Leaderboard

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.

Stolen from another forum. Here are some band names comprised of tax professionals. Feel free to add our own. The Rite-Offs Double Entry Goodwill 'n Boot Qualifying Children LIFO of the Party Due Diligence

Just upgraded from three 24 inch monitors to three 32 inch curved monitors. Measured horizontally, it's just shy of 7 feet of screen space, because screens are measured horizontally. My eyes are so happy! (Excuse the mess!)

I have been on a little adventure, believe it or not. I hadn't been feeling well for a while and one morning I told my husband that I thought I needed help. Well, ER led to 7 days in the hospital (so they tell me). I had viral bronchitis and then developed bacterial pneumonia and had myself a vacation of sorts. If anyone has noticed that I have not been nosing around, that is why, but I am now home and on the way to a full recovery. Turns out that I was sick for a very long time and I guess I knew it but I just thought that was the way life was. Well, let me tell you , I have not breathed so well in years and I am back. This was my first fullish day on the computer and I am pretty tired so will keep you posted. I am so Happy to be back and Life is Wonderful. Love to each and every one of you. I had my doubts there for a while, but I don't do well with meds and they sort of messed me up while they were curing me.

I definitely would be forced to retire. I hope that everyone remembers Eric before you spend all of your profits. Also, a special Thank You to Judy for her pristine Moderation and all of the rest of you who reach out so generously to help those of us in need. I couldn't do this without all of you.

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.

When you see someone's name pop up on caller ID and your heart drops, fire them. Life's too short to be miserable.

It gets better. I told her on the phone that if she signed and brought back in person to put it in my box. Oh no, where did she leave it? It was under a rock on my office steps.

Don't forget the dang sticky notes. Sorry, you don't need to write me a note that your W2 is a W2!

Cooking The Books

Happy New Year to everyone here. May we all have a season without too much turmoil. Enjoy the last deep breath before the onslaught.

About a week ago on my way to North Carolina, I stopped in at Rita's place in Crossville, TN. Yes - this is the same Rita that hosted our get-together 6-7 years ago. She looked good in her office perched on a hillside. She and I have been friends for a long time and live an hour plus away. And as I was leaving a pretty young lady came in to have her taxes done. Not a lot else to say, but for some of you that came to her place that year - I thought you like to know that she's still doing well, even though she doesn't post much. Just one of the great people who are on this board.

8879 signed with a highlighter. Is my instruction slip that confusing?

"I've Got Nexus" (The kids will never get it. ) "Unbalanced Entry" (for us old people) I really liked Patrick Michael's "LIFO of the Party"

The Lost The Lonely The Loophole

It's January 2. The year is going by fast.

And to all, God Bless...

I have to take my hats off to Abby Normal. I should hesitate because there are so many other great people on this board that should be mentioned. I am notorious for my cumbersome phraseology. Often I will ask a question and get responses from good people who, from their responses, are unclear what I am asking. This is my own problem, and not anyone else's. Often I have to repeat myself, and the conversation runs in many directions, very much like a "circular reference" in Excel. Occasionally you meet someone who can perceive what is in your mind - to the extent they know what you are saying before it ever comes out of your mouth. Hopefully, in your years of human experience, you have encountered a few such people. Abby Normal seems to know exactly what I am asking, why I'm asking, as if he is in my own shoes sharing the subject. Not just once, but consistently over and over again. I met this Abby Normal (and forgot his real name) at the gathering at Rita's in 2018, which was a delightful event for myself and my wife. Again, there are a number of helpful people in this community and I don't want to lessen their contributions by not mentioning them. Thanks to all who have put up with my awkward choice of words. Abby, wherever you are, please stay with us...

I stay out of my client's investments, until last year, I broke my rule. Client is in a PTP for 30 days, loses $100 and the K-1 drops a few dollars of interest expense and depreciation on her. Add in my charge for Sch E page 2 and the 1256 straddle form and she lost a couple hundred bucks for a 30 day investment. I asked if she knew what the partnership did, she had no clue. So I gave her some questions to ask the advisor. She called me back and said he promised not to put her into those investments again. I never know where the line is to talk to my clients about their investments when I think they are being taken advantage of. I try to tell myself it is none of my business, but I care about my clients and it pi$$3s me off when I see these "professional advisors" putting their profits before my clients best interests. Tom Longview, TX

I'm getting old and spicy, and now, when people tell me something preposterous (or give me some crazy tax rule they 'know'), I look them straight in the eye and say, 'Did your hairdresser tell you that'? Stops them cold. Literally. You should try it. They look at me dumbfounded for a minute, then they usually chuckle, and then they remember that it's a 'fantasy tax scenario', and we never speak of it again. You have to be over 50 to pull this off, but I've now made the cut, and I use it every time.

Immigrant tax reporting aside, this agreement violates the sanctity of the privacy bond between taxpayers and the IRS. We voluntarily give them our most private data and that of our household members and they lock it up so tightly that most of their own employees can't access it. In my Master's course I learned that IRS can share your data with NO ONE, the only exceptions being suspected terrorism and money laundering. We used to joke that you could list your occupation as Hit Man or Bank Robber and the IRS would keep it a secret. Breaking that bond can further dent the agency's tarnished image. ICE is demanding this disclosure to get immigrants' addresses. I think the tax return is not a good place to look. People move, have PO boxes, use someone else's address to get their mail because their own box is insecure, still use Mom's address because they're away at school or she always handles everything. I'm sure all of us have had a client or two who suddenly notices that the address we've been using for five years has the wrong street number of spelling.

Well, that is one way to lessen the number of tax returns the IRS has to process, justifying the force reduction. s/s Super Sarcastic - funny not political. I hope you think it is funny. If Judy kicks me off the board I won't have anyone to talk to at all.... Tom Longview, TX

There are lovely people I serve too though. I delivered a return yesterday to a client/friend of almost 40 years. She's 95 now in assisted living. Return isn't *that* complicated but has half a dozen 1099Rs, one consol broker 1099 package with only 40 page or so, the bigger main consol broker 1099 package that was only 60 pages, and a PTP. We had a really nice visit and did some reminiscing. People like her remind me why I still do this work.

For future use for everyone using ATX, I'm going to copy Abby Normal's instructions to a new post of how to backup ATX data outside of the program and pin it at the top of general chat.

I would: Proceed to file 2024 return (with corrrect correct carryforward figures).

We are not open to the public on weekends so we can get stuff done. Plus I can crank the music !!!! Nothing better than classic Sabbath, Aerosmith, Steely Dan and Zep !!!

I remember at an IRS forum back in the days of paper filing hearing an IRS agent say that he knew it wasn't the preparer's fault when they got returns in with no signature - they could see the highlights and the sticky notes saying sign here, but there was still no signature. I also put the drop off box in at our office because I had a customer that left his papers in the grill out back. Took a couple of years but I finally convinced him to use the box instead of the grill.

While I understand the desire to be DONE on April 15th, I also don't want to work myself to the bone three months of the year. I use extensions extensively (intended doubling up) and work steadily while still taking Sundays off all season. Do what works for you, but remember that extensions are your very good friend. I'd rather put a client on extension and do the returns correctly the first time, than rush to finish and find an error - or get a corrected consolidated 1099 - months later that makes an amended return required.

I am so glad that I don't have to deal much with current stuff, but I am still dealing with 2023 letters from my terrible, rotten 2024. My 96 year old dad just passed away two weeks ago after being hospitalized with Influenza A, I had to have my knee manipulated for the second time in the OR, (this one actually worked and my range of motion is pretty good) and today I found out that a bone implant from 4 years ago has failed. I am not going through that again. I can't deal with it here, because we are finally moving to Littleton, CO on 4/2. Our new grandson will be born on 3/10 as long as he is not as difficult as his father was. We are over the moon about being close to them and we have a mountain view! One of my clients received a "we need 60 more days to research" from the first request that I sent and received a second 60 day letter last week. I don't expect it to get much better. I feel sorry for them. Morale has to be pretty low. I really hope that I don't end up getting a tax job in Colorado, but I am starting to worry about the part time job market for older workers. I miss you guys, but have not have much time to hang out here. Everyone hang in there and take care. Bonnie

You know I re-wrote that post three times to get it to "Judy Acceptable" standards. Tom Longview, TX

If it's been the 21 days and client calls me about their refund, I'm going to tell them to make phone calls to their Rep and both Senators.

As long as they will all play in the Audit-torium!

Ditto all the above! Don't always agree with you (but that's OK), and your use of abbreviations, (most times), leave me confused. But your insight, and especially your "view" from the other side of the table on employment issues, have been invaluable! This is 1 vote against you having "outlasted my welcome". Please reconsider.

Merry Christmas Everyone!

The Happiest of Holidays to everyone. I feel as though you all are family and I look forward to spending some precious time with you. Always take the high road!

Enjoy a few days before those 1099s start rolling out.

Merry Christmas!

I don't believe you are a tax preparer with a desk that clean!!!!!!!!!!!!! Mine has not been that clean since the day I put the desk in the office. Tom Longview, TX

HAVE A GREAT DAY.

No, the losses in year of death are handled like any other year. Any capital losses that are unused (those that would carryfwd if the person lived) are lost. They die with the decedent.

Ask your hairdresser Tom Longview, TX

I think these partnerships that investment advisors purchase, especially within IRA’s, must pay really generous commissions. After all, SOMEBODY needs to benefit from all this mess created by the k-1’s.

i totally agree. I can remember working 11 hour days and drinking lots of coffee. I have been gradually cutting back the last decade and now I just work mornings

Could be bad advice from the preparer; could be bad listening by the taxpayer. Just recently I had a client call me about a transaction which we had discussed 3-4 months ago. At that time she told me what a friend had told her about the taxation of the capital gains. I explained to her why that advice from her friend was dead wrong and I then gave her the correct information. On this subsequent conversation she repeated the bad advice to me, and when I corrected her she said "But I remember you telling me that on our last conversation." Fortunately I had made notes and more-or-less read them back to her. Either I'm a very bad communicator, she's a very bad listener, or (most likely) she only remembers what she wanted to hear rather than what was said.

One of the advantages of winding down, you can fire anyone you want and not feel bad about it.

My doctor is in a band called DNR. My hubby the retired teacher has a colleague in a band called Old School.

I think I need to go on another week long bike ride.