I will never ever understand those TP's who owe every year and wait till the last minute when they could have filed in Feb or Mar and not have to pay until April 17th. Oh yes, another call "I dont have much, my taxes are easy it will probably take a professional like you a few minutes" Professional yes, few mins NO. This was a fellow church member for which I give a generous discount and I am located 1 mile from her but she will burn her $4 gal gas and drive to another tax preparer only to probably be charged more. So much of this "I dont want the Govt to have my money any earlier then they have to". I understand with the high interest rates we receive in our savings and checking accts, NOT.
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My response to that client comment is:
You don't have to pay the tax until it is due. The only person you inconvenience is your tax preparer by waiting until the last minute to get the return done. It can be done as soon as you get your documents together and even efiled by, say, the end of February and you still won't have to pay it until April.
As for extensions, I wait until the last week. Now is the time I do a quick calculation to see if the client is likely to owe. Iwork on the ones who that I expect will owe. I call them and send a voucher so they can pay it on time and then if I have to, extend it to finish the paperwork...Once I have them out of the way I file extensions on all the other returns that I have and also the ones that haven't brought the docs in yet and then continue preparing what is in my file.
I don't file returns until I am paid and my clients know that they are going to pay for an extension if their docs are received later than is possible for me to get them prepared and filed by 4/17.Believe nothing you have not personally researched and verified.
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