As usual, there will be some delays on the final 2014 tax rules, which may not be passed until either the end of this year or after New Years 2015. There are the tax extender bills to be extended (or lost) like bonus depreciation, the teacher $250 supply deduction and the direct IRA charitable deduction for those 70 1/2 without having to pick it up as taxable income. This will probably result in a delay to the start of tax season again (what else is new?) So it will take longer to file an process returns. See this article in USAToday by Russ Wiles in The Arizona Republic for more information plus a list of year end tax saving ideas: http://www.usatoday.com/story/money/personalfinance/2014/11/17/tax-saving-tips/19158765/ What this will all mean is delay again, but things may go smoother next year as a Republican Majority may get things done sooner (or may take longer since one of their goals is comprehensive tax reform, which may be a whole new battle.) 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 Financial Musings: Is outliving your savings a fate worse than death?
Nowadays the fear of dealth is being supplanted by the fear of outliving your retirement money! Some people would rather die than outlive their investments. See this article in Reuters by Chris Taylor for the details: http://www.reuters.com/article/2014/11/12/us-retirement-savings-deathwish-idUSKCN0IW1VH20141112 This is the time to have realistic and achievable goals, then use them to gradually save some additional cash. If you are already retired, you may need to find a part-time job or adjust spending habits, but there are always options. 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: A Prepaid Debit Card for Your Teen?
So is a prepaid debit card a good idea for your teens? See this article about them in the Wall Street Journal by Alan Zibel – it lists some favorite cards and more information on the cards in general: http://echo4.bluehornet.com/ct/50609238:28439317229:m:1:2505976388:1AA531581E34A22FC7B2B1DB1F2326A6:r Advantages are spending limits and purchase monitoring. There can be various fees and other costs you have to weigh before choosing. There are also going to be some new protections on these cards in the near future. This can really get your kids budgeting much better in the future, and they can learn about finances by doing. 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