Planning for year-end.

[JG EA]

In trying to plan for end of the year - Client is now for the first time subject to AMT. I don't know whether to say prepay the state or keep your money in the bank for a few months. The tax comes out the same either way. AMT just gets little or bigger depending on the regular tax.

If this particular client will be hit, well so will many more of my clients be hit. They say 20,000,000 people more. This could be an uncomfortable tax season. Either people will be mad at owing more, or mad about waiting for refunds.

[Bees Knees]

I am still thinking about how to word my letter to clients when I send out the organizer.

We have to stop being the nice guy and start charging for the government messing up AMT. If I have to file a return for someone wanting their refund, they will have to pay me big time to amend the return after new AMT legislation is passed. If I have to look at AMT more closely for borderline AMT people, they will have to pay for the extra work. If I have to spend time in client interviews exploring the AMT issue with each client, they will have to pay for the extra time.

We also have to consider our increased costs in keeping up with this issue. How is it going to affect your tax business, when on February 20th, Congress finally gets around to passing a law retroactive back to 1/1/2007, and you have to spend a day and a half out of your busy tax season trying to figure out the new law?

Its not our fault. Its not our client’s fault. But somebody is going to have to pay for this mess.

[erchess]

Here's an idea

All tax professionals should invoice their members of congress for the added expense. :P

[Roberts]

All tax professionals should invoice their members of congress for the added expense. :P

Are you an attorney by training?

I like the way you think.