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Business Tax

NodeCfo
Level 2

I had two clients go from S-Corps to C-Corps and one go from a Partnership to a C-Corp for the 2023 tax year. 

Do I have to recreate everything from the beginning or is there a way to change the tax form associated with the client? 

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1 Solution

Accepted Solutions
George4Tacks
Level 15

Bad news.

You have to redo everything again.

Good news.

You get to charge for all this extra work. 


Here's wishing you many Happy Returns

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3 Comments 3
George4Tacks
Level 15

Bad news.

You have to redo everything again.

Good news.

You get to charge for all this extra work. 


Here's wishing you many Happy Returns
NodeCfo
Level 2

That's what I figured. No, can't charge extra because of a software issue to a big client with a bundled annual fee package. The last software I worked with, we could easily transfer all pertinent general data in these situations which was a huge timesaver. Pros & Cons to changing this year - I'm starting to think I should have waited a year to change. 

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qbteachmt
Level 15

"to a big client with a bundled annual fee package"

I don't know your contract terms or price modeling, but what your client has is new entities. If they bought a bunch of new businesses and entities, would that be covered under the existing arrangement or would this be additional scope or even a new contract?

Because this is your opportunity to renegotiate.

It's like an individual just adopted a bunch of new people.

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