+ NJ
tax pros might want to check out my “review” of the annual NJ-NATP “Famous
State Tax Seminar” here and here.
+
Professor Annette Nellen gives us some “Due Diligence Reminders for the 2012 Filing Season” in a piece at the AICPA STORE.
+
Joe Kristan tells us “IRS Issues Cents-Per-Mile Maximum Value for Employee Cars” at the ROTH AND COMPANY TAX UPDATE BLOG.
“The IRS has ruled (Rev. Proc. 2012-13) that
you can't use cents-per-mile for cars costing more than $15,900, or trucks and
vans costing more than $16,700.”
+
California tax pros might be interested in attending a conference on “Tax Reform: Status, Needs & Realities” sponsored by San Jose State University
at Techmart in Santa Clara. Click here
for info.
+
TAX PREPARER CONNECTIONS has an “Early Tax Season 1040 Client Letter” for use
by tax pros.
“Here is a sample of a letter you can send
out to clients early in tax season. It is specific to tax changes for the tax
year 2011, so you want to it out soon.
This is a great
way to remind people of their tax appointment with you.”
+
David Williams, the IRS tax preparer regulation czar, sends words of greetings
and update in “Happy New Year, Everyone”.
+
Veteran tax pro Eva Rosenberg, aka TAX MAMA (is there a TAX PAPA?), writes
about her experiences in “Running a Tax Practice – Easy or Hard” at ACCOUNTING
WEB.COM.
Pay
special attention to Lessons 4 and 5 (I, too, speak from experience) -
“Lesson 4: People who haggle over your
initial fee will never value you. Turn them away as clients. This is reported
to me often by other tax professionals. Those who start out trying to push down
your fees are the same ones who insist on calling you daily, with just a 'quick
question' and never want to pay for the time you’ve tracked. Either dump them,
or quote a high fee, requiring a retainer, that is always replenished BEFORE
you take their calls or do their work.
Lesson 5: Get
everything from your clients in writing. Do not accept information verbally.
They will deny they ever said 'it', if 'it' turns out to be inconvenient for
them. This only happened to me once. A doctor’s wife gave me some numbers on
the phone. I prepared the tax return. The balance due shocked her. She decided
to reduce their income amount, saying that she never told me their income was
that high – that I made up the number. I kicked the client out – and never
accepted anything verbally since. Your clients can provide information via
letter, fax, or email. Save the document.”
+
The 2012 IRS Publication 15 (aka Circular E) – “Employer’s Tax Guide” is now
available. Click here to download.
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