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CPA's/Tax Preparers - How ya doin?

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CPA's/Tax Preparers - How ya doin?

Old 04-14-2008, 11:10 AM
  #1  
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Default CPA's/Tax Preparers - How ya doin?

I finally have all my client's extensions prepared, just waiting on some checks to be dropped off and a few being Fedex'ed tomorrow morning. My practice is 1/4 of what it was 3 years ago but the last 3-4 weeks are still out of control.

My horror story of the year - On Thursday 4/10 around 4:30, I received via email a package of K-1's that affected a "family" of 8 returns. The K-1's were prepared by another Firm in town. Each K-1 had over $800K in income. A lot of scrambling to get estimated balances to pay with extensions. I originally planned on $600K. aaaarrrgggghhhhhh.
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Old 04-14-2008, 05:01 PM
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Default Re: CPA's/Tax Preparers - How ya doin?

Hey i'm one of those guys that always waits till the last two weeks. My hat is off to my accountant He has paperwork stacked all over the office last week but still finds the time somehow to get me in.
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Old 04-14-2008, 06:23 PM
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Default Re: CPA's/Tax Preparers - How ya doin?

working on my extensions as i write this. been a crazy tax season, stupid rebate brought people who havent filed on time in 20 years to the door on april 1 with their info.

I think we assembled over 200 returns in the last 6 days

74 hours and 79 hours the last two weeks

gettin too old for this, anyone want to buy a practice?
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Old 04-14-2008, 07:04 PM
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Default Re: CPA's/Tax Preparers - How ya doin?

hgh - I sold about 80% of my practice in 2005. It seems the remaining 20% still kills me the last 3 weeks. This year was nothing compared to the way it used to be. I'm 47 and decided a while back that even I was too old.

On a serious note, if you want to know how my sale went shoot me a note.
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Old 04-16-2008, 09:55 AM
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Default Re: CPA's/Tax Preparers - How ya doin?

hgh, dropped this year to 179 hours from April 1 through the 15th, from an average of 210 for the last ten years. Figured that, with retirement just around the corner, I had to ease into it a bit. Sitting here now trying to get the ambition to do my April 15th billing and write a couple of letters to the IRS on behalf of clients. Right after April 15 is a difficult time to find ambition to do much in the way of work.

Had clients walking in the door at 4:30 with W-2s wanting me to prepare an extension with almost no info. Those are usually the most agrivating type of client and probably the only ones that I will miss. Only real horror story was the amended 1099 from the brokerage firm that reduced taxable income for a partnership client with 33 partners who live all over the country, what a mess!
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Old 04-16-2008, 11:04 AM
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Default Re: CPA's/Tax Preparers - How ya doin?

I'll let you know when this hangover goes away.
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Old 04-16-2008, 12:20 PM
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Default Re: CPA's/Tax Preparers - How ya doin?

Can I deduct gasoline on a schedual C?????????????? Please?
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Old 04-16-2008, 02:45 PM
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Default Re: CPA's/Tax Preparers - How ya doin?

Made through ok, left the office at 8pm on 4/15 but mostly just double checking all efiled extensions and returns.

Naturally filed several extensions and quite a few 1120/1120s/1065 ext, these people are some of the worse for getting information in on time but that is the
nature of our business.

Took today off to play a round of golf, he shot an 85 which is not bad for me and have not touched the clubs in 2 months .

I did stop by my office today for a few hours and answered some phone calls, still got people calling about this Stimulus Rebate , and will be back in on Thursday to get sales tax reports
ready for Monday and start on 1QTR reports for payroll customers.

I am planning on taking Friday off to FISH.

All in all good but stressful season but that is normal, still love my work and enjoy all of my clients, at least MOST OF THEM


I did come home last night and enjoyed a couple of Martini's and a RYJ Cigar and a sit in the hot tub with the Admiral but was back up this morning at 5 am and washed 3 loads of clothes, 2 loads of dishes, and even fixed the Admiral breakfast before she went to her office, hopefully that will pay off tonight
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