Discussion:CPA's own return
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| 20 March 2007 | |
| How much time do you spend on your own return? I am terrible about my own return. I put it off till the end, and just do it quick. I have done this for all these years. I wish I would do it early in January, but never have. Do I have company in this or am I the only one. | |
| 20 March 2007 | |
| something about the children of the cobbler have no shoes.
Or is it they have no cherry cobler? I always "test" the software with mine, but have to wait until I get all my K-1s in March before I can finish it, but am inputting things every week as they come in. It is always finished on time that way, and I learn about the software. | |
| 20 March 2007 | |
| As my information arrives, I input the information into ProSeries.
I try to finalize my Sch. C information on New year's Day. Sometimes, I even decide to get an extension! | |
| 20 March 2007 | |
| I made a real attempt this January and was playing with proseries at the same time. But, is it done? No. | |
| 20 March 2007 | |
| I filed my tax return earlier than usual and then got a corrected 1099. Now I have to do a 1040x. I'll wait until 4/16. | |
| 20 March 2007 | |
| Even if I have all the information, I always wait until August or September to file. Allows me tax season to sock away as much in the SEP as possible. | |
| March 20, 2007 | |
| My tradition is start my own return at 12am on April 15th. It's the last return I do. I input everything and see if I have enough paid in to cover my Q1 payment. Then I put it on extension until October 15th. | |
Bushmaster (talk|edits) said: | 20 March 2007 |
| Wait wait wait!! WE are suppose to file returns for us too?!?!?!? | |
| 20 March 2007 | |
| Yup...my husband get's mad if ours isn't done by the end of January beginning of Febuary. I keep on wanting to do an extension so that I can wait...I'm doing it next year because I made too many errors this year and I've got to go back in there and amend the return now...I HATE doing that...it would have been easier if I'd just filed my friendly extension and had until October to get it done... | |
| 20 March 2007 | |
| What's the rush? When you are self-employed (either S corp or Sch C) money goes only one direction --> to the govt. So just throw money at the tax and extend it, carry the excess, if any, to next year. | |
Death&Taxes (talk|edits) said: | 20 March 2007 |
| I like to try out Proseries by entering my numbers first, then letting it sit until August or so, but my business is in a C Corp. This year I filed that first in early February. | |
| 20 March 2007 | |
| My business and personal return are always the last returns I do. I file extensions in March and April and finish completing them in June or July. I put alot of time into gathering receipts, paperwork and additional information. Each year the return gets a little thicker and uglier to deal with it. It is a priority, but just not more important then a client's. | |
| 20 March 2007 | |
| Always file extensions ----used to be one of the last returns completed until the kids hit college and we had to file the FAFSA forms - I think there should be a check the box on the FAFSA that says: I made too much money I know I don't qualify for any scholarships or grants so please forward our inability to qualify for government funds to the college...but I still wait until right before the FAFSA deadlines to finish ours up ---- :) | |
| March 20, 2007 | |
| FAFSA deadline was March 15, so mine is done, for all the good it did. | |
| March 20, 2007 | |
| I learned long ago, mine's usually the first ones done...or they may not get done. | |
| March 20, 2007 | |
| JR1, You really got start putting your clients ahead of you and your wife. You are making me look bad.
I shared the "Spouses" thread with my wife, and she said that I needed to be more like you. In fact, I think my wife would rather be married to you. Who knows? Maybe she can stay with you on a part-time basis. I hear the Windy City is beautiful this time of year. | |
| 21 March 2007 | |
| The shoemaker has no shoes.......EXTENSION (besides, might learn some tax breaks from clients) | |
| 21 March 2007 | |
| RFB, tell the barefoot shoemaker to keep his toes out of the cherry cobler too. And none of that American Pie stuff either. ruin a good dessert. | |
| 21 March 2007 | |
| October 15 is when ours gets done, after my 1120S is filed Sept 15. | |
| 21 March 2007 | |
| My return was 95% finished over a month ago thanks to QB, haven't got the nerve up or time to do my tel. tax credit so it may have to wait till May.
Dar | |
| 21 March 2007 | |
| Heh, terrible, I can't even get my mother's return done on time. | |
| 21 March 2007 | |
| I exteneded mine since I already know that I do not get a return of material $$$ >< . I think it is better to reserve all your billable hours for the fishies out there :P | |
Bottom Line (talk|edits) said: | 23 March 2007 |
| I do my S-corp as soon as ProSeries is released to test the system and get it out of the way. My husband starts asking about our personal around Jan 10th - "Are our taxes done yet?" "Have you gotten your W-2 yet?" "No" "No, our taxes aren't done yet." I plug everything in and the only thing I have to wait on is his W-2. I file our's electronically before I e-file any clients. | |
| 23 March 2007 | |
| I keep mine for later, even though I’m yesterday person (I like everything to be done yesterday). It’s just I have a partner with my other s corp business, and he has his accountant preparing our tax return, and she is always late. I was doing it myself for a couple of years, but then learned that my partner costs me more nerves than all my clients together. So I prefer to pay her that he drives her nuts, but not me. Works fine! | |
Actionbsns (talk|edits) said: | 23 March 2007 |
| Mine is the last one done. We'll go on extension in April then I'll probably file it in the fall. Gives me a chance to collect all my revenues and distance myself from the headache for awhile. Although, this year I have most of it in the program already. So who knows. | |
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