TAXMAN Posted March 17, 2016 Report Posted March 17, 2016 (edited) I know we all see them all the time. K-1 from partnership with a bunch of states listed on back with varying amounts of income or loss. Question is how many of us prepare those non resident tax returns for states that have income taxes? Since it takes a load of time to check each state out how would you bill for these. I have a TP who has 5 different K-1's. This could present a very real problem not to mention a very high bill. Your thoughts please. Many thanks. Where would we draw the line on ethics concerning this matter? Edited March 17, 2016 by TAXMAN added second question Quote
BHoffman Posted March 17, 2016 Report Posted March 17, 2016 I prepare nonresident state tax returns when the amount of income requires it and bill accordingly. It takes a lot less time to check each state's filing requirement than it does to prepare a tax return. Would I prepare and bill for a return that was under the filing requirement just to plump up a fee? No. I might tack on a few bucks for the time it takes me to look up the filing requirement. 2 Quote
Randall Posted March 17, 2016 Report Posted March 17, 2016 I look at the amounts. I do have a list of states and their requirements. If the amounts get in 100s, I'll check the list. I run it by the client. Client makes the call for me to prepare or not. 3 Quote
TAXMAN Posted March 17, 2016 Author Report Posted March 17, 2016 Randall, would you mind sharing that list please? I believe that would be something that most of us could use. Quote
jklcpa Posted March 17, 2016 Report Posted March 17, 2016 9 minutes ago, TAXMAN said: Randall, would you mind sharing that list please? I believe that would be something that most of us could use. That's something that that is found in all good research/reference materials. I know that RIA, CCH and The Tax Book have sections or online links to a state section that covers this. Taxman, I assume you are a current user of The Tax Book since you've posted on that forum during this season. 2 Quote
RitaB Posted March 17, 2016 Report Posted March 17, 2016 2 hours ago, Abby Normal said: Pffffft. That was profound. I have no idea why, but I know it was. It needed to be said. I think. 6 Quote
RitaB Posted March 17, 2016 Report Posted March 17, 2016 45 minutes ago, Abby Normal said: I love you, Rita! I love you, too, and you're not all that abnormal. 3 Quote
Abby Normal Posted March 17, 2016 Report Posted March 17, 2016 42 minutes ago, RitaB said: I love you, too, and you're not all that abnormal. Just enough to keep life interesting! 3 Quote
Lion EA Posted March 17, 2016 Report Posted March 17, 2016 Compared to us on this board, you're one of us! But, then, they don't let me go out into the outside world much during tax season to compare with the general population. 7 Quote
BHoffman Posted March 17, 2016 Report Posted March 17, 2016 The sun is shining here in AZ. Sometimes I'll walk a client out to his car and have to blink blindly for a moment or two. Like a mole person. 6 Quote
Randall Posted March 18, 2016 Report Posted March 18, 2016 20 hours ago, TAXMAN said: Randall, would you mind sharing that list please? I believe that would be something that most of us could use. I thought I had a list. Can't seem to locate it now. Quote
FDNY Posted March 18, 2016 Report Posted March 18, 2016 I like www.taxadmin.org/state-tax-agencies And BTW, I love all of you, don't know what I'd do without you. Like a former life of mine, sitting around the kitchen table in a ghetto firehouse....there's no problem we can't solve. Now here, still putting out fires and finding our way through the smoke, and depending on each other. You don't find that kind of comraderie everywhere. You're the best. Bill 6 Quote
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