Why do I do it/Why do I care

[mrichman333]

 

So I hate when this happens.   A TP who has mutable sources of income (multiple 1099R,RRB 1099R, RRB 1099, and W-2’S) AND They have less then % withheld from any of them.  Now he has a $9720 tax bill.  AND I’m STRESSING, I went over everything 5 times to make sure I made no mistake.

WHY??? It’s not my tax bill.  I’m not the one who refuses to have enough withheld.

 

I need to charge a stress fee on top of my PTA fee.

 

[JohnH]

You could call him and tell him you have good news and bad news:

1) The bad news is he owes IRS $ 9,720

2) The good news is he only owe you $ 972 for all the double-checking.

[mrichman333]

"2) The good news is he only owe you $ 972 for all the double-checking"

[JJStephens]

Back when I first started preparing taxes I had a retired client who waited until the final year to cash in a bunch of stock he acquired through an employee stock option program. It resulted in a total tax due (federal & state) of $120k. He called to ask how it was going. I hemmed and hawed and told him I had figured it six different ways. He replied, "I'm sure you did a good job. How much do I owe?" I again dithered and assured him that I had applied every trick I knew. He again thanked me and asked how much he owed.

I finally told him $120,000.

He practically screamed, "$120,000!"

I again started trying to explain all the work I had done to minimize it, but he just yelled again, "$120,000!!!"

Then he said, "How did you do that? I thought it was going to be at least $160,000! How did you manage to get it down to $120,000?"

Every once in a while, I love getting to be a hero. I just never thought it would happen when I told someone he owed $120k!