The Senate Finance Committee has recommended they start tax reform with no tax breaks at all, then have other Senators make suggestions on tax breaks to add. This isn’t going to be pretty. See this posting in AccountingToday by Michael Cohn for more details:http://www.accountingtoday.com/news/Senate-Finance-Leaders-Offer-Blank-Slate-Approach-Tax-Reform-67276-1.html?ET=webcpa:e7311:204199a:&st=emailGee when the Senators are done adding suggestions, maybe the tax code will be larger than it is now!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
Homeowner tax breaks not as great as you think
This article by Bill Bischoff in the Wall Street Journal Market Watch brings up the sometimes forgotten standard deduction and alternative minimum tax in conjunction with a new home purchase, which can reduce tax deductions that you think you will get when you buy the home:http://www.marketwatch.com/story/homeowner-tax-advantages-not-as-great-as-you-think-2013-06-25Just remember that this could impact how much home you can afford, so you better be aware of it.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
Do Credentials Matter in Tax Prep?
Do credentials matter to the taxpaying public? It may depend on the complexity of the return and the expertise the taxpayer feels they need. See this post by Jeff Stimpson in AccountingToday:http://www.accountingtoday.com/taxprotoday/news/do-credentials-matter-in-tax-prep67222-1.html?ET=webcpa:e7293:204199a:&st=emailMy clients have told me they feel it is important to have a CPA prepare their personal and business returns. Some know about EAs, some don’t. 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