The Senate Finance Committee has recommended they start tax reform with no tax breaks at all, then have other Senators make suggestions on tax breaks to add. This isn’t going to be pretty. See this posting in AccountingToday by Michael Cohn for more details:http://www.accountingtoday.com/news/Senate-Finance-Leaders-Offer-Blank-Slate-Approach-Tax-Reform-67276-1.html?ET=webcpa:e7311:204199a:&st=emailGee when the Senators are done adding suggestions, maybe the tax code will be larger than it is now!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
Homeowner tax breaks not as great as you think
This article by Bill Bischoff in the Wall Street Journal Market Watch brings up the sometimes forgotten standard deduction and alternative minimum tax in conjunction with a new home purchase, which can reduce tax deductions that you think you will get when you buy the home:http://www.marketwatch.com/story/homeowner-tax-advantages-not-as-great-as-you-think-2013-06-25Just remember that this could impact how much home you can afford, so you better be aware of 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
When ‘free’ credit report isn’t free
This article by Claudia Buck in The Sacramento Bee is a great summary of all these ‘free’ sites that will get you on credit monitoring services that can charge $30 a month if you don’t jump through the hoops:http://www.sacbee.com/2013/06/23/5515750/claudia-buck-when-free-credit.htmlI recently went to ‘freecreditreport.com’ where if you don’t opt out in 7 days they will nail you for these fees. I also tried the www.annualcreditreport.com site and it seems to work ok.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