TT woes

[ILLMAS]

Did I say the right thing?  Yesterday someone called to see if can I prepare their  2016, they have prepared their return using TT in the past but were stuck when it can to depreciation.  The person didn't understand how it work, the benefit, how to set it up in TT etc..., they asked if I prepared their 2016 and if I can give them a depreciation report so they can use it for future years, I responded by saying if you are just looking for someone to explain depreciation and give the tools to prepared it yourself next year then I will not be interested in preparing your tax return.  They said that was not their intentions but then there is the gut feeling.

[Pacun]

You just lost 95% to the bottom line. You already have the software, the knowledge, the time, the paper, the internet access, the toner... and so and so. So almost all of what you were going to charge was going to your bottom line.

You take this type of client and give them their depreciation report and they will come back next year because they will not learn how to do it because even if they understand the principle, they will not know how to input the information.

In my mind, all my new clients are not coming back next year and I accept them, otherwise, I would not be in business.

Comprende compadre?

[rfassett]

I would have taken the client. I give all of my clients with depreciation a depreciation report with the return.  If they feel so motivated to try it alone - I will be more than happy to help them straighten it out when they screw it up - at highly inflated rates.

Now - if your prospective was interested in being schooled in the intricacies of depreciation - that I would not do.  I do not operate a school.

[Evan S. Golar]

TT is a commercial product that makes the ignorant public feel as if they can be a do-it-yourselfer.  Any lay taxpayer who feels they can work with TT products - isn't worth my time wasting trying to teach them how to use it. Have them "Ask the Box" as the advertisement used to say.

[RitaB]

8 minutes ago, rfassett said:

I would have taken the client. I give all of my clients with depreciation a depreciation report with the return.

Me too, but I give them the Tax Classification Report which shows 2016 depreciation, and even assets which have been disposed of.  (Sorry I ended a sentence with a preposition, need more coffee.)  I would charge extra for Detail Report that shows 2017 depreciation since I know he's not coming back unless he gets called out on his errors, which is unlikely, let's be honest here.  I'm not sure if ATX prints 2018 and subsequent years.  If I had to do it manually, it would be worth an awful lot more.

[RitaB]

1 hour ago, ILLMAS said:

... they asked if I prepared their 2016 and if I can give them a depreciation report so they can use it for future years, I responded by saying if you are just looking for someone to explain depreciation and give the tools to prepared it yourself next year then I will not be interested in preparing your tax return.  They said that was not their intentions but then there is the gut feeling.

I certainly understand your response, and it is not wrong.  You have the right to run your business any way you see fit.  I can see a time coming when I might do the same thing you did.  I might also do it now if the person seemed unsavory, for lack of a better word.  None of us were there.  You did fine.

[Edsel]

I am in the business of preparing taxes.  I would be happy to prepare their tax return, and not feel obliged to give them a "soundbyte" over the phone, which this customer thinks would be adequate.  There are numerous elections which come with depreciation -- and an IRS publication which is a half-inch thick.

Don't tell me you are going to use TT and expect me to advise you.  The advertisements for TT are everywhere, and tries to make the listener believe they can spend a lousy 40 bucks and be as smart as a CPA.

 

[ILLMAS]

Thanks everyone, lets say my gut feeling was wrong and the person intentions are good, but there is something else that threw me off, they mention that had taken off a specific day the following week and they wanted to come in and see me, but when I told them I could not accommodate them on that specific day, to my surprise they didn't counter offer another date they could come in. 

[Pacun]

To these type of clients, I ask them to drop off the documentation and to pay half of my fees, then I will call them if I have questions and I will call them when their taxes is ready to be reviewed and signed. When they ask me "how do I do this on TT?" I ask, "what is that?.... I use another software package so I have no idea about TT. You can call their support hot line and they will be able to help you".

[JohnH]

4 hours ago, RitaB said:

Me too, but I give them the Tax Classification Report which shows 2016 depreciation, and even assets which have been disposed of.  (Sorry I ended a sentence with a preposition, need more coffee.)  I would charge extra for Detail Report that shows 2017 depreciation since I know he's not coming back unless he gets called out on his errors, which is unlikely, let's be honest here.  I'm not sure if ATX prints 2018 and subsequent years.  If I had to do it manually, it would be worth an awful lot more.

This business of ending a sentence with a preposition is an error up with which we should not put.

[RitaB]

5 minutes ago, JohnH said:

This business of ending a sentence with a preposition is an error up with which we should not put.

Don't be out calling me.

 

[rfassett]

22 minutes ago, RitaB said:

Don't be out calling me.

 

Methinks you should be called out just because of!

[Catherine]

@RitaB and @rfassett -- OK you two... any minute now, you're going to start splitting infinitives in addition to ending sentences with prepositions.  Then comes bad punctuation ("Let's eat Grandma!" -punctuation saves lives).  Enough already!

[Jack from Ohio]

Where is this thread headed to?

[FDNY]

It's rare, but when a situation arises where my gut feeling is that a new client is taking advantage of my good nature I will not take them on because it's an indication of what the future will be.   These clients can be exhaustive in wasting your time.  

You know where these people are coming from.   And you like to tell them where to go to.  I hope I used the prepositions in the right context, I want to be correct knowing the people I'm here with.

[RitaB]

14 minutes ago, FDNY said:

You know where these people are coming from.   And you like to tell them where to go to.  I hope I used the prepositions in the right context, I want to be correct knowing the people I'm here with.

Crying. 

[Catherine]

This is for @RitaB

[BulldogTom]

I take on the TT clients when they come in.  Even if it is a one year deal, I made the money for selling my services.  That is what I am in business for.

Did I nail the grammer?   I hated English class.

Tom
Newark, CA

[SaraEA]

I have found that many folks who have struggled with doing their own taxes and finally give up and seek a pro are amazed about how smoothly and quickly the process goes.  They often decide that all the painful hours they spent on the thing isn't worth their time, plus they walk out feeling confident their return is correct.  They become long-term clients.  I had one last year who had multiple PTPs plus some inherited annuities and a trust K-1.  He had spent days on his return before he came to me.  I charged $1,000.  He came back this year and said he and his wife would have killed one another if they tried to tackle it again.  He had sold 14 of the 15 PTPs, so I charged him $1,500 with an assurance that next year's price will be much lower.  I'm willing to bet he returns.

[Richcpaman]

What SaraEA posted to.

Had a phone call on April 12th.  Referred by a good client.  Can't figure out the education credits.  TT is not helpful.  (Duh!) 

She had spent 2 hours collecting her info, but had spent 4 hours messing around with TT.  I told her: "You poor woman... what is your time worth?"

She is coming in next month for a full consultation.

That is getting on top of it.