Well it's here. Tax time. At least for me and countless others that make their living doing what the government requires.......paying up!!! And pay up we do. Yep, death and taxes....a sure thing. Imagine not having this to look forward to?. We'd be alive forever and rich!! Can't have that. Who'd pay the undertaker and the IRS.?......... not to mention I'd be out of a job.
I have been working in a CPA office since 1990 when my youngest went to kindergarten.. It's a business my husband and I started. He's the CPA, and I do all the secretarial and general office work. I tried to retire (even tho I'm much too young for that stuff) when he sold the business, but the new bosses called me back when the girl I hired to take my place quit last summer. I had been working on-call just to keep my fingers in it just in case this girl got pregnant. Well she didn't. She moved to Virginia. Imagine that. Trading the cold winters for a nice temporate state. It should've been me. I crave warmth.
So now here I am with three bosses instead of one. It took the three of them to take the place of just one. We had over 500 clients when my hubby sold the business. At the end he did have to hire another staff accountant to help him do the easy 1040s and payroll stuff. It has grown since we sold it three years ago, and I find myself very busy.
Working this time of year in a tax office is an experience. We start gearing up in November and December. This means we order our suppplies, clean up the last of the extension leftovers, start formulating plans that may help us to be better prepared and organized for the coming tax year. The UPS and FED EX guys start making their deliveries more frequently during this time. And I have noticed they are always guys. Never seen a UPS delivery girl. Why is that?
As soon as Jan 1st hits, we start preparing the 1099's and W2's for the businesses we do. We need to get right on this before the first tax return comes in. These need to be over and done with so as not to get behind too quickly. That's what I'm working on now. And I'm fairly confident I'm in good shape right now. It's a good feeling. Being one step ahead is very cathardic.
Just around the time the last of the W2's are picked up, the tax returns start coming in. It starts as a trickle, gradually becomes a flowing river and before April 15th gets here becomes a downright flood. We are usually drowning by mid March in 1040's, 1040X's, 1120's, 1120S's, 1065's, Schedule A,B,C,D,E, K-1's, and many, many forms from which to choose from. You need it? We have it!! It's a bonding experience. it's like going thru a war every Jan-April. We come out very battered by the end. We all look very worse for the wear and sleep for days after the 15th which just so happens to be the 18th this year......eeeewwwww!!!
The hours gradually start increasing usually starting the end of January. For the accountants, by the end of tax season 80-90 hours a week is not unusual. I'll leave most nights by 5-6 pm and know they will most likely be calling it a night anywhere from 9-11 pm. Last year these guys were working as late as 2 am by the end and coming in at 8 or 9. am. I have no idea how they can do this.. My husband always made sure he was home by 11 pm no matter what. But there is some sort of adrenaline push that comes into play during this time.
Of course these late night sessions mean only one thing to me. It means I will have a pile of files and tasks to be completed for my end of it in the am. I can usually tell what kind of night it was by looking at my desk in the morning. They are very happy, too happy if you ask me, to release these files into my possession. I get the daunting task after finishing my end of the bargain to call the owners of said tax returns. Of course the question most frequently asked is...."How bad is the damage?" The good thing is I usually am not the one to tell the client he owes $62,000 in taxes. But I have been on the end of a phone call wondering if the client had stopped breathing when I delivered the unexpected news. While we have had some clients die over the years, none have as a result of any bad news delivered by us. Thank goodness.
I love to call and tell someone they are going to be getting some unexpected large sum from the government. I think it's the easiest way to have a bonding experience over the phone. I've been told many times that I'm loved. What's not to like here?
Of course if you are expecting to pay out......there's always the extension option. There's even two to pick from. Just try to send a check along with it if you're able.........just to cut down on the interest. Sooner or later it's gotta be paid.
So pull out the 2005 tax records and get busy. The earlier you call your accountant the happier you'll make him.
.