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Showing content with the highest reputation on 04/22/2018 in Posts

  1. I agree with the majority of the posts here. The letdown is a really strange phenomena, and it can be overwhelming. I, too, have started to plan many things for the week or two following the end of the season so that I can ease in to regular life (which is very enjoyable)! The office feels a little strange now, but I have client meetings again starting next week, so it will regain its energy. Another thought, if you enjoy working as much as it sounds like you do, is to consider what types of work you might add to make your business 'busier' year-round. I do financial planing, and I'm a lawyer, so I do estate planning, M&A, and some financial mediation and forensic-type accounting for other attorneys. It seems to me that there is a fair amount of this type of business 'out there' if you open yourself to the same. You certainly don't have to be a lawyer to do most of the items listed. Sky is the limit on what someone with good 'bean counting' skills can offer! I might not be understanding how you are feeling . . . these are just suggestions. Jim, please let us know that you are okay.
    3 points
  2. Use your OCD. Clean and organize your office, schedule courses, touch base with all your biz clients to remind them of deadlines, tackle payroll taxes. Especially this year, use your tax projector software to do a "check-up" on your individual clients. Are they withholding enough under the new tables, or will they have unexpected balances due or lower refunds for 2018. Create new Forms W-4 for your clients. Schedule an appointment (in person or phone or...) with each client to talk about the new tax laws specific to each, such as W-4 withholding, 20% biz passthrough deduction, anything that your clients need to know about their own situations, personal and biz. And, schedule yourself personally, not just business/courses/appointments, but schedule your doctor/dentist/eye appointments and exercise times and holidays/vacations, including shopping to be ready for holidays/vacations and time to try something new to see if it works for you (could be yoga or running that actual marathon). And, schedule a day/time each week to check in here to report on your progress. Have a calendar with the right amount of activity for you, well scheduled in advance, so you can feel comfortable and prepared looking at it and not have gaps to cause panic, only gaps you scheduled for a purpose. I read that Martha Stewart would sit on a plane every 1 January returning from her holidays and schedule all her doctor appointments for the year. Don't know how that worked from a plane on a holiday, but at least she had her working list ready to go! And, my daughter had six months scheduled out when she started training for a half marathon by joining a training group that included scheduled runs and group meetings and individual appointments with the physical trainer, etc.
    2 points
  3. Read the instructions: https://www.irs.gov/instructions/i2848 Revocation by taxpayer. If you want to revoke a previously executed power of attorney and do not want to name a new representative, you must write "REVOKE" across the top of the first page with a current signature and date below this annotation. Then, you must mail or fax a copy of the power of attorney with the revocation annotation to the IRS, using the Where To File Chart, or if the power of attorney is for a specific matter, to the IRS office handling the matter. If you do not have a copy of the power of attorney you want to revoke, you must send the IRS a statement of revocation that indicates the authority of the power of attorney is revoked, lists the matters and years/periods, and lists the name and address of each recognized representative whose authority is revoked. You must sign and date this statement. If you are completely revoking authority, write "remove all years/periods" instead of listing the specific matters and years/periods.
    2 points
  4. That's my take on it as well Catherine. A number of my older clients use mail filing and will likely want to continue filing that way. I don't see a scenario where Congress would deny a client that option although most of mine have changed to efile .
    1 point
  5. 1 point
  6. Withdrawal by representative. If your representative wants to withdraw from representation, he or she must write "WITHDRAW" across the top of the first page of the power of attorney with a current signature and date below the annotation. Then, he or she must provide a copy of the power of attorney with the withdrawal annotation to the IRS in the same manner described inRevocation by taxpayer above. If your representative does not have a copy of the power of attorney he or she wants to withdraw, he or she must send the IRS a statement of withdrawal that indicates the authority of the power of attorney is withdrawn, lists the matters and years/periods, and lists the name, TIN, and address (if known) of the taxpayer. The representative must sign and date this statement.
    1 point
  7. We always defrost the freezer in the middle of winter. We put the frozen food in a box outside when it's colder than the freezer gets!
    1 point
  8. 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.
    1 point
  9. So yesterday afternoon I called @Possi to see if they survived, and they were DRINKING AND HAVING MASSAGES. Wait, what? I thought I was your best friend, not Cynthia. I see how it is. Then I went home, had five little candy bars, and whoever named them "Fun Size" clearly did not understand fun. Then I hiked around the farm smiling and enjoying the sun, thankful for a good season. Discovered a new baby calf, which is always like Christmas morning to me. Thanks to all of y'all for everything you do for me. And everybody please stick around because I need you all year.
    1 point
  10. My assistant and I went for a doubles massage. My neighbor brought us a little bottle of champagne, so we had some bubbly before going. This gal, Cynthia, has become like a daughter to me. With no job and no plans for a career, I took her under my wing last year. She was even better this year. I'm helping her study for her EA (even though I have no plans for my own) so she can plan her future in taxes. Personally, this has been the most peaceful, joy-filled, and productive tax season in my life. Thank you for all your assistance, all your laughs, and for being my extended office. This is my safe place, right here. What a difference this site makes in my business and my spirit. Saturday, I begin HORSEBACK RIDING LESSONS. Yes, 62 this month, and I'm finally able to fulfill a dream of mine. I am going to a Christian camp so that if I fall off the horse and "wake up dead," they know how to pray me UP! AMEN? I'm a very blessed woman! Thanks, and God Bless y'all.
    1 point
  11. Same as Rich, took staff and family to dinner at this great little Italian place in town. One good thing about tax season ending on a Tuesday is we almost had the restaurant to ourselves. I'm sure the restaurant and wait staff appreciated our business too.
    1 point
  12. I hit golf balls because the golf season has officially begun.
    1 point
  13. I took my staff to dinner at a local restaurant. We ate, drank and laughed for two hours. My receptionist had her baby on April 12th, so we had a 5 day old baby boy at the table with us. My wife and I will relax at home tonight. Rich
    1 point
  14. We just stayed home and watched some tv. Tomorrow, we will go somewhere, because I haven't left the place in almost two weeks. I don't want to splurge and eat something bad for me until after my physical on Friday.
    1 point
  15. Made myself scrambled eggs since i make the best scrambled eggs ever
    1 point
  16. Everyone, thank you for your comments. Every tax season I go through this but this year has been worse. Even before tax season ended, I felt this coming on, this time around April 10th as I knew what was going to happen. I wish it was as simple as taking on other tasks, taking a break, going on vacation, making plans, etc. There is more involved. I wish it was that simple. There are some other issues that go beyond accounting, payroll, taxes, and work load that I have to deal with, fight against. I deal with some pretty painful OCD and anxiety issues. In tax season those other issues do not go away but somehow I can push them aside, or at least press on in spite of them. Tax season gives me a challenge, sort of like Sara said, preparing for and running a marathon. I prepare for this marathon if you will starting in November and December. I only mention the following comments as these steps are part of my preparation, the marathon, and then what I am left with. It all starts in late December really. I know 1040 season starts late January and really heats up February. For me to be ready for that onslaught I have to get everything else done by late January. I do a lot of companies books, payroll, and taxes. sort of like controller or part time CPA for companies.. By end of January I need to have so much done. 1099s, W2s, 1065s, 1120Ss, 1120s. The first thing I concentrate on is W-2s. With the help of Medlin Payroll, which I have been a customer for approx. 25 years I can get most of my payroll clients W-2s done in December.. .. but even then it is much more than W-2s.. there are the 941s, state and local reports, unemployment returns. etc.. So I like to have all W-2s done by New years day and am working on these through Christmas and New years holidays. 1099s, I can get most of those done by early January as I have monthly Peachtree activity for my business clients.. After January 1, I concentrate on business returns.. I can prepare a 1065, 1120, 1120S before I can a 1040 as I have the data by doing monthly or quarterly accounting. For all of this to work I almost need perfection, from everything to scheduling clients not rescheduling, clients not missing data, etc. Even the weather.. a snow storm could lead to clients rescheduling. In spite of my other struggles my clients really like me and my service. Most don't know about the struggles I face. I just tried here to give a little background on my preparation and what other issues I face, without going into details on those as a courtesy as I did start the topic and felt I owed a reply to those asking about me and how I am doing. it is just not taking every ounce of strength to get through tax season with the work load but with the other issues that I have to deal with I feel like I ran more than a marathon and more like one of those ultra-marathoners. I am trying to shift gears into post-tax season life now. Though the tax season crunch may be over, other issues remain that never seem to go away and make post tax season in many ways more difficult than tax season.
    0 points
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