The answer depends on a number of factors. See this posting by Eva Rosenberg (TaxMama.com) in Equifax Finance Blog: http://blog.equifax.com/tax/should-i-buy-or-lease-a-car/ To save money it is cheaper to buy a higher quality car and drive it a long time (or maybe slightly used), but leasing a new car every three to five years will give you a higher tax deduction 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 https://twitter.com/bstonercpa
IRS Releases Details on PTIN Holders
The IRS has released data on what type of designation holds Preparer Tax Identification Numbers, or PTINs. Check out this posting below by Daniel Hood in AccountingToday to see the breakdown between CPAs, EAs, Attorneys and ‘other’: http://www.accountingtoday.com/news/irs-releases-details-on-ptin-holders-68272-1.html?ET=webcpa:e9385:204199a:&st=email You will notice that CPAs lead the field. The interesting thing is there are over 280,000 PTINs that are not listed in here or the IRS Website: http://www.irs.gov/Tax-Professionals/Return-Preparer-Office-Federal-Tax-Return-Preparer-Statistics They all may be Registered Tax Return Preparers (PTRPs) or maybe something else. A mystery, isn’t it? 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 https://twitter.com/bstonercpa
Banks abandon mortgage preapprovals
So it looks like the bank preapproval, which can level the playing field of a buyer getting a potential mortgage versus an all cash buyer, is becoming a thing of the past. See this article in MarketWatch and The Wall Street Journal by AnnaMaria Andriotis: http://www.marketwatch.com/story/banks-abandon-mortgage-preapprovals-2013-10-02 The big banks are still mostly doing prequalification, which isn’t in writing and is only good for ninety days. This might not make up the difference with an all cash buyer competing for the house you want. 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 https://twitter.com/bstonercpa