How's business?

[ChEAr$]

Good question there

What do you do about clients who come in late and are going to owe to avoid the penalty? I have to basically prepare the return to find out whether they need to send in a payment with the extension request.

The weather here in Phx is so fine it's a shame to have be in the house all day.

about those who come in late. Last October, a widow on extension called me just a few
days before we were to leave on vacation. I told her "no"; anyway if she were getting a
refund, like usual, there would be no problem. also that even if not filed by oct 15, she
would not miss out on the stimulus since it would just be a reduction in tax for 2008.
So far so good.

Then two days before we are to leave, fellow calls for me to do something for him; I ask
him how soon, he says something to the effect it's not an emergency, and I say good cause it can wait till we get back from our vacation. he asked where are we going?
I say we leave Friday for two weeks, first going to Athens (Greece). So he says"
Hey, that's great! who are they playing this weekend?" (Athens, Georgia, home of the
University of Georgia bulldogs!)..... . You MIGHT be a redneck if.......

Arizony must be nice. I was watching the game last night between the Cubs and the
White Sox ... Spring training you know.

[joanmcq]

I've gotten a couple of new ones...a new client today came in with their hand written attempt at the CA RDP returns...and since he had tried Forex trading I'm looking at a 6281 or 6821 or whatever the 'contracts straddles and whatever' form is. When I saw the 1099-B, that's about how I described it to them too...I'm totally fried and tonight I paid bills and read emails when I should have been finishing returns....

[geekgirldany]

he asked where are we going?
I say we leave Friday for two weeks, first going to Athens (Greece). So he says"
Hey, that's great! who are they playing this weekend?" (Athens, Georgia, home of the
University of Georgia bulldogs!)..... . You MIGHT be a redneck if.......

I probably would have said the same thing

I actually had a Saturday where I did not have appointments. So I just stayed at my home office to get some returns done. Have several with their broker statements with ALOT of transactions. Glad I can do a 8453 and attach them to it. I've got several that still have not picked up returns. I will probably be taking people up until the end depending on the return. I've still got 4 corporates that have to go out.

[BP.]

What do you do about clients who come in late and are going to owe to avoid the penalty? I have to basically prepare the return to find out whether they need to send in a payment with the extension request.

Would love to hear from you guys on this question of BHoffman's. Recent years I've been the one to put late arrivals on extension, as opposed to filing extensions at clients' request. But how to figure any liability? Do you just figure safe harbor amount, and have them send a check to cover, or what? This has always puzzled me for those of you who do mandatory extensions after your cut-off dates. Think I will be forcing more extensions this year.

[Jiggers]

Extensions and balance due

Would love to hear from you guys on this question of BHoffman's. Recent years I've been the one to put late arrivals on extension, as opposed to filing extensions at clients' request. But how to figure any liability? Do you just figure safe harbor amount, and have them send a check to cover, or what? This has always puzzled me for those of you who do mandatory extensions after your cut-off dates. Think I will be forcing more extensions this year.

I have passed my date that I accept returns to get out by 4/15.

At the end of that day, I mailed letters to all prior year clients who did not bring in their information. Most are the same ones, year to year.

I said that they must respond to my letter requesting or refusing the extension. No response will be the same as no extension.

I also gave April 6th as the last date to drop off their information so that I can calculate any balance due. It does take time to do that.

I do not estimate to the penny. I estimate to the nearest $1,000. Take it or leave it. If they make quarterly estimates, I include the 4/1509 estimate amount with the extension, and then when the return is completed, I apply the overpayment to that estimate and refund the balance. Gives me a little play room in case I didn't calculate the extension amount correctly.

I do bill clients $50 to $100 for filing the extension. I put that in my year-end letter, so the client knows that.

[BP.]

Thank-you, Jiggers! Good info. Over these many years I've always found your comments about practice mgmt, client relations, fees, etc, very enlightening. Appreciate your sharing!

[ChEAr$]

About extensions

Would love to hear from you guys on this question of BHoffman's. Recent years I've been the one to put late arrivals on extension, as opposed to filing extensions at clients' request. But how to figure any liability? Do you just figure safe harbor amount, and have them send a check to cover, or what? This has always puzzled me for those of you who do mandatory extensions after your cut-off dates. Think I will be forcing more extensions this year.

Should someone call me on April 14th saying "I can't pay 'em a thing, so just file an
extension for me.", I politely tell them "no" and IF they want me to do the return, bring the tax data on in for me to look over so I can estimate how much balance due will be on the
extention form that THEY will mail in the next day. And even if they can't pay it all,
if they will not give me enough information to make a reasonable estimate of balance due,
they can simply go elsewhere.

My reasoning is that these are the people who will then wait till October 10th to call you
to find out the latest date they can bring the data in to you.

Life's too short. Besides, I might just be headed To Rome this year instead of
Athens.

[BP.]

Besides, I might just be headed To Rome this year

Me too!! And not just maybe.

[Jiggers]

Rome, GA?

Should someone call me on April 14th saying "I can't pay 'em a thing, so just file an
extension for me.", I politely tell them "no" and IF they want me to do the return, bring the tax data on in for me to look over so I can estimate how much balance due will be on the
extention form that THEY will mail in the next day. And even if they can't pay it all,
if they will not give me enough information to make a reasonable estimate of balance due,
they can simply go elsewhere.

My reasoning is that these are the people who will then wait till October 10th to call you
to find out the latest date they can bring the data in to you.

Life's too short. Besides, I might just be headed To Rome this year instead of
Athens.

Rome, Georgia?

[JAinNC]

I miss you guys - have not had time to even do much surfing here. A few times I have come here to post a question - but have gotten my answer from your prior posts. -- Thanks so much- I love you guys.
I have been busier than ever - not much of a break - In Feb I started marking off a few days in the appointment book for "catch up days". I am still not caught up..... but much better than I was on 3-14-09. We are a a year-round business. I have worked almost 7 days a week since Feb 1. For this season I am increasing all fees by at least10% this year. I don't know where all the new clients are coming from - mostly businesses and out of towners. But I will not complain. I usually cut back on my receiptionest hours and extra accountant after 3-15 but not this year. We have lost some clients - as we do every year -
--- I will say I am really ready for a few days at the beach or a few night in a bar after April 15.

Jeannie

[ChEAr$]

Hah!

Rome, Georgia?

I just KNEW I'd get a bite.

BTW, aren't you working today, Jiggers?

[ChEAr$]

In that case

I miss you guys - have not had time to even do much surfing here. A few times I have come here to post a question - but have gotten my answer from your prior posts. -- Thanks so much- I love you guys.
I have been busier than ever - not much of a break - In Feb I started marking off a few days in the appointment book for "catch up days". I am still not caught up..... but much better than I was on 3-14-09. We are a a year-round business. I have worked almost 7 days a week since Feb 1. For this season I am increasing all fees by at least10% this year. I don't know where all the new clients are coming from - mostly businesses and out of towners. But I will not complain. I usually cut back on my receiptionest hours and extra accountant after 3-15 but not this year. We have lost some clients - as we do every year -
--- I will say I am really ready for a few days at the beach or a few night in a bar after April 15.

Jeannie

considering joining some of us in Charleston May 11-14th for the combination
NC and SC EA Assn meeting. 18 hours of cpe, including 2 ethics.

[JAinNC]

Thanks for the invite. That is the weekend of my ????? th class reunion - we have every 5 years.
I do need to actually travel and go to some good seminars instead of trying to do it all on-line or by ordering courses.
I'll check with all you guys later to see what some of you are doing.

Jeannie

[DTS]

Travel

Do any of you ever travel out West? I've only met a couple of you out here.

D

[ChEAr$]

traveling

Do any of you ever travel out West? I've only met a couple of you out here.

D

Well, I may consider it in the future, for I have all these unused Delta Skymiles.