So the judge refuses to stay his ruling against the IRS until the appeal is heard, but you are still required to have a PTIN and can take the RTRP test and CE on a voluntary basis. See this breakdown in Accounting Today by Michael Cohn:http://www.accountingtoday.com/news/Court-Modifies-Ruling-Invalidating-Tax-Preparer-Regulations-65585-1.htmlThis is probably the right call – if the court rules against someone, you shouldn’t be allowed to continue to do what you did until another court checks it out.Remember, 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
CPA Tax Musings: Investors get a tax break with early dividends
With the dividend tax rate raising in 2013, plus the 3.8% tax on investment income looming, some high income dividend recipients got a gift when many large companies paid dividends in 2012 rather than 2013. See this article in USA Today by Matt Krantz:http://www.usatoday.com/story/money/business/2013/01/24/early-dividends-founders-investors/1775173/Of course, small investors probably will not have much effect one way or the other, since taxpayers in the 10 and 15% tax brackets dont pay income taxes on qualified dividends.Remember, 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
CPA Financial Musings: A Financial Service for People Fed Up With Banks
Can a bank that is not a bank be a bank? (Whew!) This service, called Simple, is really not a bank in itself, but provides many of the same services, with more disclosure, than other regular banks, and will not charge customers fees. They don’t provide everything, but it is an interesting alternative! See this article about it in the New York Times by Jenna Wortham:http://www.nytimes.com/2013/01/09/technology/a-financial-service-for-people-fed-up-with-banks.html?pagewanted=1&_r=0Simple could have problems or it could be hugely successful, but you have to admit it is different! Remember, 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