jainen Posted August 7, 2007 Report Share Posted August 7, 2007 At the Republican debate last weekend, one of the candidates was discussing how to simplify the tax code, "which now requires $140 billion of American families’ income to prepare their tax returns." Does anybody know where he got that number, and if it is correct? Because if it is, I need to increase my prices. That's an average of three or four thousand dollars! Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted August 7, 2007 Report Share Posted August 7, 2007 I think he had the right number, but attached to the wrong subject. I think that is the estimated cost of 'tax preparation' in this country, but that includes business returns as well. So you have GM's tax preparation in there, for just one obvious example, and all the other smaller businesses, partnerships, corps, even estates and trusts, etc. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted August 7, 2007 Report Share Posted August 7, 2007 But your fees are probably too low, too......!!!! Quote Link to comment Share on other sites More sharing options...
JohnH Posted August 7, 2007 Report Share Posted August 7, 2007 I'm glad to hear you're raising your prices. That's all the reason I need to raise mine as well. (I'm always looking for excuses to raise them anyhow - anything will do) Quote Link to comment Share on other sites More sharing options...
Pacun Posted August 7, 2007 Report Share Posted August 7, 2007 He also included the cost of IRS audits since the code is so complicated. Quote Link to comment Share on other sites More sharing options...
OldJack Posted August 7, 2007 Report Share Posted August 7, 2007 The only reason tax prep fees are so low is that we think we have to compete with other tax preparers. Your clients stay with you because they trust you, not because you charge less than the place down the block. pun intended. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted August 8, 2007 Report Share Posted August 8, 2007 I raise my rates every year to cover my increasing costs and to give myself a much deserved raise. I rarely have a problem with my clients. I add an aggravation fee to those that aggravate and they always complain. I tell them they are free to go elsewhere but they never do! taxbilly Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted August 8, 2007 Report Share Posted August 8, 2007 I add an aggravation fee to those that aggravate and they always complain. I tell them they are free to go elsewhere but they never do! taxbilly I like the idea of an aggravation fee! I think we all have a few of those type. You know the ones that call you during peak season to ask stupid questions? Or worse yet the ones that keep calling (I have a few that can not get through the tax season without calling at least 8 - 10 times asking questions that really do not pertain to my filing their taxes) and then there is the ones that you make repeated calls for additional info and they never respond until they have an immediate need for their refund and then make you feel like your the one holding them up!) I think I too shall had an aggravation charge! Good ideal taxbilly! Quote Link to comment Share on other sites More sharing options...
JohnH Posted August 8, 2007 Report Share Posted August 8, 2007 I think the funniest ones are those who call during tax season to let me know they are getting their info together and to let me know they will be calling back later to set up an appointment. (Maybe they're just checking to be sure I haven't died). Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted August 8, 2007 Report Share Posted August 8, 2007 I like the idea of an aggravation fee! I think we all have a few of those type. You know the ones that call you during peak season to ask stupid questions? Or worse yet the ones that keep calling (I have a few that can not get through the tax season without calling at least 8 - 10 times asking questions that really do not pertain to my filing their taxes) and then there is the ones that you make repeated calls for additional info and they never respond until they have an immediate need for their refund and then make you feel like your the one holding them up!) I think I too shall had an aggravation charge! Good ideal taxbilly! My favorite was a guy who called and told me he had an opportunity to get married and wondered if that would be a tax disadvantage. I told him that getting married should not be based on tax implications. Quote Link to comment Share on other sites More sharing options...
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