Holy Audit, Batman, On their corporate blog H & R Block was comparing Batman and Spiderman lifestyles but miscalculated Bruce Wayne’s taxes. Imagine what other mistakes they make? Here is an article (with a link to the company blog, since fixed) by Janet Novack in Forbes:http://www.forbes.com/sites/janetnovack/2012/07/15/batman-faces-dark-night-with-irs-if-he-takes-hr-blocks-tax-advice/?goback=%2Egde_90627_member_134936977Just a note to all the other superheroes out there, it could happen to you, too!Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
Ernst & Young Report Argues against Raising Taxes on High-Income Taxpayers
Ernst & Young, one of the big 4 National accounting firms, has put out a report arguing against raising income taxes on high income taxpayer because it will cost jobs (duh, since a lot of high income people are small businessmen who hire people). Here is the report in an article in Accounting Today by Michael Cohn:http://www.accountingtoday.com/news/ernst-young-report-tax-cuts-upper-income-boehner-obama-63323-1.html?ET=webcpa:e2720:204199a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_071812Higher taxes can possibly mean the difference in these employers hiring that one extra person or getting by with less employees (why don’t people see that?) Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
Remember to Get That Donation Letter!
Please! If you donate over $250 in cash or non-cash items to a charity, make sure you get the letter from the charity detailing and acknowedging the donaton. If you don’t have it and are audited, you are sunk! See this article about a lost deduction of $2,Million dollars plus a 20% negligence penalty on top of the regular tax, penalty and interest in SmartMoney by Bill Bischoff:http://www.smartmoney.com/taxes/income/tax-rules-for-deducting-donations-1342043028507/Always remember to get that letter or you will regret it!Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035