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Always having to pay

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    #1

    Always having to pay

    I'm sure many of you have heard the same story.

    Some clients ALWAYS have to pay...never get a refund. Client speaks up with an air of genius: "I don't want to let the gubbermint use my money interest free for a whole year, so I keep the money for myself." As if we should admire him for his financial prowess.

    Funny, I've never had a single one of these "genius" clients have any interest income to report. I believe the threshold for a bank to issue a 1099-INT is only $10.

    Go figure...
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    #2
    Sounds like these are people that live beyond their means......that they can't save, even get $10 of interest from their bank.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.

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      #3
      Not living beyond their means... they can pay a tax professional to do their taxes, and nothing was said about not paying the tax due.

      I don't judge my clients on things like this -- as long as they are willing to sign an accurate return, and pay my fee, when/how they decide to pay the tax is not for me to say. I'll give them advice if they ask, sure, but that's it.
      "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

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