While a lot of the extension bills from 2013 have not been extended for 2014 by Congress (yet), making some tax planning situations a bit murky, there are still some standard tax planning items to be done before the end of this year. See this post by Roger Russell in Accounting Today for the details: http://www.accountingtoday.com/news/tax-planning/tax-planning-for-2015-71668-1.html Still waiting on bonus depreciation and R & D credits among other items to be extended, but taking advantage of this list will help cut taxes. Make sure the planning is done for most of this before year end, as you can only take advantage of some of these at that time. 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: Tax Revenues Still On Pace To Break Records In 2014
Here is some good news on the government deficit front: tax revenues are up and government spending is down! There is still a big deficit, but it is getting a little smaller. This article in Forbes by Kelly Phillips Erb gives the details year to date: http://www.forbes.com/sites/kellyphillipserb/2014/08/14/tax-revenues-still-on-pace-to-break-records-in-2014-as-budget-deficit-shrinks/ While good news (sort of) it still means the government has a long way to go before we actually have a surplus in revenue vs. spending (last time was 2001). Thanks Kelly. 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: Six Tips for People Who Owe Taxes
Do you owe taxes this year, think you may owe (if you are on extension, for instance) or think you may owe next year? Here are some tips from the IRS for people who owe taxes to either pay quickly, extend the payments if needed or try to reduce the outstanding tax bill: http://content.govdelivery.com/accounts/USIRS/bulletins/c98c70?reqfrom=share These are general tips that work for most people; if you have a more complex situation you should probably find an expert in this type of tax resolution. These professionals specialize in working with the IRS to try and get your tax bill managed. I know some of these experts if you want a referral. 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