mcb39 Posted October 14, 2013 Report Share Posted October 14, 2013 Last client called in his final information over the noon hour. He is coming in to sign and then I am locking the door.........for today. 3 Quote Link to comment Share on other sites More sharing options...
michaelmars Posted October 14, 2013 Report Share Posted October 14, 2013 congrats 1 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted October 14, 2013 Report Share Posted October 14, 2013 My last one picked up yesterday afternoon, efiled today and am waiting on state ack. Relief! Now to catch up on CPE. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted October 14, 2013 Report Share Posted October 14, 2013 10 am tomorrow last pickup. I am taking a week off to clean the yard full of leaves and put away the summer stuff. Quote Link to comment Share on other sites More sharing options...
JJStephens Posted October 15, 2013 Report Share Posted October 15, 2013 I'm down to wrapping up two returns (including my own--deep sigh) and sorting out an e-file reject issue. Just one appt tomorrow. Then I get to begin transitioning all my bookkeeping clients to a new package (good bye and good riddance to Quickbooks). Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted October 15, 2013 Report Share Posted October 15, 2013 I was surprised to read how many of us tax preparers have our own returns on extension? Just curious what the reasons were? I mean we all know our work load during the season. Do you guys close your books after year end and get it ready in January? Quote Link to comment Share on other sites More sharing options...
SaraEA Posted October 15, 2013 Report Share Posted October 15, 2013 We still have a least a dozen to go. Most are done except for that missing form or property tax bill or something even simpler. One guy told me he'd leave his info in the lockbox outside tonight. Several are faxing their info in the AM. The returns won't be hard to complete but there will still be craziness because we have to get them done in time for the clients to get to the post office with their checks (all of them owe). And most we'll have to electronically deliver to the clients and then wait for their faxed 8879s. Today we had a new client we begrudgingly accepted (he was referred by a great long-time client) who cancelled his AM appt and rescheduled for tomorrow! Another walked in with ALL her stuff and acted surprised that tomorrow is the due date and not the end of the month. And then there are those who haven't responded to our many reminders over the past couple of weeks. They will just have to mail in their returns and pay the failure to file, etc. penalties. Don't worry that our gov't will default on its debt Oct 17 unless Congress comes to some agreement. By the time these clients pay what they owe it will be enough to keep the country running for some time. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted October 15, 2013 Report Share Posted October 15, 2013 I was surprised to read how many of us tax preparers have our own returns on extension? Just curious what the reasons were? I mean we all know our work load during the season. Do you guys close your books after year end and get it ready in January? My returns don't go on extension and almost all of it is completed before I get too busy. I operate as a C corp and also have another business that's a sole proprietorship. Both close out at year-end and all recs are done by third week of Jan, payroll returns filed and W-2s issued. The corporate return is usually filed in Feb. The input for the personal return is completed late Feb with the exception of one K-1 that usually arrives in early March. I enter that data, finish the states and send it on its way. Quote Link to comment Share on other sites More sharing options...
JohnH Posted October 15, 2013 Report Share Posted October 15, 2013 I was surprised to read how many of us tax preparers have our own returns on extension? Just curious what the reasons were? I mean we all know our work load during the season. Do you guys close your books after year end and get it ready in January? I've never filed my personal return before October (except for this year when I filed in mid-Sept just prior to leaving the country for a couple of weeks. ) That's non-revenue-producing time, so it gets done after everything else. I do also like to extend the time to keep the window open for paying into my retirement plan. Over the years I've also read anecdotal evidence that filing on extension marginally reduces the probability of an audit. I choose to believe that, although we've hashed it out on this forum and others and it's clear to me that nobody has a clue one way or the other if it's valid or not. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted October 15, 2013 Report Share Posted October 15, 2013 Doing mine right now. Quote Link to comment Share on other sites More sharing options...
JohnH Posted October 15, 2013 Report Share Posted October 15, 2013 OK Jack. You're prohibited from making any political posts until you can verify that your return is done. 1 Quote Link to comment Share on other sites More sharing options...
Mr. Pencil Posted October 15, 2013 Report Share Posted October 15, 2013 Doing mine right now. We knew yours wouldn't be left. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted October 15, 2013 Report Share Posted October 15, 2013 Transmitted. City return deposited in the night drop. Waiting on Acks. 1 Quote Link to comment Share on other sites More sharing options...
michaelmars Posted October 15, 2013 Report Share Posted October 15, 2013 I was surprised to read how many of us tax preparers have our own returns on extension? Just curious what the reasons were? I mean we all know our work load during the season. Do you guys close your books after year end and get it ready in January? anyone who has unpredictable income should go on extension. Let me list a few reasons. You might file in april and have a refund applied and then you lose a few big clients and could really use the money. You file in april and take bonus depr and then find this year much more profitable and want the deductions in 2013. And the biggest reason is you have to fund your Keogh when you file so what if you max out for 2012 in april and then have a real need for the money in 2013? by filing an extension you don't have to fund till you file. My returns is done in January but I hold it till now in case my situation changes. 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted October 15, 2013 Report Share Posted October 15, 2013 I have a half-dozen or so from whom I had heard *nothing* since extensions were filed -- not even email notes from reminders I sent in May. Three of them called yesterday and I told each of them to bring/send papers but that no work would be done until after the 15th. Two of these clients need independent contractor 1099-MISC's sent out... I have two left from whom I need bank info for payments, and signature forms, before filing. Otherwise done. A couple to whom I sent electronic review copies and got signatures and after today will get everything printed and mailed out to them. Our returns are usually the first done every year, as a test for the new software. This year I think they got delayed 'til early April for some late document (notice of a corrected statement to come? -sounds about right; there were lots of those this year, for scads of people). As for me, I am out of my office this afternoon with an accounting client and this evening for a twice-a-year meeting of the pistol league team captains and league officers. So if any of the remaining three call after noontime, they will get my voice mail. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted October 15, 2013 Report Share Posted October 15, 2013 I think it is a good idea to stay away from the office after you have done all you can on 10/15. Just in case that one person actually rings your door bell without an appointment with a bag full of receipts? Quote Link to comment Share on other sites More sharing options...
michaelmars Posted October 15, 2013 Report Share Posted October 15, 2013 I think it is a good idea to stay away from the office after you have done all you can on 10/15. Just in case that one person actually rings your door bell without an appointment with a bag full of receipts? I don't believe in hiding out. I would have no trouble telling a client that shows up unexpectedly, to call me later on in the week to schedule an appointment. But if they convinced me [this would take 2x the normal fee] to do their work today I would add to my engagement letter. "Since your information has been presented so close to the filing deadline, I will use my best professional efforts to prepare your return accurately but You must acknowledge that I will be presenting you this return without it going through my normal review process. You agree to hold me harmless for any errors that would or should have been apparent to me if I had more time to review the final returns. Additional fees will apply if an amended return needs to be prepared." 3 Quote Link to comment Share on other sites More sharing options...
Catherine Posted October 15, 2013 Report Share Posted October 15, 2013 Excellent addendum, Michaelmars! Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted October 15, 2013 Report Share Posted October 15, 2013 Done for the season! Going to bank to cash the check! Now I have to deal with the payroll quarterly's. 10/31 is right around the corner and I have neglected to keep up with my payroll work. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted October 15, 2013 Report Share Posted October 15, 2013 Waiting on one to call to confirm that she did not make a 2012 IRA contribution. Hubby is delivering, obtaining signatures from four local ones so I can e-file. And, I'm working on ours. (Used to start ours first, it got me familiar with the new year in the software, but didn't complete it and often used it to try out things. Then, I'd get busier sooner and not get much done on ours. I think the last few years I've been preparing ours last, after paying customers. Last year, I moved it ahead to get it in on time/keep my license and made those last-minute clients wait. This year it was the last one I started. Want to NOT do that again.) Have one who dropped off yesterday and was told she'll be late. One who brought in two years and was told he'll be late (two states, SE, dozens of PTPs, thousands of investments, FLLP, and a trust that's already late and has to be completed to get his K-1). And a few that haven't dropped off. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 15, 2013 Author Report Share Posted October 15, 2013 All acks are in. All paper returns are mailed. People are still calling with the oddest questions, but the pressure is off. Everyone have a great rest of the year. We all know that it never ends. CE next month, reference books to order as well as making sure supplies are up to par. This is when I will purchase my two cases of paper because it is on sale now. Have plenty of toner, etc. Might even be a good idea to clean the office. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted October 15, 2013 Report Share Posted October 15, 2013 Business clients Wednesday and Thursday. A full day of CE on Friday. Funeral and a flu shot Saturday. Jump out of a perfectly good airplane with my two children Sunday. 2 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted October 15, 2013 Report Share Posted October 15, 2013 I received all the IRS acks. but the state acks are not there yet. Wonder if states are able to get the state return from the IRS center?? Quote Link to comment Share on other sites More sharing options...
jklcpa Posted October 15, 2013 Report Share Posted October 15, 2013 Yes, the states are able to get the returns from IRS. I received state ack yesterday, and waiting on one last ack from DE. It's not uncommon for the DE acks to come back the following day, so I'm not concerned about it. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 15, 2013 Author Report Share Posted October 15, 2013 I have all of my Federal and WI acks as of last night. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.