The answer depends on a number of factors. See this posting by Eva Rosenberg (TaxMama.com) in Equifax Finance Blog: http://blog.equifax.com/tax/should-i-buy-or-lease-a-car/ To save money it is cheaper to buy a higher quality car and drive it a long time (or maybe slightly used), but leasing a new car every three to five years will give you a higher tax deduction most of the 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 https://twitter.com/bstonercpa
IRS Releases Details on PTIN Holders
The IRS has released data on what type of designation holds Preparer Tax Identification Numbers, or PTINs. Check out this posting below by Daniel Hood in AccountingToday to see the breakdown between CPAs, EAs, Attorneys and ‘other’: http://www.accountingtoday.com/news/irs-releases-details-on-ptin-holders-68272-1.html?ET=webcpa:e9385:204199a:&st=email You will notice that CPAs lead the field. The interesting thing is there are over 280,000 PTINs that are not listed in here or the IRS Website: http://www.irs.gov/Tax-Professionals/Return-Preparer-Office-Federal-Tax-Return-Preparer-Statistics They all may be Registered Tax Return Preparers (PTRPs) or maybe something else. A mystery, isn’t 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 https://twitter.com/bstonercpa
IRS Suspends Tax Refunds and Tax Court Closes during Government Shutdown
The IRS will be shutting down some services and functions, including issuing tax refunds. See this article in AccountingToday by Michael Cohn for more details: http://www.accountingtoday.com/news/IRS-Suspends-Tax-Refunds-Tax-Court-Closes-Government-Shutdown-68228-1.html?ET=webcpa:e9359:204199a:&st=email It is interesting that the IRS encourages you to keep filing returns and paying taxes even though they will not refund you your own money you overpaid in taxes! On the bright side, Tax Court is closed and all audit meetings have been suspended. 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 https://twitter.com/bstonercpa