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One year, one of my Realtors (and they are special anyway), was all set to deduct her new houseboat as a business expense. Entertained clients on it. Printed articles for me and everything. Guess she knew I would be a problem. Her return was already an ordeal. Cause, you know, she's a Realtor (don't know why we capitalize that). I didn't have the energy to argue with her. Told her I was getting her an extension, and she needed a new preparer.

My last attorney client is quitting law to become a yoga instructor. She doesn't care about the income difference, and I tell her that her sanity and joy at what she does is priceless.

I had a perfectly good client that is another client's daughter; then she married Mr. I know everything about taxes and how to deduct anything. Since they turned their old residence into a rental house, he declared that they have a business and that they can deduct their trips to Florida, Mexico, Wyoming and Missouri as investment expenses because they are "looking for rental properties".$4,096.76 for travel.They threw in a page from a website from some guy that wrote a book of deductions for landlords that says that you can deduct long distance travel for your rental activity, including meals, airfare, etc, "If you plan your trip carefully, you can even mix landlord business with pleasure and still take a deduction." It goes on to say that IRS auditors look at this and that they need to properly document their long distance travel. They are documented by receipts that they have written "rental search" on. So I printed off IRS pubs, etc. to show them that the travel would need to be capitalized if they ever found what they were looking for. I'm glad that they are trying to do research, but they are too cheap to even buy the guy's book. Maybe it would have been more explanatory than his website trying to suck them in. I'm sure that I will be in for a fight when they come to sign, but I'm prepared to show them the door. Her daycare is suddenly showing a large loss this year now that she is married. Lord knows what crap is in there that I don't see. Thanks for listening. I just want to get this one done and off of my desk.

Right, me too. There is never a time from the last week of January on, that I am sitting around wishing people would drop off their stuff. I'm two weeks behind from about day 1. So I don't tell people get it in by x, because it wouldn't matter if they did. And, yeah, you're not in line until I have everything. You know the guy whose casket I'm taping together from banker's boxes? He just THINKS he brought his stuff Feb 28. I'm still waiting on stuff from him on 3/22. There's no date on his folder yet. I do have the right number of bankers' boxes, however.

That is so true. Think it through. The preparer who knows the least takes the longest, as he has to stop and read the form, maybe go to the instructions, etc, while the knowledgeable and experienced preparer spees through the same form, knowing what form to use, which line to use, etc. Should the slow newbie get more, because he took longer?

It's a trademarked word...because they are that special.

The expenses were real. Each had income of about about $500K....the expenses even more....on a C. No tax due.... One was audited and only owed about $3000. I just didn't like doing a return for 3 men who I knew were pimping...and importing Eastern European women. Their official occupation was "Entertainment entrepreneurs". I didn't about the legitimacy of their deductions....I did care about me being a part of it.

Yes, Yardley. His W-2 ordinary income is part of his cost basis. A "same day" or close to it sale of his shares would result in zero gain/loss, or a very small loss due to broker or transfer fees, if charged. Do report on 8949/D even if your client didn't bring you a 1099-B (use "C" if no 1099).

I always found it better, rather than firing them, to just raise their prices enough that I could smile when I saw them. After all, now that they have this "more complex" return, naturally it will cost more. They either chose to leave or, often, they actually value you more when they pay you more. Sometimes they just decide it's not worth the extra cost to try to save a bit of the taxes. All are wins.

When I give a quote, I always add that this assumes "no surprises".

Any work in after March 25th is always put on extension at my office. Some work I may get done by the 15th, the others well that's the purpose of the extension.

I wish that I didn't fell like I have to give them a deadline, but I've learned from the past that if I don't have a firm cutoff in advance, that they will push me to the very last minute and then still expect it done. For the most part, my extension clients will always be on extension, because they refuse to file in April. Since the season started so late last year, I had more extensions than ever.

This may not make sense, but I don't WANT everything to be in by March 15, or March 20, or April 1. I'm afraid the 60 or so extension clients WOULD get their stuff in by the cutoff, and then I'm obligated to get their returns done. Right? Well, I can't. I do all I can already; it would put me in a bind to have a bunch more stacks laying around, and if the clients met the cutoff, they would expect me to do the same. I don't want to impose that on myself. Just throwing that out there. Your mileage may vary.

My cutoff was 3/17. I put it in my letter and must have frightened my client's to death. Almost everything was in before that. I am still waiting on a few K-1s, but at least now I can work and know what I have to do.

The occupation wasn't "pimp"....they were hosting events which required the presence of beautiful foreign women. The auditor believed it anyway.... They looked right out of a movie.....black guys in leopard pants with big gold chains...with beautiful Eastern European blondes on their arms....but they had EINs for their "entertainment promotions" endeavors! Oh...give me my foreign PhDs

All of this is business property? Are any of the items on the fixed asset schedules? Assuming this is all business property. The fixed assets would be "sold" for the net recovered insurance payments on the 4797. It will flow from there. The inventory will be "sold" at the net insurance recovery amount as well. This will flow through the inventory lines on the return. He was not "paid" the deductible. He only received what they paid him. Lottery tickets, cash and "fine" for terminating contract should be listed as business expenses - something like "stolen merchandise and cash not reimbursed by insurance" on the tax return. Same thing with the unauthorized withdrawal from the bank. Document and get ready to show the police reports, pictures of the damages, insurance reports, bank refusal to pay the unauthorized withdrawal, and other supporting documents in a year or two to the auditor. Charge accordingly. Tom Hollister, CA

"Bring me all the expenses and items you mentioned. I will account for them appropriately on your tax return." it is a line that is accepted 99.99% of the time. And it is totally truthful.

So as I'm going thru the interview with a Sch C client. He suddenly begins figiting and says man I should of taken a leak before I left the house. Maintaining my composure, without looking away from the screen I politely mentioned there is a speedway just down the street. Client leaves, thankfully considering my kids are in the house portion where the facilities are located. In his absence I continue thru the return, typing in most of the return including the business portion etc. Upon arriving back he suddenly finds another receipt book in the truck along with a shoe box of expenses? This of course is after giving him a quote of $90.00 instead of the typical $120.00 plus the cost of the Schedule C. Thinking I was doing him a favor by giving him a price break for a simple Sch C. Then the kicker of it all. Why do you need a copy of the Social Security Card, nobody else has ever asked for that. This was a week ago, for some reason he's still looking for a lost w-2 argh! I'd hate to see what he would of brought in if he had to take a dump! lol. Rant over.

Quotes from Will Rogers: "There are men running governments today who shouldn't be allowed to play with matches." and my personal favorite (and back when the top tax rate was about 6%): "I am proud to be a taxpayer in America. But I could be just as proud for half as much money."

When I give a quote I always tell them the price is subject to go up if there are any additional forms or items needed to complete their tax return. I make sure that I tell them the quote is an "estimate". Each and every "OhYeaH I forgot to mention" comes with a price increase.

Q. What does the Lone Ranger say when he takes out the garbage? A. "To the dump, to the dump, to the dump dump dump." Q. Why do sea-gulls fly over the sea? A. Because if they flew over the bay they would be bagels! Q. Did you hear about the calendar thief? A. He got 12 months; they say his days are numbered Q. What kind of shorts do clouds wear? A. Thunderwear Q. Did you hear about the vampire bicycle that went round biting people's arms off? A. It was a vicious cycle.

You did not raise it enough! You still don't let them take a bogus deduction, you just confuse them with complex BS filled with lots of tax terms they don't recognize, etc. You can let them give you those 'party expenses', they just never get to the return.

I look at my stacks every year. This year with Congress' sequester delaying the start of tax season, my stacks were growing by 1 March and I considered telling everyone who came in that they were going on extension, just in case. But, I seemed to be on track, so I didn't call it then. Well, at least 20 returns, including businesses, multi-state, 1099-Bs with hundreds of pages, etc., all dropped off over the next seven days. I let it go through the weekend of the 15th and then started saying Extension. One is arguing with me as she was already on an installment plan before she came to me a couple of years ago and thinks she needs to file by 15 April (I think she can file an extension, but have been pushing to get hers done each year). I feel overwhelmed but will probably finish those I promised but still have enough extensions to keep money rolling in through 15 October. Waiting until after St. Paddy's Day was probably a mistake, though. So, next year it's probably 15 March or earlier for sure. I also don't publish my cut off in advance. If people ask, I say prior to 1 March is great and prior to 15 March with everything turned in is probably doable and after 15 March is almost always an extension. I guess when people turn their calendar page and realize it's March, they suddenly think they better drop off their tax materials. But, if K-1s or their biz expenses or corrected broker statements are still dribbling in -- I date their folders when I receive the LAST piece of information.

I agree with Lion, I'd show it just to avoid a later CP2000. Sometimes IRS gets these right, sometimes they do not, and just react to the Form 3921.

If I remember correctly, these are reported on a separate W2 with accompanying explanation paperwork. I haven't done one of these for a while, but I don't believe you have to do anything with the Sch D because they are reported as ordinary income. (Something like that) Someone who has done one of these recently can jump in here.

Today I started working on returns that were brought in on 3/12, so I suspect that I will get to everybody that drops off next week. I don't have a set cut off date. I don't work any harder as the "end" approaches. I like getting extensions and try to reassure clients that it's not the end of the world. And if it is the end of the world to them, oh well, goodbye. April 15 is a pretty laid back day for me.

One of the people I had a huge problem with last year because she owed money (and really doesn't make much..or have much to spare)...had her withholding increased this year....and she got a decent refund. She couldn't thank me enough! That one made me feel good. :)

I am charging for more than the time I spend. I am charging for what I know, more than what I do.

Thank you for taking the time to give an opinion. It really helps.

I always had this problem and some of my clients told me that it only took X amount of time and I was charging them a lot. A few years, out of the blue, Mark came to my rescue. Now, I check all the information that the client brings and I ask about his address and then I say, I need to concentrate on the computer so if I have a question I will ask you. I do this because I don't like to lie to my clients. So I deeply concentrate on the computer and start checking my facebook. As a matter of fact I have been on facebook for 20 minutes... oops, my concentration time is over, let me print this guy's return now.

I agree with KC, I don't type "Michael J Smith an adult" on the returns. I take it back... I enter the name exactly the way it is written on the SS card or ITIN. If any of those document reads "an adult" on the full name, I will type it exactly the way it is written.

Yes, I see a problem, too. I live in Rural TN, where the tech savvy thing is not a priority, most of my clients have zero interest in having their tax return on anything other than paper, and I would not have a single client left if I charged $520 an hour. Not many would stay if I charged $260 an hour, and they knew it. Actually, I wouldn't say I have a problem, I just have a completely different work situation here. I wouldn't trade with anybody, either. My office manager is me, and I'm ok with that, too.

Yes, you missed these: Find the form you left in the copier. Curse. Take out the heavy duty staple. Run another cover sheet because you wrinkled the old cover sheet, plus you will never hit those holes when you staple again. Recreate the e-file because ATX thinks the return changed. Try to staple. Realize you are out of staples. Curse. Reload heavy duty stapler. Put a Band-Aid on finger stabbed with staple(s). Realize that you stapled the 8879 to the preparer copy. Curse. Run another 8879 because it's a PITA to remove heavy duty staples with a injured finger. Recreate the e-file because ATX thinks the return changed. Curse. Get on here and defend your honor.

I am a gambler as long as it is legal so this is how I gamble with these people. I work hard on their return and then if they want to go somewhere else, I return their papers. I know my prices and services are excellent and if they decide to go somewhere else, I let them go. I suggest H and R block because they will charge them triple of what I charge. So I gamble with the fact that I might work without pay but I make it up with the ones that stay with me. So if I have 20 new clients this year and I give back the paper to five of these clients, I feel I am winning because I kept 15 clients. I run my business as a UNIT without subunits. If I make each return a business unit, them of course I will feel bad when I do the math and have these 5 business units with a big loss.

We interview and input client information using dual monitors, but they NEVER walk out with a return. After they leave the interview, we finish, assemble, scan, invoice, etc. behind the scenes. They return to pickup when called.