NT / So, how is it going?

[RitaB]

I am enjoying this part of tax season, how about you all? Seems like everybody is more relaxed, less desperate.

(Hey, that sounds like a beer commercial.)

Also, clients tend to be actual taxpayers right now, so I enjoy helping them more. Seeing people get $7,000 in refundable credits was getting old...

[Janitor Bob]

I agree completely. This time of year is much more enjoyable for me. The returns tend to be more challenging (and are charged higher fees), but as you stated, the clients are usually more patient. Most of them that owe are not surprised and those getting refunds are not in a hurry for them.

and more importantly, these are not clients like many earlier in the season who are getting free government handouts (EITC) from my hard-earned tax dollars.

seeing someone pay $500 in taxes and get back $6,000 just leaves a bad taste in my mouth

[mcb39]

yes, it is a happier time of year. Just had a new client couple walk out of here with a $39000 capital gain on a rental property that they owed minimal tax on. They are retired and were so scared when they first came in. They bought the property in 1973 for hardly anything and have rented it out for all of these years. Of course, there were major improvements over the years, but nothing that cost a lot of money. They were basically taxed on the addback of the depreciation which wasn't a lot because they never paid a lot for anything. Nice to see a happy ending. They owe both Fed and WI, but not a fraction of what they were expecting. Hugs all around on this one.

[BulldogTom]

Not so much here. But now that I got my last 1120 out of my hair, I might be feeling better in a couple of days. But I know the procrastinators are right around the corner - you know the ones who are always going to get organized and make an appointment for April 5th thinking that will give you plenty of time to get their 5 rentals and the new business they started and forgot to tell you about done.

Tom

Lodi, CA

[rfassett]

Same here. We push real hard up to the weekend before March 15th. Spend that weekend filing extensions for the corps(only 45 extended this year - yipee!!) and then go into coast mode for the duration. We tell people now that their return will be completed in "a couple weeks" and they say "no hurry". Last month, if it wasn't done in a day or two, they were calling. I was getting frustrated toward the end. We require a voided check for direct deposit info and there is a question on the organizer "do you want your refund direct deposited, if so included a voided check". I told my wife last week that from now on when they answer that question yes and don't include a voided check, I am just going to use MY bank info. Think anyone would notice?

Anyway, I am now down from 15 hours a day seven days a week to 14 hours a day and have only 105 tax returns in house to do with about ten more coming in each day - and I feel relaxed. Oh - and my printer just broke and it didn't even phase me. :)

[Janitor Bob]

I really try to enjoy the last 2-3 weeks of March because it always seems to pick back up in April when my clients with businesses and rentals all seem to arrive.

[RitaB]

you know the ones who are always going to get organized and make an appointment for April 5th thinking that will give you plenty of time to get their 5 rentals and the new business they started and forgot to tell you about done.

Yes, I had that guy, too! Went online and set up an LLC cause he heard it was a good idea. Continues to pay everything out of the personal account. Made his three-year-old twins partners. Had that home office, too, so he could write off all his commuting miles to the actual office. I told him he was too smart for me, and that he would need an expert who would also charge him enough to make the legal and professional expenses deduction worthwhile.

[clay]

I have over 2/3 of the returns I normally do for the season finished, so you think it would get easier. Uh-uh.

Most of the clients from here to the end are disorganized, are much less knowledgeable about finances and taxes, and take forever to get things for you that are missing.

Maybe it is just clients from my part of the country that are like this ... and it could be the long hours are wearing me down and I am longing to go out and enjoy the nice weather that is starting to arrive!

[JohnH]

Having a pretty smooth season here ( in spite of the fact I was in India the first two weeks of Feb) I came back with even more of an attitude that nothing much is going to bother me. We have it so good in this country that 90% of our problems and silly aggravations stem from our just having the luxury of too many options in life.

So I started filing extensions on anything coming in after March 10 this year Surprised a couple of folks since I usually start extensions around the 20th, but so far nobody has chosen to take their stuff somewhere else. But if they do, then it's with my blessing.

[jainen]

>>make an appointment for April 5th <<

Not in my office. After March 24 it's drop-offs only. We'll do "the best we can" but won't promise anybody later won't go on extension. That's been our policy for years, and it works pretty well. (For some reason they never figure out that in order to put them on extension we have to do the whole return anyway so they can pay the balance due.)

I've been very sluggish this year for some particular reasons not related to my career.

[Kimberly K]

As of today, I am done with a nightmare of bookkeeping for a business that increased its sales for 2010. So I am breathing a big sigh of relief and taking the next few days playing catch up on returns.

[mcb39]

>>make an appointment for April 5th <<

Not in my office. After March 24 it's drop-offs only. We'll do "the best we can" but won't promise anybody later won't go on extension. That's been our policy for years, and it works pretty well. (For some reason they never figure out that in order to put them on extension we have to do the whole return anyway so they can pay the balance due.)

I've been very sluggish this year for some particular reasons not related to my career.

Jainen, are you OK physically? You were gone for a while and we found out how much we needed you here, however that is selfish. Take care of yourself.

[BulldogTom]

>>make an appointment for April 5th <<

Not in my office. After March 24 it's drop-offs only. We'll do "the best we can" but won't promise anybody later won't go on extension. That's been our policy for years, and it works pretty well. (For some reason they never figure out that in order to put them on extension we have to do the whole return anyway so they can pay the balance due.)

I've been very sluggish this year for some particular reasons not related to my career.

None of our business, but I hope you are OK. I noticed you are not as active on the board, but I thought there just weren't enough challenging questions that you could show your brilliance on.

We think a lot of you around here. Take care of yourself.

Tom

Lodi, CA

[JohnH]

>>make an appointment for April 5th <<

Not in my office. After March 24 it's drop-offs only. We'll do "the best we can" but won't promise anybody later won't go on extension. That's been our policy for years, and it works pretty well. (For some reason they never figure out that in order to put them on extension we have to do the whole return anyway so they can pay the balance due.)

I've been very sluggish this year for some particular reasons not related to my career.

Good extension policy, but I like to take it a step further. I give them a rough estimate but I make sure they know it might be inaccurate for a number of reasons. Even if they pay when the extension is filed, that's no guarantee that they won't owe more when the return is completed. And I won't be responsible for any FTP penalty or interest on the unpaid amount. As long as that's understood up front, I will accept their info and file the extension. Over the years I've had one or two who griped when they owed more and had to pay some small P&I, but nobody ever asked me to cover it. (Wouldn't do them any good if they did ask anyhow).

I also automatically file extensions on everything as it comes in after my cutoff date. That takes Apr 15 off the table completely and we don't have to do any looping back when Apr 15 begins to loom on the horizon. For me, making the extension decision up front makes it a lot easier to manage the workload as the filing date approaches. I think it enables me to complete more returns prior to Apr 15, but that may just be a self-serving statement.

Hope you're OK, jainen.

[bstaxes]

Jainen hope you feel better.

This year I set the date of Mar 20 after that it is extensions for $25. So far most of the usual clients have their stuff to me and I can work on it. I have 4 more days and the phone is not ringing which is good. When I do extensions I look at the income only and that is what they pay on. The deductions make them have a small refund when it is filed. I am not going crazy because they can't get their act together.

[joanmcq]

I concentrate on single-sex couple returns, so my phone has been ringing off the hook. Anything coming in past the 26th I'm not guaranteeing. I just did an NOL C/B for an existing client and my two ex-roommate's returns just so I could get something out the door.BTW, one of the ex-roommates is an EZ...just to put it into perspective. And I picked up a phone message today "we're going on vacation the 22nd, can you have our return done by then?". I work at this after my day job & I have only 8 or 9 in front of them, and most are single sex, so they are really 3 returns each.

I really, really, wanted to get in my hot tub tonight..maybe tomorrow I'll make it.

Oh yeah, and monday I was diagnosed with an ulcer.

[Lion EA]

Hey, Joan, take care of yourself !!