and didn't fall for it. Those that deal in volume returns or have staff beware!

Almost every client I have, has "some" Social Security included in taxable income. When I started in this business, only the "pretty well-off" did.

So I had an issue with a client that I needed to talk with IRS about. Called the PPL expecting a 20-30 minute wait. I was shocked at how quick it was. The agent was on the line before I had my paperwork out of the file. Issue resolved in 10 minutes. I need to get a lottery ticket tonight. Tom Longview, TX

The cats hated him at first, but the Alpha is getting closer to him. He only weighs 4.5 pounds and our smallest cat weighs 12. Yoda can't figure out why they are annoyed when he chases them or runs headlong into their side to try to get them to play. The cats are positive that he is beneath them. He really needs our son to bring back their two Great Pyrs again, because he has a blast with the youngest one. When we get moved out to Colorado, they will have fun. A Morkey is part Maltese and part Yorkie. He does have some poodle in him according to his DNA test. He does not shed and he is the faster than greased lightning.

I'm in for a short time today but probably won't get much done. Got an email from a lost client. He's four years behind. Ha. Says he wants to catch up. Ok but he'll have to get his info to me. His son has been coming in regularly. We'll see. I jogged this morning. Feels good to get back to it after a few months off.

Yes, absolutely we want you to stay with us.

I'm essentially done other than one that is a total PITA. They dropped off info late March. I sent email of a couple basic items missing. Various emails over the last 2 weeks to get the info. Sent email that they were done Tues, and she replied she will pick up today. Did not answer my return email as to what time today. I sent another this morning saying they need to be picked up by 1 pm. At 1:05 I'll be sending another email with password protected file of their original documents telling them they need to go somewhere else. They have 1 dependent that graduated HS in 2023 and another in college. Guessing at least one of them filed their own returns without indicating they were being claimed by someone else. Same crap happened last year and needed to prepare a revised return for them on 4/18 because kid claimed herself. I can be very nice until I feel taken advantage of. When I reach that point, look out!

I've had a policy for years - and my annual tax letter states in bold - that any return not ready for signatures and e-filing as of April 1st *will* be put on extension. My cutoff is March 15th, but the poison pill in it is that I have to have all the documents and information in-house by that date. People rush to get me docs on March 14th & 15th - but it's never, ever, complete, so they have not made the cutoff. Manage your clients, or they'll manage you into premature gray hair and high blood pressure.

You probably need to ask a lawyer for a proper answer, but what is his recourse if you ignore him? If you need to respond to him, be short, be to the point, be stone cold, do not be emotional. I'd suggest something like: "You requested 5/18. I originally agreed to that. Your request to move that to April, and now March, is not feasible. I will let you know on 5/1 if 5/18 is still feasible for me or if I need more time." Do not go into detail. Do not state reasons for your decision. Reasons are something to be refuted; do not give him that option. When he responds, most likely angrily, do not answer his questions and again, do not go into detail or give reasons for your decisions. Remain stone cold and keep your reply short. Reply with something like: I have stated numerous times that your request is unattainable. I will update you on 5/1. If he responds, reply with: "I'm sorry, I cannot do that. As I do not have time for your temper tantrums, I will block your email and phone number until 5/1 and contact you with an update at that time." You have the right to walk away from an abusive situation. Exercise that right.

The incomparable thrill of meeting the deadline. Almost 2 a.m. and 4 coffee cups, that would have been about right in many past years for me.

I'm done. This morning I filed the extension for my ultimate procratinator, and other than the extended returns, I am waiting on one to pickup (SO unexpectedly hospitalized day she was scheduled to see me) and one couple that have had the returns for almost a week and must return the 8879 to me. Tomorow I am participating in a charity event in the early morning and then will be shooting at the clay pigeons. That's been ongoing as weather permitted and really helped keep my sanity this year. Plus, it's fun.

You are so right! I had about a dozen that I out right fired, about 10 more that I doubled the price and they went elsewhere and a couple more that paid the PIA fee. The stress these clients caused was not worth the money.

If I have nothing, I just use last year's tax as a guesstimate for this year. I automate that in ATX by linking the prior year tax from the comparison form to the 4868. It's better than zero.

The person who set it up made a lot of money. Apparently enough to "incentivize" brokers.

That is against the unwritten rules. No one may ask for tax advice before doing something. The more idiotic the step, the more strictly this is enforced.

I am 84 years young, but I tell most people 78.

has worked fine with the few clients I've tried it. And as you mention, they have been older clients; younger ones I've pointed them towards Direct Pay. Just had another instance of client's check going missing--the 1040-ES arrived but not the 1040-V. Even though elderly, I think he is savvy enough with the computer to use direct pay going forward. We have a serious problem in my area with stolen checks, including those dropped off inside the Post Office.

Here we go again: Bubba: "Hey, bought a brand new pickup truck!! $100,000. All for business. I parked it outside so you can see it." Preparer (after glancing out the window and seeing two fishing rods sticking out the window). "That's great Bubba!! We'll see what we can do with your mileage log." Bubba: "Whaddya mean mileage log?? I want'chu to write off this whole thing." Preparer: "They won't let us do that. Only a limited amount of depreciation per year. Not only that, but if you take actual cost, you STILL need a mileage log." Bubba: "Only a limited amount of depreciation? I'll never get $100,000 depreciated out before the thing is ready for the junk yard. I don't need a mileage log either. It's 100% for business. I tole you that." Preparer: Mileage log?? Where do you drive? Bubba: "Everywhere in my business. Just got back from Myrtle Beach last week and my wife wants to see the Alamo in June." Preparer: "I'm sorry Bubba. I don't think I can help you." Bubba: "Well I'm sorry too. I can find someone to do what I want them to do. I'm gonna take my honkin' new truck to Slick Sam over in Yonder County and he'll fix me up." Ever happen to you??

At a seminar an IRS agent once told us that the only vehicle IRS believes is 100% business use is a cement mixer.

yes, just had a client with modest income who took $15k out of her IRA with 20% withholding--she still owed because of the additional Social Security income being taxed. It's been $25,000 and $32,000 since...the 90's?

$3,000 net capital loss allowable per year. I have clients who won't live long enough to use all their capital losses!

The loss on 8995 is NOT a deduction for FIT. It is strictly used to calculate QBI deduction. Any profit this year would need to be reduced by the 8995 loss before calculating any 199A deduction.

8 pm! Just filed the last extension and there are many. This day is SO over. Had to pause for one more senseless phone call. I am going to bed. Have been in this chair for 12 solid hours. We didn't even stop to eat. Good night all. Things will look better tomorrow. I am also rethinking giving up and shooting for one more year. What? Have we all lost our minds?

I definitely have a few in mind to fire. However, I'll wait until I've recovered a bit before making final determinations. Drake tracks time on a return (so I leave the client's return open when I'm doing anything with their documents) and one of the things I'll do is go back through 'em all and compare what I charged with what my time-billing fee would have been. Anyone whose time-bill is substantially more than the per-form charge is high on the list of candidate for firing.

Yes, it's a godsend for all of us who are solo! And I too have had all but one other accountant I know retire.

Holding your ground is a good thing. Erosion (I am a left coaster so it is physical as well as mental) hurts.

I did see that happen one time (over 20 years ago). I hadn’t prepared the extension or the return, but was asked to look over an audit report. The original extension request showed zeros on all lines. The actual tax liability was significant - $15 k or so. The taxpayer was self-employed and clearly should have know there would be tax due. The audit only turned up a nominal amount of additional tax - maybe $1k or so. But the auditor added full FTF penalties, stating that a reasonable estimate of the tax liability was absent from the 4868 and thus it was invalid. That’s the only time I’ve ever seen that happen, so I conclude there’s no attention paid to the numbers in the 4868 unless there’s an audit. But then they have a slam-dunk case for invalidating the extension retroactively if the extension shows all zeros. That’s why I agree with the approach to estimate the projected tax liability high, even if there’s only a token payment (or no payment) submitted with the 4868. It’s perfectly fine to lowball the payment (or even not submit a payment), but don’t lowball the expected liability.

That always annoyed me to no end, but I wonder if it's because many of us don't work the off season, and so might miss any notices sent later. Like others, I quit MAX 2 years ago. Last year it worked out to be about the same cost, but then I fired all my non-profits, and a bunch of 1040 clients. This year I'll fire more 1040s. Goal is to hold onto tax season but without extensions and without clients who stress me out, lol. This year the delay in so many K1s is kinda screwing that up, but as long as I have everything done and double checked, I'm ok with just plugging in the K1s later on.

No. It is different for a corporation and not at all the same as how a partner handles UPE. Corporation would need to set up an accountable plan and reimburse the shareholder. An example of where this is used is personal auto used for business purpose, shareholder keeps mileage log and submits a report to the corp for reimbursement. Corp reimburses at the allowed federal rate. There are other accountable plans that have more specific tax law rules such as medical reimbursement plans or when to reimburse shareholder paid disability insurance premiums. If there is carelessness or intentional comingling of expenses paid from the corp accounts, you may want to have a discussion with your client about not using the corp's checkbook as his/her own.

You shouldn't need to paper file either if you get on it. I just efiled one where the taxpayer died in December.

Years ago, I used direct debit, and the IRS took the money twice. One phone call and they immediately acknowledged, but it took them 10 weeks to refund the 'double dip'. LONG ago, and I'm certain it's fixed, but I've never used it since. I have an instruction sheet with instructions for direct pay for Fed and State, and I pay a client who is retired to come in 4 times a year and phone all my clients who have estimated payments reminding them of the same. Clients love it, and it's a 'touch' in the off season time. I print vouchers when I do the tax return for folks who want to send checks, and we keep a spreadsheet of 'estimated payment' clients. My son is getting ready to go to college, and he says he's going to take over my business someday. When that happens (or when he changes his mind and I sell my business), he can move the estimated payment system into this century ... my retired client might be tired of making the phone calls by then ;).

I always liked the ones who said they’re too busy to keep a log and “if I’m audited I’ll just give the auditor my box full of gas & repair receipts and let them figure it out.” I’d always tell them “The auditor will just hand the box right back to you and inform you that you don’t have a deduction.”

Simply viewing an email will not infect your computer. However, clicking on links or opening attachments can. Even when I get an email from a a company I do business with, I don't click on the links. I go to their website and login.

Prior year returns get my current-year rates, adjusted as always for complexity of the return in question. Won't even look until after 4/15 or they can go elsewhere. Have a new one this year, two amended returns, sent by his brother who is handling their now just-passed mother's final return. He's fine with waiting until May, after discovering an error for 2021 & 2022 (thanks, TTx - the gift that keeps on giving).