PA 529 College Plan – (800) 440-4000
For your PA 529 College Plan, we’ve been asking for your year-end statement showing the calendar year contributions. Apparently, that statement only shows your contributions for the last quarter of the calendar year.
Auto log/diary
IRS requires this, to document your auto / mileage expenses.
The Tax Organizers Are Coming Next Week – Get out your Driver’s License!
Your Tax Refund May Take Longer, But at Least You'll Get It More security to combat increased identity theft threatens to delay processing this year. Last year's income tax season was marked by an explosion of refund theft. Will this year be any different? Increased...
Year-End Form 1099-MISC
This announcement is meant for all of our self-employed clients (Schedule C), and all of our landlord clients (Schedule E). There are penalties for not filing form 1099 to the government and to your subcontractors who are not incorporated, regarding your payments to...
Twins Born In Different Years Deliver Quirky Tax Result for Parents
Maribel Valencia, 22, and her husband, Luis, became parents in 2015. And again in 2016. Maribel Valencia delivered twin babies at San Diego Kaiser Permanente Zion Medical Center over the weekend but the twins have different birthdays. Jaelyn, a girl, was delivered at...
Daily Gambling Log
Technically speaking, an amateur gambler must report the full amount of each and every win on the miscellaneous income line on page 1 of Form 1040. Use this for your LOG, and enclose it with the rest of your tax info, and Tax Organizer. Daily Gambling LOG
How Far Back Can the IRS Audit?
There are two basic statutes of limitation. First is the statute of limitations, which provides that the IRS has three years to assess an additional tax due. For example, for a taxpayer who filed a 2012 tax return on April 15, 2013, the IRS has until...
Year-End Tax Tips for Individuals 2015-2016
ALEXANDRIA, VA. (NOVEMBER 30, 2015) BY MICHAEL COHN (Accounting Today) The National Society of Accountants has released some suggested year-end tax tips for individuals, courtesy of Wolters Kluwer Tax & Accounting US. Individual income tax rates of 10, 15,...
Social Security – Navigating The Effective Date Deadlines For The New File-And-Suspend And Restricted Application Rules
Michael Kitces NOVEMBER 4, 2015 With last week’s “surprise” legislation that revealed Congress is killing the File-and-Suspend and Restricted Application claiming strategies for maximizing Social Security benefits, even those who weren’t...
Year-End Tax Tips for Businesses 2015-2016
ALEXANDRIA, VA. (NOVEMBER 30, 2015) BY MICHAEL COHN (Accounting Today) The National Society of Accountants is offering some year-end tax tips for businesses, courtesy of Wolters Kluwer Tax & Accounting US. Consider several general strategies, such as use of...
