taxguy057

Here's one that chaps my hide... new client comes in, you prepare their taxes and they come up with a "balance due." OMG! here we go..... I do all this explaining about why they owe base off the numbers blah,blah,blah...(of course we find out they have like "8" on their w4 exemption) Then theres still this dead silence in the air and a look on their face like "WTF do you mean I owe?" Then they want all their paperwork back to get a second opinion... I HATE THAT!! Like someelse has a different irs code they're going by to get you a refund. Maybe CCH forgot to mail me that version of the "code!" Thx for listening!!! Shot of tequila anyone! lol!

@virtual LOL!!! thats a good one! I needed that laugh! :spaz:

To futher continue this situation I have, the disabled mother who has the other interest in the home that we were seeking the credit for has come to my office to file her return to receive the 1st home buyers credit, but her only income is SSI which she doesnt receieve a 1099SA for, but has brought me a letter from SS Admin office stating the amount she receieves monthly but how do I show on form 1040? I overrode it in line 20a which calculated the credit on form 5405. Would this be the way to go forward with filing the return? Please advise.....

@jack Yeah i knw..explained to them,but they willing to still take it. Guess when they seen how much it jumped their refund up they will worry about paying back later. :dunno:

Got a client who bought a home in aug '08 so they qualify for the home credit, but had to put mother on loan who is disabled and client claims her as dependent. Client makes the full mortgage pmt so can she take the full 7500 credit. I know instructions state that you only take half is someone else has interest in the home, but mother doesnt file since totally disabled. Need some feedback on how to file the credit.... Thx!

@lion Ok i will....thx!

@Cat Oh ur ooo so right! Not ready to jump off that cliff yet! I have done sch C returns so not truly green to the biz side of the tax world. When i see the books this weekend, I'll have an idea of how bad it will be...like i said before i may be making more of it than it is. If i get the right forms with the correct info from client, i should be able to get it....of course the right guidance from the great ones on this board will play a big factor too!! :blush:

@kc Im in NC. The business is a mobile locksmith. He has only had part time jobs here and there over the past year. Incorporated last Jan so first time filing for it. He's suppose to bring me the books this weekend to show me what he's got going on. Guess I'll know then if worth taking on. Hell i wouldnt even know what to charge for such a return....

@oldjack Come on...that would be o too easy!!! LOL!

@everyone Thx for the vote on confidence. I'll give client call tomorrow to get specifics on what exactly it is he got going on. so most important question to know is type of incorp established and get consent to disclose? We'll start with that and see what kind of monster you guys feeding me too! You all have truly been great help!

Got a question and all help from all the pro out there will be greatly appreciated.... I have a client who I've been doing their individual return for sometime now. The husband started a biz last year and has incorporated it. How hard will it be for me to do his return this year? I know its separate from their individual tax return, but don't want to lose them as a client all together if its too much for this other part. Its nothing major like Exxon Mobile, but just a small home biz that they have incorp to keep personal assets separate. I know there are different forms like 1120s and so forth (I think???) Please any help or input will really keep me a lot. Hope I'm not making more out of this than it is...when you say corporate tax it gives me the willies....... :(

Gret idea, but got to get this darn EA first.... Thx tho! :rolleyes:

I got 5 "transmitted to agency" since Sunday! They post an alert on my atx site stating they have prob with receiving acks and will be fixed shorty...ahh two days after the fact! I hate to see what "longly" (if thats a word?) is....... :scratch_head:

Is anyone out there part of the batch of republic bank acks that have not come through yet? I've been waiting on them since Sunday.The weird thing is tht i've sent in rals since then and they come back approved in less than 24hrs while the ones sent Sunday still lost in cyberspace....How crazy is that???? :wacko:

Very Good Dav! ur my inspiration now!!! :lol:

@lion I like the website! Very clean in professional.....and wow! you do all the hard stuff too! U DA Man!!!

Got it!!! They fixed it...Thx!

@lion whats ur website address? Like to do a cyber-drive by! lol @virtual I will look into website for next season...you need to be up and running so you can give me a quote! lol!

@virtual So i have thought about the website deal, but do you think that works with tax prep since so many people see HR, JH & Liberty on every street corner. dont see where it will help a small no name like me. maybe i underestimate the power of the net.... :unsure:

@lion Do i have to be an employee of HR to take the EA course? that would be conflict of interest b/c i will be taken all the clients i do for them with me!! lol!

Apparently i was sleep in mgkt class! lol! I have done flyers around town so we'll see what comes of it. I do offer mobile service where i'll go to client or meet at a starbucks or panera's so maybe that will be a niche i'll fill. most new clients come from referals, but just wanted to know if anyone had something they do different to approach the general public more...

My sentiments exactly.....just need someone to give me that vote of confidence....or push me over the cliff!!! LOL! Off to try now thx!! :rolleyes:

for some reason when i updated my enrollment status to "yes" on friday beforew sending out returns per what system requested. it had an amt in there differnent from whats on file with bank im using this year. I knw i cant change the amt with bank and thats fine but can i override the amt to make match in the software program because all my rals are rejecting because fees dont match what bank has. been on hold with atx for over 30 mins trying to get to tech support to ask this same question..... HELP!!!!!!!!

for some reason when i updated my enrollment status to "yes" on friday beforew sending out returns per what system requested. it had an amt in there differnent from whats on file with bank im using this year. I knw i cant change the amt with bank and thats fine but can i override the amt to make match in the software program because all my rals are rejecting because fees dont match what bank has. been on hold with atx for over 30 mins trying to get to tech support to ask this same question..... HELP!!!!!!!! :dunno:

Well Kyle, I have my BS in Bus Mgt w/minor in Accounting. I was shooting for double major, but got burned out so settled for the minor. Always like taxes (dont ask me why??), but went and worked at H&R Block for two tax seasons then became a ERO in 2004 and started my own biz on the side of my reg job. I have managed to build a client base of about 100 clients which is good for me since have a fulltime mgt job. One day i would hope to have enough clients to quit work and just do taxes/acctg work, but really dont now how to get more clients in so thought about becoming a EA and or CPA so i can offer year round work. (If anyone else out there has any suggestions on how i can grow my biz pls feel free to share thoughts!! LOL!) Anyway thats my so-so story. Hope it helps you decide to come walk on the wild side!!!