Phoenix Accountant | Tax Savers Children are expensive, but at least they can help save a little bit off that tax bill at the end of the year. If you’re a parent, here are several tax benefits you should be on the lookout for this tax year. Dependents – In...
Phoenix Tax Prep | Get Tipped? Many employees who work at places that survive based on tips fail to accurately report the amount of tips they receive. What they fail to realize is that by not reporting all of your tip income, you actually are hurting yourself in the...
Phoenix Tax Accountant | Form 1095A? Taxpayers will have a whole new form to look out for this tax season. The Affordable Care Act is bringing several changes to the filing season this year and the one most taxpayers will notice is the form 1095A. You will receive...
Phoenix CPA | IRS and Social Media The IRS recently released the top ways for taxpayers to communicate and get help from the IRS by using social media. For taxpayers with smart phones, the IRS has its own app, IRS2Go, with many uses. Taxpayers can get refund status,...
Scottsdale Tax Prep | Fake Charities The Internal Revenue Service is warning taxpayers to be on the lookout for groups who are pretending to be legitimate charitable organizations in an attempt to attract donations from unsuspecting taxpayers. The IRS advises taking a...
Glendale CPA | IRS Penalty Relief The IRS has announced that they will provide relief from tax penalties taxpayers receive from an over payment they received from the premium tax credits for buying health insurance under the affordable care act. Notice 2015-09 allows...
Glendale Accountant | S Corp Officers The IRS is starting to scrutinize S-Corporations officer’s compensation to verify that they are taking what they believe to be a reasonable compensation. They are also starting to scrutinize the timing of the compensation....
Glendale Tax Prep | Real Estate Pro? Generally speaking, rental real estate is a passive activity to a tax payer even if they materially participate in the rental process. However, if the tax payer is a real estate professional, this income is no longer treated as...
Phoenix Tax Preparation | Tax Increases President Barack Obama is set to promote his new plan for wealth redistribution. He will unveil and discuss his plan during his State of the Union address tonight. The plan involves limiting the profits wealthy Americans can...
Scottsdale CPA | IRS Scam Warning The IRS recently published a list of potential scams taxpayers should be aware of. The most recent is an aggressive and sophisticated phone scam. The caller claims to be an employee of the IRS. These criminals sound very convincing by...
