How is everyone doing

[Roberts]

I've started going that way myself. New clients with any potential EIC get a high price quote. I can tell now by looking at their income if they are headed that way or looking at previous year return. Majority will not pay my price. It has eliminated the worry I've had for awhile with EIC clients. I was reading about the possibly of expanding EIC and doubling the penalty on tax preparers. So it just isn't worth it. I too would rather work on high income, complicated, returns than quickies.

I only have 2 EIC clients and I've been doing both of their returns for 5+ years and have been to both of their houses and met the dependents. One is a disabled brother of the client. I'd agree though, a new prospective client coming to me that I've never met before and wanting to file an EIC would actually worry me. I did it for another client's brother one year and when he didn't qualify the next year, he walked out without paying or taking his own tax documents.

[geekgirldany]

I think eliminating the EIC clients is an excellent move.

I've started going that way myself. New clients with any potential EIC get a high price quote. I can tell now by looking at their income if they are headed that way or looking at previous year return. Majority will not pay my price. It has eliminated the worry I've had for awhile with EIC clients. I was reading about the possibly of expanding EIC and doubling the penalty on tax preparers. So it just isn't worth it. I too would rather work on high income, complicated, returns than quickies.

[FEDUKE404]

Second from here

I think eliminating the EIC clients is an excellent move. The risks with that group are so huge that I don't see a way to make it profitable & mitigate the risk unless you specialize in them. But eliminating clients with brokerage statements would be a mistake, IMO. Those should be your higher-paying clients, and Schedule D got much easier this year.

You can enter summary totals for almost everything on the 1099B and submit an attachment to IRS. I've found most of them to be very easy this filing season. At most you should have no more than 5 entries, even with wash sale transactions. I'm sure it would be problematic with a non-confirming 1099B, but I haven't seen one this season that didn't meet the attachment requirements.

I tend to greatly agree with JohnH on both counts.

Many/most EITC clients are "slippery" and I neither need the headaches nor the risks. Those who do choose to cater to those clients are certainly entitled to their business decision.

As for the brokerage statements et al, it's my opinion the Forms 1099 have improved greatly (perhaps someone read the rules? ) within the last couple of years, and the data entry options are now simpler. Those clients do normally have the higher priced returns.

Quite frankly, I would rather endure a handful of complicated, high-fee returns than be spending my time with a higher number of "quickie" returns. The number-crunchers at Block and J Hewitt probably see things quite differently, I'm sure.

Oh well. The end IS near!

FE

[JohnH]

I'm at 261 now with 20 appointments on my book and probably another 30 still out there. I have just two extension. I prepare the bulk of returns (98%) while they are in the office. This was difficult when I first started it this way but works good as there is only 1 trip and get paid immediately. My business has been going down slightly each year, about 10 each year. Had one that had a brokerage statement, of course, it was corrected with another statement and now they corrected it again. Been thinking about just eliminating clients with brokerage statements and EIC clients for next year. Wondering how much work will be involved with the ObamaCare penalties and refunds. Who will be giving the training on this? April 15th is usually a dead day.

I think eliminating the EIC clients is an excellent move. The risks with that group are so huge that I don't see a way to make it profitable & mitigate the risk unless you specialize in them. But eliminating clients with brokerage statements would be a mistake, IMO. Those should be your higher-paying clients, and Schedule D got much easier this year.

You can enter summary totals for almost everything on the 1099B and submit an attachment to IRS. I've found most of them to be very easy this filing season. At most you should have no more than 5 entries, even with wash sale transactions. I'm sure it would be problematic with a non-confirming 1099B, but I haven't seen one this season that didn't meet the attachment requirements.

[BOB W]

Bob, did you ask for a deposit before you began the work?

Will do that when he calls back and I get to see what the condition of the info is in. They were a $400 a month account. But when the real estate market crashed they went down hill. Don't know how far down is down.

[geekgirldany]

I have done around 100... I am down 50 from the past two years. People closing their business, going TT, or just gone period. I am blessed with the clients and business I have. Looking into providing some other type of services... maybe even getting into insurance.

[DaveO]

I'm at 407 signed and billed about 25 down from last year at this time with about 30 in inventory. I expect between 75 and 100 extensions. Average year except for the lateness and dumb questions.

[zeros]

Have 20 Appointments Now -Will Be Down from Last Year.

I'm at 261 now with 20 appointments on my book and probably another 30 still out there. I have just two extension. I prepare the bulk of returns (98%) while they are in the office. This was difficult when I first started it this way but works good as there is only 1 trip and get paid immediately. My business has been going down slightly each year, about 10 each year. Had one that had a brokerage statement, of course, it was corrected with another statement and now they corrected it again. Been thinking about just eliminating clients with brokerage statements and EIC clients for next year. Wondering how much work will be involved with the ObamaCare penalties and refunds. Who will be giving the training on this? April 15th is usually a dead day.

[RitaB]

Holy Problem Children

Three or four clients have managed to kill about a week for me, you know how it is. One a restaurant that changes bookkeepers about every two years. I've had them one year; they paid no attention to the financial statements and now can't believe they made money. "Where did it go?" Uh, maybe your boat, your Hummer, your BMW, your son's apartment, your cruise, your trip to the beach, your fingernails every three weeks. If I lose them, good for me. I mean, Whew.

I've done 291, but that's very few state returns, only eleven Corps, Partnerships. Three individual returns from hell (well, not the returns, the clients) that I need to finish. Twenty-one over here finished I'm wishing someone would pick up and then throw money at me. Thirty extensions, probably get a few more before it's over. Would like to have more extensions; I'm here all year.

Had a good year with ATX. Can't complain. Just softly whimpering right now.

[Justataxguy]

I am a part time preparer who also works a regular seasonal job. This year I was called back to work March 3rd and was keeping up with things pretty well doing taxes nights and Saturdays. Last Thursday I got sick, and Monday my doctor put me off work for the week. It's just as well as I had 5 late drop offs yesterday, and had 2 come in and sit down today. I am feeling somewhat better but am glad to have the extra time to myself.

Then there was the one I finished last week who went into a tirade on the phone with me because he was going to have to pay in. Called me back an hour or so later and wanted his tax documents back to get another opinion. Fine with me. Some people can't understand that some withholding may not be enough. Don't need clients that anyway.

Looks like I'll end up with similar numbers to the last couple years. 170 - 180.

[AZ-Tax]

Did you ask for a deposit?

Had a Corp client come in that fired me in 2008 and tells me they need all the back returns done since then, I did the write-up.

Bob, did you ask for a deposit before you began the work?

[Burke]

All my really squirrelly ones came in after 4/1, which was my cutoff date. I have 18 to go, and 3 more that aren't in yet. Will do what I can up until Sunday. That's it. What gets me is that I have 6 that have been ready to pick up for a while -- still here.

[geekgirldany]

I am slowing down also. For awhile there it was crazy and now it has slowed down since yesterday. I have about 6 to finish up... just waiting on the info to do it.

I've had several call wanting to see if I still had time to prepare their return, I told them I am doing extensions now. The last few returns I have are complicated and just reviewing and printing out will take a couple of hours. Then you add on those that still have not come by to pick up... does not leave a great deal of time to start and finish new returns.

Wow, just had someone tell me I should charge more...

[Golden Rocket]

Nothing better to do

I've had a problem, not with latecomers to file, but with stupid questions that the clients actually think I will have time to research before the 15th.

Everything from how to claim on W-4s to making a copy of Sch C (from the return I just sent them all paperwork) to send to his insurance company.
Telling someone what to do on W-4s is like trying to predict the future.

And documents. Didn't have them when we filed the return, and now suddenly I am being sent 1099-Bs, 1099-DIVs, and various things with a note that says
"Oops, I think I forget this little thing and found it going through my stuff. Do you think we will have to refile?" Grrrrr. As if "What on earth makes you think
that we WON'T have to refile?"

Like the old cartoon about the barber who accidentally shaved off a customer's nose, and then glued it back on upside down. Then says, "Oops, tee hee it's
upside down..."

[JohnH]

I'm down to 4 returns to finish and about 30 with extensions filed. Two of the remaining 4 are complex enough to require a little extra thinking, but then other two are fairly routine. Friday is my last official work day because my grandson has some foot surgery scheduled for Monday. I'll come in on Tuesday to review all my extensions and make a few phone calls, then take my wife to dinner early that evening. Mother off to the beach until Monday the 21st.

This has been one of the easiest tax seasons ever for me. I've filed the least number of extensions this year because I completed many more returns during the filing season. I credit having switched from ATX to Drake in 2013 for the increased efficiency this year. The second year with Drake is where you really realize the benefits because you begin to reach software transparency in the second season. Drake runs circles around ATX in terms of speed and efficiency at all levels I wish I'd made the switch when I first considered it several years ago.