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Showing content with the highest reputation since 10/28/2010 in all areas

  1. 18 points
    Long time client. Has a rental, royalties, detailed schedule A, 2106 etc. Because they are friends, we always gave them a discount. Last year, their son talked them into going to Liberty so he could get a $50 referral payment. They also got a very heavily discounted return. Like only $17. But the bill would have been over $550 without the discount. So this year they want to come back. Sure, send me over your 2013 return. Roll the return from my software and put in the numbers from last year so I can roll the return again. Guess what, they don't match up? Why? Well, the rental has NO DEPRECIATION on the 2013 return. I keep looking at the schedule E and I don't see the depreciation. So that $17 return that got your son $50 cost you $1400 in Federal and State Taxes paid in 2013. Now I get to do the amended and the 2014. I bet they never leave again. And there will not be a discount this year. Tom Newark, CA
  2. 16 points
  3. 16 points
    ...wishing the ATX Community a happy 7th birthday. This site was created April 10, 2007.
  4. 15 points
    New client with five rentals. NOT a real estate professional. Came to me because HER LENDER told her that her 2013 and 2014 tax returns were not prepared correctly. Boy, that is the understatement of my short, illustrious career. Preparer put the rentals on Sch C, charitable donations on Sch C, made up 14,685 business miles, completely omitted depreciation (but the mileage made up for it). Lo and behold, we have EIC! The rentals are in a trailer park. Taxpayer lives in the last trailer in the row. There is NO travel. WTH? I also looked at what the preparer before this inept person did in 2012. She used Sch E. Good call there. However, two rentals, that had been depreciated for 16 years, were sold. Not a peep about accumulated depreciation on Form 4797. Taxpayer had gains of 32,000. Tax return comes out that she made 1,200. Where is IRS? These errors are GLARING. Stuff like this kills good tax preparers. In general, people here are not well off. They go to the preparer they can best afford. They either think all preparers know what they're doing, or they don't care if it's correct. This 2013 and 2014 preparer charged $150. It's worth nothing. She is making twice as much as me per hour and producing crap. How is a good preparer going to compete with these bad preparers if nobody is minding the store? I realize that many of you have all the business you want and/or have clients that will never leave you, no matter what. It's not like that in Rural, TN. C'mon, IRS, help a girl out.
  5. 14 points
    Ah yes, "the hipster underwear taxpayer strategy". Happens to me at least once a year. Taxpayer slips in a flattering (size), popular, functional and colorful 3 pak, trying to gain your generosity in calculating their tax liability. IRS knows all about it and they have sent out briefs on the subject to warn us to not get boxed in by this ploy.
  6. 14 points
    Long-time client (and family friend) was in an "unfortunate" marriage for several years. Her spouse earned cash (under the table) and had not filed taxes in 5+ years and was not going to start just because he got married...so I have had to file client's returns MFS even though jointly was better because husband did not want his name ona a return and refused to sign a MFJ return. Client finally divorced the guy (unfortunately not final until January 2016). Client demands to file HOH (daughter lives with her) instead of MFS. The problem is that client already told me in several previous conversations that she did not move out until Sept. 2015....so did NOT live apart last 6 months of the year. After reading some IRS literature I sent, client is now telling me to file HOH under assumption that they did NOT live together last 6 months. I told her I could not file that way, as much as I may want to, because I had reasonable belief that it was false. Client cried Client shouted Client is no longer client but I will sleep well knowing I did not file a false return. I figure she'll find another preparer this year...to whom she will know what not to say...and she will probably be back to me next year. This job.....
  7. 14 points
    Ok, you started it! Granddude pics for your viewing pleasure. 3 of the current 4 with one on the way in July.
  8. 14 points
  9. 14 points
    No pics? Being a Grandpa is the best thing in the world!!
  10. 14 points
    I am retiring from practice, gray hairs and all. I hope I can still drop in and chat with ya all, from time to time. Thirty seven years is long enough I think. Although I will still have to prepare mine,.. going back to pencil....NO SOFTWARE Giving away all my office furniture and equipment to charity today, hope they can use it or sell it. All in all it has been a rewarding career. I may miss it for a time, but I guess all things come to an end. My best wishes to every one of you pro's. Elrod
  11. 14 points
    7 years ago today, my high school sweetheart and wife of 17 years passed away. Some of you were with me in spirit then (on old ATX forum) and offered words of encouragement. Thank you. Life is a crazy-magical thing....the door closed on that part of my life....and another opened just a few months later....affording me the opportunity to spend the 2nd half of my life with a grade-school sweetheart. During this time of year that is so filled with tax returns and clients....a take a little time to remember and be thankful. The motto I've learned to live by: "Shit happens...get over it...live happy"
  12. 14 points
    Client decides to jump on board the direct marketing bandwagon and start a "business" selling hand bags/purses (through Thirty-One). I sit down with her and explain the whole idea of business vs. hobby and explain to her what expenses might be deductible if we do approach it as a business...to assist in reducing the affect of her $1,000 1099-MISC income. She admits that there is no area of her home used exclusively for this activity, so no OIH...thus I inform her that she cannot deduct mileage...even if it was business-related...which was in itself questionable. I also inform her that her cell phone is not deductible since (among other reasons) she does not have another home phone...just her cell. She seems to understand and leaves me with her papers with a positive attitude...understandably since her product cost and other legitimate expenses would reduce her "profit" to only approx. $300.00....not having much affect if any on her usual refund. However, this evening, she e-mails me that she has been talking to other people she knows that do such "businesses" and they have been deducting such expenses for years...and that if I cannot deduct those things, she wants her papers back...below is my response...first time in my 16 years that this has happened. She is a nice young lady, but so be it...I do not have time for that crap. I understand completely. I pride myself on preparing returns according to IRS regulations in a manner that would hold up under IRS audit. A person can claim anything on their tax returns and not suffer any negative consequences…until they are audited….and there are no shortage of preparers willing to claim those deductions in order to attract or retain clients. While the chances of you being the unlucky one is really small, I will not lower my standards or risk my professional reputation by putting my name on a return that I consider questionable. I will be home tomorrow evening after 7:00pm, and other evenings this week after 6:00pm. I will have your papers ready.
  13. 13 points
    Bahahahaha! I don't know, but I do know that every time a client says, "It's all there," I know for sure it's not all there. Every. Single. Time.
  14. 13 points
    I am right with you JB. You have to have some comfort in know you did the right thing. It's not even worth mentioning the consequences you could face had to succumbed to the client's desires. Good Job!!! All I know is that for every client that I have lost for what ever reason, at least two or three takes their place. Go figure. I fired a client last summer that was almost at the top of my PITA list. They opened the door by asking me the tax consequences of selling a building and have the buyer pay them partial cash and the rest with a check to avoid paying capital gains on the sale and if they absolutely had to report it. This opportunity was a blessing to say nope and now you breached our agreement and I can no longer provide you service as I cannot be part of anything that suggests tax fraud. I was told to forget everything I had just heard. Nope no can do, engagement ended. Man am I glad and I have already gained another S-Corp to take their place. So, stand up for what is right, you can't go wrong.
  15. 13 points
    My wife just mentioned how pleasant tax season is since we ridded our practice of some of the the real PITA's a few years ago - the kind that just like to keep everything in their world stirred up. So I had this thought. Would it be wrong to ask our prospective clients to submit to a personality test before we agree to take them on? Here is a sample of the client we will accept: Phone call yesterday: Client: Hi Ron, I just wanted to check and make sure you received the package I mailed a couple weeks ago. Me: Yes, client, we did get it. Things are just a little bogged down around here with the new reporting requirements and....... Client cuts me off mid-sentence: Ron, I don't care about all that. I have complete and utmost confidence in you and your staff. I just wanted to make sure you got my stuff, that's all. Have a wonderful day! Me: Thanks Client, we will be in touch. I want all of my clients to be like that.
  16. 13 points
    I really try not to judge...I can't know all of the sad/gory details of clients' lives and don't want to. However, when a client quits her two part-time jobs at the same time in 2014 because she has hit what she terms "the EIC sweet spot"...sits on her butt the remainder of the year being lazy (her words), chooses not to get insurance (even though subsidy would pay for almost all of it). gets sick and wants sympathy for not having health coverage and instead having big medical bills....then complains to me because her EIC and refund are not higher and how "that damn hospital" won't cut her a break on the bills. Her rent is subsidized through a county agency. She gets WIC (food stamp/card) and child support. Is mentally and physically able to work, but just chooses not to. Bitches to me for 10 minutes about how the government does nothing for her her refund is almost 25 times what she paid in. I need scotch
  17. 13 points
    Edit: I moved this so that we may all wish Jack our sincere congratulations, and so that it won't hijack another topic. It's a little misleading that the forum list shows Jack started his own thread of congrats. lol That was not the case. I should have used the "merge" function instead of "move". ~ Judy HEY!! I resemble that!! Passed all 3 EA exams last week. Just waiting on the official paperwork from the IRS. All of this talk about regulating preparers, and the ability to properly represent clients before the IRS are the reasons I stuck with it and won.
  18. 13 points
    6:15PM 6lbs 11.2oz 20.5 inches Caleb David Schlafman Mom & Baby are doing great!! Grandpa is doing an AWESOME job of being Grandpa!!
  19. 13 points
    So at church this morning, the Pastor says in his sermon that we are going to get audited by God some day. On the way home, my 18 year old son says he isn't worried about that audit because he will have a mileage log and his receipts when he gets there. He must be listening more than my wife and I think when we talk about clients at home. Tom Hollister, CA
  20. 13 points
    I had serious issues with 2012 ATX - you have all heard them. somehow Jack and I emailed and he offered to come all the way up from Ohio to Northern WI to fine-tune my computers and the ATX program. We worked out payment - I paid for airflight - my husband hemmed and hawed and it went up $100 or so in the meantime! I had a voucher at the Holiday Inn from a benefit and the car rental was insignificant and I paid way too little for his help that day! My office manager and I learned a ton and he really cleaned up the system, etc. A great learning experience and I did not have to bring my IT in, brought in someone who knew ATX instead. If you have any issues - I highly recommend Jack. Even my husband came around as Jack's knowledge of computers as well as ATX is superb. Plus we had a great dinner and then he got to see the great Northwoods! God's Country
  21. 12 points
    My new policy on simple returns is to tack on $50 for the first “it’s simple” and $25 for each subsequent “it’s simple,” up to three. Then it’s gonna be, “You’re right, this is really too simple a return for me to prepare as I specialize in difficult returns. Thanks for calling, but I can’t take this engagement.” "I should just do this myself," gets a punch in the stomach thru the phone.
  22. 12 points
    I saw this last night, I would love to get away with putting this on a card and handing it out as needed...
  23. 12 points
    I think if you can document that a hairstylist is present, you can pay for the lunch and get CE credit for the meeting.
  24. 12 points
    Sometimes I use a Ouija Board.
  25. 12 points
    "After further review of your situation in light of our recent discussions, we have determined that this office is not positioned to fulfill your requirements. We wish you the best in finding a firm with whom to work. Best Regards, " Nothing more.
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