There are certain rules in renting out a vacation home that if followed can actually get you tax free income. See this posting on MarketWatch in The Wall Street Journal by Laura Saunders: http://online.wsj.com/news/articles/SB10001424052702303379204577476533937293906?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303379204577476533937293906.html The final verdict is: learn the rules, follow them and possibly save some taxes! 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 Has been Featured On https://twitter.com/bstonercpa
Musings of a California CPA: A Window May Be Opening for Change in Tax Code?
There has always been talk of rewriting the federal tax code, doing away with deductions, lowering tax rates, on and on and on. This article in the New York Times by Floyd Norris touches on some changes in the tax committees in the House of Representatives and the Senate that could actually make sweeping changes in the tax code, if not a large possibility, at least not a pipe-dream: http://www.nytimes.com/2014/01/17/business/economy/a-window-for-real-tax-reform.html?ref=business&_r=0 The only thing with these types of notions is that even if these committee leaders actually push something on to the floors of Congress, getting it passed and reconciled and then getting the President to sign it is something else again. It makes a good news story, though! 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 Has been Featured On https://twitter.com/bstonercpa
Funny Musings of a CPA: Abbott & Costello – “Two Tens for a Five”
So I promise this will be the last funny accounting video until after April 15, but I saw this Abbott and Costello video and realized this is how all taxpayers feel around this time every year. You know, the IRS takes and takes, and then we give it to them, too! Anyway let the boys explain the fuzzy math to you: http://www.youtube.com/watch?v=f7pMYHn-1yA Now aren’t you glad this stuff happens only once a year (or 4 times a year if you pay estimates? Or every pay period if you have taxes withheld?)? Remember to tell your kids what they have to look forward to! 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 Has been Featured On https://twitter.com/bstonercpa