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Showing content with the highest reputation on 04/02/2015 in Posts

  1. My goal yesterday was eight. Did two. Go me.
    9 points
  2. I just set up an auto-respond to my email - copy below - and I am considering adding Judy's "piecemeal means bottom of the pile" idea, we'll see how badly people tick me off today. Dear Client: Please be assured that you have *not* been forgotten, and your tax returns are in progress. However, if we took the time to respond to each email from clients "just checking in" we would be unable to finish anyone's returns. In order to expedite your own returns, if you receive an email from us with an information request, please read it carefully and respond only once with all the requested information. Piecemeal and/or incomplete responses slow down your returns considerably.
    6 points
  3. 9 a day! Good grief. I wish I could complete 1 a day! The ones that come in now have hundreds of pages with two or three states (more if I did all the states on their K-1s). Their 1099-Bs have thousands of trades with wash sales. They have dozens of K-1s with several activities each. And, then I find some documents that have to do with the trusts that grandma set up for their kids in their folder. And, a couple of college kids with W-2s from three states each and who need the K-1s from those trusts I just found that are from MA that I have to prepare before I can prepare the kids' returns. And, mother's estate. And a NJ paystub with no W-2. And, they sold their NY rental and a portion of two of their PTPs. And, they keep calling to ask how they should change their withholding and if selling their house this year will change their taxes next year and did they give me all their donations and their former IC needs another copy of his 2013 Form 1099-MISC. And, did they tell me they're going on vacation this weekend and won't return until 20 April?! And, the kids go back to college this weekend and need to sign their returns right now. And, should their LLC be an S-corp? And, I'm tired and cranky and getting a stomach ache from all the chocolate hubby's throwing at me.
    6 points
  4. I find myself in the same boat as so many folks here and doing way more of ^this -- not replying yet. What really fries me is the carefully bulleted (like * not like "bang" - with my hobby I feel I must specify lol) list I send out -- and get back one or maybe two of the five or seven items listed. Thank you for answers to items a and b; I am still waiting for answers on c, d, e, and f. Thank you for answer e, I am still waiting for answers c, d, and f..... et cetera. Or the emails that say, "I don't have this yet, just thought I'd let you know," -- I don't CARE. Send me the info when you have it and other wise LEAVE ME ALONE so I can get something DONE!!!! Argh! What a season this has been.
    6 points
  5. You are my hero, Rita! I have never had enough nerve to tell someone that, but I have often thought it! I love it!
    5 points
  6. I seriously, this morning, had an IDIOT call me on a bad connection, from TX, wanting to know if he could pay his wife to manage rental so he could increase income for EIC purposes. I was soooo furious. I told him, "You people need to get jobs and stop basing financial decisions on how to maximize EIC, and did you get your return that I mailed to you a month ago? And would you sign 8879 and pay me and not talk to me again?"
    5 points
  7. I could easily do 9 or 10 a day if everyone would leave me alone. I don't become more productive because you call and ask if your return is done yet. Or want to talk about planning for next year. Or whether to fire your investment adviser. Couldn't some of those questions wait until after April 15? After all, I don't do anything once tax season is over, right? I think I am going to the mailbox.
    5 points
  8. JJ - keep your priorities in line. Think 4868. Tell your clients of your issues. The very vast majority of them will understand. Those that don't understand simply don't care about you as a person. I told one yesterday, who in the past has been very, very extension opposed, that he will be on extension because, due to my own set of health issues (my pacemaker implant) , I am no longer able to work 105 hours per week. Couple that with the additional reporting requirements and we have the perfect storm for my practice. After I explained the facts, including that I do not even look at extended returns until late June at the earliest, he said, "whenever you get to it. I want you to be around in the future to do my returns" (a corp, a mmllc, and his personal and adding additional entities every couple of years now). I truly have purposed that those that object to being extended simply have no concern for me and they are welcome to take their business elsewhere. I suspect there will be very few that cut and run when the facts are laid out. I am at 72 returns that are being extended that in past years I would have worked to get done. So far, the one I mentioned is the only one that objected to being extended. And I disagree, there is rest for the weary. "Come to Me, all you who are weary and burdened. And I will give you rest."
    5 points
  9. I really miss you, and I missed you last year. I wish you would join us again.
    4 points
  10. A client I had for years just brought me a huge box of homemade peanut brittle. I mean huge.....must be at least seven pounds. It's delicious...they must use a lot of butter...It's Yummy! I finished their taxes back in February, they were really happy with results. Didn't expect such a pleasant turn of events today. Wish I could Skype ya all a piece or two.
    4 points
  11. I just fired a PITA client who still owed me for last year and only paid me for the previous 2 years because my staff wouldn't take the drop off of his 2013 information until he did. I feel great. He called and wanted his return done before the 15th even though he hasn't dropped off yet. I told him to go to H&R Block, and he did. Yay!
    4 points
  12. Honey, you would if you had this guy. I was sooooo happy when he moved to TX. Then, BAM, I get a package in the mail from TX. He's like a bad penny. Not even kiddin. I can see a Dear John letter in his future. I see it pretty clearly, actually.
    4 points
  13. Is it me or does it really seem like the more complicated returns came in later this year? I have at least three that take a considerable amount of time and my annual CRUT just came in. Anything after Monday gets an extension.
    4 points
  14. Rita that is just too funny. I have several scheduled after April 30th. I usually don't talk to anyone about taxes till I have at least two weeks to rest and completely forget this crap exists.
    4 points
  15. Repair, even under the new reg. It did not restore the vehicle to it's original operating state, just into operational state. The repair did extend it's useful life, since without it the useful life was zero. And finally, it did not add significant additional worth. It won't sell for much more because the rear diff was replaced, it's still an old truck.
    4 points
  16. When ever someone came in talking about how lovely the late March or early April weather was, how much they were enjoying the flowers, etc, their bill always went up $10.
    4 points
  17. I swear, next person wanting to plan for 2015 before April 15 is getting this look:
    3 points
  18. That's the problem with these last few weeks. Everyone who dropped off last has problematic returns. The one I spent most of my day on yesterday bought 3 new rentals, owns a farm, has mineral interests, a trust beneficiary, and oh, by the way, could you do the trust return, two schedule C's, etc., etc. I look at the list of everything that is left, and it's depressing. I don't know why, but I don't have very many 'easy' clients (W2, 1098, few 1099s, etc. - only get them if someone has a son or daughter, etc.), but the ones that are left are extra stinky. When I complete one, it takes me a few minutes to decide who I want to deal with next. Someone is coming in today to try to convince me that under the new rules the entire new HVAC system the client installed in a property can be expensed. ***Sigh*** Still, I have to do 9 a day . . . I'd better quit whining. No matter what, we have to color eggs Saturday night, the bunny has to hop, and Church.
    3 points
  19. I hope so. Still hope he will get over it and rejoin us, I miss his valuable input.
    3 points
  20. 3 points
  21. I have 3 piles: 1-waiting for approval (all the work is done...ready to e-file) 2-waiting for information 3-returns I can actively work on Piles 1 & 2 are high...pile 3 is empty I hope you guys with "chaotic returns" charge well. I'm only accepting new clients with simple returns. I tell the others that I don't have the necessary time to devote to the return.
    3 points
  22. I am hoping to get to church for the Maundy Thursday service tonight, but I may or may not at least partially because my nephew is coming from NC to spend a few days with me in VA. Full day of appointments tomorrow, but I WILL be in church on Sunday morning. I probably won't get up and go to the sunrise service, though, unless my son decides to come in this weekend and he wants to go. Then I am having lunch with a dear friend and her family for Easter, and I may or may not work after that. But Monday will be back in full swing. However, I am going to take to heart what you said about extensions. I have a feeling there will be more extensions this year than ever before.
    3 points
  23. In addition to my tax/consulting gig I also pastor a small church so this is a big week/weekend for me. I hoped to take some time off from tax prep but a flareup of my wife's chronic serious illness coupled with my own trip to the ER yesterday with two(!) kidney stones means I'll have to double up whenever I can. No rest for the weary. Deep sigh.
    3 points
  24. He still lurks.
    3 points
  25. I might sleep in. Haven't been to church on Easter since the last time it was after tax season. Miss it. Haven't even been to an AA meeting since February. I have to be on site at a client conference April 9-13. Gotta get it all done before then. At least I know there will be recovery meetings there. But my assistant's wife likes the refund they are getting so much she is going to buy me more Michael Rischutti chocolates. And a client sent me flowers today because she heard my kitty is sick.
    3 points
  26. Thankfully, insurance companies can no longer deny people with pre-existing conditions from getting health insurance (just one of the provisions of the new law that does not affect the tax return).
    3 points
  27. Went to a Passover Seder at my church tonight where the pastor is a Messianic Jew. Wow, did I learn stuff there! Anyone interested I'll tell them all about it after 4/15. Will definitely be at church early Sunday to practice for the Hallelujah chorus. Work on Sunday -- probably not. No appointments *definitely*. I've been trying really hard to set aside this one day every week.
    3 points
  28. Apparently, I'm good at espionage. This anal client I'm working on now gives me COPIES of investment statements with account numbers blacked out. You never know what your accountant might do with those account numbers. Or two copies of a W-2.
    3 points
  29. We close the office for Good Friday, open for 4 hours on Saturday and we are never open on Sunday, most especially on Easter. I, on the other hand, will work a full 12 to 13 hours on Friday and Saturday and will take Easter completely off. I am so looking forward to not hearing the phone ring or the door open for nearly three whole days. Don't misunderstand, (which I am certain none of you do), I love my clients and want to talk to them and see them, but enough is enough. This is a nice little break until the final week madness begins. I can hear the caller now. "I picked up my return back in February and I see I have to send a check. Why do I have to send a check? Who do I make it out to? What was the amount again?" I am so grateful that i have staff that can field these calls. Otherwise I would also be at the mailbox where but a short two steps away, semi-trucks buzz by at 50-plus mph.
    2 points
  30. I have two done for days, and I've put off calling them because they both think they're my only client, and they require so much hand-holding. OK, I call one. Voice mail not set up. Really????? I call the other. Lots of hem-hawing. “What do I owe? Oh, well, finally, the farm loss helped me. Oh, and the financial advisor’s fee of $20,000 helped me, and how late will you be there today? And will you be there tomorrow? OK, well, I may come tomorrow rather than today because I’m still cutting tree limbs. It will be interesting to see what tax bracket I’m in going forward...” This is the guy donating underwear. And taking pictures of same. Let’s not downplay the significance of the tax savings THERE...
    2 points
  31. I should've taken the time to set up the auto-respond. I've had eight emails asking about my progress on their returns and two very long telephone calls wanting to update me on their info for extension and ES purposes. Argghhh! I'm in pricey, snooty Fairfield County, but I may use Rita's version.
    2 points
  32. This is why I quit. The truck is a 1980 purchased in 2004 for $5100. And totally depreciated. So it is now 35 years old hell they kept it running longer than a house.
    2 points
  33. I just checked, and Drake has a general input area that does include lines for and IRA distribution, the taxable amount, and a check box to calc the penalty. I've only used that area a couple of times and I'm surprised to see those lines there. That's a relief! Onward...
    2 points
  34. Catherine, I think you might be talkin to the hand. Just sayin.
    2 points
  35. I would be inclined to report as an early distribution but not sure how to input absent a 1099R. There would be no matching but maybe an easier conscience and good documentation of the what happened. Boy, we really get the weird ones on this board, don't we?
    2 points
  36. Can I push Like multiple times! I'm stealing that, Catherine. I did complete one that's hundreds of pages thick before I slept for a few hours, but I'd started it last weekend before my kids showed up from PA. Attempting a very organized one today, but they paper file and go over every single number after I FedEx it to them in FL. So, I will have to explain every number and probably make revisions. I need more than three per day, but am still about one every three days. Just had a bowl of soup while reading message boards and now back to work.
    2 points
  37. Thanks, I stole that, but I'm not as sophisticated as you, so I'm adding: P. S. This means stop checking in. Bitch.
    2 points
  38. And you do know your way to that mailbox!
    2 points
  39. Just kidding. I try not to ever work on Sunday. But this is how I feel right now.
    2 points
  40. Yes, when we set those goals, we forget about all the interruptions. I have never been so behind in my life. Cannot believe the people still calling for appts. Not that I could have gotten them done any sooner.
    2 points
  41. First, tax law isn't always logical and the tax laws don't always make "sense" because sometimes those laws have come into existence because of who had the most money to influence the legislation. Next, maybe you need to take the repair regs a little more seriously and actually read them, because if you had read them, you'd know that your statement about capitalizing those normal maintenance items such as oil changes, tires, batteries, belts, hoses, etc is totally off the wall. Those are still to be expenses as normal R&M. No one here is losing their mind. We are forced to think of these types of expenditures in ways that are different than in the past. I think you missed the part where in my very first sentence I agreed that the rear replacement would probably be a repair. Oh, and by the way, the article from the JoA was written by a J.D. that directly referenced T.D 9636 (IRB 2013-43) that contains the IRS' own "view" of what constitutes a routine maintenance-type expenditure to keep tangible property or a UOP in an efficient operating condition. It wasn't just someone's opinion. lol
    2 points
  42. This Jack agrees with that Jack! Repairs. Come on you guys, who pays your fee and who do you work for? If in doubt give the doubt to the taxpayer as you can always give it to the IRS on audit if you have too. Geezz!!
    2 points
  43. Same here and it seems this stack is worse this year than any others. I had Sch C,E with rental properties send me the final day care expenses yesterday. Today I get the question, do you have the depreciation done for one of the new properties I purchased? I mean really?? I haven't bothered replying yet.
    2 points
  44. I'm having the following problem.... Returns completed...people owe money....not big money (I know this is relative)....but haven't gotten back to me. One told me "her partner" said she didn't have to file a tax return (1099-misc income) and could be her dependent. I told her about a letter she would be receiving if she did that...lol But...she didn't get back to me..... I think that I will send each and every one on this pile a consultation fee invoice on 4/16.
    2 points
  45. Leaving Friday for the beach. Will probably be attending a sunrise service Sunday morning on the pier, with the Atlantic Ocean as the backdrop. Returning to the office on Tuesday Apr 8. No taxes until I return (other than maybe a few phone calls and responding to some emails & texts). This is mainly because most of my extensions are already filed since I began filing extensions on anything coming in afftyer Mar 10. Anyone showing up between now and Apr 14 automatically gets an extension, even if I think I might get it done by the 14th. The morning of Apr 15 will be spent on a final review of extensions and then hopefully on the way back to the beach by early afternoon for a week of relaxation. I'm not saying there won't be a few aggravations or surprises along the way, but for the most part I'm coasting toward the finish line.
    2 points
  46. I don't know about it being a no-brainer. I bet everyone here would say that logically this should be a repair, including me, but the new repair regs might say that this should be capitalized. You'll have to decide whether or not the new rear significantly adds to the life and value of the dump truck. I'd think if it was a used rear as the OP suspects, then one might conclude that it doesn't add value or life, but merely puts it back to its operating condition as before. I don't know how one would go about portioning out the old rear though, or maybe we aren't supposed to. I hate these new laws, really hate them. Here's an article that appeared in the Journal of Accountancy that uses the example of rebuilding an engine, and that the repair regs require its capitalization. This is from the bottom of page one of that article that says:
    2 points
  47. Yep, one I gave signature pages to days ago just emailed that the very long and detailed list of donations to Goodwill, well it's actually four different lists for four different dates to two different charities. But, she didn't give me the corrections to make. Limbo. And, some I thought I was going to finish are going to move over to Extensions due to all the emails, telephone calls, from everyone else. And, they won't be happy. But, I'm getting unhappy. And, a former IC from a biz client needs a copy of his 2013 1099 and didn't like the copy of the payor copy I emailed him on blank paper and not on the preprinted forms and emailed my client his dissatisfaction. Now the client's emailing me. I really am not going to drive up to that biz this week. Very unhappy. And, ate chocolate, but it just made me jitterier. Really not happy. And, my good halogen lamp that is great light plus heat this winter died. Hubby even went looking at Home Depot for a lamp for me. Kids came in from PA for a day and I was cranky; hubby told them I'm tired to not worry about it. I want another month to catch up! Or, I'm going out to the mailbox to meet Rita.
    2 points
  48. Rita, I am having the same problem. I am so tired of not being able to finish returns. This has been a terrible year for me as far as getting anything done. Even returns that are normally simple, have strange things or missing. An easy one yesterday wrote down $7,500 for Goodwill donations, did not fill out the health insurance questionnaire that I sent them, didn't return engagement letter and forgot their property tax. I'm really getting crabby.
    2 points
  49. I refuse to get involved in the discussions about which plan or which company they choose to purchase their health insurance. Those decisions are NOT a tax matter. I am only handling the "shoved down our throats" responsibility of telling them the tax consequences of their choices. Otherwise, another client to fire.
    2 points
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