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So why does someone who makes $136,000 Need to make a early withdrawal from a 401k for $53,000. Year before it was 9,000 I see this all the time, especially with union workers, why is it? I have some people that make low wages so they make a withdrawal for a 1,000 or so to pay bills. But the number of people I see who make over $100,000 that do it, just keeps increasing. We're all going to end up supporting them when they get old because there will be nothing left in their 401K and SS will be bankrupt.

Warning:Rant ahead! I am........... amazed at the number of married couples that apparently hate each other and don't bother to hide it when they come see me. I about jumped over my desk and punched them both out. I am tired, crabby and so don't want to hear them bitch and moan about each other and their problems. I have had several couples this year that were positively oozing hate or disgust when they came in. Suck it up until you get out of here and then go at it!

When they say "I don't have any idea how to decide how much to send in with the extension. What would you do?" Me: You need to start with last year's amount owed and then think about any changes. Them. "I have no clue about any of that." Me: Send $5,000. Them: "WOW that is way too much!" Me: I thought you had no clue.....

If I'm working on an hour plus return (as many of us are this time of year), I like to close it every 30 minutes (or less) to create a backup. That way, if something goes wrong or I do something stupid, I haven't lost hours of work and can go back to an earlier point. You can even flag the records so you know where you were at the time that backup was made.

Too many people who are employed and earning more than a living wage are living above those means. The constant bombardment of advertising for the must have latest technology, clothes, cars, you name it, feeds into a mindset that says they 'need' whatever. That and gambling which has become ubiquitous. It is very sad, indeed. Pensions may have been a drain on some businesses but, as you point out, there may now be a class that will have nothing left but the remaining taxpayers. My family has always lived pretty well below our means sometimes to the dismay of our son as a youngster wearing clothes from K-Mart instead of name labels. He is now grateful and lives much the same actually in a better position with his retirement than we were at his age.

I just finished my last return, sent efile signature pages and return pdf via email for signature. Have a few on extension that have already been efiled. Just waiting to hear back from clients with efile signatures. Efile, and wait for ack. Have 2 pickups on Monday. I am so very tired. This has been the longest Tax Season ever (Not in days available), but slogging through. Best Wishes for everyone!!! Hope Monday and Tuesday go smooth and everyone gets to take a break. Talk to you soon. Yes, I did attend the Cornell Veterinary School Open House with my daughter today. So glad we went and had some special time together. Worth it being up to almost 4:00 AM!

Yup. I'm getting a lot more clients that are actually asking my advice about such things.....in advance! Gotta love these guys. Then I can bill and the clients get advice that saves them money, even if it's "should I pay my tax bill with a credit card or do an installment plan?". I'm selling my knowledge more and more, rather than just cranking out returns, and that feels good.

That was my first suggestion, but the GIRLFRIEND didn't understand it. I'm going to suggest it again. I gave her some phone numbers to call and made a couple of other suggestions/ But if he or she want me to do this stuff for them their going to have to pay me.

Thanks! My husband is 86 years old and had a stroke 11 years ago. We have been married 43 years and he has been with me thru over 35 tax season's. He has been basically in his Hoveround now for the last 4 years, and now his heart started acting up! (not a heart attack, but Congestive heart failure with afib) Always something new each year. We just take life a day at a time these days... Be glad to spend more time with him later next week. Pam

Running on adrenalin! "Zausted" I like that... Had to take my husband to ER Monday nite... slept in hospital everynight until I got him home Thursday. My family and friends are playing tag team with me taking care of him at home. Ah, April, What fun! He kept saying as he was having shortness of breath: That's, Ok, don't worry about me, I can wait till after the 15th. I told him "get in the car". Got his heart settled down... but many Dr appts to come rest of the month. Ugh... Taxtrio Pam

Arrghh! I knew that! It's not so much that I forgot . . . I merely failed to remember Seems I have that failure a lot this time of year. Thanks KC. You're my hero!

Questions to Ponder If a deaf kid swears, does his mother wash his hands with soap? If someone with multiple personalities threatens to kill himself, is it considered a hostage situation? Is there another word for synonym? Isn't a bit unnerving that doctors call what they do practice? When sign makers go on strike, is anything written on their signs? Where do forest rangers go to get away from it all? What do you do when you see an endangered animal that is eating an endangered plant? Is it possible to be totally partial? What's another word for thesaurus? When it rains, why don't sheep shrink? Why is the word abbreviation so long? When companies ship Styrofoam, what do they pack it in? Why isn't phonetic spelled the way it sounds? Why are there interstate freeways in Hawaii? Have you ever imagined a world with no hypothetical situations? How does the guy who drives the snowplow get to work? Why do they put Braille dots on the keypad of the drive-up ATM? Why is it that when we transport something by car, it's called shipment, but when we transport something by ship, it's called cargo?

I am ............................relieved. Two ready-to file's left, both to be picked up Monday. Six extensions ready to go but waiting for 8878's or bank info for payments. Phew! I can go give my talk tomorrow afternoon (yeah, I know, timing is horrid but I didn't set the bleeping/frikkin date) without being utterly frantic. Hallelujah!

I use dikes (different type of pliers) Great for grabbing the tiny wires of the staples. I'm glad to hear I'm not the only one with a tool arsenal in my desk drawer. Has anyone else posted a sign on the ceiling that says "answer not here".

...wishing the ATX Community a happy 7th birthday. This site was created April 10, 2007.

I often get the question about paying off the rest of their mortgage or credit cards. I have this response... "How is it smart to pay off 6% or 13% money with 40% money?" "When you called me, what did I recommend to you?" (The last one usually gets a total silence on the phone or they look away from me.) Most of the time the withdrawal puts them in the 25% bracket. Add 10% penalty and 4-5% for State and now you just paid 40% interest on the money you paid off those 6% and 13% loans with.

I'm sure I'll raise it. This is the first time I'm adjusting my base 1040 fee upwards on everyone I'm finishing up now, just for poop & giggles. Ha. And I'm not doing that much either. Just a chronic under billet, I guess.

Is it possible that in the first year you used actual and depreciated? If so then you can not switch to mileage, you will be stuck with actual until vehicle is disposed of. Just a thought!

I have a pile of 10....in disbelief that they owe money. I'm just waiting for reality to sink in. My deadline is 9 pm tonight....then they all get the "to avoid penalties" e-mail

I must of spilled my popcorn! Had 3 long ones come in on Friday, each extended and 1 easy late Saturday. Easy one be out the door, others still don't have everything they need. Had a nice little rush at the end so overall I'm happy. Happy Belated Birthday to KC and the Forum.

That's great news. Relocating is always a real pain. I once had to move across the street [long story] and was amazed that even tho we sent a letter to all our clients, I lost some because they "could not find you". As they told me the next year when we moved back, and they did find me! Go figure!

My thinking was that they accepted a slightly higher interest rate in exchange for not having to pay any (or as many) closing costs. As such, they are deducting the "negative points" via their normal interest deduction. Net result is exactly the same as if they had paid points at closing and then amortized them over the life of the loan. I'm sure the lenders are doing this to in some manner benefit the borrower. They are always looking out for the best interests of their customers. :)

It's where I get the extension numbers for the clients that tell me they don't know, can't be bothered to find their W-2s, etc.!

14 left that I haven't touched, and 6 that are mostly done and waiting on something from clients. Doesn't sound like much, but I am losing steam SO fast. To top it all off, I have to teach 'Love Your Enemy' to second graders in Sunday School tomorrow. I'm really going to have to suck it up for that one. Right now, I'm with Rita . . . shoot 'em.

Additional note... Prevent any contact of Base with top of shoeless foot, especially the front half....

So frikkin tired. But it's a beautiful day. But I'm out of RockStars & dog food, so I'm gonna have to leave the house at some point. The dogs got cat food this morning. Loved it!

Pliers, what a great idea! I've been using my teeth. Not such a great idea.

Yes, as Ron White said "You can't fix stupid". http://www.youtube.com/watch?v=fL6wbsGx9qw

Ms Tabby, Looks like a little Fruedian slip in that spelling... I review what the client might have as total itemized deductions on a joint return, and if there would be enough to itemize, then I itemize. If not, I go Standard Deduction. Rich

New client this year.... Have the same last name as me. That was interesting... So, as I am looking over the prior year return, I ask for the birthdates of the children. And one of the dates is 9/17, which is my birthday! And out of 450 to 500 clients, he is the only one with my birthday, and he shares the last name... Cool. And, they were happy, and wish they had stopped in years ago... Rich

Cutting board and small hammer (with the screwdrivers in the handle) lives on the conference table all season; great for flattening recalcitrant staples including new client's prior-year returns. Can also be used as a small child toy (on the floor) - they love banging things. Penknife in top drawer of each desk, for the envelopes and packages that come sealed to within an inch of their lives. Pliers to join the crowd; too many broken staples pain-stakingly pulled by hand this year as in any one instance that is faster that way than going down to my toolbox.

don't believe everything you are told....do an online ss4 and get a separate ein. unless things changed recently...we have clients 4 or 5 eins. for various sch c's

I am Happy. Yesterday, we had the office doors open for fresh air, clients picking up returns; silly humor from being tired; AND I found a fantastic new office to relocate to. Just a few more days . . .

Happy Birthday to the KC & ATX Community (Eric). Thanks to you both for all the work you've put into this forum over the years. Happy Birthday to SCL too. Sorry for the belated greetings to you all.

Ditto. Happy B-day to this community, KC & SCL. I can't believe it's already been 7 years. My how time flies.

Happy Birthday KC and SCL. I too remember when CCH gave us the boot. Thanks to Eric for keeping us all together.

You cannot grow something where there is no fertile soil for the seed to land on. "IRS regulations do not allow it." "If you disagree, call, write or e-mail your congressman." (chances are he has no idea what Congress means, much less who his Congressman is) Do not waste your time trying to educate the "not willing to change my mind for any reason" people.

File extensions, send a sympathy card, and include a note that you will contact them in a month or six weeks to finish up.

We don't even have four months any longer for tax season. By the time IRS opens up, then you have to wait for the 1099's. One of my Wells Fargo client's has had four amended 1099's already. Several of mine had problems even getting 1099R's. I am seriously exhausted.

HAPPY BIRTHDAY COMMUNITY

Happy Birthday, ATX Community and its parents Eric and KC !!