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I'm "only" 56. Does that qualify as younger folks? I started doing this at 14. Took sometime off for college and a short career in banking/trust. Left banking when my job was consolidated to another city I did not want to live in. Stayed home with my son for a few years. Now I've been back since about 1997.

Jeez, I hope there are some younger folks on here or this place is going to get really quiet in a few years... unless some of you are planning on working until 70.

I'm thinking of winding it all down by 70 (that will be in Feb 2018) And I'd say I'm already on a glide path - not accepting new clients and shooing a few out the door already. Just not sure if I'll actually work the 2018 tax season, but it's too early for that decision. Hope everyone has a safe New Years Eve and a prosperous New Year.

With Gail in Virginia as I am "only" 57. However, about a year and a half ago I hired an old classmate of my older daughter's and am training him to eventually take over the business. I figure in 6 - 8 years he will be ready for most of it and I can come in once or twice a week to consult on the oddball items.

I'm 79.

I quit working at 84.

I plan on working until 70 - next March - and beyond. I still mostly enjoy using the brain cells I have left and some of my clients have declared that I cannot retire until they die. That won't happen for some of them but sadly has already happened for a few. I did spin off my businesses when my other CPA retired 4 years ago, though. No more payroll or monthly or quarterly reports to do. I didn't want to hire another and chose not to do it myself so my practice is quite manageable now. For AICPA and state society purposes, I am retired as I work primarily during tax season. You are correct, though, that we do need some younger folks here. If this forum disappeared, I would have to retire because this is my 'firm.' You are my colleagues and research fellows. And friends...

@Gail in Virginia I remember those copiers! If you approached them just wrong you got a strong blast of ammonia right in the face. I was a young engineer and we used a large-format copier for blueprints. My nose is wrinkling up just thinking about it, lol.

I am well past 70...............

I saw there was an Adobe Flash update this morning so I went to Windows Update and there was KB3035583 (the only windows update number I've ever memorized) as a recommended update. Be careful out there!

You should gather up an armload of papers and ask if the prep fee is a dollar.

Old-timer here, too (nice to know I've got company). Started nights for dad-'68; 1970-began half-days (employer ok/Jan-Apr) plus nights 'til 1-2 A.M.; full-time self-employed 1980 and later. Agree with Nebraska about change; kept waiting for it to finally let up, but (as you know) it just intensified and now there's credits for everything except alms for sots (probably next). We typed returns but I was a lousy typist and carbon paper mistake corrections were awful, so I do like computers, EF, and laser printers. Would quit except then (money aside)...do what?

My first season was in 1979, but I was still an intern in college. We did them by hand first in pencil and then finalized them after they were reviewed. I don't miss doing them by hand, but I do miss being able to rattle numbers off of the top of my head, because the rules were easier and didn't change constantly. I used to be able to memorize almost everything, but now I have to look everything up.

Car Talk ends its program every week with a long list of "production workers" whose names are puns. Their statistician, Marge Innovera (margin of error). Their driver, Pikoff Andropov (pick up and drop off). And a dozen or more others, each one worse than the one before. They are hysterically funny and go by way to fast to write down.

SURE, give out even more info for identity theft.

Gee Thanks!

You are well qualified in whichever category you want to put yourself. You are experienced and knowledgeable as anyone on this board.

Here's an AICPA article on S corp shareholders, confirming what others have said.

Wow. I just turned 59. No way I can keep doing this till I'm 70. I might work part time for some other preparer(s), if they'll have me.

It's still a partnership, they're just losing the liability protection of the LLC. If it's not expensive to keep the LLC, I would recommend they keep it. Also, they would need to go through a title change to put the property in their individual names, or a new partnership name (non-LLC).

I suspect one reason states would like this info is to help them when dealing with residency issues. For example, work in TN, which has no state tax, but live in AR or MS, which do, you might be tempted to use a PO Box or a TN friends address on your W2. But the drivers's lic would show you up fast.

The State of Ohio is requiring DL information for most taxpayers. There is still confusion in the information from the State about which taxpayers need that information. There are other states instituting the same requirements. Hence, the place for input of the information.

All clients, can provide an actual 1095-A from the marketplace. In the past 3 months, at the firm, we have seen every excuse from clients that say "I can't get a copy." After standing our ground and saying "No 1095-A, no return," miraculously, all (approx. 20) people were able to produce the "can't get one" form from the Marketplace. Second, anyone receiving a1095-A cannot check the box proclaiming full year coverage on the back of the 1040. Depending upon the situation, anyone receiving a 1095-A must include Form 8962 ore 8965. No exceptions.

The IRS is informing individual taxpayers that due to these extensions, they may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their 2015 individual income tax return. While the information on these forms may assist in preparing a return, they are not required to file. Like last year, taxpayers can prepare and file their returns using other information about their health insurance. Individuals do not have to wait for their Form 1095-B or 1095-C in order to file. Now that the IRS has extended the date that providers and employers have to to give 1095s to their employees until March 31st, we will have to decide what "other information " satisfies due diligence .

I was working for H&R Block in 1972 but only checking returns and making copies. Of course, my mother owned the business and I was in Junior High School (we still had a junior high then instead of a middle school.) But i have not worked continuously in the business. The first returns that I did were pencil and paper. Very thin paper with a special pencil because the copier was ammonia based and used special paper.

An LLC is a creature of state law and has nothing do to with how an entity is taxed, whether it be a corporation, partnership or a sole proprietor.

Since the same Rules and Regulations apply, nothing is changed.

Merry Christmas

I always liked their accountants - Dewey, Cheatem, and Howe.

Merry Christmas!!

I actually started in about 1973. However, the use of pencil and paper as well as the unavailability of forms, greatly limited production. I slowly evolved over the years to the purchase of a copy machine (such bliss) to the purchase of my first computer. In the course of working for another accountant, my own practice was beginning to grow. I was able to maintain a part-time Dental Receptionist job for 20 years because they were willing to work around my tax schedule. It finally became a case of give it up or give it your all. Well, I am still here in a new office addition. You really have to wonder when enough is too much. I hope I have the sense to know when it is time. Happiest and Healthiest of Holidays to all of you and Merry Christmas!

Dear Client, Why couldn't you listen when I told you on several occasions to not fill in the blank here? Why don't you EVER listen? /rant /sarcasm Folks, if you see a mushroom cloud coming from my area, it's only my client reacting to the email I sent. Maybe we'll make the news. Client created a really nice (more sarcasm) dividend for himself out of his C corp. Feel free to add your own rants below.

Dear Client's Investment Advisor, How come you and client both called in early Nov about withholding from the RMD, both got my messages about the Fed AND state amounts, and only managed to withhold Federal tax when one of the points of your call was to tell me that withholding state taxes was possible this year? How did you manage to not withhold any state tax even though I gave you the exact amount in dollars and as a percentage? How is that we've talked about an annuity payout at least 5 or more times this year, went over the gross, withholding and net numbers each time, and yet you still failed to tell me that the a portion of an amount that was to be Federal withholding was shifted to the state? Why don't YOU tell the client that she will owe taxes, either on estimate or with the returns since this was your doing? Oh, you want me to project 2016's tax liability and adjust that annuity withholding now when you can't give me solid data for 2015 without the numbers continually changing like shifting sands under my feet? Why did you set up the annuity payment to be in very early March of each year when you know this is a complex return that couldn't possibly be ready or projections done before the distribution is made? Why must you wait until the very last week of the year to make the other RMD? No it's not an inconvenience at all. Remember how you stubbornly insisted that you wanted to control the timing of the RMD each year and not set it up for automatic calculation and payment through your computer's system, and then that very first year you completely forgot to make any RMD to this client? Remember how in Jan 2013 you nervously called me and asked about the provision that would allow the RMD to be paid to a charity to get your behind out of trouble for the 2012 missed distribution? Remember how unhappy our client was about giving that to charity? Remember, do you? Client is presently out of area for the holiday, and if she decides to stay on beyond the 4th quarter estimate due date, at least I know that she has enough paid in that she won't be subject to an underpayment penalty. I thought I gave up babysitting as a teenager.

Dear Client, I am so happy to hear that your spouse has finally retired. Nice to hear about the severance and the rollovers and distributions from your retirement accounts. Remember when we talked about this in April (while completing your tax return at the last minute) and I asked you to set up an appointment with me in the summer to go over your potential tax considerations these moves? Asking me to cancel my Christmas Travels to meet with you and your husband to go over this is totally not going to happen. You have a Merry Christmas too. Tom Newark, CA

Dear Client: Thanks a bunch for coming in (surprise!) on Christmas Eve Eve to get me to figure the tax on the gain from the sale of stock you are about to make. A phone call would have been too easy. Thanks also for not having a clue about your basis; it's overrated anyway. Psshh. Thanks most of all for telling me you will save $10,000 "just in case" after I figured that the tax will be $6,000 if your basis is zero. Your confidence in my advice is appreciated.

Assistant to the PR Specialist Lotta B. Essen

I watch it on the radio every chance I get.

Me too, Gene! I got the puns OK but couldn't figure out how it related to cars. Not a program we watch at this time.

Only those preparers with active PTINs may transmit returns. It's not unusual for the IRS to shut down their systems for maintenance around the end of the year, and that has included the PTIN system in prior years. It usually lasts a week or two and then reopens.

I absolutely ADORE the "Dear Client" letters and over the years have saved several of them in a file that I read when I need a laugh. To back up @rfassett's comment above, I have to keep reminding myself (and/or re-learning the hard way every couple of years) that I simply can NOT care more about my client's taxes/accounting/whatever than they do themselves. That said, "Dear Client, Thank you SO very much for dropping off all your tax documents for 2014 at my back door yesterday. I particularly appreciate that you have, at long last, claimed also to have included the information for the 1099-MISC's that were due to be mailed by 1/31/2015. You may note that I said "claimed" and that is because I have not yet BOTHERED to open said package. For all I know it has a stale cheese sandwich in it and not much else. I hope its contents are worth more to me than a stale cheese sandwich but frankly don't hold out much hope for that. By the way, I won't be looking at it this week. Or next. I'm busy. Toodles!"

And "Abby Normal" is far easier to read and spell than Frau Blucher (neigh!!!!)

Merry Christmas to you as well, Elrod -- and to EVERYONE here.

Dear Client: Thank you for calling me to tell me you had another call yesterday: "Hello. This is the Internal Revenue Service with a message for (pause) YOU." No, IRS policy has not changed within the past two weeks. Yes, this is STILL not IRS, and IRS will STILL not call (pause) "YOU". They will send "YOU" a letter with your actual NAME on it. The information in the letter may be completely wrong, so bring it to "ME," but your NAME will be correct. I will call "YOU" when this changes. Yes, "YOU" will be the first to know.

Wow! Dear Client letters and it is not even tax season yet. Hope your day gets better! Merry Christmas! Oh - and you have no ownership in the client's doing when they act contrary to what you tell them. That mind-set has helped keep me sane (or at least very close to the border) for the last few years. Took me many years to come to that realization. Again - Merry Christmas to you and yours!

I'd just use one; it's the carryover that is pertinent, not which house it was associated with.

Squee! Momma and newborn from this morning. http://montereybayaquarium.tumblr.com/post/135606363553/the-squee-heard-round-the-world Newscast with video: http://www.ksbw.com/news/otter-gives-birth-to-pup-at-monterey-bay-aquarium/37059472

Ha! Henceforth I am known as Abby Normal. And let me be the first to say "Damn your eyes!"

What KC said. Carry over until used OR he closes the business. that's the limitation: if the business ends any un-used expense is lost.