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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 →

Posted in Frank's Corner | Tagged |

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 →

Posted in Corporate, Frank's Corner, Individual | Tagged |

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

Posted in Frank's Corner |

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 →

Posted in Frank's Corner |

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 →

Posted in Corporate, Frank's Corner, Individual |

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 →

Posted in Frank's Corner |

January 2009

Operating Your S Corporation Tax traps Many clients operate their business as an S corporation. Corporations exist in part to shield the personal assets of shareholders from liability for the debts or actions of a corporation. Chances are you are … Continue reading →

Posted in Corporate, Frank's Corner |

November 2008

U.S. Citizens Living Abroad Income and Housing Exclusions   The United States is one of just a few countries that taxes the worldwide income of its citizens, resident aliens, and domestic corporations, without regard to its source. Under a law … Continue reading →

Posted in Frank's Corner, Individual |
 
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