Accounting
Tax Returns On Postcards?
The I.R.S will not be receiving postcard size Form 1040 tax returns this year. The 2018 prototype just didn’t work and had schedules with only one or two lines in postcard sized print on full pages. Besides cutting down more trees, most people didn’t see a cut in paperwork (but an increase). So, expect more…
Read MoreFebruary To Do’s
File FAFSA for 2018 as soon as possible to give application for the 2018 school year. Some school aid is given on a first-come basis Get a free credit report – there are more problems with the Equifax breach, check your credit. Go to annualcreditreport.com Check your property tax assessment, appeals are only in early…
Read MoreFBAR penalty could reach 150% of the account balance
The U. S. Dept. of Justice just announced a Florida district court jury found a U. S. Citizen failed to file required Reports of Foreign Bank and Financial Accounts (FBARS) on accounts worth $10,000 or more ruled a mere penalty of 150% of the bank account balance. No fooling, our Federal Government is out to…
Read MoreCheck Your Credit Report!
It is now mandatory for each of us to check our own credit report at least once per year. Individuals are stealing identities and misused your name and social security number. Please check your credit report from: www.annualcreditreport.com or call 1-877-322-8228 toll free Annual Credit Report Request Service P. O. Box 105281 Atlanta, GA …
Read MoreHiring your kid to work in the business
You could reap benefits from hiring your children to work in the family business. Don’t get greedy but you could reduce your income tax, fund a Roth IRA for the child, pay reduced or no payroll taxes and better yet have a potential business succession plan. Think of it, farmers have their kids work and…
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