Leaderboard

I bought myself five bucks worth of flowers at Walmart today cause I am a little "tensor" than usual and sick of winter. Plus I'm worth it. That's my lesson in "adding" a smile to your face. Got milk and Dawn "Escape" Malibu scent, too.

Just like arguing with my wife - I never admit wrongdoing, but it doesn't change the nature of the punishment.

I try to get things straight from the horse's mouth, but sometimes I discover (too late) that my information originated from the other end of the horse.

Actually, any non zero number divided by zero is undefined; zero divided by zero in indeterminate. Why you ask? 17/0 or -13/0 have no possible answer, hence undefined. 0/0 could = 17 (because 17*0=0) or it could = -.34 (because -.34*0=0) or it could equal any number--hence it is indeterminate but not undefined. Math lesson over

Zero divided by zero is undefined, and zero divided by anything other than zero is zero, my star pupil. I don't know why the red screaming error that we gotta put in the miles, then when you do, they divide incorrectly. Grrrrr. Where's my candy bar?

I have had a couple of those and was able (thanks to my WIP spreadsheets) to tell them, "Yeah, but last year I had all your docs in-hand by Feb 10th and this year you didn't bring them until Feb 28th." And with some, "Yeah, and last year we had to amend because you got corrected 1099-B's in late March and we agreed to hold off this year just in case."

Q: Why did the horse cross the road?..... A: Because somebody shouted hay! Q: What do you call a scary female horse?..... A: A nightmare! Q: What type of a computer does a horse like to eat?..... A: A Macintosh

Oh my! So very sorry, Gail! Obviously my brain and fingers were not coordinating on that one. Lion, I then take it that you agree as well? Hey, we're all friends here, one big, mostly happy, family. I know my mother constantly called me by my sister's name. I think it happens in larger families like this one.

My husband says that most of the hysterically funny/*stupid* videos on YouTube all start with someone saying, "Here, hold my beer and watch this..." and he has a point!

Remind the callers that, thanks to ACA and other significant changes, it's complicated many returns, slowing you as you work carefully to be sure you provide all your clients with the best in professional, proper returns. And that accuracy is more important than speed, because you don't want your clients to ever overpay.

OK - teaching math and debating what 0x0 or 0/0 or 0+0 or 0-0 equals or means and going to Walmart and buying flowers while at the same time asking for a candy bar and making plans to frame a print? Am I the only one working on tax returns today?

Uh oh, two math teachers giving us lessons....

Do it right or send him back to his Other Guy! Ask him for his calendar, driver's license, etc., to see where he lives.

Be careful the top two reasons that accountants in public practice get sued are Business Valuations and Divorced Clients.

I think it's infinite business use or indeterminate form - right teacher?

I think that as long as he working on his first 4year degree, has no drug convictions, and otherwise qualifies, he can take AOC. If he previously had a bachelor's degree, then he would not even if he did not use up his four years of AOC. As far as taking it over 4 years, as long a he is considered at least a half-time student, should work. IMO.

Pubs are not substantial authority. Go with the tax court decision. If audited, the tax court ruling will win.

For me, the returns seem to be rolling in... Some new clients, but the production has been well ahead of last year. I expanded, by buying another two practices, but with the combined billing, we are ahead of the plan, plus, we are at a 47% completed rate compared to 21% last year. With twice as many returns in the door than last year. Sweet! Rich

Thanks, everyone. He gave up on the guns. He's looking for receipts for the range and names and dates of customers. I figured that he was just trying to turn a personal expense into an employee expense.

I hate it when you enter 12,251 total miles and 0 (zero) business miles, and you get 100% business use. I don't understand why this is a difficult concept.

Are we married to the same person?

So pretty! Enjoy them. I know a lady who sells the most *wonderful* old prints on Etsy. Just got one of a wonderful cottage garden and am having it framed for my office. https://www.etsy.com/shop/RetroReveries

YOU KNOW WHO THIS IS FOR.......

My husband, back in high school, asked his dad for help on a beginning calculus problem. His dad looked at it and said, "You can solve that with tensors," at which point my husband declined and said he'd ask his mom (yes she knew calculus; she has an advanced degree in chemistry).

I'd be very careful about providing any information about this for the reasons already mentioned, plus there can be a wide range in a valuation for this kind of service business depending on its size. As Lion said, I'd point the roofer back to looking for that information through trade organizations that he can provide directly to the "requester" without involving you. Here's an interesting article about why these types of businesses have such low values, and at the end talks about how a roofer could increase the value of its business. You'll see from this that a roofer with a couple of trucks with signs on them and operating out of a small office will have a vastly different valuation than a larger one that has multiple levels of management, a sales team, a large number of roofers employed, etc. It is from roofingcontractor dot com. http://www.roofingcontractor.com/articles/84818-how-much-is-your-business-worth

I have more and more earlier. So, my stack is huge. And, clients are calling unhappy. "But, last year you had mine done by now!" Maybe I'll send the complainers to HRB.

I have been utilizing Drake Software for two years with no regrets. I find it very computable for large and small businesses. Considering for years I had transferred from Lacert to Proseries. Preferably for me Drake system outweighs the intuit software.

Yes, their only sin this year was to work toooooo hard. Especially the one that made almost 5K.

to drive some of us, uh, senior practitioners out of this business. I cite the continued major changes in the reporting requirements that some of us believe will not be fully understood and/or implemented before we take down our shingle sometime in the future. But the very real blaring proof of the conspiracy is the font shrinking on the W-2s and 1099s. Honestly, I find myself guessing at what the number might be and then I suggest to myself that that may not be very professional. So I get out the magnifying glass - and yep, I guessed wrong. Come on man! Help us out here. Some of us have eyes that are very well used and can not see those tiny fonts anymore. The fact of the matter - I am not a conspiracy theorist, but if I were...................I think they are out to get us! And while I ponder this, I keep hearing the theme that there are not as many young folks coming into this business to relieve the pressure at the other end. That has me very concerned. So carrying my conspiracy ideas a bit further.........well, never mind........................

Clearly, medical measurements should be ___lbs ___oz, not rounded at all. But when it comes to money on tax returns, I really think the difference if $97.50 is rounded up [as it should be] or down, is not going to change the tax in more than one out of a thousand cases, Or maybe one in ten thousand!

Right! Is that something specific to the medical professions? I took my dog to the vet and was told she'd lost weight and was 7.12 lbs so I'm thinking the tech meant 7 1/8 lbs. Nope, the .12 was 12 oz or 3/4 lb. So I'm standing there asking the vet about the entries and she's looking at me like I'm the crazy one. It seems some techs do this and others don't so there was no consistency in the entries to tell what was really going on with the weight because some entries were 7.50 lbs. That was enough to aggravate this bean counter!

Wow, Cat, that's a great idea. Thanks for sharing.

I would like for the nurses filling out their time sheets for this payroll I'm doing to learn that 4 hours 45 minutes is 4.75 hours, not 4.45 hours. Hope they administer proper dosages to their patients. Geez Louise. I dunno, KC, rounding may be too much to ask of people these days.

I googled out on the web and looked for any that were to the irs site. I have better luck than searching directly on the IRS site itself.

I usually think a blank receipt fro Goodwill is worth about $10. Clients usually thinks it's worth about $110.00 We usually compromise on $11.00

Short trip?

With four dumps trucks waiting, and more dirt in the field....

The blank receipts from goodwill drive me NUTS!

Rita, just have to tell you how much I love your posts! Your humor always brightens my day!

People who call to leave messages on my *home* office machine at 8AM on *SUNDAY* get put on the bottom of NEXT week's stack. Cause I can...

It's overrated. And I also put people who drop off on Saturday, when I am NOT open, on the bottom of the following Monday stack. Cause I can.

Yep, I have a few of those every year. I take their info, and sometimes I even enter it into the software if I find time. (Of course I can't do that with the ones who are "getting their stuff together", but I think they believe I can.) Then when the drop dead date arrives I tell them we need an extension. Funny how people will try to dictate our operating procedures if we allow them to do so. They will even apologize profusely, but their actions reveal they couldn't care less if we ever have any time with our families. It's up to us to manage this stuff - the client should have no influence over it. Personally, I have no interest in martyrdom.

Yes, just like they must think calling and telling me they are working on it means something.

My extension date is later but not by much. Does anyone/everyone else have clients that RUSH to get info in by the date -- and have it be incomplete? Thinking that gets them finished for sure, when my letter clearly states ALL information received by March 15th (or whenever) or no guarantee. Just your W-2 and nothing else guarantees *nothing*.

I had two of my divorcing clients come in today. When they first arrived, they both were so tense that I could almost see the daggers shooting out of their eyes when they looked at each other. The more we talked, I could see both of them became more relaxed with each passing minute. Finally, I told them that I needed to keep them both in my office for as long as I could and maybe they might not go through with the divorce. When they both instantly yelled "NO", I knew it was a lost cause. As the mom is the parent who the child will live with the majority of the time, and the court order calls for alternating claiming the child, I explained to them both that the mom will need to sign an 8332 for IRS to recognize the dad's ability to claim the child. At this point I also explained that as far as IRS is concerned, the release by her for the father to claim the child is strictly up to her whether she signs the 8332. I also told them both that if she claimed the child when it was his turn, then there was the issue of the dad being able to take her back to court to charge her with "contempt of court" and she should think twice before she would not follow what was agreed on and ultimately ordered by the court. So for the above reason alone, I'm glad I had both of them for the tax year of 2014. After 2014, if they both come back, they know their returns will be prepared according to IRS rules and regulations. Hopefully, my speech will eliminate one of their "friends" convincing them to disregard claiming their child in alternating years which will eliminate extra work for me....and also less disputes with each other as well.

Lion, my advice on this one is to listen to KC!! They come in together - or nothing. It sure does sound like he's trying to pull a fast one on her.

Clear to me you need to lose him this year. He seems to be telling her something different than he's telling you, so probably stalling her so he can file first. I'd tell her you are getting conflicting messages, without any details, so only if they come in TOGETHER and discuss it can you do the return.

Off the top of my head, I think I'd email him immediately and say I'm sorry but I can't prepare his return. No explanation, no excuses. I'd encourage him to find someone else as soon as possible in order to avoid his having to file an extension or settling for a rush job from a new preparer. He deserves an answer if he's pushing for an appointment and is really ready, so if you aren't willing to prepare the return he has a right to know. If he gives you any push-back, asking for reasons, etc you can then stall as long as you wish because you're busy and you've already done him the courtesy of trelling him where he stands with respect needing to find someone else. He isn't entitled to an explanation, but if he does ask for one, chances are he will admit to some of his shortcomings as a client and you cant turn those back on him if you are inclined to respond. Plus you can add others he omitted. Or you can just tell him his situation doesn't fit your client profile, etc, etc, etc.

Lion I have simple thoughts. If you feel uncomfortable ....or think it will complicate your life....walk away. This one sounds like too many variables....too many potential issues.