Continuation of

[geekgirldany]

When do you guys start doing extensions for people? Last year if they called on April 1 I told them I would have to an extension.

[Unregistered]

whenever they ask for one

I'll do a return on April 15 if they're willing to pay the extra fee I'm going to charge. I file very few extensions, don't want to drag out "the season" any further than possible.

I dont' have a specific cut off date, it's based on each individual situation.

JoshInNC

[Jiggers]

Cutoff Date

My cut-off date is March 20th, this year. My end-of-the-year letter gives this date. With the following: "I do not make any appointments after 3-20-2006. I also do not take telephone calls after that date. If you need to call me, please leave your name and phone number and a brief nature of the call with my secretary. I will call you back when I have a break in working a return."

I also sent a letter out to my regulars on March 10th, reminding them of the cuf-off date and that "I dedicate all available time after that date to completing returns that are in-house by then (March 20th)."

And, I stick to my guns.

I have two monthly bookkeeping clients that always used to come up a with a special request such as special financials after my cut-off date. I broke them of that habit.

[JG EA]

I love that IDEA!

Not take phone calls - great idea. Then you can not be talked into squeezing in your client. Like the bumper sticker says "Your lack of planning does not make it an emergency for me".

I won't do it I know but it is a great idea.

[jainen]

the way it is

I use a cutoff date too. It's the last Friday in March, and it's in my letter. I tell them, anything that comes in after that, I will do my best but I can't guarantee that it will be done by April 15th and they might have to go on extension. And that's the way it is, too.

[Black Bart]

Strict disciplinarians, eh?

Guess I'm a pig--I want ALL the business I can get, even the cull cases (within reason). I don't expect to change any lifestyle or habits and somebody has to be last. I take everybody that walks in the door right up 'til 4-15 and tell them I'll get them by the deadline if there's time. If it's a box/sack case then I just tell them I'll have to get them an extension and they're usually okay with that. If it's a "short form" I tell them I'll have it in about three days. I write up extensions on 4-15 and semi-"lock them in" for a later date.

I know I'm a disorganized messer, but, shoot, this money's gotta last for another eight months.

The offended may withhold my happy face grade.

[geekgirldany]

Well my cutoff date for most is April 1. But... if it is a simply return like W-2 and Sch A lets say... then I will do it. I agree with Black Bart. I'm pretty bad to still take them. But those with businesses and shoe boxes have to do extensions.

[Jiggers]

Cut-off Addtional

I also plan on finishing up on Friday, April 14th. That is Easter weekend and I won't work that Saturday or Sunday. I always take off two days after April 15th. That means closed Monday and Tuesday. I won't start on my extensions until after May 31st. I have sales tax reports due April 20th, payroll reports due April 30th, and corportion franchise tax returns due May 15th. I hate to be hardnosed about this, but clients take advantage of you and don't care if you drop dead from a heart attack. They can just get another return preparer. I worked for one that dropped dead in late March many years ago. The following year a competitor dropped dead the first of April.

I am sure I will have a busy schedule today with those that will bring in their stuff. I also add $20 to the bill for any return that comes in today. What really gets me is that some of those that come in today will be calling in a couple of days to check on their return. As of right now I have 99 returns in-house that need to be completed. None complicated, just long with lots of schedules/depreciation. I try to do them in order received.

[oceanlovin'ea]

Some always wait

until the last minute. I have several that are always coming in after April 1 and some the last week. For the most part, the clients of mine that wait don't have difficult returns to do. They either are going to owe money or just super busy. I know they are coming so I just am prepared.
I also have a few teachers and others that work in the school system. They always come the week of spring break.
Since I am building my business, I don't turn anyone away yet. Maybe some day I will get to that point, but not yet.
I have some referrals that have just moved to Florida. I am waiting for them to come. But since I appreciate all new business, I will gladly take care of them when they call.

Linda F

[Bees Knees]

I have trained all of my clients over the years that if they don't call and make their appointment by April 1st, their return must go on extension, assuming they do eventually call and still want me to do their return. Nobody has ever had a problem with that policy.

[Black Bart]

Backlog

clients take advantage of you and don't care if you drop dead from a heart attack. They can just get another return preparer. I worked for one that dropped dead

right now I have 99 returns in-house that need to be completed.

Well, you've got some good points. If I had 99 returns in-house, I would drop dead of a heart attack--either that, or I'd have to get organized like you guys and start cuttin' people off.

As to the vacation, that doeeessss sound good. I've been threatenin' to to go to Florida for a few days after tax season every year now for years and haven't made it yet. Like you said--the dang other taxes are in the way. Oh well, maybe this time I'll go and just do the sales taxes on the 20th and the payroll taxes 27th through 31st.

[Gary]

Speaking of Turbo Tax

I had a client come in today with his computer. He did his taxes on Turbo Tax, then received another W-2, and wanted me to amend his return. His original return had two states, moving expenses, 2106, home office etc. When I looked at his original return, I found all his W-2 income on a schedule C (nothing on line 7) and no SE tax, so he obviously clicked the button for exemption. I suggested that he go to the IRS office in town and tell them to refigure his taxes.

I had another client that sold $300000 in mutual funds with a basis of $50000 and purchased other mutual funds in the same family. Their stock broker told them it wouldn't be taxable since it was in the same family of mutual funds. I thought they were going to start crying. Since they bought the fund about 25 years ago and they did have significant dividends, I told them to find all dividends for the past 25 years and this would help reduce their taxes, but I still think it will be significant.

[JON]

Like funds

can happen in mutuals, but they are usually very carefull and not 1099 is issued. If substantial portion of the assets are the same.

[veritas]

I had a client come in today with his computer. He did his taxes on Turbo Tax, then received another W-2, and wanted me to amend his return. His original return had two states, moving expenses, 2106, home office etc. When I looked at his original return, I found all his W-2 income on a schedule C (nothing on line 7) and no SE tax, so he obviously clicked the button for exemption. I suggested that he go to the IRS office in town and tell them to refigure his taxes.

I had another client that sold $300000 in mutual funds with a basis of $50000 and purchased other mutual funds in the same family. Their stock broker told them it wouldn't be taxable since it was in the same family of mutual funds. I thought they were going to start crying. Since they bought the fund about 25 years ago and they did have significant dividends, I told them to find all dividends for the past 25 years and this would help reduce their taxes, but I still think it will be significant.

First I'm wondering about advisor's error and omission insurance?

Secondly I sure love TurboTrash!

[Gary]

can happen in mutuals, but they are usually very carefull and not 1099 is issued. If substantial portion of the assets are the same.

Jon:

I don't understand? Why would they not issue a 1099-B? The sale is certainly taxable. This is not a wash sale. What do "substantial portion of assets" have to do with taxability?

Gary