MsTabbyKats Posted March 16, 2014 Report Share Posted March 16, 2014 Just a little rant.. How they love us when the refunds are large. Then the child tax credits go...but get replaced by educational credits. And then those go...but, there's still the exemptions.... And then one kid turns 25...lives at home...but has an income just above the filing threshold....so guess what? For tax purposes...he's a grown-up. (And yes...he has to pay a grown-up fee because he has 4 W-2s.) And you gotta tell the parents if the 21 year old gets a job after he graduates...the small refund that's left is gonna turn into a balance due. I'm not expecting them back. Mom actually gave me a check for less than the balance due...although I has told her the balance an hour earlier. DH collected the check. Rant over! Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted March 16, 2014 Report Share Posted March 16, 2014 I have had two of these this year.....I always try to give clients warning as their kids age so they won't be unpleasantly surprised the next year...sometimes that helps, but not always....and then...as in your case...they take it out on us. Quote Link to comment Share on other sites More sharing options...
JohnH Posted March 16, 2014 Report Share Posted March 16, 2014 Child age 16 at EOY. This is one of those situations where an email to the client is a very good idea. I usually just tell them that if the exact same return were filed the next year, their refund would be $1,000 lower. Then if they forget my warning and start complaining next year, I show them the email (or re-send them a copy). 3 Quote Link to comment Share on other sites More sharing options...
Carolbeck Posted March 17, 2014 Report Share Posted March 17, 2014 Child age 16 at EOY. This is one of those situations where an email to the client is a very good idea. I usually just tell them that if the exact same return were filed the next year, their refund would be $1,000 lower. Then if they forget my warning and start complaining next year, I show them the email (or re-send them a copy). This exact same thing happened with one of my clients. 1st the oldest dropped out of college, then the youngest turned 17. They were claiming 8 exemptions! Not a problem when you have 3 under 17 children. I kept warning them about the Child credit. Did not listen. "I can't believe they consider a 17yr old not a child" I agree, but take it up with Congress. That senior year can be the most expensive. Now they are not able to take their yearly cruise because they owe over $4K. Of course it is my fault... Quote Link to comment Share on other sites More sharing options...
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