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Showing content with the highest reputation on 01/18/2019 in all areas

  1. Mine is very simple and short.. Thank you for choosing our firm! This letter contains the terms of our agreement. We will prepare your federal 1040 and Maryland 502 for [Federal - Year of return] based on information you provide. Our work will not include procedures to discover irregularities or inaccuracies in the information you provide, but we may ask for clarification or additional information, to prepare as accurate and complete returns, as possible. It is your responsibility to provide all necessary information related to income and deductions, and to respond to our inquiries in a timely manner, so we are able to complete your returns by the due dates. You are responsible for maintaining appropriate records, such as official tax documents, receipts, substantiation for income and deductions, and purchase and sales information for assets. This letter also confirms that all the information you have given us pertaining to your income, deductions and other information regarding your tax returns is true, correct and complete. It is your responsibility to review your returns before they are filed to determine that all income and deductions have been correctly reported. Filing your returns by the due dates is your responsibility. If your returns are later selected for review or audit by taxing authorities, we will be glad to assist or represent you if you desire. Our fees for preparing your returns do not include time that might be necessary to assist you during a taxing authority review or audit. Our fees for preparation of your returns are based upon our standard billing rates plus out-of-pocket expenses. Our invoices are due and payable upon presentation. If this letter accurately summarizes your understanding of our agreement, please sign and date in below and return it to us. Thank you again! We truly appreciate your business.
    3 points
  2. Well, yeah, I've got one, but it's more like a CYA letter (sorta like the one above) than an engagement letter. Here goes - if you don't like it, feel free to complain. . Taxpayers' fee to Black Bart Boondoggles, EA-LLC (Preparer) is for income tax preparation service ONLY; which is made on a professional "best efforts" basis with no guarantee of specific results. The fee does NOT cover the following: IRS or state audits and resulting liability/ bookkeeping and accounting/ balancing checkbooks/ legal advice/ compilations, audits, reviews/ financial planning/ risk analysis/ matching of income, books, and records to bank statements/ checking of Taxpayers' figures for accuracy and completeness/ discovery of fraud or irregularities/ consultations/ stock market advice/ any other unspecified service. Preparer is not required to anticipate or notify Taxpayers of any possible consequences of current tax treatment on future taxes or matters affecting Taxpayers. Income tax returns are prepared from information furnished by the Taxpayers without verification and the Taxpayers certify that they either have or can secure documentation of all income and expense items claimed. Taxpayers release the Preparer and his employees from all liability for their preparation of and/or advice about this tax return and any related matters. I have read, understood, and agree to the above terms of service. The following facts and circumstances for tax year are true, correct, and complete to the best of my knowledge and belief. Signed ___________________________________________________ Date ____________________ P.S. Now, I know the last sentence of that first paragraph is twistin' the knife a dab, or may even be a damned outrage, but what the hey; you cain't be too careful nowadays. Regards, BB
    2 points
  3. Talk about one confusing topic! I think I changed my mind multiple times after reading through this thread. Ugh.
    2 points
  4. With taxes, I wonder if one has 20-30 years experience or one year experience 20-30 times.
    2 points
  5. Some of us will try to bait you into saying something inappropriate, just so you can join us in the doghouse. But if we don't succeed, we have confidence in the ability of our government to do the job.
    2 points
  6. Slacker. Anyone worth their salt should have a few warning points. We have to keep @jklcpa on her toes. If @kcjenkins was still moderating, we would see a boatload of warnings hitting the members. I think we should have a very nasty political fight on the board to get some points flowing. Just kidding Judy. Please don't shut me out from the board. I need you all this year. Tom Modesto, CA
    2 points
  7. "The IRS issued Notice 2019-11 on Wednesday, providing a waiver of the addition to tax under section 6654 of the tax code for the underpayment of estimated income tax for certain individuals who would otherwise be required to make tax year 2018 estimated income tax payments on or before Jan. 15, 2019. The waiver, though, is limited to individuals whose total withholding and estimated tax payments equal or exceed 85 percent of the tax shown on the return for the 2018 taxable year."
    1 point
  8. I am pleased to announce that I am member in good standing. No Warning Points so far. This tax season may significantly change that.
    1 point
  9. Supposedly, it was released 2 hours ago. If you want to sign up www.360law.com has a copy available. I will wait a few more hours until it's publicly available.
    1 point
  10. As a result of the tax law changes, I have had a huge uptick in people reaching out to me for my services. Is anyone else experiencing this? Uncertainty seems to be creating opportunity for us tax preparers.
    1 point
  11. One of the best quotes I ever heard was at a training session for an accounting software we used at the company. The operations Manager started asking if the software could do this and that and all kinds of things. The trainer replied "There is no PFM button on the keyboard" We all looked a little perplexed until he explained "PFM = pure frikkin magic". I use that line all the time now. Tom Modesto, CA
    1 point
  12. While not in the prep business, for us, change is what "changes" things here. Some we lose because they go out of business or find someone to offload to, some take on the work, to not have to pay someone else. Just today, I had to steer someone from ordering from us, as they thought they could lose their payroll service by finding "software" which could do everything for them (despite no experience, training, or even really reading over their service provided reports). I don't mind educating, but some simply do not believe there is no magic software which they can feed numbers into, prevents lose nut at the keyboard errors, makes their deposits on time, etc. Back "in the day", only experts used computers, and some, like us, wrote their own software. Now anyone can get a computer and software, and believe it is the holy grail. If that were true, I cold pick up a surgeon's kit..., or buy that perfect race car... Not complaining mind you, just pointing out, as the steward of our software, I have an obligation to be honest if someone clearly is not prepared to use it, even when the money is for my taking. I see no stewards at Costco next to the bin with tax software...
    1 point
  13. Tried everything. Then manually uninstalled then downloaded program again. That did the trick,
    1 point
  14. What's the problem with using your software company's engagement letter and modifying it to suit your needs?
    1 point
  15. H: When we installed ATX 2017 on our server in 2018, we then workstation installed several computers that were in the same building. Using the local network that happened to be wireless. When we installed the Hamachi VPN software in 2019, we were able to access the ATX2017 like we always had. That is sweet. We had moved the server computer to a new physical location away from these computers. However, in 2019, with ATX 2018, we have installed the local workstations without a problem. Now that we have to install to he distant computers, we hope the Hamachi VPN can support that. Otherwise, we might have to carry the distant computers to the other office, locally install the workstations, and hope it works like 2017. And you thought ATX tech support didn't understand things... Rich
    1 point
  16. It is my understanding from someone who spoke to the office of the counsel about the technical corrections that their position is that Section 162 has been around a long time, and there are plenty of court cases clarifying the law, so there was no need for clarification from the IRS. HA!
    1 point
  17. I remember watching the press conference at the capitol several weeks before Christmas 2017, listening to the congressional representatives talking about tax simplification, saying that most people would be able to file on a postcard, which they were waving around in front of the TV cameras. What you see is not always what you get. Situation Normal !
    1 point
  18. Wasn't this tax bill intended to SIMPLIFY the tax code ?
    1 point
  19. 1 point
  20. Really....anyone who watched the process of this bill getting butchered by the Washington political process knew it was going to be a cluster fudge. SNAFU is a very appropriate acronym for the tax laws of the US. Tom Modesto, CA
    1 point
  21. All I am sure of is I started studying the 199A last May and the more I study the more confused I get. Who would have thought a 20% deduction would turn into what it has. Geez!
    1 point
  22. Everytime I see a TT “a CPA has your back” commercial, I wonder if TT has the inside scope on 199a, I’m giving people the run around because I am unsure myself. “The only thing that I know, is that I know nothing”
    1 point
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