tilt

F/Y 2014 FOOTNOTES

Gross Revenue         ~ $89,000

     Discounts given       ~$5,000  (multi-client at same call, etc.)

Net Revenue              ~$85,000

Clients                 502

Sch. A                  277

        B                  163

        C                    72      Many clients w/more than 1 business

        D                  135

        E                    85      Many clients w/more than 1 rental property

IN  HOME  TAX  PREPARATION  BENEFITS

1)     No need for a costly “client-visited” office.

2)     Can be operated comfortably from your home office.

3)     Ideal husband-wife operation.

4)     Seasonal consultants and/or office helpers can be easily used.

5)     If a “formal” office exists (or is desired), normal office hours, practices, etc, can be maintained there while the in-home service activities operate. This expands the client service hours available and provides the work-center for processing returns.

6)     There is very little competition in this home-service activity.

7)     “Forgotten” receipts or data are usually available at home.

8)     In-home service (for many activities) is currently popular.

9)     OUR OPERATING POLICY – During the normal filing season, our

     appointment schedule is 8a, 10a, 12p, 2p, 4p, 6p, 8p, and 10p. Having a

     full schedule, the risk of “losing data” is worrisome. When you end your

     day, if, for any reason, your collected client data are missing or garbled, it

     means rescheduling at a distant date…or…extending all the clients

     affected. Both are poor and distasteful options for the client.

Because of this, we do not use laptops (in homes) during the filing season

     We gather data and do a preliminary refund/liability workup on our own

     worksheets. This provides secure data for our office personnel to double-

     check and input…with zero risk of loss.

     During the non-season client visits, the risks of lost data are minimal, so

     laptops are fine.

10) The benefits to the client are many.

    a - no repeated “data-gathering” trips between home and office.

    b - children do not need a sitter.

    c - work is performed in the comfort and privacy of the home.

    d - refreshments/restrooms are readily available.

    e - client, parents, children, etc. can be serviced with a single visit.

    f - appointment time is easily kept.

    g - no late drives home after an 8P or 10P appointment.          

    h - bad weather is no inconvenience to the client. 

11) In-home service makes the 8P or 10P appointment more appealing.

12) Convenience of adding services (financial, etc. with records availability).

13) No unplanned drop-ins.

14) YOU set your schedule.

We will train you in how to maximize your scheduling.  We will also work with you for 1 year as a liaison if requested. Office equipment is available for purchase also.

For more information, please contact Sandi at [email protected]

This is how I respond and have had no trouble with the mortgage companies accepting this letter.

I've found this to be a helpful link in the past.

http://www.ftb.ca.gov/individuals/hoh/selftest/Index.shtml

I use Adobe, but I've heard really good things about Bullzip. My link

Although legislation has been introduced to repeal this, legislation is often introduced and goes no further. I won't hold my breath, but I will contact my congressman.

http://www.govtrack.us/congress/billtext.xpd?bill=h111-5141

Great news! And I'll keep you on my prayer list.

CA has a practitioner hotline: 916-845-7057

I've found this to be a good site. It includes all the local rates. http://www.zip2tax.com/?s=google

Wow, I didn't realize that it had been in existence so long. Although I don't use ATX, I first found this group when I previewed the product. The folks are so great here, I feel honored to still be a small part of you. Thanks a million.

May you have a wonderful birthday!!!! Thank you so much for all you do - I wish I could give back to you.

Aw jeez, I'm so brain-dead I didn't read the humor in it and took it as a serious post. Is it April 16 yet?

Sorry KC, but this one is another legend - Snopes.

http://www.snopes.com/humor/jokes/windshield.asp

You are added to my prayer list also. I know the distractions as I also have to make a decision by Friday for treatment. We will all get throught this.

Per Snopes - false. http://www.snopes.com/politics/business/captrade.asp

I guess I got lucky. Had an audit scheduled for 3/19 for a business client. Very reasonable auditor, and great record-keeping client. The audit was rescheduled for 4/26 but she wanted as many receipts as possible by the 19th. The client hand delivered a boxfull broken down by each category. This one feels like a win both ways.

Thanks Linda. I was able to find someone who took very good care of my client.

I have a really nice guy client in Fremont, CA who has 3 rental properties. Apparently he's received a 1099-C for one of them for a short sale and may receive another one for another property. I am not at all comfortable working with 1099-C's and would like to find another preparer for him. If you have the experience and are interested, please let me know. Thank you.

I got this from a tech newletter I subscribe to and wanted to pass it along if it's of any interest.

WinPatrol Plus for Under a Buck

One of my favorite security programs can be had for under a buck. Yep, the current version of WinPatrol, normally $30, will cost you a mere 99 cents.

This is a one-day only experiment starting at midnight EST on Jan 29th and will last 24 hours. It will be available at WinPatrol.com. The 99 cent license will be good for life. The FAQ and other details are on WinPatrol author Bill Pytlovany's blog.

"LOL -- I can't believe that's the most often question asked," said Bill when I questioned him about the timing. To clear it up, Bill said, "on Thursday night at midnight, I'll be in bed. A little batch file will automatically flip the switch so the price will be 99 cents. The bottom line is every minute of Eastern Standard Time that exists throughout January 29 will have the experimental pricing." So there.

Ladies and gents, this is not a scam -- and a deal you ought not to pass up.

Or use this one. http://tinyurl.com/2dugul

From just some of the postings this week:

If they’re a C corp, can they report on a Sch. C?

What kind of questions do I need to ask for EIC?

My client has been taking 179 deductions to increase his NOL for the last 5 years. Is he at risk for an audit? Why?

Can an unmarried couple file MFJ?

How or where do I enter the ST and LT totals from a brokerage statement?

How do I calculate EIC?

How do you set up an LLC Corp?

What is the Franchise Tax fee?

How can I change the due date of a return?

Can I pay last year’s taxes on this year’s return?

When can I efile?

When can I efile without a W-2?

What credits are expiring?

Can I have the client’s refund sent to my bank account?

What kind of printer ink should I use?

Do I need to use a Sch. D or 4797 for a sale?

Where do you enter an energy credit (or property tax)?

When will the tax program be complete?

Each and every one of these questions embarrass me. I am an unenrolled preparer subject to CTEC registration. I must complete a certain number of CPE each year (I far exceed that), register and maintain a surety bond. I am so disgusted that I am going to go for my EA designation. I am a member of many forums (some of which I am more active on than others) but I learn from all. But I have to say that the ProSeries Live Community is, with the exception of several individuals, the most ignorant forum. There is truly no limit to the stupidity of those who are able to post. It is not limited to professional individuals, as it purports to be, but is open to anyone who purchases an Intuit product, such as TurboTax. These postings only show me how much regulation of preparers is needed. I have no fear of being able to past the upcoming tests, but will instead hold myself to an even higher standard.

They changed the rules again. From the ES instructions:

Installment Payments – Installments due for each taxable year beginning on or

after January 1, 2010 shall be thirty percent of the required annual payment for the

1st required installment, forty percent of the required annual payment for the 2nd

required installment, no installment is due for the 3rd required installment, and

thirty percent of the required annual payment for the 4th required installment.

For several years we've gone to the IRS forum in Las Vegas held at the Rio. Unfortunately, we were not able to go to Vegas this year. I know it was held at Mandalay Bay. For those who have attended both, what was your feeling about Mandalay Bay? Were there improvements in traffic flow? Did you find it difficult to learn new layouts? Any real problems? We're looking forward to going in 2010 and are interested in your comments and impressions. Thank you.

Some states do offer a credit for new washers that meet certain specifications. Oregon does, I bought a new washer, had to send purchase information to the state and they sent me back an Appliance Certification Number that I have to put on my state return to receive the credit.

That's the way I understand it.

Wow! I feel dumb. I didn't know there was such controversy.