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MsTabbyKats

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Everything posted by MsTabbyKats

  1. LOL...I'll let the "good talking to" for his wife to take care of (She must be aware of whatever his problem is). I gave him about 300 clients and helped way more than Jack thinks I should have to do the 2015 returns. I'm not interested in his retention of those clients....that was all up to him. And based on the myriad of (unsolicited) negative feedback, that rate is going to be very low. I didn't even get one positive comment. Anyone coming to me now for tax preparation won't be referred to him.
  2. As you may remember, I was diagnosed with breast cancer in early Oct. As soon as the initial mammo showed "something"....I decided if there was anything bad....I was going to retire. I had been trying to downsize for a few years, my husband sold his business a year ago....and I just didn't want any more responsibilities. And, getting a cancer diagnosis was "the signal from above". My immediate decision was to just give referrals. But, 2 days after the diagnosis (on a Thursday) I found this guy's listing on Craigslist...that he wanted to buy a business. I called him up and asked if he wanted referrals. (OK...I know this isn't PC, but it was based on ethnicity and knowledge of a language...and thought he could bond with a large per centage of my clients.) He told me that he was a CPA (which I verified), had a Masters in Taxation (he's 61...I couldn't ask for school records), an MBA in Accounting, his wife was an attorney (which I verified) and that he had an office in a very convenient and high rent area (which I verified). He also said he had 20+ years experience (I was able to verify that he was an e-filer and found statistics for 2014 and 2015). There were no negative comments about him in Yelp or the BBB...or anywhere. On Friday he told he that instead of referrals he'd rather buy the business. So, we made a date for Sunday. I told him everything. Mostly foreign born clients; mostly highly educated; very few "off the street" people; mostly done on-line by e-mail. He came over on Sunday. I gave him the list showing what I charged each person. I showed him my income for a couple of years. He was lucid, well spoken, sounded intelligent and said he was eager "to expand". We worked out a price that was very generous for me. Our agreement was more of a "handshake deal" than one that could be upheld in court. He gave me checks on the spot. I had no risk. He had all the risk. I could have not given him access to the 2014 information. I could have died (he knew I had breast cancer). I could have just "run off" or changed my phone number and closed my e-mail account. I was confident that I was leaving the clients in good hands. From Oct until the season started he did a couple of returns which were on-line jobs, and one acquaintance who needed a consultation went to his office...she was happy with him. Any e-mails/calls I got from clients was referred to him...so he could introduce himself. I don't think I could have done more to vet him and I couldn't have been happier to find him. He had excellent credentials, an office in a very convenient location, spoke the first language of so many of my clients....I thought he was a godsend. Remember, I wasn't hiring him; I was selling to him. And I was 100% transparent about what my business was all about. The problems started as soon as the season started, when people were complaining about "poor communications". And then the errors that clients found started coming. My "mental professional" friend said he may have "early dementia" which could be vetted by a "psych evaluation", but I don't think that's part of the selling process. Hopefully when the audits start, the clients will go directly to him and only to him. In Oct I told him "It's all yours. I'm here to advise you, but don't get me involved with any of the clients unless absolutely necessary." And that's the way I wish it were.
  3. And you continue to solidify my opinion....that you lack, as my people would say "rachamim"
  4. I promise, this is the last one I will post. And I think even Jack in Ohio will understand why I can't "let go" now. I woke up to this e-mail; client is an MD, surgical resident....so again, not a dumb person. Read it slowly, thoroughly....and to the end. Firstly, I am not an accountant. You charged me $200 to file my 2015 return and amend my 2014 return to reflect my married filing status. In fact, I paid you the full amount by credit card prior to you even completing the 2014 amendment because you gave me your "word". The mistake on my 2015 return should never have happened in the first place. I gave you all the information as part of full disclosure (the Onyx 1099 came on a single sheet of paper which I scanned and sent you). Rather than asking me how I made so much money in such a short amount of time and which hospital I work at, perhaps you should have asked me why there are two 1099's from Onyx? I did review the return (after requesting the pdf) to the best of my ability. I expected that you had done all of the number crunching correctly. Further, I had to request you to send me the final submitted tax return (which you sent me a day later - Bonnie always sent me the final version prior to receiving payment by check, which I always mailed to her, which I have done for several years). In addition, you call me, accuse me unnecessarily, mock me, call me a "pain in the ass" and then hang up the phone...a little unprofessional? Especially after I trusted you to file my 2015 return (correctly, with all the information you had at hand) and make the amendment to my 2014 return to reflect married joint filing status, and paid you full in advance for your services. That is all I expected. Once again, I'm not a CPA. I would appreciate it if you stick to your "word" and make the appropriate changes to my 2015 return & amendment to my 2014 return. Also, if you could please send me final copies of both the 2014 & 2015 returns for my records, i would appreciate it. And I promise, like you requested, you will not be hearing from me again. Thank you,
  5. There's a patern here...and this client got in touch with the buyer over a month ago. It's one of those "one W-2" returns that would take about 10 minutes to do. No need for an extension..... These clients....at least all the ones I've posted about today.....all have PhDs in science. The CT guy is a professor at Yale. This one does research at Mt Sinai Medical Center here. If they say "it's so"....."it's so".
  6. An e-mail I just got from another unhappy client: Hello I am sorry to bother you once more but I really a copy of the file(s) with my tax returns. Hope everything was OK (the Feds still have no taken their money) but I need them as a proof that me and my wife live together (for the immigration services) Thank you for your cooperation and have a nice weekend: It looks like the buyer never sent him a PDF (another one filed without the client approving) and that direct debit wasn't included. Yes we all make mistakes and we all don't know every states rules....but "the buyer" is beyond incompetant. I may recommend that form to this client as these mistakes that could affect his wife's immigration status.
  7. Thank you....I didn't know this existed.
  8. Let me make this clear.....I do not want to do tax returns ever again, except for me, my husband and my son. I love having no obligations other than to indulge myself. That being said, I just got another complaint from another client. "The buyer" did not gve him the $300 CT car registration credit. I told "the buyer" to amend it. This was after it took weeks for him to do the return after he got the W-2. Last night I got an earful from another client who went to his office.....and the chaos that ensued on 4/15. The guy owed about $1000. "The buyer" gave him paper returns to mail in instead of e-filing, but didn't tell him that he needed to send them in. Seriously....he really shouldn't be doing tax returns. There is definitely some "brain issue".....probably early dementia.
  9. Jack- Just because someone isn't giving me money any longer doesn't mean I don't care about what happens to them. Today I handled 2 "awful" feedbacks and the aftermath; and, yes, "the buyer" should have done this, but neither x-client wanted to deal with him, and I felt he would have messed both returns up even more. So I spent a few minutes of my time. And I told each one if there are any future issues to feel free to call me. My clients loved me because they were all treated as if my bff. Even when they had problems not tax related I was always available to listen. I was very touched that I received so many "I miss you" messages (granted...many were because of their dissatisfaction with "the buyer"). I love not having the responsibility, not worrying that the computer won't turn on in the morning or the printer won't print, not having to answer the phone and e-mails 24/7 etc. Now I go to the gym almost every day, and instead of sitting in front of a screen and snacking, I lost 25 lbs. Tax preparation was a hobby that I did in my home and a way to keep my mind active to me. It was never about "making money". I planned well for retirement and life is great. But, I will always be here if any of my former clients need something that I can help with.
  10. As you may remember (or if not here are the facts) I sold my business to someone and he was having problems from the start (lack of knowledge, lack of communications, sloppy). I cannot ever start to tell you how bad (for example...he filed a NYS return and 2 weeks later the client got an audit notice for a Schedule C with $0 income and $17K expenses). It has come to my attention, from multiple former clients, that he filed returns without sending them a pdf to approve. So, in other words, the clients did not even see what was e-filed before it was e-filed. And obviously, no 8879 was signed. Judging by the (lack of) quality of his work, I am anticipating that there will be many audits. If people report to the IRS that the return was filed without consent, considering he is a CPA, are there sanctions against him? (And yes, he is a bona fide CPA.) I hope you all had a good and profitable season! Thanks for any insight (and please, no "it's not your concern anymore". These were all good clients for many years. I have this awful guilt that I recommended him and I hate to see them have problems.)
  11. A non resident alien with $8K would be required to file a 1040 NR. Since the taxpayer files alone and there is only one exemption allowed (no standard deduction), there would be over $4K of taxable income. He should have owed money. Until a few years ago the W-7 was a little more confusing and it was easy to make mistakes and therefore the application denied.
  12. Yes you can. Check the W-7 instructions. There are exceptions. Opening a bank account is one of them.
  13. I think you're all wrong. Taxpayer needs information from the prior year for this year's return.
  14. If you recall...I was supposed to be on a cruise this week. Well DH and I both got the flu so we had to cancel....and I told "new guy" not to call (no voice) but to e-mail. I didn't hear from him for 10 days...nor did I get any complaints. I thought I was home free. I promised clients I would be there for a smooth transition...and this one client I promised I'd review everything. DH thinks "new guy" will tell me to mind my own business, lol. But, I really hate leaving someone in the position where the IRS will add $15K to his income. Most of my clients were "more than clients" sending me checks. Personal connections were built.....I don't want them to be screwed. The cruise is rescheduled for 4/3...but the divorce will be final on 4/15 (or whatever date it is this year).
  15. To add: Client sent me his version (new guy did send me old version)...and all W-2s are there. He did do a NJ return...but left on a NY (no income, no residency in 2015). Other mistakes still stand.
  16. OMG....I know I need to "divorce myself" but: One client would only use the new guy if I promised to review. So, new guy sent me the return to review. I really and sincerely hope he sent me the wrong return...like maybe this was a preliminary version. 1. One W-2 (there were 3) was left out 2. Code P on W-2 was left off (no 3903 generated so IRS will put $$$ into LIne 7) 3. Part year CA/NJ...but he did Part year CA/NY 4.1098-T...no worksheet showing excess payments went towards school expenses...so spouse will be double taxed on about $13K Well, the good news is that when everyone gets audited it won't be my responsibility. (And this is what I consider a simple return.)
  17. Terry said he'd give a refund IF he was incorrect or missed something......not if the new preparer used other criteria. Anyone who has confidence if their work should do this. And anyone who isn't happy with the results should be able to get a second opinion. As long as the first preparer is paid...let the client spend more money and feel comfortable. I already said I used to do this and at times I would suggest it. When I suggested it, the clients knew I stood behind my work and I wasn't afraid of criticism. You're doing the right thing, Terry.
  18. When I had clients who were sure the only reason they owed was because I made a mistake I would tell them to go anywhere else...and, if with the same information, the results were different, I'd issue a refund. I never had to give a refund. When you review, make sure the facts haven't changed.
  19. I used Tax Act and loved it. It walks you thru the return, so if you're not sure of something you do it "the civilian " way. i think it's very easy to learn.
  20. No problem...... I was thinking of "retiring" for a few years. Instead, I fired clients, outsourced clients, only accepted a few new clients. As soon as I had to repeat the mammogram I told DH "if it's anything...I'm finished with taxes". I obviously don't know my health future, but right now I feel great.....and I want to take advantage of that.
  21. Sorry but you're wrong. I don't need or want the money. DH and I, to put it bluntly...have a lot. My tax prep business started as a hobby...but grew. Now is the time to enjoy my life. I have lots of other things to focus on....and the buyer's lack of knowledge and mayana attitude is hindering me. If the new preparer offered me $1000/hr my answer would be "no". The issue is that I build relationships with the clients over 20 years....and I don't want them to be screwed. Ok.....shopping, lunch & gym now. (I lost 17 lbs since the dx...and am buying all new clothes.)
  22. Joan....you missed that he checked the box about not living with hi spouse for more than 6 months, thus giving him dependent care benefits. Yes, we are going on the cruise 2/28....and I will have very limited internet. No, I do not want the business back. Since I posted yesterday, that client said he did want the buyer to amend. Buyer sent 1040-X to me for approval and I listed forms that had to be attached with a cc to client. Client called to thank me and I told client from now on it's between you and him...and that I sent that e-mail so we have it in writing that he was instructed. There were 3 other lack of response incidents. He called me at 8:30 am (I was in the shower) with a "quick question".....which I won't return till later. I know who it's about....an on/off married client who moves around fron state to state and his wife separately moves from state to state...so they will have a complex state issue. On easy years the client does it himself. i checked his CPA credentials.....and last year he e-filed about 180 returns....and a similar number in 2014. I am going to change the auto-response on my e-mail to basically the contact information. Guess what.....it's 9:06 and he just called again. No message this time. Going to the mall, lunch and gym now.
  23. He paid me $XX in Oct. The agreement is that he pays me everything over that amount that he bills by 4/15. Of course, I have no way of really knowing what he bills. I sold him the business literally 5 days after I was diagnosed with breast cancer; as soon as I was diagnosed I decided to retire (been toying with this for years...but cancer was the straw that broke the camels back) and he already paid me more than I expected. I told him that I do many 1040-NRs and that the majority of my clients are non-Americans, so even if it's a 1040....ask about foreign accounts. He said he had experience with non-resident alien returns. He knows less about them that the basic issues he missed this time. I have lots of negative feedback...but most of it is because he takes forever to get back to people. He likes phone calls...not e-mail. My typical client is a 35 year old PhD, MD or IT engineer. They don't know what phones are! The agreement is that I would help him with a smooth transition, which I took to mean.."She had another baby last March. Don't forget to ask her for the info." Definitely "teaching" was not part of the deal. He claims to be a CPA, have an MBA with a concentration in accounting and a Masters in taxation. He also has an office in a very expensive part of town. The good news is that my husband said he could tell I feel better (I do) because I'm talking about something other than breast cancer.
  24. I was asking about the software. I'm pretty much finished with advising for anything other than "special situations". I simply don't understand why these things weren't flagged. He just told me his software cost $7000!
  25. This is another post about the guy who bought my business....software related. At this point, it's obvious that he really has a lot to learn. But, I sold him a business. I didn't hire him. And I'm advising him way more than I anticipated. Anyway....he did a return for a couple with 2 toddlers in TX. Client owed about $4500. Preparer suggested MFS...maybe that would help? (You see where this is going.) With MFS they came out, when combined $550 ahead. (Again, you see where this is going. Sounds unreal to me.) Then client calls me to say...."It was done wrong. He gave me the standard deduction and itemized my wife's return." (We aren't there yet.) I suggest to the preparer to amend and make it joint...because they would be missing the daycare credit. Preparer just wants to amend the guy....and sends me the amended MFS return to review at the client's request. So...on a MFS we have a $1200 daycare credit as well as a rental real estate loss of $10,000! (His AGI was $85,000). Al least it was itemized! Between the standard deduction, the daycare credit and the loss that shouldn't have been allowed....of course they came out ahead on the original MFS returns. So...here's my question. When I used Tax Act I had to "review" and mistakes were caught. I couldn't e-file if I didn't correct the mistake...or check a box saying this was an exception and allowable. But...possible errors were brought to my attention. With ATX or any other software...would these errors be flagged? (For the record...client asked for his money back and is going elsewhere.)
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