{"id":110750,"date":"2023-04-26t11:57:55","date_gmt":"2023-04-26t15:57:55","guid":{"rendered":"\/\/www.g005e.com\/?p=110750"},"modified":"2024-08-27t17:02:35","modified_gmt":"2024-08-27t21:02:35","slug":"four-reason-to-perform-tax-projections","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/04\/26\/four-reason-to-perform-tax-projections\/","title":{"rendered":"four reasons to perform tax projections"},"content":{"rendered":"

\"fountain<\/a>make sure the client sees the value.<\/strong><\/p>\n

by ed mendlowitz<\/i>
\nthe 卡塔尔世界杯常规比赛时间 practice doctor<\/i><\/a><\/p>\n

many accountants do tax projections. some clients get projections who should not, but there are many who do not, who should.<\/p>\n

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here are some insights about preparing and charging for them.
\n
\nreasons for projections \u2013 collective firm knowledge<\/strong><\/p>\n

partners, managers and other firm members continuously find out information about a client during the year that would affect their tax return. a method needs to be established to capture this information. some problems are created when nothing is done with the information and when the partner remembers it just before signing the return.<\/p>\n

effective work flow software has places to record this information. alternatively, a brief memo can be prepared and placed in the client\u2019s file in a place where the preparer working on the return can see and use it.<\/p>\n

another way to capture the information is to enter it on the excel tax projection worksheet for the current year. irrespective of whether a projection is prepared, the worksheet can be a method of keeping track of a client\u2019s affairs and changes during the year. if there are extensive changes, then a projection can be prepared or at least suggested to the client.<\/p>\n

an example is when a client sold a valuable painting and he mentioned it to the partner, who entered it on the tax projection worksheet. when the client submitted his tax information he omitted this. the preparer noticed the entry when she was filling out the completed information on the worksheet and asked the partner, who then told her what it was and then she called the client to get the full details.<\/p>\n

reasons for projections \u2013 to research complicated transactions<\/strong><\/p>\n

many clients call during the year when they undergo a complicated transaction to find out either the tax consequences or tax that will be due. occasionally there are contracts, agreements, letters of intent or inheritance information. this is a good time to research and lay out the items that will need to be reported on the tax return, or related returns. examples are:<\/p>\n