Lion EA

I may raise my fees again. Although in CT, nearer NY than the rest of New England with lots of NY returns. I don't compete with HRB. I work with small businesses and investors with fat returns. I don't even try to compete on price. I lose a client every once in a while to a cheaper preparer, but I gain even more new clients from referrals from current clients.

But, if you use QB for bookkeeping, call your rep to see if there's a cheaper version of payroll that does what you need it to do and feeds directly into and from QB. As pricey as it is, I'm still with QB, at least for another year.

Well, I can efile now too, but my software will not transmit to IRS until 30 January. You can certainly prepare returns and maybe efile, too. But, your returns and HRB's and a paper return mailed in by a taxpayer today will not be processed by the IRS before 31 January. Add up to 21 days for their refund, and February is almost over!

No. Definitely male!

Wouldn't a grantor trust be revocable? I agree that if an irrevocable trust owns a house, then the trust does not have a principle residence to exclude, has investment or rental property or.... I don't do many trusts and haven't had a house in one yet.

I probably would round it up to $500, using a set-up fee as the plug. (I'm in Fairfield County, CT, and don't do anything for less than $500.) And, I'd include an advance for January or even 1Q13 in my bill.

Remember years ago at Block they told us to amend...

+ cost of forms and postage and e-file fees and aspirin...

If you have the type of practice that will be delayed to late February or mid-March and expect a lot of extensions, you could get the free 2012 software from Drake or anyone to use for extensions to try it out, practice, convert, search for items that don't convert well (depreciation is often an issue) without the time pressure of 15 April and without paying for two softwares Then, hit 2013 season running. (I'm a ProSystem fx user and haven't even installed it yet. Will with a new version on disk that they shipped this week to avoid the multiple updates and a patch necessary to work with the original disk. I still have 2011 returns that people brought late, amendments for misplaced 1099-INTs, etc. to work on. My clients come in in March after getting corrected 1099-Bs and K-1s, so I'm not rushing when Congress didn't rush!)

I really miss the e-file stickers as I too put them on returns. I called the IRS last year and was told they no longer printed those. (Don't have to provide us any incentives to e-file now that it's manditory!)

I have had spotty luck with ordering the calendar not too soon and not too late. This year I ordered online and actually received five. In the years that I was too late, I contacted our friendly, local IRS liaison in CT to see if they had some stockpiled. He knew who did and had me mailed a few! And some years I saw an IRS booth at one of the trade shows I attend, and they had them as handouts!

Click here for Web version of this message. Please use the Web version if you have any difficulty accessing a hyperlink. A decision was announced this afternoon regarding the 2012 court case Loving v. IRS, which challenged IRS’ authority to regulate commercial preparers. United States District Court for the District of Columbia Judge James E. Boasberg granted Loving’s motion for summary judgment. The Court is granting a permanent injunction against IRS for what the opinion calls “an invalid regulatory regime.” As with any legal matter, it is best not to jump to conclusions, particularly in the moments following major decisions. As we sit here on Friday evening, the obvious question is how IRS will respond. In any event, this situation will develop over the next week and upcoming months. NAEA will continue to interpret possible ramifications for enrolled agents and the overall tax community and will share our perspective during the back and forth volleying that promises to ensue. To read the original complaint, click here. To read today’s decision, click here. National Association of Enrolled Agents 1120 Connecticut Ave NW Ste 460 Washington, DC 20036-3953 202-822-6232; 202-822-6270 fax [email protected]; www.naea.org

Yes, before our clients try to suck us into their claims!

Then my kids would have to come visit me to use their frig! I like that idea.

I just paid $150 to buy my "kids" a refrigerator as a Christmas present to keep their home-made cat food. They own a bakery/coffee shop/restaurant and need to keep rodents out of their flour bin. I prepare their partnership tax return. May I deduct $150 as a business expense on my Schedule C?!

If he provides services, runs the equipment or whatever, then Box 7 for the percentage. If not, then maybe it's all rent. What industry is he in? Maybe someone is familiar with the usual procedure for that industry....

Yes, PayPal is one of those that issues Forms 1099-K if you have enough transactions. Is is something like 200 transactions &/or $20,000?

I looked into the banks that do. But, my friendly, local People's United Bank has NO service charges for small business accounts. So, I continue to send deposits with my retired hubby when he runs errands!

I have my prices such that I can handle fees (most still pay via check) and a few phone calls. If a client's fees don't keep up with reality, I adjust next tax season. I've not offered a cash discount. I live out in the boonies, so getting checks to the bank takes time and gas; the small fees to accept credit cards are really worth it for MY convenience.

I don't understand the volume issue either! With mine, the signature is not a requirement for the transaction, just a gesture to make the client feel more in control. Keep us posted.

Oh, and I remembered one more thing. With mine, I have to turn the volume up all the way. I often have it down or mute or just on vibrate, so have to remember to turn the volume up all the way to use the attachment.

My "kids" who opened a bakery are using PayAnywhere on their iPad. I got the Intuit version of the thingy that attaches to my iPhone (or iPad or any "smart" thing) for free. The jack that fits into the microphone hole fits only if my phone is not in its case (Margaret: might be your issue). No monthly fee as a ProAdvisor. I have a PayPal link on the home page of my web site. But, the method I use most often is to just type the info into QB. It's a bit more expensive not to swipe the card, but it happens when a client gives me their info over the telephone so I can mail their folder or someone else can pick up for them. Again, no monthly fee as a ProAdvisor. Even if a client is sitting here with their card in hand, it's faster to enter it in QB than to retrieve my iPhone from my purse in my bedroom and take off the case so I can swipe. Most clients still write me checks, but I want to make it as easy as possible for clients to pay me by whatever method they prefer.

There are firms that specialize in 105 plans. AgriBiz or something like that is a name I've read (mom & pop farms probably started the trend).

Used to be a place on their site for your account; install codes were listed there.

Very helpful. Thank you. This facility has been around for a lot of years, so hopefully it can spit out a statement pretty quickly Monday. It wasn't part of a larger chain, but has another name appended to its name now so may be part of a chain now. I need to learn this jargon, learn what to ask for and how to ask for it. So, appreciate the help from those of you who have been there.