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Showing content with the highest reputation on 04/20/2018 in all areas

  1. I also work year round and agree that helps with the let down phase. But I experience it some, too. I have a pile of things to do yet, and I admit I have very little motivation. I think Gail phrased it very appropriately: we're in a pressure cooker during tax season. I know many of you are better business people than me, and for the most part I'm ok with that. I have a very comfortable life. I work six days a week for ten weeks, but I don't kill myself during tax season. I come out of it looking like death on a cracker anyway, I think mostly because I spend a lot of time chatting with clients, and I'm an introvert. I mean, come on, people are idiots, why am I chatting with them?? I wonder how these preparers do 1,400 returns, half of which are entities, single-handedly, twenty minute appointments, study for EA exam at the red light on the way to the testing center. Oh, and this is their side gig. I get a little jealous. Then I remember they are full of sh*t and lying thru their teeth, and I feel better.
    8 points
  2. I don't feel like I slow down until sometime in May. We have put off bookkeeping for some of our clients that can, and have quarterly payroll tax reports to do, plus the returns on extension and the several 990s that I do that are due May 15. So I usually get to come our of the pressure cooker more gradually, which I think helps avoid such a sudden let down. This has been an incredibly hard season for me, however, and I am looking forward to some down time to recover and re-think some priorities. So many of my clients have been sympathetic and supportive when they found out that my mom (who was also my business partner and mentor and sometimes chastiser) passed away Feb. 1, but I really wanted to just not talk about it with them. Sometimes I find it very hard to accept sympathy without going to pieces.
    8 points
  3. After quite some time, I figured out to just be very thankful for any successes. I generally do not discuss my work with anyone other than a few close friends, as my "discussion" tends to be either about horrible/awful situations, or terrific successes. Many do not have much success to discuss, and can find it uncomfortable to hear my successes, or to hear the corresponding lows. The part I have constantly work on is to "let go" is how rotten some people can be, and not to be the guy who is always talking about horror stories... After a few decades, I accept my preference for the high/low style, versus the ride the middle. My actual stress time has been compacted into Jan and Feb, but issues can pop up anytime. My family has adapted to my schedule, and supports me. I have also, finally, learned to be able to turn off if needed, and accept the reality is there are no accounting emergencies, all things can be dealt with later, in a calm manner. Maturing in both internal and external age is a great teacher... the older I get, the more I can take life as it comes, and to remember to live it while I have the ability.
    6 points
  4. After keeping pace with all the hustle and bustle of tax season, when it ends, I just keep going. Many people depend on me all year, especially friends and family, so I need to keep myself healthy. I don't have time to be depressed or even to think about it, I have a plan for everyday and try to use time management to my advantage. I keep good notes to make sure I finish what I started. I work for a friend who has a small consulting firm with 2 employees that I run all the financial aspects of it, I guess I'm a controller, but the work is not challenging or time consuming, but it keeps me involved in the field. I have a lot of outside interests that I always try to fit in, all work and no play makes for an unhappy me. I do have some consternation about the future. I have a family member that will be needing me more and more as time goes on. I'll be there for her, but am I depressed, no, a little worried, yes, about myself. That's why I have to stay strong and I am doing everything I can to prepare for the challenge and live up to my purpose of being here, at least that's how I rationalize it.
    4 points
  5. I go through a "withdrawl". Yawn the whole month of May (after payrolls)
    4 points
  6. I think part of the emotional letdown is that for months now you have been building up for the race, focusing all of your time and energy and thoughts into it, and now it's over and you've crossed the finish line. Think of those runners in the Boston Marathon on Monday. They spent months training, a few hours running, and now what? Go back to running their 5 miles a day or whatever they do, it's just not the same. The other part is that for these few months, we have been the most important person in many of our clients' lives. They need us, depend on us, confide in us, and now we're just another service provider. This can be a real downer. Think it through. No one can keep up the pace we do during tax season all year long. Would you really want to? Not me. And while it does make us feel valued and important that so many clients trust and depend on us, that responsibility is what overwhelms us as tax season draws to a close. I am so looking forward to a normal life after the past few weeks. It does take a little time to "come back down."
    4 points
  7. No, you aren't alone. If feels just like the day after the last final exam. Sort of a letdown after all that work. Where's the parade? Hubby and I go to a special vacation spot every year after tax season. Takes me about three days before I'm really in the vacationy, beachy, boozy, (dare I say sexy) swing of the whole thing. I think it's important to take a vacation after working so hard. If I just stay at home and try to relax, I feel the same dejection and emptiness you seem to be describing. Have an adventure!
    4 points
  8. No, you are not alone. Every year I feel something similar to an extent, I have to re-learn how to have a life outside of the office, and have come up with a schedule to get back to some semblance of 'normal.' My plans include being off every Friday, starting tomorrow. Every Friday off I have a household job to tackle. Tomorrow's job is to clean the laundry room and dryer vent. One of my dogs is really itchy with the oak pollen so he needs a soothing medicated bath . I have not been on my bicycle since early January so will ease back into that Saturday for a short bike ride. Another Friday I need to defrost the drain lines on both my refrigerator and freezer. The closets in the spare bedroom, my late mother's room, need another cleaning. I have new gardens that need weeding, (big sigh ... ).
    4 points
  9. Personal in the sense that really impacting me.. kind of, meaning this is so tied up with the busy tax season and the interconnection between me as a person and the grind of tax season.. I work most days in tax season, backing out maybe an hour and a half for breaks, dinner, exercise, trying to unwind, from about 7:45 am to maybe 10:30 pm. Sunday i try and not do much work and saturday maybe from 8 am to about 4 pm and again about 10 pm for another hour or two after that. This starts in late january though really heats up mid February.. but between 1099s, payroll, W-2s and payroll taxes, company accounting, business returns and then of course 1040 season it is a whirlwind.. during this process keeping my business clients going with their books.. I get really motivated for it and love the challenge and all the excitements.. That leads me to my question.. Is anyone else having some struggles now, after tax season.. I mean I feel really dejected.. I have never had such a good tax season.. over 1,000 returns including business returns, no major mixups, no files lost, no real snafus, clients love me, new referrals.. I felt it coming last week before the end.. anticipatory let down... last two days have been really tough for me.. really feeling so dejected, out of sorts, defeated even.. i have 60 returns on extension, business accounting to do, some classic cars for a hobby but I don't feel like doing any of those things. road are full of salt here so the cars cannot come out.. don't feel like doing anything.. am i alone in this quagmire sinking?
    3 points
  10. When I enter total miles and biz miles, the program does the math re the car tax.
    2 points
  11. Well, I can now... Hahahaha, thanks, Judy.
    2 points
  12. Yeah, I couldn't really think of much you or Rich hadn't covered. In general, education credit problems and ACA problems are the most frustrating to me. I suspect many, many returns are sliding thru with incorrect credits, exemptions from SRP, etc. You just do the best you can to prepare correct returns and watch business go down the street to preparers who don't know or don't care. And let's be honest here, most people don't want their returns prepared correctly. They want their taxes won. And until it is a problem to submit a crappy return, we are walking into the wind. Oh, well. Walk on.
    2 points
  13. Thank you.. I am really struggling these last couple of days, but felt it coming on even before that, getting worse to the point of feeling hopeless.
    1 point
  14. One of my clients has a dump truck. Would love to see one of THOSE in the supermarket parking lot!
    1 point
  15. Speaking of education credits and the 1098-T, I kind of remember reading how Box 1 would start to be used.. some other items - Code V on W-2.. gains on stock options? right, requires Sch D. usually with about a break even on D, maybe small loss for fees, and for basis from 1099-B, the actual 1099-B often shows a big gain but later on in the 1099-B pages has adjusted basis! Items so rare easy to miss: Withholding tax on 1099-INT or 1099-DIV Dependent Care benefits on W-2 Can be confusing 1099-OID and accrued interest on those items Big pain, often so minuscule I don't bother with state exclusions of interest and dividends on back of 1099 INT/DIV Things I learned this year, time savers 8379s supposedly faster if mailed in separately Long term care insurance flows through to front of 1040 for Self employed taxpayer (assuming sufficient profit) on Schedule D if a bunch of sales, I scan and attach pdf. if a small amount, I code ST or LT and basis reported or not but leave date fields blank Scottrade, pulled in sales from their website.. sorry to see Scottrade go.. now TD Ameritrade Items I wish I knew more about stock options trust returns Biggest concerns for 2018 tax season 20% business deduction Media claiming how simple returns are now and most people won't need a tax preparer Biggest concern years down the road everything
    1 point
  16. My postage receipt is marked 4:57. This is the most last minute I have ever been. Had a guy with a NYS corp that owed a franchise fee and because he has a history with NY I wanted to pay by money order and not give NY any banking info. this day has been crazy! I can't believe how many last minute people have been in!!
    1 point
  17. Headed home shortly and taking tomorrow off. Hope everyone else on here was done hours ago!
    1 point
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