Sharp Drop in Individual Returns

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#1
Posts:
3
Joined:
22-Sep-2021 5:55am
Location:
Midwest
How did last season go for everyone?

Did anyone else experience a sharp drop in individual returns?
 

#2
Posts:
2887
Joined:
21-May-2018 7:50am
Location:
Northern MI and Coastal SC
Not me--sharp increase and is looking to be a record year with my company across all services offered.
 

#3
Posts:
2611
Joined:
24-Jan-2019 2:16pm
Location:
North Shore, Oahu
Slight drop in "retail-like" 1040 count, but only because we had less time for new clients to come in to file taxes (July deadline for 2020 taxes).

Other than that, we are busier than ever. Too busy. We keep raising our prices, and we continue to be too busy.

So no, other than the anomaly, no drop.
 

#4
novacpa  
Posts:
1228
Joined:
28-Apr-2014 1:16pm
Location:
McLean, Virginia 22101
Not around the Greater Washington DC area, if you don't file and pay - Federal Employees and Federal Contractors
lose their Security Clearances and get fired.
 

#5
dsocpa  
Posts:
822
Joined:
5-May-2014 11:15am
Location:
Maryland
I stopped accepting individual 1040 clients unless they have a business. I kept a handful but most have interests in partnerships, investments, rental properties, etc. It's just not worth the trouble to prepare a basic 1040 and state tax return. My minimum fee is now $375 and my engagement letters state to expect an annual increase of my rate of 5%.

There is little I can do for those clients either, to help them save on taxes, developing a tax strategy, etc. That is where I believe my real value is and how I believe I can best serve my clients, large or small.
 


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