Lion EA

I think you can get a form from the IRS that the person did not file a tax return. Just something in the back of my memory. But, what would that really prove? You'll have to ask the school what they will accept.

I know the IRS considers all income as income, even illegal income. But, I hope they don't consider illegal income as earned income for EIC purposes. The law is not logical, though, it's just the law. If I kept a client that earned money at illegal activities, I'd have to research that. Luckily, not my client base -- as far as I know.

Income from an illegal activity is still taxable income.

I have my 1040 at $100 with CT at $80 and around $100 for "foreign" states including NY and prices for every form and schedule. Trying real hard to keep everyone at a total of $500 or more, but have lots and lots of long-time clients that are a whole lot less than that. Kids at half price or maybe $100 or whatever sounds reasonable to keep the kid here and not doing it him/herself. However, I have kids that have more states and more schedules than their parents: live in CT but college and work in VA or where ever and summer job in NYC and SE in CT and investments including a couple of K-1s from grandparents and worked for a couple weeks in NC while at the second home during the holidays and.... I don't care if the parents say the kid has just a W-2 or two; I really have to see it before I can quote. The real downside to pricing them too low is that they expect that after graduation and earning $90,000 on Wall Street (of course, they expect Daddy to pay for it still, too.)

So, it was the podiatrist for me. He had two stories. Last year, someone filed with his SSN. Did the whole routine and e-filed this year with his PIN and all was well. Secondly, daughter began work for a consultancy that sent her all over the country, so dad sent her and all her W-2s to his CPA. CPA called all upset that the NY W-2 had her full income on the NY line. I chimed in that NY requires that. He said that that's what his daughter and CPA learned from calling NY. And, he was pretty impressed that I knew that. Go EAs! But, it's really because I have a lot of commuters and get a lot of my education from the NY/CT-ATP.

CT added EIC only a few years ago and has been sending letters to huge numbers of people requesting more information before they will release refunds. Just a couple of NJ returns and not in EIC range, so am not familiar with what NJ's doing this year.

I don't offer a New Client Discount. However, I do find I under-quote to a prospective client more often than I want (working on that) so for that situation, I show the full price and use New Client Discount to bring them down to my quote. Or Referred by a Good Client or Extension Discount or whatever fits. I do offer Loyal Client Discounts to continuing clients to keep their fees from jumping too much at a time. I also offer Referral Discounts after their referral becomes a client and pays. And, Family Discounts to the dependents or even extended family if the situation warrants. Or, Extension Discount if a client extends for my benefit. In other words, I'm more likely to discount for a continuing client and more likely to charge full price to new clients. My invoices start out with the forms filed, might add time-consuming line items such as Bookkeeping, Research, Revisions, Consultation, whatever fits, and then might include a discount if that feels too high. An example might be a really well-organized Schedule C with categories totaled for me vs. the shopping bag that probably gets an added line for Bookkeeping. I have a couple of clients that after I pointed out their Bookkeeping fees got better organized and lowered their prices.

Aren't short term rentals Schedule C? Less than seven days, or something like that? If she rents a room a day at a time, isn't she running a Schedule C business?

Put together your plan as if you're consulting for one of us. Probably $10/return increase, new clients at the full prices you're aiming for, freebies asked to pay $10 each toward (pick one) license fee or pay-per-return or e-file fee or overhead or..., always show full prices on your invoices with their true discount shown, charge for initial meeting/consult/questions for potential clients with fee applied toward their tax prep fee if they become customers, etc. If you end up with software where you buy the modules separately, you may need to drop your entities. Or, your only competition for entities, including 990s, is really CPAs, so you should increase their returns $25 or something more than $10.

Don't be a stranger!

At least I don't have guns. But, I wouldn't waste ammo on anyone that bugs me!

I use Michael's method. Don't risk being short on the extension, which is 2014 with all that interest accruing on any shortfall. But, I had every single client call me this year -- after explaining it in great detail in writing in an email -- asking for their ES vouchers or saying they misplaced them or even both husband and wife emailing me for 1Q amounts. I resent the email to every one of them!

Got our own extensions in for IRS, CT, and IL. Did the clients that needed calculations to mail in payments a few days ago. A few finally got me signatures today to e-file their returns. Now trying to pick up speed on extensions for those that always get refunds, their w/h is greater than their tax liability. And, some that tell me that but it doesn't always work out that way when they get me all their docs! Discovering new states as I dig into the folders or make calls. Long day. I'm so tired. Promised a biz client that I'd be at her office Thursday.

Yeah, and Catherine has guns!

That's too bad, Rita. I was going to hire you to come put a few of my clients in their places, or your boot in their places.

The form will come out for 2015, BUT if it has a code P then it gets added to 2014 income. It's the 15th. I'd worry about it next year and charge for an amendment if necessary.

Tell it the year the Roth was opened.

Church music director hubby belongs to a board called something like I Hate Bad Church Music.

Make sure you download her free Excel-based attachment for providing detail on each asset. Using the same format over and over does increase speed. Yep, I too have some on extension. Not big enough for cost segs. Rentals, where the adjustment is probably in the clients' favor and where the safe-harbor-type of audit protection is worth scrubbing their depreciation schedules, because these are DIY bookkeepers.

I've also seen X in a column under a heading like "Covered," So, in that case, X is not the code but just the check mark that the stock is Covered or whatever is in the heading.

Sounds like a country western song.

No! You can NOT have your returns by 4 p.m. No! You can NOT run up here right now to sign your returns. No!

Oh, bummer, forgot what was way up on OP. 2011. Well, do your best. Your software can compute what depreciation should be. I do follow Lisa's booklet re filling out the form. I know that the IRS does not have time to read all the 3115s they're getting this year, so don't stress over the form. Just get it in the mail and in the return and put the 481(a) adjustment on the E under other expenses. You're just trying to get that adjustment in the amendment to improve your client's tax situation.

I'm getting complaints and telephone calls and demands of callbacks demanding explanations from me from the clients I completed over the weekend. They're not going on extension. If they're uncomfortable filing so late, how do they think I feel with tax laws changing retroactively through 20 February and corrected brokerage statements arriving every day?! Why am I spending my Monday explaining that yes your refund is smaller because you earned $9,000 more, instead of working on the stack I still hope to finish today?! It's 2:30 p.m., and I haven't had a block of time to complete a single return today. Three more emails just popped up, but one of them is an alert that I have signed paperwork on FileShare. So, at least, I'll e-file some of these hanging. But, I have untouched returns to prepare!!! OK, I think I feel better now. Hubby just came home from the store with more Easter candy on sale; going to see if he found dark chocolate.

I think, but don't trust that today, that you use 8878 when the client is authorizing a direct debit with their e-filed extension.