In Just the Last Hour

[SueBaby]

SueBaby, I think you are taking the "privacy policy" waaay too seriously...

"My lips are sealed" is a METAPHOR.

That would be good not to talk to clients. But, boy are my lips red and raw today. I have separated my glue stick and chap stick forever.

[Snaggletoof]

Idle Chatter

For Mewhort's sake, don't let Holland read any of this!

So far, there is nothing taxworthy in the entire thread, only idle chatter! You poor lonely souls! Running out of staples just simply doesn't qualify wasting his time reading.

Wait until there's an act of Congress. Maybe that will be newsworthy enough!

[SueBaby]

For Mewhort's sake, don't let Holland read any of this!

So far, there is nothing taxworthy in the entire thread, only idle chatter! You poor lonely souls! Running out of staples just simply doesn't qualify wasting his time reading.

Wait until there's an act of Congress. Maybe that will be newsworthy enough!

This year has been very stressful, very long and hard, very 'pull hair out' time, very awful clients, alot of paperwork, crying time, lost sleep, new research and wishing for retirement!! I have NOT wasted my time in reading and laughing at the posts even it may be idle chatter. It reliefs my pressure I am under all the time here. THANK YOU VERY MUCH for a little of my relief in all of you out there.

[AZ-Tax]

Ever have this client?

Client calls me up yelling "you have incorrect mortgage interest". This is a new client and the reason the entire mortgage interest does not appear on her Sch A is because part of it is used on form 8829. What makes this so stressful is this same client had part of their 2006 mortgage interest used on their 2006 form 8829.

Yes, the client that is never wrong, not even the possibility of being confused, etc.. but hires a professional tax preparer to prepare their tax return.

The other day a clients 1099-B stated proceeds to a stock sale. So how does the client reply when asked for the cost basis, "they forced me to sell the stock via a buy out".

How many of you tax preparers charge your clients for mental consulting?

Tell me again why am I a professional tax preparer?

Hang in their Sue, it gets worse : )

[BOB W]

Client calls me up yelling "you have incorrect mortgage interest". This is a new client and the reason the entire mortgage interest does not appear on her Sch A is because part of it is used on form 8829. What makes this so stressful is this same client had part of their 2006 mortgage interest used on their 2006 form 8829.

Yes, the client that is never wrong, not even the possibility of being confused, etc.. but hires a professional tax preparer to prepare their tax return.

The other day a clients 1099-B stated proceeds to a stock sale. So how does the client reply when asked for the cost basis, "they forced me to sell the stock via a buy out".

How many of you tax preparers charge your clients for mental consulting?

Tell me again why am I a professional tax preparer?

Hang in their Sue, it gets worse : )

Well!, I have a client (business) who changed brokers. They said, " my other broker was doing nothing for me so I changed". They recieved approx 160,000 in gross proceeds and they are confused as to why I can;t finish their return. "You are my accountant you should know how much I paid for those investments". I said "did your ever tell me when you made the investment? No, they said.

Well, they are still angry and have no idear how to find out how to locate that info.

Is this my problem? I've had it these people, it seems all this year (2007) they have been coming "off the wall" with their comments. Time to send them on their way in 2008.

[geekgirldany]

Its been kinda a strange year for me. People have waited so late. It seems like most of them came at the end of March this year instead of end of Jan/beg of Feb. Also had things coming up like that profit sharing question I posted. I've now have to make the decision not to take any more new customers. Too bad as I wanted them but not this late. Maybe I will get caught up.

[joanmcq]

Geekgirl, this is when you rehearse the line, "I can take you on but cannot promise you won't go on extension' (hey sometimes when your mind is blown, its nice to pick up an easy one, even out of order, to feel like you got something accomplished). Or this variation, "You can drop off your stuff, but you will go on extension'. Everyone coming in after this weekend gets one of these lines. The people coming in this weekend will probably get line one.

[JohnH]

Good plan

joanmcq is right on target.

I think it's mandatory to put everyone on extension after a certain date (this year I used Mar 12). Just tell them when they bring it in that the extension needs to be filed as a precaution - you'll try to get it done by Apr 15 but can't promise anything. Once you've done that a few times it gets VERY easy. And if you've ever had a schedule blowup due to an illness, family emergency, etc during late Mar or early April you'll find this easier to do in future seasons. It also prevents you from having to turn down any business.

If you're at the point that you're thinking of turning down business, it's much better to use the extensions to help weed out the ones whom you don't care whether or not they return. Just stretch them out to the end of your work schedule, even if it extends into May, June, July, whatever. At the same time you can give priority to the ones you want to retain and get their returns finished by Apr 15. ("Whew, it was close but I wanted to be sure your return got fininshed in time to get the ealry round of rebates.").

The main thing is that you stay in control of your work processes, not the clients. If you let them dictate your schedule they will wear you out. They don't mean to, but that will be the end result.

[Jesse]

How many of you tax preparers charge your clients for mental consulting?

This is a good thought.

"You are my accountant you should know how much I paid for those investments".

I don't know how many times I've heard this - I'd have to take my shoes off to count - and I just don't understand - what kind of a crystal ball do they think we have?!

[BP.]

joanmcq, JohnH, or others, do you do a preliminary determination of refund/balance due so you can have the clients make a payment with the extension?

[Larmil]

joanmcq, JohnH, or others, do you do a preliminary determination of refund/balance due so you can have the clients make a payment with the extension?

I do the estimate but leave it up to the client whether they pay with the extension.

[geekgirldany]

Some great advice. Thank you guys. I would like the new business but I can only do so much. I really should set my extension deadline earlier in March. I think this whole rebate thing is making people not want to do extensions this year. I've had several come in that usually do extensions every year.
The ones that have come so far are customers I would like to keep and get theirs finished. There are two that I already know will go on extension just because they have not brought all their information.

[AZ-Tax]

Bob W....been there, done that and yet I ask myself why

I finally got rid of client who continually brings in stock confirms not knowing if he received a 1099-B and continually looses his butt on the stocks but his broker is a drinking buddy of his so its ok. Then I am suppose to know the cost basis of the stock.

Mr. Client, I don't think I am the tax preparer you are in need of. You need someone who knows stocks up and down, right and left who probably memorizes the the closing prices of most stocks on any given date. Is there a tax preparer like that out there? I am sure there is. No I did not actually tell him this but I considered it.

[dsi]

I live in a small town in the high desert part of CA. We had a very nice office supply store until recently. The office supply store owner closed his doors after his 4th divorce. Wouldn't you know, I'm in need of a case of paper. The closest source is 4 hr away - Reno or Lancaster. Fortunately, my father-in-law will be in Reno this week-end. Crisis resolved.

I desparately need rubber bands, scothch tape, a few more hours in the day, and a couple cold beers. In this relatively small town, I can only find the beer. Maybe my father-in-law can get the other items for me while he is in Reno?


To add to this, several of my clients....the more complicated and difficult ones to work with...are just now contacting me. How many days left before I have to file for an extension?

I am starting to think I've lost a few clients this year. Free e-filing? Who knows why for sure, but I believe I've lost more than usual.

All I know that's for certain is my credit card bills have come in. I now know how much I need to increase my fees for the remainder of this tax season!

Hang in there people.......

[JohnH]

I mainly do the same thing Larmil does. Get a quick estimate based on whatever info I have, tell the client if they are likely to owe money, and let them decide how much to send in. I explain that if they underpay, they will owe about 1.25% per month on the unpaid balance, and the reason for the extension is to avoid the 5% per month Failure to File penalty. I also explain that the estimate is based on the info I have on hand and that if anything changes they may have a higher balance due when the return is complete. If a procrastinator isn't comfortable with that arrangement, he always has the option to sit it out at HRB or JH. Occasionally some do take that option, which is OK by me.

Getting the extensions under way in mid-to-late March also gives you a chance to take some quality time in late Mar & early Apr to review, recalibrate, and plan how you are going to manage the last couple of weeks. Taking a half-day or so each week to refocus can do wonders for you in terms of controlling your work flow. You can devote more time to high-risk clients or others whom you want to be sure and finish by Apr 15 without having to be distracted by those who bring you a mess at the last minute. Anyone who has ever read "Getting Things Done" by David Allen will recogize that as the "Weekly Review", which is the most important business management tool I've ever learned.

My idea of the concluson to a successful tax season is to spend the day on Apr 15 reviewing my extensions one by one and going home early - usually taking my wife to dinner. And if a panic case calls or drops in, I always have time to do a snapshot of their situation and (of course) get their extension on the way as well, with no rush or stress on me or on the client.