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I'm with you two. I just copied a doc I had showing the points needed. I made a few notes, wrote my name on top and put NA in a few places. That was my WISP. Like mcb39 said, if it's not good enough for them, so be it. Hey, it's a WISP.

I made my own as well. Took it from the IRS prototype, changed it to meet my needs, and then made my employee/spouse read and sign it. Scanned copy in the folder somewhere - Where did I put that? Oh well, like all the 8879s that I sign that the IRS has never asked to see, I am sure I could do a search of my documents and find it if I need to. Tom Longview, TX

Another moral: always owe a little bit, so you don't have to wait for your refund...

I developed my WISP by asking GROK to produce one. It was excellent. I did the same as others have - edited in my specific info, tweaked a couple of items, printed it out, and filed it away.

I wrote my own WISP; printed it and sealed it in plastic. If it's not good enough for them, so be it. I can step aside any time they want me to. And, of course, there is that unforgiving increase in the price of the program. ATX, as well and an email every other day reminding me that I should renew before the end of May. I have not even decided yet what I am going to do about next year. Pretty soon the phone calls will start.

you put your right foot in, you take your right foot out, you put your right foot in, and you shake it all about! good grief.

First and foremost, she needs adequate errors and omissions insurance as well as regular business insurance, and a personal umbrella policy for however many millions makes sense. But in the past 30 years I've only done LLCs, which she could do and remain a sole proprietor. Whether it's worth electing to be an S corp is hard to say, but factors to consider are losing the home office deduction, paying for payroll processing and payroll tax returns, and paying for an S corp income tax return. With a service business, the IRS is going to want to see almost 100% of profit being taken as salary and not distributions.

I think we have reached the BOI status of confusion.

Had a farmer go through this two years ago and its still not finalized. Hence my post above about 2 years later. They asked for "Income Verification" only in first letter related to Schedule F. Client sent that in. Then 6 months later they wanted Schedule F "Expense Verification". Sent that in. 6 months later, they wanted copies of their Schedule C and Income/expense report related to that. Wife had small schedule C with around $1200 in income and no deductions other than some material. Well, we sent that in along with copies of all 1099's, W2's, 1098's, etc.. We mailed in everything, including hard copies of the tax return. That way they couldn't ask for anything more !!! 6 months later... they get a letter stating all is in order and a refund will be issued. 6 months later, still no refund. And it isn't much of a refund !! A few hundred !! Moral of the story.... Send them everything, including the kitchen sink !! If you give them only what they ask for, it will drag out.

Yes, I do too. They have the 1099NEC. What else do they need. I can understand expense verification and net profit. But whatever. Just answer and wait for them to followup.

While I use Drake (and have a WISP), I don't have anything set up that requires a QR code. I don't even recall seeing or hearing anything about such a thing on Drake. Maybe I've just had my head in the sand...

I usually don't like to set this up too close to the filing deadline. If eary on, I do it for a few client who request it. Most of my clients are ok with refunds being directly deposited but if they owe, they choose to send a check. We'll see how it goes for next year when they put through the new requirements (or change their minds).

My credit union will cover from savings, but they won't transfer online from savings more than 3 times in 30 days. So if I have made transfers online, or they have had to cover another payment, the third time that month that this happens, they will refuse the transaction. They told me it was federal law - at least the last time I tried to make too many online transfers in one month which has admittedly been several years ago.

Drake does display a QR code as a part of the proceess to set up MFA. At first I resisted it, but eventually decided to set up MFA after reading about it on this forum. Now it’s a really seamless process that I’ve become comfortable with and I feel as though I’m protecting my client data with another level of security.

Best I can figure, he may be referring to the one-time setup of the MFA.

You'll want to wait for someone who works with MD/WV, but I do know that most reciprocity agreements are for wages only. So, do some research on the WV website while you wait. Good luck.

My bank has that option for certain accounts, but the account holder must set up that feature, kind of like setting up the online bill pay or online banking for statements. The account I have doesn't have that feature available, and I don't have a savings account there anyway because their products aren't worth investing in.

Entered the amount rolled over in the rollover box on the 1099R screen.

You already received the best answer is to have client use IRS' Direct Pay. About the above statement, don't ever assume that a bank or credit union offers overdraft protection or that the account is of the type that even has that set up.

You'll get a response stating they need more time to respond.

Attorney should get 1099. IN GENERAL, the part for services provided to your client should be on NEC box 1. The settlement portion should be on the MISC, box 10. The amount to include will depend on how the check was made out. My basic understanding is that if the check was paid to only one attorney, then obviously that attorney gets the 1099 for full amount. If one check is paid to co-payees, I think they each get a 1099 for the full amount. If attorney gets money and part is for co-counsel, then attorney gets 1099 with full amount, and they issue a 1099 for amount they paid co-counsel, but again, that depends on who check is made payable to. There is also the issue on what type of settlement the payment is for. Example, as the article below explains, payments for personal injuries don't require 1099s to the injured party but will be issued to the attorney, depending on how the check is made out. I'd suggest start your reading with the article below from the ABA that is written in more layman's language and is informative before going to the 1099 instructions for preparation, and then the code . The 1099 instructions do reference the applicable code sections. Also, perhaps a separate post would be better for what portions of these payments are deductible by your client. Slippery Pencil is correct that attorneys are an exception to the corporate rule. They get 1099s regardless. Anyway, here is the ABA article to start with: https://www.americanbar.org/groups/business_law/resources/business-law-today/2020-february/irs-form-1099-rules-for-settlements-and-legal-fees/

Entity type doesn't matter for lawyer 1099s.

Sounds like the trucks some of my farmers have pulled up in. No tags, no inspection, and sometimes even no doors!

Now that the convo seems to have exhausted and concluded, I found this funny clip about those farm trucks. It is a Facebook clip, so I'm sorry that those of you not on that platform won't be able to see it. https://www.facebook.com/share/r/16AqLmzUXp/?mibextid=D5vuiz

With second homes stuff happens and plans often change so just because you can doesn't always mean you should

Well in our area all farmers drive big fancy trucks and run them into the ground hauling animals, feed, etc.. And they have to drive on the interstate to get places. Not uncommon to spend over 1/2 million on a combine that comes stock with gps farming systems, ac and a descent sound systems. Is that extravagant and doesn't meet deductible standards ? Hell we have farmers with multiple thousands of acres. Sell millions in crops and animals each year. If I said you can not depreciate your 1/2 million combine with a stereo system or your Ford F450 extended cab with leather seats because they are too extravagant, I would get prodded with a pig sticker !!!! If its not 100% farm use, give them a percentage.

Kathy, I think this is spot on along with the recommendation of management of workload. I have been thinking about this for several days now after an encounter I had with one of my 5's. She called and said I had forgotten to include the payment voucher for NYS. I wasn't sure how I might have missed that but said I would send her a PDF of the return and she could print it out. She said Ok and that she would go the library and print it. I sent the file and got a call a day later. She was all upset because it was going to cost a lot to print the return ( all she needed was the voucher not the whole return) Well after more allegations of not paying attention, etc. I explained that all her tax docs are on one side of the folder and the returns, e-file docs, and cover letter are on the other. I hear some ruffling of papers and sure enough there was the voucher in with the return all by itself. This all occurred on April 14. Thanks for allowing me to rant and for the very wise and diplomatic wording of the termination letter.

I think you should've led with that !! Dan really sums it up.

I am thinking about doing all my business in the "other office" down the hall, and use it exclusively, that will resolve the issue.

Sounds good, but I would suggest this substitution: After reflecting, I realize that I need to reduce my workload to a more manageable level.

Client has probably been watching too many episodes of “Yellowstone”. Wants to project the Kevin Costner look when riding into town. Maybe wearing a logo vest as well? it’s probably good you passed on the engagement. Think about all the bad things that always happened when John Dutton didn’t get his way. It often ended with a trip to the “train station.”

I decided to keep it very simple. This is what I came up with: "This tax season was rather hectic for me, especially toward the end. After reflecting, I realize that I need to reduce some of the workload to maintain my sanity. While I have enjoyed helping with your tax prep needs over the years, I think it’s best that you make other arrangements for next year. I wanted to let you know now so you have ample time to find another preparer." Thoughts?

to describe what yesterday was like. Today I want to hide under the desk. What is wrong with people?

Absolutely agree too. No job is worth sacrificing your health. I’ve learned to pace myself, only because my time the last two years have been tied up with caregiving at home, having a 101 y/o mother 232 miles away that I need to relieve my brother every month, who is ready to shoot himself. So finding a balance to safeguard my health was imperative. I found that balance and never felt better. I hope everyone here can do the same. Congratulate yourselves, you made it!

You are speaking directly to me. As a warning. And I thank you because I needed to be reminded. I've been doing taxes since 1986 or 1987. On my own since I think 1990? I have brain fog right now but it's close. Many, many of my clients are about to be "fired." It's best for all of us. After almost 40 years? Time to put myself first.

When I read posts like some here in this topic and others, and I think back to the workload I endured in my earlier career, I worry about some of you and about us as a profession overall. I haven't made nearly the amount I could have for whatever talents I have, but I have made a concerted effort for a healthier work-life balance and am happier because of those choices. This work can be extremely rewarding, but I believe that it shouldn't be at the expense of our health and well-being. I wish you all well, hope that you recover quickly, and are able to enjoy some quality time away from the office. I also hope to see you here in the off-season as we continue to work at a less hectic pace.

Yesterday was the worst day of my career. Patti said that nobody liked her; I don't even like myself. I finished last night at 10 PM with two pages of extensions filed; swollen feet, an aching back and exhaustion. I am trying to get things done this morning that have been neglected for months. Let's get some of these bills paid, etc. Turns out that most of them were already paid. Must have done it in my sleep. I prepared a deposit which will sit here until someone goes to the bank for me. My assistant showed up all grumpy after I almost had to shove her out the door last night. She will never know how close she came to being fired. You see why I don't like myself today.

The rounding issue reminds me of the spreadsheet days of ATX. Most ALL calculations did NOT round, but "display" was globally set to zero decimal places. I had a client get a "nastygram"(TM Catherine, IIRC) over EIC when AGI was shown as yadda 50, but was actually yadda 49.70. Took forever to track down. I never entered cents after that, and any calculations that could produce decimals, were edited to include =round(x,n)!

This is me but with a bottle of Chardonnay and wearing my flannel pants and I'm never coming out.

Ditto but it was $4 and on depreciation. Total difference on a long list of assets; he hand-calculated and I used software. Of course it made no change to tax. I later suggested he find someone closer to home and to my very great relief he did. Any engineer is a potential royal PITA client and treated (and priced) as such until such time (rare) as they prove otherwise. Engineers don't know the difference between precise and accurate. They are related but not identical. While I know the IRS truncates, I cannot stop myself from rounding "properly" - as rounding is different from truncating.

From a CPE talk I gave back in 2023; (staged) me under my desk after fully reviewing the disaster I had inadvertently accepted as a new client. You may find amusement in this, @mcb39.

I usually only work a half day today. Take tomorrow off. Back on Thursday but I probably won't get much done. Fridays off the rest of the year. Semi-retired the rest of the year.

The instant I think a client is not being truthful, they become an ex-client. That's a hard red line for me.

So, I will be 65 next month and applied for Medicare. I did not realize that really special people are born on the 1st of a month are eligible for Part A the month BEFORE turning 65, while Part B can begin in the month of the birthday. This means that I was not eligible for that HDHP or to contribute to my HSA for the month of April, but at least I haven't overfunded it. But WHY is eligibility a thing where Part A kicks in a month ahead? WHY?! Next, I decided to renew my state permits to practice. The portal is always very slow and now has a box that requires the date when I first registered for peer review. Well, I found the original letter from the AICPA showing my registration back in 1998, so the state is getting a copy of it! So there, take that you pesky state! I mean, It's only been 27 years already! And then in the middle of that renewal, my most procastinating client ever called (again) to say is "working" on get documents together. I still don't have anything from for 2023, let alone this past year! Arrggh! On a brighter note, I delivered my final returns that have been completed for the season and filed the few that are on extension. I am taking a few days off now and will take hostilities out on some clay pigeons tomorrow!

So much BS. My BCBS rep told me today that I should have had the Part D drug policy in place by April 1st also. She'd never heard of Part A ever being earlier than Part B, so when she looked into it, she could see that about my Part D date.

Now that's truly a once-in-a-lifetime opportunity.

Of course, those really, really special people who turn 65 on January 1, start getting the over 65 standard deduction the previous year, when they are 64 the entire year. Unless they died during the year, then they don't get the extra standard deduction. Unless they died on 12/31, in which case they do get the extra.

One way of getting rid of such clients is to significantly raise their fees so they leave on their own. Beware, though, they may just pay it, but at least you'll be compensated for the aggravation. I had one jerk whose fees I raised by $500 each year for a couple of years. He started out at $800 and went to $1,800. He was on schedule for $2,300 when another accountant in the office took him over.

I printed my client list in January. Because it's all a blur by April, anytime someone left my office and I wanted to scream, I highlighted their name. They will get a letter at the end of April saying I am no longer able to assist them. My problem is I have several families. I love Mom/Dad. I love sister/brother. But one family member is ridiculously difficult to deal with. It's been hard to figure out how to fire one and not all. My go to in the past has been to say "I no longer have the time to dedicate to a return as complicated as yours and since I want you to get the best service, please look for someone else." In my head, I'm saying "you are insufferable, and I don't like you. There is no amount of money that makes it worth it to have you sit across from me ever again and good luck finding someone like me who will put up with your $h1t." Sure. They may go out into the community and tell people I couldn't handle it. I don't care. My reputation speaks for itself and I'm not taking new clients anyway.