Lion EA

I think you can use MEF to file three years of individual returns as well as entities. However, the return can't contain forms/shedules that don't qualify for MEF. This year it's most forms that qualify; for prior years it was very few forms. Check with your e-File provider.

Love those free e-file stickers. And use year stickers from M&C, alternating silver and gold. I change folder colors every year. I've had occasion on the telephone to tell someone to look for the green folder or blue or.... Also have free stickers from AmEx that have the logos for AmEx, VISA, MC, and Discover, that I stick on my invoices. I use better paper for client returns. But, other than the upgraded paper, it's great how using free and inexpensive products can create a professional package. I've had compliments on my packaging. I use Tyvek envelopes when mailing. Might try the USPS if-it-fits-it-ships mailers. Used to be everyone picked up, but clients are moving out of state so more mailing. I use the free packets of yellow post-its from the IRS that say thank you and call us if you hear from the government.

Congratulations! Your tax season is off to a great start.

I include a summary and a comparison to last year, depreciation schedules, their original documents, returns, anything that I'm printing to my hard drive for me, I print and include in client folder. I also use two-pocket folders with their papers on the left and returns on the right, business cards (one in the slots and two in the folder). Anything for last year is in the folder. Anything they need now or for next year's taxes, MY INVOICE, a suggested W-4, 2012 papers they gave me in error such as their January 2012 property tax payment, I keep outside the folder and hand them separately with instructions. Then, they stuff everything in their folder to carry out to their car! I hand them a filing instruction sheet and highlight the amounts that will be direct deposited, payment vouchers with envelopes if balances due, ES vouchers and envelopes, and make a big fuss over anything that must be mailed by them. If I know they're refinancing, applying to colleges, whatever, I include an extra copy of their federal return without the worksheets so they don't have to tear apart their copy to give one to their bank, for instance.

It looks pretty, but this morning I have to drive down my hill in it. And, hope our church parking lot is plowed. Had some Saturday errands, but we planned ahead and did them all Friday night. I grew up near Chicago, so am no stranger to snow. But, snow on CT's narrow, windy, hilly roads with no shoulders is scarier!

Make it awesome!

You sent it out to us in CT. :mellow:

I'm trying to finish up at this cient's this afternoon and tomorrow. The employee in question is off as her stepson died in a car accident yesterday morning out of state! She would be my contact, so not reading the riot act this week! The amounts in this company are huge, as they are promoting their documentary worldwide, so the bonus is small compared to 2011 expenses. Don't know if I'll 1099 the bonus. She did consult before being hired in February, so it's one way to go. Or, have Paychex re-run December and year-end. I need to talk to her, but she needs time with her husband to deal with this tragedy before returning to work. I'll wait on 1099s until next week and see if she returns.

Yep, that's what I would do also! (Had a new client who uses Paychex write a separate $3,000 bonus check to an employee, not through Paychex. Don't know what I'll do, but it will include the riot act.)

If the Thank Yous were due to a business relationship, then those amounts get included with their total W-2 or 1099 income. (If your client gave $25 to every business on his block as a holiday greeting, then maybe not, at least not for those with which he has no business relationship. Did he label those payments Advertising or Contract Labor?)

Set it to run at 3 a.m.

As a QB ProAdvisor, I pay no monthly fees. I don't rent or purchase a swiper (I too have one for my iPhone if I'm at a client's site) so pay a bit more to type in client info on my computer or anywhere I have internet service. But, it's still a good value to get paid now rather than later, to have the funds deposited into my account instead of driving to the bank, etc. I've heard that CoCard is good and inexpensive and recommended by NATP. Costco has merchant services. I have colleagues that use Merchants Choice, RelianceMerchantServices.com, and World Pay. PayPal takes credit cards (and checks from those clients with PayPal accounts). Search online and compare prices.

Hey, Joan, if you're not seeing enough bookkeeping, tax planning, whatever to take you through the year but are getting lots of calls for tax preparation, then put people on extension to take as many tax clients as possible. You can prepare a lot more returns in 12 months than you can in three. New clients where you need to review past issues, complex clients needing research, clients who come in after 15 March, any criteria you choose. Offer them a discount if they'll go on extension if you have to. Most effective if they don't owe and aren't in a hurry for what looks like a small refund or seem disorganized, would take up a lot of your time, need hand-holding, are already bringing in info in drips and drabs, etc. Save your most time-consuming returns for later so you can prepare as many as possible now. My first year, learning new software, I offered discounts to some of my nicer clients who followed me if they'd go on extension. Only one preferred their return by 15 April.

The government has very specific specs for W-2s and information forms, but the very worst form is the 1099-SSA from the government !!

Congratulations, Bob!

I think I pay about $69/year. I had an 800 number, but most of my cients have nationwide telephone &/or cell bundles so I chose a new number a few years back that had a similar symmetry to my office telephone number so they'd both have the same area code. efAX has been offering more services, but I've been saving those emails to read sometime later! Faxes land in my email, well an email with a link to the fax does, so I'm alerted when they arrive. Or, I can go to my fax message center at any time from anyplace with internet service. I can send with one click or from my fax message center from anyplace. I think my storage is for a year or unlimited, but most client-related faxes I copy into the client folder on my hard drive anyway. eFax offers some other services, such as a virtual receptionist to answer your telephone, but I haven't paid much attention to those,

NY requires registration under most conditions, but not for EAs, CPAs, and attorneys (I think). They amended the law after the first year of registration at the legal battle waged by the NYSEA.

I work from home out in the boonies. I too make use of three-way calling instead of trying to get the client back in my office. It's a huge time-saver. When I need a transcript or something I can obtain on e-Services, I get a 2848 signed via email or fax and enter it into e-services and obtain what I need immediately. For an audit or even a mail examination that will go on for awhile, I definitely get the 2848 covering multiple years. So, for those clients, I can call as well. For that one-time issue where it'll be faster to speak to a real person than compose a letter and wait, the conference call works better unless your client can be in your office conveniently for both you and him. As has been said, you can get a lot of work done while on hold with the IRS if you don't have to babysit your client.

I like eFax. You can get a free or cheap account, or you can pay a bit and choose your own number. They've been helpful on the telephone the couple of times I had questions.

Maybe your professional organization? Or, your software company would know the requirements to e-file each state's returns.

If it comes back from PO, at least you have proof you tried.

If you have the address to mail the 1099, mail it to him soon with a W-9 and a cover telling him what his IRS penalty could be, maybe return receipt requested. Then, you have until 29 February (or 31 March if e-filing) to hear back from him with his SSN to complete the government copy completely before filing.

You organize as an LLC with the secretary of state and then file Form 2553 with the IRS to be taxed as an S-corporation. I do NOT register a business entity. The lawyers in CT have a good lobby and frown upon what they consider practicing law without a license. I might recommend a lawyer to draw up an operating agreement or I might tell someone how to access the forms online. I definitely discuss the tax implications of the various available business entities. I suggest good liability insurance and that they talk with their insurance agent for recommendations based on their business. I tell them to keep me in the loop and that I would be glad to speak with their lawyer, agent, banker, etc. I tell them facts and responsibilities, I relate anecdotes, etc. I talk about taxes and insurance and accountable expense plans and reporting requirements. If more than one owner, I strongly suggest a formal operating agreement via a lawyer, primarily to cover what happens when something goes wrong, someone wants out, someone passes away, disagreements, etc. But, I do NOT tell them the best entity for them nor do the actual registration for their company.

You can also organize as an LLC and make the S-election.

If you can't beat 'em, join 'em!