Nice conversation with client...makes me smile

[joanmcq]

Just called a client at the early hour of 8:30 am on Sunday morning. They had owed a huge tax bill from 2004 that they were making installments on for the state and federal. When they dropped off their stuff they were asking me about BK and what would happen if they walked away from their house...they had taken out an equity line to help their son buy a house, and then the son got divorced, wife got their house, and wife refuses to pay back loan. Nothing in writing of course, and son isn't in the greatest financial straights either. These are lovely people and old coworkers from a job I had while a student. I consider them personal friends. I had POA and checked their account...with their refund this year, the IRS is paid off, so they will be getting the stimulus and can use the stimulus to pay off the state tax bill, and still have some left over. So maybe they won't lose their house, or at least can start paying off the credit cards they've been using to buy food. So I called early and gave them the good news....and now am happy and feel like I really got to help someone.

Now back to the salt mines. But I have a really warm glow about it.

[DTS]

Joan

I think is this the reason we love our business, when we're able to get nice outcomes or, at least, relay nice outcomes to our customers.

Enjoy the rest of the "warm glow" today!

Dennis

[ChEAr$]

enjoy.....

I think is this the reason we love our business, when we're able to get nice outcomes or, at least, relay nice outcomes to our customers.

Enjoy the rest of the "warm glow" today!

Dennis

because tomorrow's Monday morning. (grin

[joanmcq]

Now the last phone call of the day; had to tell my ex-sister in law & her husband they owe $7700. Ouch. Better tweak those estimates. She started a new job and must've put down M-3 for exemptions instead of S-3.

[DTS]

Joan

I finished a return tonight and this client will owe approx $40,000 Fed/CA. I have been working on my "positive spin" and not sure how that will go over! Bright side is that they have a lot more money in the bank this year.

Dennis

[David1980]

For me the ones that owe the most are the least likely to flinch at their tax bills. I think they expect it. Perhaps they figure they beat the penalty in interest through their other investments or something and plan for owing a huge amount at tax time.

[joanmcq]

Yeah, I called the ones today that took out $42000 early from an IRA to pay off their 2nd mortgage. We had actually talked about whether it was a good idea or not, but the rate had jumped to 12%, and they had had problems with the bank posting payments correctly and just wanted out of it. So they were expecting the call and ready to bite the bullet. The peace of mind (and not having to worry about any more rate hikes) was worth the penalty. He even said, well at least we took it out before the market tanked; we probably would've lost that $4k anyways!