Discussion:This year's business (taxes/accounting)
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> This year's business (taxes/accounting)
| 31 March 2007 | |
| As in another thread that I've posted, has this year been alot slower than the past? How do you guys foresee the future when it comes to tax prep work with everyone going online now and filing their returns. I'm sure most of those will come to us when they have problems, but initially is what I'm referring to. | |
| 31 March 2007 | |
| SLOWER??? I am up 59% in number of returns versus this time last year. 339 finished as of 5 minutes ago compared with 213 by 3/31 last year. I am the only preparer in my office. Last year's average fee was around $250, this years will be around $285 because I have had many more large returns at over $350 to counteract the ones I've done at $75. | |
| 31 March 2007 | |
| If you aren't growing your tax client base you NEED to come to my session at the NATP conference on marketing. See my profile page for the dates Kevinh5. | |
| 31 March 2007 | |
| Well this is my SISTERS office, and she's telling me she's not making as much as next year. (I have so much plans for when I one up, if she has enough at the end of the year). Im doing her jan/feb accounting right now to see what its like, and it hasnt changed much at all honestly. Ill look into it Kev... (Do you have one in Orlando?) | |
Death&Taxes (talk|edits) said: | 31 March 2007 |
| I would not say slower, just later.....packages from the heavy hitters have all piled in the door the past ten days. And the packages are still coming in: 9 by mail, fax and email [one 58 page tif document, which admittedly was part broker statement boilerplate) Thursday afternoon) Of the nine, 3, the most complicated ones, suggested extensions but I must work out an idea of how they are doing. | |
| 31 March 2007 | |
| Just as a recap, last year we completed about 2200 personal tax returns, and this year we have about 1500 so far. we'll see how april treats us. | |
| 31 March 2007 | |
| 1500 BY 3/31 AND 2200 BY 12/31 you seem on track, probalby get 400 to 500 more by 4/15 at the pace you are going, and 200 the rest of the year.
I wouldn't worry if it is your sister's business. | |
Death&Taxes (talk|edits) said: | 31 March 2007 |
| For my take on growing the business, read: http://www.writing.com/main/view_item/item_id/260331 | |
| 31 March 2007 | |
| Kevinh< I kinda do worry, because what happens this year as far as net profit determines whether I get my own place or not by October! :( And its the sole income for my family | |
| 31 March 2007 | |
| yeah, but you look on track to do the same numbers. If not, then why do you want to work for your sister anyway? It isn't over until it's over. | |
| 31 March 2007 | |
| If I had the money I'd open my own thing w/o her help, but I just finished paying off almost my CC"s and my car, totaling 15K (I still owe about 7K more on CC's) | |
| March 31, 2007 | |
| Have finished 593 so far (plus amendeds) compared to 630 (plus amendeds) at the end of March 31st last year. Had 70 new and prior clients last year and have only had 44 new and prior clients this year--probably because I haven't advertised for about four years and more people are doing their own online (and this is my 32nd year, so growth is not a problem here anymore).
I think I'll have more dropped off in the next two weeks than I did last year, though. I'm just hoping to do 700 and hoping my gross receipts will be at least 7% higher than last year, since it looks like I'll do about 30 less than last year. | |
| March 31, 2007 | |
| I've been losing about 30 to 35 clients each year for the last two years, and I'm sure it's due to more people filing their returns online. Before 2006, I would gain about 100 and lose about 100 each year. | |
| 31 March 2007 | |
| My numbers are up this year but have 54 left to come in and 12 waiting for that one more piece of info. I am going to be so fried come the 16th. The same clients wait until the last two wks every year....it drives me nuts. | |
| March 31, 2007 | |
| I have 12 pending and 5 dropped off today that I haven't worked on yet. I'm expecting 90 to 100 more to be dropped off in the next two weeks, many of which will be on the next two Mondays. Last year, I did 90 from April 1st through the 14th (723 total plus 13 amendeds). | |
| 31 March 2007 | |
| Hooray I just completed MINE. Course I won't efile for another couple days since I have this knawing in the pit of my stomach that makes me want to think I'm missing something. Maybe that comes from the HUGE! error I found this afternoon in calculating a 1031 exchange we did. I seem to have more problems (or maybe it's worries) with my own than any client I have. | |
| 31 March 2007 | |
| Impressive Kevin - good for you keep up the good work!
My business has increased as well -- don't have time to figure percentages for this year..last year I increased about 40% over the prior year....I know it's not as big of increase this year.... and I don't expect to lose my clients to efiling .... most retirees don't want to mess with the internet! Gotta love Florida! | |
| 31 March 2007 | |
| My business is definitely up this year, we have over 40 new clients this year so far. Clients are getting stuff in later this year and more complex returns. Only a couple of clients did not return. Usually when they relocate I remain their preparer. I have clients all of the US and one in Italy and one in Ireland. I have the usual clients referrals and I have some clients that I have never met and have been doing their returns for years. We communicate via email, snail mail and telephone. | |
Death&Taxes (talk|edits) said: | 31 March 2007 |
| Such a small world: a client in North Jersey who was here three weeks ago gave my name to a woman in California in '310' not to do her taxes, but because both were ex-Knight Ridder employees caught in the buyout by McClatchy last year. This caller said my client told her I had a method to arrive at cost of stock bought in the 80s & early 90s and could I help. She wanted to let her preparer know what I did. Good lord: I divided the shares sold/split adjusted by the number of quarters the employee worked and came up with discounted purchases per quarter and multiplied by a KRI history sheet giving discounted price and actual price. Probably screwed them since they most likely bought far more at higher prices as they earned more money later, but it was a method. Oddly, a client who now works for the LA Times and lives out there had done all his homework; I wondered why more people didn't. | |
To join in on this discussion, you must first
log in.
