Well, the courts have ruled that the IRS doesn’t have the authority (at this time) to regulate tax preparers. This means it is up to you to screen preparers and find one you can count on! See this article in MarketWatch in The Wall Street Journal by Jonnelle Marte to find ways to ensure you don’t get an unqualified preparer: http://www.marketwatch.com/story/can-you-trust-your-tax-preparer-2014-02-14 So now you have all the tools to find yourself a great preparer, especially if you read my blogs! (hahaha.) 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 Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa
CPA Tax Musings: IRS Reminders about Tip Income
Remember, if you work in an industry where you get tips, you are supposed to report them on your income taxes. See this posting from the IRS reminding you about tip income: http://content.govdelivery.com/accounts/USIRS/bulletins/a60ebb?reqfrom=share So now you know everything about tips. One other thing to remember; at most restaurants, tips are automatically put in a separate box on your W2 at the end of the year; there is a percentage calculation the IRS requires them to make and put that calculated amount down. But also you should be a good soldier and put down all your tips on your taxes, especially if they are more than the amount on your W2. (If you actually got less, too bad; that calculated amount is kind of a floor – maybe you need to get a job that pays better tips; you are definitely getting below the average.) 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 Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a CPA: Four Good Reasons to Direct Deposit Your Refund
The IRS has come out with a list of four reasons to direct deposit your refund – see this link to let the IRS talk you into sticking your tax overpayment directly into your checking or savings account: http://content.govdelivery.com/accounts/USIRS/bulletins/a60f10?reqfrom=share So now you have the reasons the IRS tells you to use direct deposit; here is the number one reason they want you to do it – the fact they can save money electronically depositing your refund instead of printing and mailing you a check (with budget reductions, you will make Uncle Sam very happy if you use direct deposit!) 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 Download my business app Available for IPhone and IPad: https://itunes.apple.com/us/app/briantstoner/id810483959?ls=1&mt=8 Available for Android: https://play.google.com/store/apps/details?id=com.app_briantstoner.layout&hl=en Has been Featured On https://twitter.com/bstonercpa