BTS

Some may remember back in the 70's when bar codes first came out that many thought it was "The Devils Work". The precursor to the mark of the beast. Some thought it was the mark. Crazy times back then, but we all know that many times this shit comes true.

Remember when your IRS tax book would come in the mail. And it had your Social Security numbers on the "Return Sticker" Oh how times have changed.

There should be no tax on Soc. Sec. at all. Hopefully they will amend it in the senate. But I doubt it.

Am I missing the "No tax on Soc Sec" ? I see it no where in the bill.

Had a farmer go through this two years ago and its still not finalized. Hence my post above about 2 years later. They asked for "Income Verification" only in first letter related to Schedule F. Client sent that in. Then 6 months later they wanted Schedule F "Expense Verification". Sent that in. 6 months later, they wanted copies of their Schedule C and Income/expense report related to that. Wife had small schedule C with around $1200 in income and no deductions other than some material. Well, we sent that in along with copies of all 1099's, W2's, 1098's, etc.. We mailed in everything, including hard copies of the tax return. That way they couldn't ask for anything more !!! 6 months later... they get a letter stating all is in order and a refund will be issued. 6 months later, still no refund. And it isn't much of a refund !! A few hundred !! Moral of the story.... Send them everything, including the kitchen sink !! If you give them only what they ask for, it will drag out.

After income verification, they will want expense verification. Better have your client get everything ready. 4 or 5 letters and two years later it will be resolved.

Well in our area all farmers drive big fancy trucks and run them into the ground hauling animals, feed, etc.. And they have to drive on the interstate to get places. Not uncommon to spend over 1/2 million on a combine that comes stock with gps farming systems, ac and a descent sound systems. Is that extravagant and doesn't meet deductible standards ? Hell we have farmers with multiple thousands of acres. Sell millions in crops and animals each year. If I said you can not depreciate your 1/2 million combine with a stereo system or your Ford F450 extended cab with leather seats because they are too extravagant, I would get prodded with a pig sticker !!!! If its not 100% farm use, give them a percentage.

Today may be worse !!!! But hey.... its the last day !! You can take a few weeks off then hit the extensions !!!! Get the booze ready for the after season party !!!!

I find the more people make the more they spend. But we do have a few that are very frugal with their money.

Being in Ohio also, another issue we constantly have is clients living in a RITA municipal. They never seem to know if they paid estimated to them or not. If they did they never keep receipts. So we always have to call RITA and see if they did. I hate RITA !!! And the sad thing is, more towns are going to them. Would also love to have just 50 well paying clients. But unfortunately thats what we do in a few days.

Oh we have a few of them !!!

We would be $165 and that includes city tax. We have a few elderly clients we pick up and deliver. Been with us forever. 90% of our clients have been with us for over 25 to 30 years. Of course a handful pass and we pick up a handful every year. We do have some that leave one year to try someone else, but they get sticker shock and come back. I can agree to an extent. My father started our business back in the late 60's. Small town and everyone knows each other. Always there for clients and never charged for phone calls or when people dropped in with questions. Fast forward He dies at age 86 and did taxes till he was 84. Over 60 years in our small town. At his funeral there were clients who came, but not many. But we have an extended family so there was a ton there. My point is, your clients, no matter how good you are to them do not care about you in the long run. Your just the tax guy Our easy partnerships start at $385 (two partners with two rentals). We need to raise our rates !!! But like I mentioned in the original post, we are doing away with 1065's and 1041's. Let them get sticker shock elsewhere

Well, we quit taking checks after covid. Had a crap load of bounced checks during covid. And tracking people down was a nightmare. Best decision we made.

We have rental worksheets clients fill out for us, so we do not have to wade through receipts and documents. Same with business and farms. But based on the replies, we are currently about $265 for my scenario client. If they filed separate it would jump up to around $340. Hence my original post we could realistically raise our fees 30% and still be below the average. We have client files from 20 years ago and its crazy how a client we charge $165 for now was only $35 to $40 !!

For survey reasons, what would you charge for this ? Married couple with a 1040, one schedule e residential rental property, a schedule d with 10 stock sales with no basis reported to irs (each stock sales listed individually), a 1099sa and 8889 of course, 2 w2's (one for each spouse) and 2 children (no eic). And do you charge one fee no matter if the file mfj or mfs ? Or one fee for MFJ and one for MFS ?