Caught up!!

[oceanlovin'ea]

I've got a client who sold a rental...short sale and 2 1099-C's on the property. Sold for half of what they paid for it. Big cancellation of debt. I'm sure I will have to figure insolvency for them. Not enough time to do it today.

linda, EA

[ChEAr$]

I've got a client who sold a rental...short sale and 2 1099-C's on the property. Sold for half of what they paid for it. Big cancellation of debt. I'm sure I will have to figure insolvency for them. Not enough time to do it today.

linda, EA

Amazing, simply amazing.

A client called early this morning, needed to get caught up for 2010 also.
Now it turns out she has a 1099C for rental property bank took back last year.

Why does it happen to us so late? (rhetorical question.)
But in her case she wasn't insolvent; just didn't want to pay it and found easy way to get out from it. The real taxable event though is the depreciation taken last five years. It's payback time.

[DMICPA]

Can I collapse Now

Three extensions. Two are on extension every year.

I noticed that no one mentioned extensions caused by clients that fail to provide the data

I have one client that just does not want to be bothered giving me the paperwork. Instead of the Brokers 1099, he says "just use $3,000 loss".
Mortgage interest is the same as last year. Can't find it this year.
Lost the charity receipt, use something like last year.
Lost part of my check register so I don't know what my property taxes were.

When pressed, he sends me the February 2012 Brokers statement because that is all he can find.

I am certain he will not have any income tax so he goes on extension but he was not to happy about it because he wants his refund. Also I can't bill for the time spent because he wants His return before he pays for me preparing it so now I have to wait till maybe October.


How about the one I already e-filed a month ago and he just sent me another 1099 with Federal and State W/H? it looks like a 1040-X is coming his way. I have had clients complain about the charge for doing the 1040-X because they feel they did me a favor by getting the data in early. Next time they will wait until the last day and then want it done with no extension.

I think I will just sleep Wednesday.

This stuff was not in the accounting career brochures when I went to school!

[JohnH]

Why does what they want matter?
You want to get paid when you do the work, but what you want doesn't matter to THEM.
You should extend the same courtesy to yourself that you are extending to them.

[ChEAr$]

DMICPA, Here is a classic case of two clients you do NOT want next year.

Read them the riot act next january 2nd and REFUSE to take them if you don't have all their "stuff" by April xx th.


Life is TOO short.

And I think others here will agree with me.

[RitaB]

Right you are

DMICPA, Here is a classic case of two clients you do NOT want next year.

Read them the riot act next january 2nd and REFUSE to take them if you don't have all their "stuff" by April xx th.


Life is TOO short.

And I think others here will agree with me.

Yeah, these two are clients, not customers. LOL.

[BOB W]

Why wait until next year.........file the extension and tell them goodby.

They are disrespectful and should not be YOUR client.

[joanmcq]

I have 82 extensions...and have 241 returns started or completed. I've more than doubled returns in the last two years.

The hard thing is starting back to work after I take the next week off...well except for a phone conference on Thursday for consulting work.

[Gretel]

I am pretty much done too with far more than extensions than ever plus one huge corporation project and some other projects. I never left tax season with big tax projects remaining before.

I am glad the long hours are over but I am dreading somewhat the shorter hours too, since they tend to leave me with a feeling of not getting anythings accomplished. I still will we very busy until I am leaving on May 5th for my seminar in NC.

[oceanlovin'ea]

I just can't get motivated today. I have a couple of clients coming to pick up returns and I have to go pick up tax papers from an elderly lady in a retirement home nearby who called on Friday. She's been sick and didn't realize it was so late.
But I could be working on stuff now and I am just sitting here. Ok, I will clean up my desk. That will be a start.

Joan - that is a lot of work for one person!! Wow!!!!!!

Linda, EA

[ChEAr$]

I'm here at almost noon time, waiting for 2 clients.

One to come in, sign and pay me so I can efile the returns.

Second one signed the papers and slipped them thru mail slot but forgot to put my check in with them.
So then. She knows she forgot to put the check in. She knows I know she forgot.
My quandry is whether or not to push the send button for them.

[oceanlovin'ea]

The question is do you trust her to bring the check in to you or put it in the mail to you. I have clients that forget to bring their checkbook and usually I will let them bring it back to me. But we aren't usually at the wire.

That is also why I started taking credit cards. If you have a smart phone or iphone, you can get a little white square attachment for your phone free from squareup.com. Download the app to your phone. When you need to take a credit card payment, you just put the square in the phone. They charge 2.75% when you do a transaction. That is the only charge. Not a bad deal.

Linda, EA

[superman]

Done!!!

Just finished last return.....Had a great year 352 returns done and filed ext for 20 more. Have not had this many extensions in a few years. Another successful year and just looking forward to some short hours during the year.

Now I just had someone walk in and need to get the 2008 done because today is the last day and he needed it done quick. I like the saying that I see here It is not my crisis if you put things off to the last second...

Have a great Summer!!

Superman

[BP.]

That is also why I started taking credit cards. If you have a smart phone or iphone, you can get a little white square attachment for your phone free from squareup.com. Download the app to your phone. When you need to take a credit card payment, you just put the square in the phone. They charge 2.75% when you do a transaction. That is the only charge. Not a bad deal.

Linda, EA

Thanks so much for this post, Linda. Was going to ask you how you liked the square; you had mentioned earlier that you were using it. Going this route next season. Plan on purchasing an iPad for this purpose.

[taxtimeagain]

I just started using Square this tax season. I bought a smart phone and then had to get smart enough to operate it LOL....I love the square so far