Tax Insights

Your Guide to State, Local, Federal, Estate + International Taxation

Tax season – overheard in the hallways

tax, overheard, CPA, accounting firm

My Fitbit nags at me every hour if I don’t have 250 steps, so I try to get up and walk around – plus, it helps to clear the brain. Though, realistically, I am usually saying to my wrist – “Just a minute, I am almost done with this email, or tax return, or phone call.”

Anyway, when you walk around, you hear the most interesting bits of conversation, for which you have absolutely no context, which makes them even more entertaining. Here are a few from this just completed tax season:

  • “I just want to create a $160,000 ordinary loss.”
  • “I don’t have a Hello Kitty backpack!”
  • “Wait, you are giving them capital gain income – that is the best kind of income.”
  • “I cannot tell you what pages of the trust agreement I need without seeing all of the trust agreement. So, we need the entire trust agreement.”
  • “Being right is my hobby.” (Okay, I said that. But it was in the hallway.)
  • “You cannot believe what They say.” Response, “Who is They?” Response back, “Any They.”
  • “May I speak to someone that actually knows something?” (I actually needed to go back and ask about this one, because I was so very curious. CPA was on the phone with a regulatory agency. Enough said.)
  • “What are your thoughts on vegetables in your pastry items?”
  • “If you were renting a motel room by the hour, would you pay cash or use a credit card?” Response: “Definitely a credit card – I want the points.”
  • “I am just going to make my own tax form.”
  • “Do you have a summary of the new tax law?” (Asked by a client.) Here is your summary: Your taxes will be either be less, the same, or you will pay more. We also wrote a series of 28 blogs on TCJA items – hardly something you can summarize.

Best phone call question from a client:

  • “I was just at my eye doctor and the receptionist is taking a tax class. She says the new tax law doesn’t apply until 2019, so why did we start doing planning for 2018 if it has been postponed for a year?”

Best quote from an online article I read, before tweeting it out:

  • Just because you know how to use a computer, does not mean that you understand tax law.

Donna H. Laubscher, CPA