MsTabbyKats

Yeah, we all work differently. "My people" are used to speed and constant communication by e-mail. This guy doesn't acknowledge receipt! Anyway, I spoke to him and asked him what I should do when I get a complaint. He said "tell them to call me"....so that's what I'll do.

I'm resurrecting this thread only because I need to vent. In the past few days I got 4 complaints about his lack of response. But, this morning was the worst. A long time client, school teacher who itemizes, very nicely just wanted to know the status of her return. She gave him her papers on 2/1....and he hasn't gotten back to her yet. She didn't want to rush him....just wanted to make sure he didn't forget her. Two weeks for a Schedule A .....ridiculous. Lack of response....unacceptable. I'd go elsewhere. Also...I was thinking of taking a cruise on 2/28....but felt a bit guilty (I'd have wifi access) because I would not be available by phone for his questions. Not feeling that way now. Thanks for the vent and I re-read all the posts and you 're all right. BTW- All the e-mails I receive are automatically forwarded to him, so he knows about the complaints.

The guy who bought my business likes phone calls....on his cell phone nonetheless. I had them all trained "E-mail me...e-mail me what you just told me on the phone because if it isn't in writing...it just isn't" I've told him "The clients are young, they are mainly researchers with PhDs or IT engineers. They have accents. They have (often very long) foreign names." But, he likes phone contact because it's immediate....no waiting for an answer Also, with me I would tell them that "I need to speak to you" if I felt a call was necessary. And then I would tell them an exact window of when to call. One client insisted on calling me on my cell phone (had the number from a long time ago). After telling for them years...."e-mail, e-mail, e-mail....or call on landline if absolutely necessary".... I chose to ignore an "urgent cell phone call" (needed copies of returns for child support court the next day)....and they never called on the cell phone again!

Thanks for the well wishes. He doesn't have to be me, but he has to be someone the clients like and trust. No, this isn't my problem and if he is going to alienate the clients it's his loss.

Just a bit frustrated here: In Oct I reported in that I had breast cancer (all is going well on that front) and sold my business. I was 100% honest with the buyer (he was more anxious to buy than me to sell), showed him the list, the fees...and that the vast majority of my clients were foreign and there would be "foreign issues". Well, he has no knowledge of foreign issues. I have to explain everything. Yesterday, it was a W-7. Plus, unlike me, he does not get back to people within seconds (my clients were really spoiled). I shouldn't care, because I got paid...but I get complaints...and I feel bad. And with that....wishing you all a happy and profitable tax season!

Every year, for the past 5 or so years....I kept saying "This is the end. I've had enough" for various reasons (TRX catastrophe, IRS getting tough about foreign accts, tax preparer requirements etc)...but I hung in there. I dropped PITAs each year, to lighten the load. Again...this past Oct I "wasn't sure" because of ACA and tax preparer requirements......... I had a "suspicious" mammogram....and decided IF there was a malignancy I'd "retire" (I can handle cancer stress; I can handle tax stress; but knew I couldn't handle clients with problems when I have medical issues). I had a very quick sale...for which I am very happy. My operation was a success; my therapy is going well; my prognosis is excellent....so I can call myself a retired breast cancer survivor at this time...who has "retired rich" and wants to "die poor".

This mom and dad have plenty of money. Mom was just curious because a mutual friend has a 98 year old mother and was denied Medicaid because they transferred assets when that mom was 94. For the record, I agree with people trying to get the govt to support their elderly parents. I have explained to the mutual friend that it's her mother's money....NOT her money....but she doesn't want to hear this. The people I was asking about really just do things to make life easy....as far as transfers and access. They'd rather keep things "as is". Son is the opposite of greedy. Thanks for the opinions.....

This isn't an IRA....just regular accounts and the son is the primary....paying all the tax. They'll probably just leave it "as is"....but she was wondering about transferring it to him...just in case down the road she needs round the clock medical assistance and if this would be considered her money and his money....as opposed to just his. (A mutual friend is now paying her mother's nursing home bill because they transferred money less than 5 years ago.)

I know a couple with a 30 year old son. Since birth the mother has been putting money into various mutual funds for him. First it was custodial accounts and after he turned 18 she changed it to joint account...with him being the primary, all at Fidelity. The value is about $150K. She wants to switch it into his individual account now. This shouldn't be an issue, should it?

Thanks for the well wishes...... I've been getting very frustrated the past few years....with being "the tax police" for eitc....."obamacare".....no phone service at IRS.....and the list goes on. I had been trying to phase out......and as soon as I heard the C word....I cancelled anything I ordered for the upcoming season and wrote an "away message" on my e-mail with a couple of referrals. The man who bought the business is absolutely perfect for my clientele. And for those who can't/won't/don't e-mail....he has an office in the most convenient and central location here. Finding him, and a quick sale was truly a sign from the cosmos........... (It took DH 6 years to sell his business...at a price much lower than he wanted.)

The results of my annual mammogram were not good....I have a small malignant mass. It's very small, not an aggressive form of cancer, and after a lumpectomy and radiation treatment I should be "back to normal". However, as soon as I heard "cancer" I decided that I had enough with my business. I found an established CPA looking to expand on Craigslist last Thursday. We spent a few minutes on the phone; he came here on Sunday....and in 1 hour and 40 minutes...we shook hands. I'm happy with the price; he's happy with the client list (he already got a new client who was referred to me).

I think I am having a "senior moment"....or just never did this before. Client is hiring a nanny. If I do a Schedule H....he ends up paying 100% of the social security/medicare. If he withholds from her...he needs to do a 941 and a W-2, correct? He can issue a 1099-Misc...and then she will be responsible for everything (he can re-reimburse her if that's the agreement). Am I wrong....missing something....forgetting something?

It depends on the results he's getting. I'd rather pay 2% for "great results within the market" than 1% for average results.

http://www.accountingtoday.com/news/tax-practice/tax-court-rules-support-payments-werent-taxable-alimony-75531-1.html?utm_medium=email&ET=webcpa:e4985069:2503367a:&utm_source=newsletter&utm_campaign=tax practice-aug 20 2015&st=email

I do a lot of Airbnbs and always use E. One client received a notice from the IRS about "C" income. I had him send in a copy of the E...and so, far no problems or follow-up from the IRS. Of course....my clients don't rent out houses...more like couches.

If the mom is so rich....and dad isn't....she may also want to make sure he has money to spend for the kids when they visit him. Mom is happy. Dad is happy. Case closed.

I'm probably not clear. Client is not hiding income. She just found out about a bank account that generates $50/income year....and the statements were going to an estranged relative's home. So far I never had a client receive a letter from the IRS saying they failed to report such a small amount. I know that I've seen somewhere....that the IRS allows some small amount to be "omitted". I can't find anything in writing...but I know I saw this (years ago).

I know there is a certain per centage or amount of income that doesn't get one "in trouble if not reported". (I don't think I dreamed this.) I'm taking specifically about interest income. If someone has an AGI of about $150K.....what would this amount be? Would $50 interest/$13 tax be too insignificant to worry about?

In reality...if the IRS were to question it....Airbnb has records of how many days the room was rented. I report it...and deduct it on the Schedule E.

It was my understanding that penalties & interest had to be paid before they would look at a request for abatement....and then if it was approved, taxpayer would get a refund. But....I haven't done one in a long time....things may have changed.

Thanks..... The FICA taxes are being reimbursed directly from the employer....but they keep insisting the employer told them to amend the return now, i told him if he wants to waste his money and my time...I'll gladly do it. But first I want to speak to the employer....just in case he will re-issue a W-2 C showing "wages".

Spouse had to repay about $11,000 to employer for 2014 in 2015. Corrected W-2 only shows changes for FICA taxes. (There was no overpayment of fica on original return). So....I don't do anything now. Then for 2015 I use the repayment as a Schedule A deduction (which really isn't fair)....unless the repayment is reflected on her 2015 W-2. I'm just thinking out loud....and looking for confirmation (that I don't change the income....since it isn't reflected on the W-2C). Thank you..........

From Experience: Personal....had to consult a specialist in this specific field; then we decided how to proceed Professional....client went to somebody else (a tax lawyer) who handled his foreign inheritance & tax return for 2012; it seems lawyer screwed up and client had to pay a major penalty (now an ex-client, so no follow-up); moral of the story....it's not a learning experience for a "general lawyer" or even a tax attorney unless he's experienced with this My advice.....don't get involved. I can give you a referral for the lawyer I used if you want.

Well, taxpayer may only want to pay his share, but what he wants and what he's supposed to do aren't the same thing. You could try MFS...which will be rejected since the IRS is already on it. I'd tell TP he needs to see a tax attorney....who may have a solution. (It also depends on the dollar amount of the tax vs the cost of the attorney.)

Probably spam....but if you're looking for new clients, you can never tell. I'd give them a call.