How about a controversial thread?
03-27-2005, 07:35 PM
#1311
Originally Posted by ralper,Mar 27 2005, 11:23 PM
....Be very careful about calling this time of the year. Absolutely call if your query is important, but don't call for a trivial question that can wait until after the 15th.
03-28-2005, 04:34 AM
#1312
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Originally Posted by ralper,Mar 27 2005, 10:23 PM
Be very careful about calling this time of the year. Absolutely call if your query is important, but don't call for a trivial question that can wait until after the 15th.
She lives 2 miles away from me (for 6 months out of the year) but I have to drive 15 miles into town to see her. 
03-28-2005, 09:52 AM
#1313
Originally Posted by paS2K,Mar 27 2005, 11:00 PM
I called my CPA at 7 pm tonight to ask a quick question. He was not there 
so I left a message.
so I left a message. and was not at all perturbed. He's very laid back...not sure how he does it during this busy period. 
I asked him about the e-filing and he was aware of the NJ dictum for >200 filers. He said that neither he nor any of the other 3-4 CPA firms in his building are doing e-organizer or e-filing. He really likes to get the final copy into his client's hands and make THEM responsible for mailing it/signing it/etc. There is also time and fees involved in e-filing. Maybe he's rationalizing but I guess he will wait until Peeay insists on e-filing
03-28-2005, 10:45 AM
#1314
Registered User
I have found that the first year E-filing takes more time, due to more input required like W-2 employer data, etc. but after that, the time savings on printing another set of returns, assembling, signing etc, plus paper saving, it's a savings to E-file. It costs me 4.00 more to e-file fed and state., which I pass on to clients.
03-28-2005, 10:53 AM
#1315
Originally Posted by ralper,Mar 27 2005, 07:44 PM
Deb,
The only IRA contribution that you can make (if eligible) that can help you out right now is to a Traditional IRA. Unfortunately, this will be fully taxable when you withdraw it.
You might want to consider a Roth IRA. It won't give you any present benefit, but it will be (including the growth) tax free when you take it out. In the long run you may be better off with a Roth.
There are a few factors to consider such as the future value of money, your age, the interest rates and the growth potential. You might want to ask your accountant for his/her advice.
Your tax liability shouldn't be so bad next year because you brought your withholding into line with your filing status. Your taxes will probably be about the same, but the amount that you owe will be lower. Also, you will be less at risk of a penalty.
The only IRA contribution that you can make (if eligible) that can help you out right now is to a Traditional IRA. Unfortunately, this will be fully taxable when you withdraw it.
You might want to consider a Roth IRA. It won't give you any present benefit, but it will be (including the growth) tax free when you take it out. In the long run you may be better off with a Roth.
There are a few factors to consider such as the future value of money, your age, the interest rates and the growth potential. You might want to ask your accountant for his/her advice.
Your tax liability shouldn't be so bad next year because you brought your withholding into line with your filing status. Your taxes will probably be about the same, but the amount that you owe will be lower. Also, you will be less at risk of a penalty.
03-28-2005, 11:19 AM
#1318
Originally Posted by uppitychick,Mar 28 2005, 02:54 PM
We are always done by the first part of Feburary. Is there something that I am missing??
Last year we had to take my mother in law's info to an accountant. I was an early bird and had all the info to them before the beginning of March. It was early April before I heard back from them.
All accountants have my sympathy from January - April 15th!
I'd be doing one of these
if I worked in an accounting office.
03-28-2005, 11:42 AM
#1319
Thread Starter
Originally Posted by Morris,Mar 28 2005, 02:45 PM
I have found that the first year E-filing takes more time, due to more input required like W-2 employer data, etc. but after that, the time savings on printing another set of returns, assembling, signing etc, plus paper saving, it's a savings to E-file. It costs me 4.00 more to e-file fed and state., which I pass on to clients.
As of this morning we are official California e-filers (ero).
We bought the unlimited package from our software vendor, so our e-file cost per client is very low. We process about 1,500 1040s, and the accompanying states.
We don't charge for e-filing, we are calling it client services.
You are right about the extra inputting the first year. We are forced to be more precise with names and reg numbers. Still, I wish we had started years ago.
Deb, the Roth is the right choice.