Saw this article in Accounting Today where an H & R Block Manager in Van Nuys used previous tax client data to prepare fraudulent tax returns and use H & R Block debit refund cards to take almost $10,000 in cash from them (there si probably more.) While you can’t directly blame Block directly, there is obviously a breakdown in their internal procedures and security when something like this happens.Here is the article by Michael Cohn:http://www.accountingtoday.com/news/HR-Block-Manager-Arrested-Identity-Theft-Tax-Clients-62102-1.html?ET=webcpa:e2337:204199a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_032612Sometimes it is better to be small working with people you trust.Remember, You can count on us to count for you!
Brian’s Tax Musings – New House bill gives 20% corporate deduction
Here is an article by Marielle Segarra in CFO about a new corporate tax deduction for companies with less than 500 employees:http://www3.cfo.com/article/2012/3/growth-companies_house-bill-would-cut-small-biz-taxesRemember, You can count on us to count for you!
Brian’s Tax Musings – How much Home Equity interest is deductible?
You have a maximum mortgage interest deduction on Schedule A of $1,100,000 of debt – how much can be home equity loan interest? You can deduct interest on up to $100,000 of home equity indebtedness each year; the rest of the mortgage debt has to be acquisition indebtedness. What is that? I will talk about that another day.Any questions? Call me at 818-317-6035 or email me at bstonercpa@sbcglobal.net and ask.Remember, You can count on us to count for you!