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Accounting for Consignment Sales
Accounting for Consignment Sales: Manhattan CPA Terms: Consignor: The owner of the item (e.g., painting) to be sold. Consignee: The selling agent (e.g., gallery) who accepts from the consignor the item to be sold. According to accepted accounting and tax … Continue reading
Piercing Corporate Veil – CPA New York City
Piercing the Corporate Veil Are your personal assets at risk? Clients incorporate, in part at least, to protect their personal assets in the event their business is sued. However, attorneys who are successful in “piercing the corporate veil” of protection … Continue reading
Have You Received An Information Request From NY or NJ ?
Many states are scrutinizing tax returns! — particularly ones with large refunds — and are asking taxpayers for copies of their Form W-2 Wage and Tax statements in order to verify state and local tax withholdings. Employers must submit employee … Continue reading
New York CPA says – Beware of fake IRS communications
New York CPA says – Beware of fake IRS communications According to the IRS you should be aware that each year thousands of taxpayers receive suspicious e-mails, phone calls, faxes, or notices claiming to be from the Internal Revenue … Continue reading
Tax Scam Alert from your new york city accountant for small bussiness
Tax Scam Alert from your new york city accountant for small bussiness At the end of October. 2013 a client of mine received a telephone call from a person stating that he was an IRS agent and told my client … Continue reading
2014 Social Security and Medicare taxable wage limits and rates New York City CPA
Social Security and Medicare news from your New York CPA On Oct 30, 2013 the Social Security Administration announced an upward cost of living adjustment for the Social Security taxable wage limit. For calendar year 2014, the amount of earnings … Continue reading
accountingToday Article July 22, 2013
Former H&R Block Manager Sentenced to Year in Prison for Identity Theft The former manager of an H&R Block outlet has been sentenced to 12 …… http://www.accountingtoday.com/news/Former-HR-Block-Manager-Sentenced-Year-Prison-Identity-Theft-67486-1.html?ET=webcpa:e7438:417396a:&st=email By Michael Cohn of accountingToday
Hurricane Sandy 10% Rule New York CPA
In regards to the casualty losses resulting from Hurricane Sandy: Typically, the federal government will waive the “10 percent rule” for a Federally declared disaster which is what “Sandy” has been classified as. This has not been the case … Continue reading
January 2013 Tax Filing Notice
IRS Delays Acceptance of Tax Filings On Jan. 8, the Internal Revenue Service announced that it will begin processing individual income tax returns on Jan. 30 for the 2012 tax season. However, taxpayers filing 1040s that include certain … Continue reading
January 2013
Competing to Prepare Your Tax There are approximately 720,000 tax preparers who are competing to prepare your tax return for a fee. A breakdown of these preparers is as follows: (Approximate) Certified Public Accountants (About 40% of CPA’s prepare tax … Continue reading
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