Margaret CPA in OH

Thanks so much for the suggestion...but it didn't work. It's still in Transmitted to EFC status but the history shows rejected. Looks like a loooooonngg wait for support in my future...

I agree. I does work great. I've already filed for 3 clients.

I received one but another I transmitted shows transmitted with no rejection errors. However, when I look at the history, it shows that it was rejected. I can't recreate and send again because it is still in transmitted state. Yikes!

I have a "transmitted to efc" status 1099 file from yesterday that shows no rejection errors but on the status history shows rejected. Of course I cannot resend. I cannot recreate because the status is transmitted. Any suggestions?

Thanks for this information. I have a "transmitted to efc" status 1099 file from yesterday that shows no rejection errors but on the status history shows rejected. Of course I cannot resend...Not pretty!

Well, the losses as an S-corp would have been deductible only to extent of basis. With ongoing losses, he might not have had sufficient basis to take them. I have a client now who has significant losses that cannot be taken because of no basis. He exists yet because of credit card debt and equipment. He is not happy!

Funny but I have the opposite problem. I want to be able to add a mailing slip to each return automatically when started, but there exisist no such option. I have to go to ADD FORMS and them type "client" in the search box to find the Client Mailing Slip, and Add it. I do this for each return.

I put this on top of each return and then place the return in a large envelope with address windows. The envelope says "Important Tax Documents Enclosed". I saved some money doing this and it looks very professional.

With the return open, go to the letter and click on Options. 2. Check to print: gives you the options. Also, when you select Print at the top and the print menu comes up, click on the + sign by the Client Ltr and see which boxes are checked. Choose only those you want. It works for me.

Thanks, Karen, for confirming. I wasn't really certain any longer. I just recalled a variety of interesting offerings. Hmmm, the things we worry about... I guess I was just overwhelmed with 8-10 other pressing issues and decided to divert my attention to fun!

Many thanks to all! - and it is Janitor Bob we have to thank for the bananas. I just helped a bunch.....

z

Ah, yes, but your avatar brings bananas to mind and thus the confusion on my part. Thanks to you and JB for the lovely bananas!

And please pay attention to the proper spelling of "frikken... or was that frikkin..." That crucial word in describing Zeke's precious, uh, banana, had many mangled spellings last year so let's be clear about which banana is being discussed.

Happy Birthday to all these January babies! So many!

Lion, I notice that you are making great headway in your 500 post goal. Much of that has been devoted to this particular client issue. I suggest that you consider billing her for the time spent here as "research" or consultation. It is justified, in my opinion, as you've gotten much insight, support and many suggestions here. I especially like Jainen's about the refrigerator. Just make sure it fits the space in your kitchen!

I can understand why she can't live on $10,000 per month. If I didn't have to work and could spend each and every day trying to figure out how to amuse myself, I'd probably need more than $10,000 per month to accomplish that task. As it is, most of us must get up & go to a job every day, which generally keeps us from having to deal with that kind of problem. I agree that it's unfair for her to pay taxes on that money, and the lawyer should give her a break on the $450/hr. Maybe if you'll keep helping her for free, at least her average hourly rate for getting things the way she wants them will go down; after all, this really is all about making her life more comfortable. She has my sympathy...

What is that protrusion from your cheek? (By the way, your logic is impeccable!)

Excellent reminder and so true! I do have one PITA who doesn't seem to be price-sensitive but I am getting really sensitive to the pains he is causing. I will be "firing" him after this tax season. Life is too short to continue dealing with those sorts!

Yes, more people may try and prepare their own returns, but think of all that business we'll get 3-4 years down the road handling their audits and/or straightening out the messes some of them made.

Of course, we all have to eat between now and that point, so I'm notifying my clients that I'm raising my rates again this year. It may be risky in the current environment, but I'm not sure it's wise to let the financial panic inhibit good business practices. What's the opinion of the rest of you regarding fees?

Raising rates is tricky no matter when it is done. I decided to hold the line this year as I increased rates in 2006. However, I am informing clients about the more stringent requirements for preparers and included a summary again of the substantiation requirements for charitable contributions.

About mid-year, I will send out another letter and include the fact that my liability insurance has increased by 14%. That, the increasing complexity of tax laws, and the fact that I have maintained rates for 3 years will be the basis for raising rates for 2010. I do expect to then lose a handful of clients but those will likely be the ones I wouldn't mind losing anyway for financial reasons but always hate to lose those clients who are considered friends, too.

Hopefully I can maintain enough clients to make up for the losses. It would be great to get a couple new ones, too!

I love tax software that will give a BIG refund. My customers like big refunds. Jerome says that if you can make a program that will give everybody a big refund, you will make millions. Jerome is real smart you know.

Betty Sue

Welcome back, Betty Sue! We've missed you and Jerome so much. How is the beauty shop business these days? I'll bet Jerome, being as how he is soooo smart, has helped make your shop the best in town.

Yes, I read through it the other day, downloaded and printed it out. If any client asks me to provide tax information to another, I think I will forward the document and ask what they think my charge should be to comply. Already I do have in my engagement letter that the returns I prepare are only for submission to the authorities and permission must be asked to use for any other purpose. So far, I haven't been asked for that permission other than one time several years ago. We'll see what the outcome is but I am looking ever more seriously into retirement!

Jainen, great idea! I think we will be discussing all this for 2009 early in the year. And thanks again for input from all!

Thanks to all for your suggestions. This is a 2 owner C-corp with a home office so commuting is not a factor. They are not highly paid by any means which is one reason they want the company to reimburse for the gas for the business miles, about 1300. I have suggested OldJack's calculation to get close to a fair amount this year and to have the company pay for everything going forward. We'll see what happens. Thanks again!

Thanks for the reply. Good records? I only wish! They have no idea about the total spent for gas for this car as they have a personal car as well. Yes, the personal use is included on the W-2. They just want reimbursement for the business miles on the company car since they paid for the gas. I just don't have a good way to determine that but am pretty sure it shouldn't be at the standard rate which includes the depreciation. Any other suggestions are most welcome!

I have a new C-corp which owns a car used by owner/shareholder for business and personal use. This person not the company pays for the gas. I can calculate the inclusion amount for personal use but what about reimbursing the person for the gas paid for business mileage? The per mile rate includes depreciation which the company takes. Do I just subtract that from the standard rate? If so, what is it for 2008? I see that for 2007 it was 19 cents. If not, what is the correct way to handle this as the client wants to be repaid for the gas used for business miles.

Thanks for the help!

I have been working with a clinic for the homeless/indigent mentally ill for about 12 years. It sounds as though the previous accountant in your case has done a decent job in setting up the books.

My guess is your new client is the recipient of federal and state money as well as individual grants so almost surely has an annual audit. Make good friends with the audit firm/individual auditor. They will be a great source of assistance during the year as the audit will flow much more smoothly if the books and procedures are in good shape. Get to know the software used and if they use something like Donor Perfect for online contributions, learn about that, too, and how the data is transferred.

The biggest caveat is to be aware of all the other reporting requirements of the funding sources, especially if there are Medicaid dollars involved. And good luck!

I'll take that as a strong hint for the next barbecue gift lunch. Hopefully, enough of us will be partaking of the excellent support from VMS that we can come through for you all. Wish us all luck this tax season. I think it will be a wild ride!

Please don't mistake my concern about the number of pinned topics with yours in particular. This has been on my mind for a while and probably bothers no one but me. It's likely only my problem because I have enlarged the text on my screen for my old eyes. But many of us feel free to express ourselves here so I did. I am a supporter of this board and feel comfortable providing my input.

I am grateful for your generous offers of assistance and am evaluating my budget to see if it will accommodate the wonderful support services your company provides. I am especially moved that so many former ATX folks care enough about those of us who use the product to find us and offer assistance. I was one who gladly supported the barbecue and would do it again for any group of such dedicated tech support personnel. But they don't seem to exist at CCH, just at VMS. So thanks again for being there and please don't take offense! And please do stick around...

I think that this should be a pinned topic as well and am glad to see it has been done. What I am less happy about is that the pinned topics are beginning to overtake the active topics. It gets a bit annoying to me to have to scroll down and down to get to the topics of interest and commentary. Is it possible to move the topics to the first thing on the page and the pinned topics to the bottom? I apologize if I am the only one concerned about this and defer to those who know better.

I don't log off either but, from time to time, I have to delete cookies and clear the browser. When? Well, when I call ATX for support and that is the first thing they tell me to do! So, I have to type in all those things again when visiting my favorites.

I also noticed the board is not very active, but there are quite a few folks that I don't recognize after these 10 years with ATX. The more users, the better, I think, and it would be good to nurture those users to a point of satisfaction with the program. It seems that might help convince CCH that there is a critical mass of happy (more or less) ATX camper users out here and to keep the program.