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New client - no depreciation schedule - options?


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I have a new client (1120 S); over $1,000,000 in accumulated depreciation, but no depreciation schedule, and the prior accountant won't respond to requests for the depreciation schedule.  I think there are some health issues surrounding the previous accountant on top of spotty organization to start with.

Has anyone experienced a situation like this before?  What are the options?

Thanks!

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This only gets resolved between your new client and the previous accountant.

Without a magic wand how do you fix this?

I have a prospective new business client where they and the previous accountant aren't talking.

I have the prior years tax return with the necessary information but the prior accountants work quality is questionable.

What's really bothering me is the new prospective client isn't making any real effort to assist me with the transition.

They have signed the necessary authorization  forms and they have informed the previous accountant that I am taking over.

Unfortunately now the previous accountant is so mad at my client that are providing the absolute minimum of assistance.

So now I find myself in a position where my new client expects me to fix everything.

I am seriously considering having a"heart to heart" talk with my new client and telling them to shape up go elsewhere.

 

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2 hours ago, cbslee said:

So now I find myself in a position where my new client expects me to fix everything.

I am seriously considering having a"heart to heart" talk with my new client and telling them to shape up go elsewhere.

Tell them in no uncertain terms that IF you agree to keep them (uncertain at this time) that they are going on extension and you won't touch a thing until June.  They are to get the prior returns and/or full information from the prior accountant and NOT contact you until the information is in their hands.  Or they go elsewhere now.  Pick one.  You have thirty seconds.  Twenty-nine.  Twenty-eight.

I have NO time any more for jackasses who expect me to pull a hat out of a rabbit.  

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I had one in this kind of situation where the prior accountant said that the 4562 was 'all he had'.  Now I know he's lying.  Ended up reconstructing depreciation from the beginning.  And this was first rented about 15 years prior to when I took over.  Luckily the client is really OCD (diagnosed) and had all the records of what was done over the years.  Got depreciation to within about $30 and figured that was pretty damn good.  Oh and I disclosed what I did.

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7 hours ago, joanmcq said:

Ended up reconstructing depreciation from the beginning. 

Local colleague did that some years ago for a non-profit corporation (some association, not a charity).  Took her for-EVER and of course they did not appreciate her work or her bill, even though she told them "this must be done" and they agreed. Hope your client appreciated all your hard work!

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I told my new client at drop off I needed the Depreciation Schedule.  Crickets.  I mailed them a letter last week telling them I have to have the depreciation schedule, and I sent three sample depreciation schedules, cause they are not the sharpest never mind.  I said I'd be happy to look thru old tax returns if they would bring them in, but the easiest thing for all us would be to ask the 2019 preparer for the Depreciation Schedule.

He just brought in four years of Schedule E's, one of which I had.

Me:  Go to the preparer's office now.  Walk in there, now, and ask for the Depreciation Schedule.  Now.

He:  Ok.  Otherwise how's it looking? 

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18 minutes ago, Abby Normal said:

It's looking like I'm going to either fire you, or hurt you badly!

 

17 minutes ago, jasdlm said:

Here's a hug.

ISTG y'all.  Yes.

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17 hours ago, RitaB said:

I told my new client at drop off I needed the Depreciation Schedule.  Crickets.  I mailed them a letter last week telling them I have to have the depreciation schedule, and I sent three sample depreciation schedules, cause they are not the sharpest never mind.  I said I'd be happy to look thru old tax returns if they would bring them in, but the easiest thing for all us would be to ask the 2019 preparer for the Depreciation Schedule.

He just brought in four years of Schedule E's, one of which I had.

Me:  Go to the preparer's office now.  Walk in there, now, and ask for the Depreciation Schedule.  Now.

He:  Ok.  Otherwise how's it looking? 

I had a feeling he wouldn't go to the other preparer, so first thing this morning I got all their paperwork together, extracted my notes, and sure enough, he came in and said they thought it best to just let the other preparer do it.  What do we owe you for your time? 

Me:  Not a thing, and that's a great solution.  Thank you.  Here is your paperwork.  

He:  Didn't we bring it in a [manilla] folder?

You all know how happy I am to not have this client, don't you?

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1 hour ago, cbslee said:

Rita, I am truly impressed with your composure.

However I am sure your were smiling as they walked out the door🙃

They have a CA rental and no depreciation schedule.  This is a good day.   Catch and release is a beautiful thing.  Sad about their manila folder, but casualties occur at times. 

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I had clients who melted down one time because I threw away all of the envelopes (from the unopened pile of mail they brought me) and she needed them for her 'filing system'.

I still recycle envelopes.  Don't bring me that junk.  If they are precious to you, keep them at home!

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5 minutes ago, jklcpa said:

I cured one of that complaint after I stated my top hourly rate and told her that's what she'd pay if I had to restuff them. 

And she already paid you to open the envelopes and unfold the records.

I love my far away clients who download most of the records as PDFs and scan the ones they receive in paper form, and just upload them to our portal. We don't have to store their records and we don't have to send anything back to them.

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