Here is a group of recent tax fraud cases that have been going through the court system. They have been compiled by Jeff Stimpson in Accounting Today. Take a look: http://www.accountingtoday.com/news/tax_news/tax-fraud-blotter-pining-for-prison-72948-1.html Included are preparers defrauding their clients as well as the IRS. One preparer is required to pay the U.S. over ten million dollars for tax fraud as well as money laundering. As there will be more where that comes from. 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
CPA Financial Musings: Millions of Americans are spending too much on housing
There are millions of people in the United States who are spending more than 30% of their income on housing expenses (rent, mortgage, real estate taxes, homeowner insurance, etc.); this is normally considered the cutoff where home expenses get too expensive for homeowners and renters. The results of a survey by the Demand Institute in Money by Les Christie break it down some more: http://money.cnn.com/2014/12/03/real_estate/housing-costs/index.html The results of the survey show that renters are by far the group spending too much on housing (usually because renters tend to make less than homeowners). Forty-nine percent of renters spend too much compared to twenty-six percent of homeowners. In the group of renters who want to buy a house but can’t afford to, Millennials are the hardest hit, mainly because of student debt and lower paying jobs. 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
Burbank CPA Tax Musings: House Passes $42 Billion Plan to Revive U.S. Tax Breaks for 2014
Well it finally looks like Congress is getting off their backsides and starting to actually help with taxes by passing tax extenders that expired at the end of 2013. See this update in Accounting Today by Richard Rubin and Bloomberg for the details: http://www.accountingtoday.com/news/government-news/house-passes-42-billion-plan-to-revive-us-tax-breaks-for-2014-72913-1.html Now the bill goes to the Senate, then if passed there the two bills will be reconciled and the final bill will go to the President to sign. Why does this always happen at the eleventh hour? Politics of course! 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