With tuition costs going up and incomes coming down, people are borrowing for college more than ever. Some unconventional methods have joined the normal borrowing. See this article in The Wall Street Journal by Annamaria Andriotis:http://online.wsj.com/article/SB10000872396390443295404577545371701429782.htmlThese methods also have some risk but it is worth it when junior becomes a doctor or a lawyer (or gets a Liberal Arts Degree).Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
IRS Audited Mitt Romney In The Past
In this article in Accounting Today by Michael Cohn, Mitt Romney has said he has been audited in the past and implied his tax preparer did a good job, so I assume he didn’t owe any additional taxes:http://www.accountingtoday.com/news/irs-audited-mitt-romney-63452-1.html?ET=webcpa:e3774:204199a:&st=emailOne point Romney made in the article was that he paid what was legally due, so he is following the most important tax planning strategy – don’t pay the government anymore taxes than you are required to.Call me or email me if you want to discuss this or think you pay too much tax.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
Trying to Bank ‘The Unbanked’
Over 1 million households in California and 9 million across the nation are ‘The Unbanked’. They don’t have a checking or savings account and usually use higher cost ways to pay bills and save (try the mattress). Banks are creating programs to get these people in the banking system again. (They claim they are making things easier, but I think they also smell more bank charges.) See this article by Claudia Buck in The Sacramento Bee to learn more:http://www.sacbee.com/2012/07/29/4667944/claudia-buck-new-help-for-the.htmlOne item the article doesn’t mention for reasons why people stay out of the system – they may owe taxes or child and spousal support. Good luck getting them to leave ‘The Unbanked’.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035