Let’s rewind to the 2013 tax filing season – the two medicare taxes were causing lots of higher income people to pay more in taxes and everyone was getting surprised by this (even though tax preparers were warning about this for months before.) Well, guess what? The tax is still here this year and going to cause people the same problems as last year. See this in Accounting Web by Julian Block for the details: http://www.accountingweb.com/article/friendly-reminder-medicare-surtaxes-increase-taxes-many/224233 This will not be going away for some time (but if the administration changes, anything is possible.) 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: When Can You Efile Prior Year 2013 and 2012 Returns?
If you have clients who are behind on their tax filings (or if you file your own return and have not filed a couple of years), good news; there are finally dates out there for when you can efile previous years returns. Intuit has notified me that you can efile back 2012 and 2013 individual tax returns with their products the same date the IRS will process 2014 efiled individual and business returns – January 20, 2015. You can actually efile business returns for 2012 and 2013 starting January 9, 2015. (All unfiled returns for 2011 and before are not eligible to be filed on the IRS efiling system now, so they have to be filed on paper and mailed to the IRS.) If you have any questions on this you can call or email me and we can discuss 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 Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Tax Musings of a Burbank CPA: Practitioners Expect a Better Tax Season.
Happy New Year and in my first blog of the year I will discuss a new survey by Accounting Today and Tax Pro Today that discusses tax practitioner outlook on the new tax season 2015. See the details in this post by Daniel Hood in Accounting Today: http://www.accountingtoday.com/news/tax-season/practitioners-expect-a-better-tax-season-73176-1.html Nearly half of practitioners feel optimistic on the tax season, while less than 20% feel it will be worse. If my experience is any criteria so far, it will definitely be busy and more profitable. So ifyou have a preparer, make sure that you call them early to make appointments, as things look to be busy. 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