Extenders

[spanel]

How exactly does the amount of time involved change if it's charge or no charge?

The time doesn't change. But I would rather work on things that make me money.

I do free amendments.. dont get me wrong... but those are going to be things that I made a mistake on.

If a client has a choice to wait or file now and they choose to file now, that is on them. I would also make sure they know that as well and there will be an additional charge if you ask me to do more work that I already gave you the choice to wait (which would not make me work any additional amount).

Maybe that just me. If I paid for work to be done and additional work came up... I dont expect it to be free.

Chris

[mastertaxguy]

Federal tax changes

ATSMAN Here's why:

Jimmy Politico, back home in his state: "Elect me, and I'll stand up for [your state] values! We've had enough of Washington thinking running things the wrong way. It's time time you had someone to fight for your healthcare values, immigration values, tax values, birth values, and everything else you believe in."

John Q Public: "You go, Jimmy! Go up there and do all that!!"

Jimmy Politico, in Washington: "What do you lobbyists want me to do? I don't care what I told those ignorant voters in [your state], I'll sell out in a heartbeat."

ATSMAN, I'm sure up where you're from you have honest politicians, not like the ones down here. Everyone lives in nice houses with well-trimmed lawns, has good jobs, and are smart enough to vote for effective representatives.

It would be nice, imho, if the moderator of this forum limited "political" posts to those days which are spelled, in US English, with a Q.

[taxea]

I read a suggestion, yesterday, which came in an email from Tax Mama. Her suggestion is that TP's strongly consider an extension on their 2017 returns because some members of Congress are submitting a bill to bring back several deductions that were loss for various reasons. I recommend we all research it.

[kathyc2]

You guys must have more time than me.

How exactly does the amount of time involved change if it's charge or no charge?

[ATSMAN]

You guys must have more time than me. I'll happily do the amendment.. probably like $50. No way am I doing an amendment for free for something the client created.

They are not going to "go down the street" as you say. Plus they are going to pay WAY more than that anyway.

Anyone with any kind of volume, you can figure 50+ clients with just the PMI deduction being significant alone. I'm not doing that many amendments for nothing.

Chris

Chris I am not trying to pick an fight here, but just put the shoe on the other foot! Did you ever feel nickel and dimed by another service provider for a small favor?

[spanel]

I would do exactly the same thing. I guess it depends on what your business model is. I would much rather have a returning client than a new one. If I have to go out of my way to keep a good current client happy I don't see that as an imposition but rather working in both mine and the clients best interest.

You guys must have more time than me. I'll happily do the amendment.. probably like $50. No way am I doing an amendment for free for something the client created.

They are not going to "go down the street" as you say. Plus they are going to pay WAY more than that anyway.

Anyone with any kind of volume, you can figure 50+ clients with just the PMI deduction being significant alone. I'm not doing that many amendments for nothing.

Chris

[kathyc2]

Why on Earth would you do that!!!

I would do exactly the same thing. I guess it depends on what your business model is. I would much rather have a returning client than a new one. If I have to go out of my way to keep a good current client happy I don't see that as an imposition but rather working in both mine and the clients best interest.

[ATSMAN]

Why on Earth would you do that!!!

I don't work for free. They have two option. Wait and cross your fingers (ya right) or file your return and if they actually do extend, I will file a amendment.

I sure as H3LL don't work for free when its NOT my fault. I sure as you know what am not amending a ton of returns to add PMI, energy credits,etc for free!!

Chris

I don't work for free either but you have to think strategically! Do I want my client to go down the street to my competitor to get a 1040X done? What do you think my competitor is going to do to convince them to switch? Do I want to take that chance for less than 30 minutes of my time? I think not!

[spanel]

Either they know something that we don't know or they are stupid!

I would like to hear from ATX users who are getting the IRS rejects.

I have advised my clients that in the event it does get retroactively extended, I will do the 1040X for no charge!

Why on Earth would you do that!!!

I don't work for free. They have two option. Wait and cross your fingers (ya right) or file your return and if they actually do extend, I will file a amendment.

I sure as H3LL don't work for free when its NOT my fault. I sure as you know what am not amending a ton of returns to add PMI, energy credits,etc for free!!

Chris

[ATSMAN]

How the heck are software vendors allowing returns with a PMI deduction to be transmitted? The law as it stands is that it is not a deduction.

Either they know something that we don't know or they are stupid!

I would like to hear from ATX users who are getting the IRS rejects.

I have advised my clients that in the event it does get retroactively extended, I will do the 1040X for no charge!

[kathyc2]

https://myatx.blogspot.com/2018/01/p...extenders.html

How the heck are software vendors allowing returns with a PMI deduction to be transmitted? The law as it stands is that it is not a deduction.

[Snaggletooth]

See link below

https://myatx.blogspot.com/2018/01/pending-tax-extenders.html

[kathyc2]

Not so fast. Congress is now entertaining a post-mortem revival of many of these items, and the vote will drag on deep into tax season.

Where are you finding there is any chance of that happening? All I can find is S2256 sponsored by Hatch. It was sent to the Finance Committee 12.20.17. Hatch chairs the committee, so it he wanted it to move through it would have done so already.

[spanel]

When will America get Lobbyists that Lobby for the average Joe! When I vote, if I feel my rep or senator is not meeting my expectations, I either vote for a new candidate that I think may make a difference or just leave that box open, vote for my local elections. I am a strong believer of term limits!

So the main ones are:

No more

Tuition and Fees --> use American Opportunity or Lifetime Learning
Energy Efficient Credits --> $500 worst case lost
Principle Residence Indebtedness Forgiveness --> This could be huge as its all income now.

Chris

[ATSMAN]

ATSMAN Here's why:

Jimmy Politico, back home in his state: "Elect me, and I'll stand up for [your state] values! We've had enough of Washington thinking running things the wrong way. It's time time you had someone to fight for your healthcare values, immigration values, tax values, birth values, and everything else you believe in."

John Q Public: "You go, Jimmy! Go up there and do all that!!"

Jimmy Politico, in Washington: "What do you lobbyists want me to do? I don't care what I told those ignorant voters in [your state], I'll sell out in a heartbeat."

ATSMAN, I'm sure up where you're from you have honest politicians, not like the ones down here. Everyone lives in nice houses with well-trimmed lawns, has good jobs, and are smart enough to vote for effective representatives.

When will America get Lobbyists that Lobby for the average Joe! When I vote, if I feel my rep or senator is not meeting my expectations, I either vote for a new candidate that I think may make a difference or just leave that box open, vote for my local elections. I am a strong believer of term limits!