If you owe the Social Security Administration an overpayment of social security benefits this year, you are in luck. Social Security will no longer seize income tax refunds to repay these debts. See the details in this article in SFGate by Stephen Ohlemcher: http://www.sfgate.com/news/politics/article/Social-Security-won-t-seize-tax-refunds-to-6010047.php Apparently some of these debts were from decades ago when beneficiaries were children. When members of Congress started complaining about this, the acting Social Security Commissioner suspended the program. Just remember that these debts are still out there and will be collected when beneficiaries are starting to collect Social Security themselves. 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 Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Burbank CPA Musings: 5 things to do now to increase your tax refund
There are some last minute items you can do to cut your taxes and refund additional money. Here is a list of five that could save some you some cash. See this list compiled by Erika Rawes in Cheat Sheet through USA Today to get some help: http://www.usatoday.com/story/money/personalfinance/2014/12/21/cheat-sheet-tax-refund/20627011/ This list is worth a look to see if you can reduce your tax liability this year and get some tax dollars back. There may be more things you can do before year end to cut your taxes. Call or email me and maybe we can use some of these items to get a bigger refund from the IRS and your state. 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 Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Burbank CPA Financial Musings: Online Deals for Holiday Shopping: Buyer Beware
This time of year there are thousands of supposed ‘deals’ for every item under the sun. The problem is that the ‘deal’ may cost you more than if you shop around a little. See this article in the New York Times by Farhad Manjoo about how these advertised savings may not save anything at all: http://www.nytimes.com/2014/12/11/technology/personaltech/online-deals-for-holiday-shopping-buyer-beware.html?_r=0 Sometimes looking at a couple of advertised deals should only be the starting point. We got a great deal on a Christmas gift for my daughter by checking online prices then looked at an in store price – adding a 50% store coupon saved us $25 over buying it online. Sometimes a little effort can really save some money. 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 Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa