Thursday, April 09, 2009

And the topic is "Stupid things rich idiots say"


I've been working on multi-entity, multi-state tax returns for about a week for a new client. This client engaged us because his last beancounter botched his returns and he got into hot water with the taxing authorities. Before he engaged us he emphasized, "I want it done right, no shortcuts. I realize it will be expensive but you have a reputation for being thorough and doing good work which is why I want you to do it. I'm going out of town on April 12th, if you can have the returns done before then I'd appreciate it."

The project was extremely complex and his supporting documentation was subpar. There were times I wished he hadn't engaged us. Nonetheless, I was able to finish the project last night (ahead of schedule!) . This morning he came into the office to sign the returns and get them into the mail. Upon seeing the stack of returns he exclaimed, "Holy *bleep*! What is all that?" I explained that the various entities each had multi-state filing requirements and failure to file would eventually subject him to the same problems he encountered with his prior CPA. He was visibly annoyed. After signing the last return he stood up and tossed the pen on the table. As he put on his jacket to leave he said, "You know, I don't think all those returns are really necessary, I hope you're not planning to bill me for them."

Has anyone seen my gun?

4 Comments:

Anonymous Anonymous said...

I don't pretend to know your business, but maybe requiring a deposit up front for large returns would help protect you?

Hindsight now, I know...

Hope you get fully paid for your labor.

7:25 AM  
Blogger willhuntforfood said...

We don't usually collect a retainer unless it's an unusual situation, our uncollectible A/R is very low. We'll get paid on this, it's just the principle of the thing that drives me nuts. Deep breaths...

8:59 AM  
Anonymous Anonymous said...

I am responding to a comment posted on our blog-Hoff Hoopla. Thank you for your insight and lovely thoughts. In reading some of your blog I came upon other common interests-Hume Lake is a very important place in our family and though most of our camping is on the western side of the Sierras; fishing with kids is an adventure no matter where you do it. You sound like a great Dad.

9:21 PM  
Blogger abmo said...

Hi, what happened to you? I still come by from time to time, hoping you were here :-)

1:33 PM  

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