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IRS Proposes New Registration of taxpreparers, this is good news!

By: Kerry Freeman EA Tax Planning Views: 2512 | Comments: 0 | Votes: 0

Kerry Freeman EA

IR-2010-1, The Internal Revenue Service kicked off the 2010 tax filing season today by issuing the results of a landmark six-month study that proposes new registration, testing and continuing education of tax return preparers. As part of the outreach effort, the IRS is providing tips to taxpayers to ensure they are working with a reputable tax return preparer. Mr. More

What Information should your Tax Preparer Disclose.

By: Kerry Freeman EA Tax Planning Views: 2986 | Comments: 0 | Votes: 0

Kerry Freeman EA

With many offices doing multiply services, Taxes, Insurance, Financial Products. What protection does the taxpayer have to the confidentially of his or her information.   Under the Internal Revenue Code (IRC) sec 6713, If any person who is engaged in the business of preparing, or providing services in connection with the preparation of a tax return. Mr. Mr. Mr. More

IRS to Require Paid Tax Prepaprers to be Licensed.

By: Kerry Freeman EA Tax Planning Views: 2505 | Comments: 0 | Votes: 0

Kerry Freeman EA

The Internal Revenue Service is working on new rules that could require paid tax preparers to be licensed to improve tax compliance and reduce fraud, IRS Commissioner Doug Shulman said Thursday. Eighty percent of taxpayers get help with their returns, either from paid preparers or computer programs, Mr. Shulman told a congressional subcommittee. Mr. Mr. and Liberty Tax Service. Rep. More

To File or Not To File

By: Kerry Freeman EA Tax Planning Views: 2392 | Comments: 0 | Votes: 0

Kerry Freeman EA

To File or Not To File  You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive. For example, a married couple both under age 65 generally is not required to file until their joint income reaches $17,900. Federal Income Tax Withheld. 2. Recovery Rebate Credit. 3. 4. 5. 6. More

It's not over till congress says it's over, Stimulus Rebates

By: Kerry Freeman EA Tax Planning Views: 2360 | Comments: 0 | Votes: 0

Kerry Freeman EA

Remember those economic-stimulus checks the government was handing out this year? Many taxpayers didn't qualify for the full amount -- or for any payment at all -- because their 2007 income exceeded a certain threshold. But many people who lost their jobs this year, or whose incomes fell for some other reason, will get a second chance next year, thanks to a little-noticed tax-law twist. More

Act Now to Make 2008 Less Taxing

By: Kerry Freeman EA Tax Planning Views: 1396 | Comments: 0 | Votes: 0

Kerry Freeman EA

Act Now to Make 2008 Less Taxing What you don't do by the end of this year could end up costing you plenty next year. A combination of market forces and the phasing out of certain tax benefits makes it extra-important to grab every tax advantage you can right now. How can that be? The net effect is that fund shareholders get hit with a taxable distribution. That's a big savings. Mr. More

How protected is your personal tax information?

By: Kerry Freeman EA Tax Planning Views: 2310 | Comments: 0 | Votes: 0

Kerry Freeman EA

How protected is your  personal tax information?   It is tax season and you have all your records tied up in files and boxes and you drag them to you tax preparer. But what does that person due to keep your personal information safe? Identity theft is at record levels across the nation. Not all tax preparers are equal and some are down right crooks. Mr. Mr. More

Moving expense can save you on taxes.

By: Kerry Freeman EA Tax Planning Views: 4252 | Comments: 0 | Votes: 0

Kerry Freeman EA

Moving expense can save you on taxes. With so many people moving in and out of Phoenix, many people wonder if there is any tax saving with the move. Kerry Freeman, EA of the Central Arizona Chapter of Enrolled Agents (CACEA) shows you ten things you need to know about moving expenses. But no two moves are alike, and there are several tests you must meet to claim the deductions. Mr. More

Independent contractor VS. Employee

By: Kerry Freeman EA Tax Planning Views: 2534 | Comments: 0 | Votes: 0

Kerry Freeman EA

Independent Contractor vs. Employers who misclassify workers as independent contractors can end up with substantial tax bills as well as penalties for failing to pay employment taxes and failing to file required tax forms.  Workers can avoid higher tax bills and lost benefits if they know their proper status. The address of the official IRS governmental Web site is www.irs.gov. More

When is the Dog Deductible?

By: Kerry Freeman EA Tax Planning Views: 36165 | Comments: 2 | Votes: 1

Kerry Freeman EA

  Telling the IRS that your dog ate your return won’t get you off the hook for paying your 2006 federal income taxes, due April 17 this year. And even though she depends on you for all of her support, you are really asking for trouble if you try to claim the pooch as a dependent.   What about those animals that provide a real service to businesses? More