If you are starting a new business, the IRS has a list of things to consider before the final setup. Click on the link below and see what the Service has to say: http://content.govdelivery.com/accounts/USIRS/bulletins/c5734b?reqfrom=share While not all the tips are directly tax related, they can indirectly influence taxes; the type of entity you choose for your business may affect the taxes you pay with it. Choosing particular health care situations can increase or decrease taxes. You get the idea. 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
CPA Tax Musings: House Passes Bill Making Charitable Deductions Permanent
The House has passed a bill making certain charitable deductions that have to be renewed permanent. See the total breakdown in this post in AccountingToday by Michael Cohn: http://www.accountingtoday.com/news/government_news/house-passes-bill-making-charitable-deductions-permanent-71394-1.html In addition to some items for exempt organizations and food banks, two items of interest is permanent extension of the direct donation from an IRA to a charity without income tax situations (have to pick up income, then take a tax deduction on Schedule A) and allowing people to deduct charitable contributions made through April 15 in the previous calendar year (like IRA deductions.) That allows more tax planning after the fact, always a good thing. 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 Tax Musings: Special Tax Benefits for Members of the Armed Forces
Members of the Armed Services have some special items in the form of exempt income, deductions and credits that can save some taxes. See this IRS tip below on Armed Forces tax benefits: http://content.govdelivery.com/accounts/USIRS/bulletins/c39447?reqfrom=share It is good that men and women in the Armed Forces have some special tax savings considering all they do for our safety. 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