Schedules L and M

[RitaB]

I get it

I'm thinking of printing out all the supporting schedules, statements, worksheets & explanatory notes that ATX generates if you let it. Adding just a couple of dollars per sheet would more than double my fee on most returns, plus give the client a folder thicker than the unabridged version of "Les Miserables".

And, you are hilarious, BTW. So is Black Bart. Thank goodness for a little jocularity. (Not sure that is a word, but my friend Gary said it once and I never forgot it.)

[JohnH]

Yes, Victor Hugo was a Frenchman, but this was back when the French could be trusted as allies so let's give him a pass. Most people would use "War & Peace" to illustrate a big thick book, but that would have been dishonest of me because I've never read it, whereas I have read Les Miserables more than once because I like it.

I probably also thought of it because Susan Boyle literally shot to instant stardom when she sang "I Dreamed A Dream" which comes from the muscial "Les Miz" which is loosely based on the novel. However, that's the ultimate irony since if you actually listen to the words, that song isn't at all about having one's dreams fulfilled - it's actually a dark, dreary rendition of some of the cruelest turns life can take. Fortunately, it seems that Susan's life has gone in a more positive direction. There's no question in my mind about the fact that woman has a unique voice - I love to hear her sing. If you want a pleasant 10-minute break from the routine just cue this up: http://www.youtube.com/watch?v=Il5TBgD9kHI

But back to taxes, I generally put what's necessary in the folder, including depreciation schedules, but rarely put year-to-year comparisons or basis computations in it. Maybe I need to add a few things to the list in the interest of giving the next preparer what they need.

[Maribeth]

As someone who has had to recreate basis, more than once, please put the basis statements in with the client's copy.

Maribeth

[RitaB]

Amen, Sister!

I fired a client last year, and I made sure that was in there. He called saying the new preparer needed it. I said, "May I speak to the preparer, please?" She found it.

[Burke]

Well, yes, that is what this CPA does, and I include all the depreciation schedules and the AMT schedules. It does create a bigger package and I do bill accordingly, but in my defense, I absolutely hate to receive a prior return from a new client, that does not have the supporting schedules on it, including the depreciation schedules. I want to know where their interest income came from, and what assets they are depreciating, and some of this information just isn't on the "return" itself.
I absolutely hate having to have the new client get depreciation schedules from their prior accountant, and I absolutely HATE to answer questions from a subsequent accountant who is helping one of my prior clients. All the information is on the return; I have no questions to answer.Maribeth

I agree with that. I was not talking about worksheets and schedules, all of which I include in a client's copy of the return. What I meant I see with some returns, is the duplication of all the Sche A, B, C, D, E, F, etc with the state return even though none of the figures are different.