Billing for 2017 Income Tax Prep

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#1
ISCPA  
Posts:
1
Joined:
19-Feb-2018 12:24pm
Location:
New York
:geek: Wanted some opinions and thoughts about on this.
I have never sent my clients an itemized bill for tax preparation services rendered previously. But in light of the new tax law I have been considering on my schedule C & E clients allocating the bill so they will be able to deduct part of the bill in 2018 on those schedules.
Is anyone allocating their bill? Am I or my client asking for trouble in do this?
How are you presenting it? How are you determining the allocation? I think in some cases a high % (50% or more) can be allocated to schedules C or E.
Thanks.
IS CPA
 

#2
Derby  
Posts:
104
Joined:
10-Oct-2017 7:52am
Location:
Flint, MI
I don't see why it would be a problem as long as you use a reasonable allocation.
 

#3
Posts:
1246
Joined:
22-Apr-2014 5:22pm
Location:
Upstate, NY
I allocate based on time spent. So if I spend most of my time on the rental and then have one w2 besides, I might allocate 75% of the bill to E. It’s kinda a feel that I think I can defend if needed. I don’t allocate on the bill itself because I don’t want to argue with a client over separate charges. My fees are not high to begin with.
 


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