Musings of a Burbank CPA: Working from home – how to stay productive.

As someone who flirted with using a home office when I started my CPA firm almost five years ago, I can appreciate ways to be productive in that situation.  See this post in The Christian Science Monitor by Dan Rafter for a list of five things to help with home office productivity: http://www.csmonitor.com/Business/Saving-Money/2015/0720/Working-from-home-How-to-stay-productive?utm_campaign=Daily+Clips&utm_source=hs_email&utm_medium=email&utm_content=20702528&_hsenc=p2ANqtz-_pUVKUwG9KbyeYXKcUI-Sg3o-Br0QnvegdKnVz2lG_eJFKVo-ycQj8dAUVh03Dt-LUv6mBrp3Hm2HVNxYdYsAnUSxvFQ&_hsmi=20702528 The biggest problem with my home office was two-fold.  First it was impossible to sit down with clients at home, so I needed at least a conference room or small office to meet with people. Second and most important, the area used as an office was an extension of our den, where the big TV was.  It made working at home just about impossible, so I finally rented an office in an executive suite that I still have.  Working at home is great for many, just not for me.    For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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Tax Musings of a Burbank CPA: IRS taxpayer service goes from Bad to Terrible

This is something that every tax professional knew was going to happen after the IRS announced budget cuts.  Where is the first problem going to be – a slow down in customer service.  See this article in USAToday by Kevin McCoy that gives details on the total breakdown in IRS phone service for the last tax filing season: http://www.usatoday.com/story/money/2015/07/15/irs-taxpayer-service-2015/30181465/?utm_campaign=Daily+Clips&utm_source=hs_email&utm_medium=email&utm_content=20612080&_hsenc=p2ANqtz–wq-9K5PETkUeJhoTFg_z2CPz782Agh4yTB2kHC6C06DfWKNOhiV0PHxfQKG1bDp-nVg9SNDS_UarBjemlFIXEdoCVHQ&_hsmi=20612080 Since my feeling is that you should not depend on IRS telephone advice anyway (you can get 3 different answers to the same question with three different phone calls), it is better to talk to a tax professional for this type of information than a telephone person who is probably being paid close to minimum wage and now is not available most of the time.   For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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Tax Musings of a Burbank CPA: Reporting Gambling Income and Losses on Your Tax Return

If you are someone who likes to gamble, you need to be aware of the IRS requirements of reporting gambling winnings and deducting gambling losses.  See this tip from the IRS about gambling winnings, reporting and how to deduct your losses (even if you can): http://content.govdelivery.com/accounts/USIRS/bulletins/10d0fd9#.VZrT-j12yRA.twitter … Always keep in mind that all gambling losses can only be deducted as a miscellaneous itemized deduction and only up to your gambling winnings, so if you don’t itemize you may not even be able to deduct your gambling losses.  It might be wise to discuss this with your tax preparer (or if you use turbotax hire someone to discuss it with) so you know what deductions you even qualify for. For financial,  accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net  Phone: 818-317-6035   Website: www.briantstonercpa.com   Android and the IPhone:    Has been Featured On   https://twitter.com/bstonercpa

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