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CPAs and EAs have complained forever that half of the issues on their tests are things they will never, ever see in practice. Probably true, but you never know. I'm sure I forgot a lot of these things that I "learned" studying for the SEE, but guess what? Every so often an issue comes up and something in a hidden brain cell tells me there's a rule for that. Then at least I know to look it up. So, while some tax areas may seem remote and you'll likely never encounter them and will forget the details, knowing that they exist may be helpful someday. I am resigned to the fact that the industry needs regulation. We have all seen the shady and/or stupid things that some tax "pros" produce. And we've all have potential clients walk because they didn't like the result. Where do they go? Back to the jerk who lets them deduct commuting miles, "uniforms that consist of jeans or black pants, nonexistent education, you name it.

Posted February 7 · Report post ...a PROSPECTIVE CLIENT...Friday. Said he was single; gave me his docs (two W-2s, small pension, bank interest) which I plug in the computer and give him the refund amount. After a pleasant 20 minute chat I told him to come back in three days; he starts to leave, turns around, and says: PC: Oh, it don't really matter, but I guess I'm supposed to tell you - I sold a house last year. BB: Your house? Your personal residence? PC: Naw, my uncle died and left me his old, fallin'-down rent house. It wasn't worth but $10,000. BB: Oh, well, uh; we have to put that down. PC: No, no, it's okay. See, I let this guy have it for just what my uncle owed the bank on it. I put it on a land contract between him and me. BB: Well, we still have to.... PC: No, you don't understand. He cain't pay for it all at once, so I'm helpin' him out. He pays me exactly what the bank payment is ever' month and I turn around and give it to them until the $20,000 note gets paid off. I never get no money to keep and so I don't make nothin' off the deal. (My) Failing to grasp this irrefutable logic exasperated him. He guessed he'd have to go somewhere else where they knew more about taxes. And out the door he went. May 25th PC MYSTERY SOLVED (I THINK) Re: this guy (above) who had the inherited, run-down, under-water rent house – this week a lady I didn’t know stopped in saying her only income was social security and had not filed in years, but asking should she have filed and paid taxes on a $5K life insurance policy her uncle left her. The departed uncle part rang a bell -- turns out she’s the PC’s sister. While glad to hear no tax was due, she complained bitterly about ungrateful Unk leaving his old rent-house to her brother instead of her. Claims she did lotsa stuff for the not-so-dear departed, conniving bro did zilch, and it was a damned outrage she didn’t get the house too. I said she probably got the best of the deal considering the liability (I guess that’s okay to say since he isn’t my client and paid me nothing). She said “What liability? Uncle XXX paid that house off years ago! My brother sold the house to some dope who watches those TV fix-up and re-sell shows and is paying off a big note that my brother owes the bank.” I swear, sometimes I think we independents attract more blowflies than honey. I know (well; I think) he would not have approached HR/JH with this story and I guess they lump us in with the kitchen-table crowd (25 bucks-all comers). Probably thinks that my "EA" means "et already".

My 20-year client called this week, gonna sell her rental, adjusted basis about 20,000, for 90,000. Congrats! "I'll just make enough to pay off the heat and air unit I think. Just wanna know if that'll cause me to pay back SS benefits." Ummm. (I seriously had to sit there a minute, thinking, this is your one and only concern right now??) No, you'll get to keep em, but they'll be taxable. And I will be mailing you a pretend return so you can see how much of your heat and air conditioning money you best save up for yer tax bill. Love, Rita, EA (Even After 20 years they think if they say they didn't make anything my job is to tell IRS that.)

When you look at it from the side... it is leaning backwards about 4 or 5 degrees as well. Rich

So you had yourself one GREAT escape, didn't you?

E-services went down on Tuesday, I believe, and at some point they seem to have decided not to bother bringing it back up since they were planning to shut it down anyway. Try next Wednesday...

1. Reminder: e-Services, Transcript Delivery System Unavailable Memorial Day Weekend The IRS will conduct systems maintenance beginning Friday, May 26, 2017 at 6:00 p.m. EDT and ending on Tuesday, May 30, 2017 at 5:00 a.m. EDT. During this time, e-Services Transcript Delivery System, TIN Matching, e-file and ACA applications will not be available. Mark your calendars for June: E-Services also will be unavailable from Thursday, June 15 at 6:00 p.m. through Monday, June 19 at 6:00 a.m.as it moves to a different platform as part of a technology upgrade. All applications – including the Transcript Delivery System and TIN Matching – will be offline during this timeframe

OK, Rich! Thank you. The poor sign; it could use a cane, or some crutches.

If it takes you 4 to 5 hours, then you are under charging.

Oh, I've been hugging all wrong.

Once someone asked me how much I charged. I gave him an estimate and he said "That's pretty steep. Last year I only paid $15." I recommended that he stick to that highly qualified tax preparer.

Since you didn't say anything about the client being disorganized, having an inordinate number of entries on B or 8949, or otherwise a pain, I'm going to say I can't charge this price here in rural TN. But I am not THERE, where you are, so this information is not really helpful to you, but hey, I like talking to you all. I think you'd have a much better handle on how you compare in pricing by calling some preparers around you. I know we on this Board all EARN more than we make, but until IRS makes it really important to file accurate returns, we are stuck with charging what we can make. Maybe this client is one of those who are never happy, but the perception he has is that this price is too high for him, and he will go elsewhere if there is a less expensive alternative. That's the way that cookie crumbles. It's one thing to know your worth, but it's quite another thing to watch business go down the street. I personally would rather charge $275 and HAVE a client than know I'm worth $325 but be sitting here watching the client parked over at Tammy's X-Treme Tax Returns. Tammy is not going to the store for me.