tag:blogger.com,1999:blog-64624953765848052812024-02-19T08:10:32.040-05:00ASK RALPHWelcome to the Ask Ralph Blog! Feel free to post your question or comment. Ralph Estep, Jr., of Saggio Accounting Services will be posting great items of interest. Feel free to ASK Ralph a question!Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.comBlogger306125tag:blogger.com,1999:blog-6462495376584805281.post-27287944997813816812014-07-27T18:53:00.001-04:002014-07-27T18:53:03.118-04:00A Great Opportunity<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnm-dSoWUOhkHCPrj7n1Oo3M_PIY4qwCCkpQI75AuCtoa4OhoaQuvxSW4YWE8O7Y2YBB7sp91yK8ASsskXgybJ9jc5qtaYcdafZRYKnFbeYMPbV5VWGV9anU7j-DzuLxkxJajmhDo4cWg/s640/blogger-image--415930848.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnm-dSoWUOhkHCPrj7n1Oo3M_PIY4qwCCkpQI75AuCtoa4OhoaQuvxSW4YWE8O7Y2YBB7sp91yK8ASsskXgybJ9jc5qtaYcdafZRYKnFbeYMPbV5VWGV9anU7j-DzuLxkxJajmhDo4cWg/s640/blogger-image--415930848.jpg"></a></div>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-91591394841573213362014-01-30T11:56:00.001-05:002014-01-30T11:56:31.663-05:00Change in “Responsible Party” Must Be Reported to the IRS<a href="http://www.aicpa.org/Publications/TaxAdviser/2014/January/Pages/clinic-story-06.aspx">Change in “Responsible Party” Must Be Reported to the IRS</a>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-80576473449634277292014-01-30T09:17:00.003-05:002014-01-30T09:17:47.809-05:00Pay for your Tax Preparation right from your Refund!<div class="p1">
<b>Here is a great product we are now offering our clients.</b></div>
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<b>Refund Transfer</b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUD8QWjM3HABuhEaGWLfXa4x_3_RaKNifHOaEyGxqxao-x8SxJM-pUWB14euhKHC_Ew4GyCcDFJZ9NiymTxcVqDP3iAsIFD66OSWdlyBb5zr3y3jLy4hLgsbVwaoaT1sL3Boex-oYQq3c/s1600/Refund-Transfer-Skyscraper.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUD8QWjM3HABuhEaGWLfXa4x_3_RaKNifHOaEyGxqxao-x8SxJM-pUWB14euhKHC_Ew4GyCcDFJZ9NiymTxcVqDP3iAsIFD66OSWdlyBb5zr3y3jLy4hLgsbVwaoaT1sL3Boex-oYQq3c/s1600/Refund-Transfer-Skyscraper.jpg" height="320" width="91" /></a>If you are expecting a tax refund, the Refund Transfer product is a convenient way to receive your refund amount. Whether you hire a tax professional to prepare your tax return or you prepare it yourself online, with the Refund Transfer you can simply pay with your refund, with tax preparation fees withheld from your refund amount.</div>
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<b>Why Use a Refund Transfer?</b></div>
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<b>Pay With Your Refund!</b></div>
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By selecting a Refund Transfer you can pay for tax preparation with your refund, with tax preparation fees withheld from your refund amount.</div>
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<b>As Fast as e-Filing</b></div>
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Selecting a Refund Transfer does not delay the speed of refund disbursement. Once the IRS accepts your e-filed return your refund is available when the IRS releases it - typically within 21 days according to the IRS website. Choose whether you want to receive your money via check, direct deposit or on a pre–paid debit card*. You receive your money upon IRS funding.</div>
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<b>How Does it Work?</b></div>
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<b>Tax Return is Prepared</b></div>
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Begin by either preparing your return online using an approved software company or hire a tax professional that is partnered with TPG. If you are expecting a refund you may select a Refund Transfer from TPG.</div>
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<b>Your Return is e-Filed</b></div>
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Your tax return (including our bank information) is e-filed to the IRS, and the IRS is instructed to route the refund through our bank. </div>
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<b>Receive Your Refund</b></div>
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Once we get your refund, TPG takes out all associated fees, giving you the balance of the refund amount either as a check, direct deposit or on a pre-paid debit card (check for availability).</div>
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The Refund Transfer offers a convenient and secure payment option that is not available to many taxpayers without using a tax refund-related bank product. If you don’t have a bank account, the Refund Transfer gives you access to the same benefits as taxpayers that have bank accounts. If you just want an alternative to paying up-front with cash or a credit card ask your tax preparer about the Refund Transfer.</div>
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<i>*This card is issued by MetaBank™, member FDIC pursuant to a license from Visa U.S.A. Inc. TPG is a registered ISO of MetaBank.</i></div>
Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-28610524811798477002014-01-25T21:42:00.001-05:002014-01-25T21:42:19.780-05:00Congratulations Carson Long<div><span style="font-family: 'Helvetica Neue Light', HelveticaNeue-Light, helvetica, arial, sans-serif;">My son Ryan Estep is a sophomore at the Carson Long Military Academy in New Bloomfield Pennsylvania. He is a leader at the school and his drill team today won a major competition placing first in all categories and will be heading to a national competition in New York next month. I am very proud of my son and his teammates. Here is a photo of him accepting the first place award.</span></div><div><br></div><div>For more information about the oldest American military boarding school visit carsonlong.org. We are also planning an open house in the Delaware area this summer if you are interested in enrolling your son in a school which will change his life and develop leadership. </div><div><br><div><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTwAWR2pQIJ6rUGZlMcRsz5YbI3GM9RlcN8NX7gYhHOJ9eRV-HUtx7DYd7nCWfm0PsuUIIR5BAHQzyiBOT1uTEPWRfsBp0vDvm9HgafdviE-NQojWmGQbG40SJj2_JK_xHbU6QEXP5M3E/s640/blogger-image--62829101.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTwAWR2pQIJ6rUGZlMcRsz5YbI3GM9RlcN8NX7gYhHOJ9eRV-HUtx7DYd7nCWfm0PsuUIIR5BAHQzyiBOT1uTEPWRfsBp0vDvm9HgafdviE-NQojWmGQbG40SJj2_JK_xHbU6QEXP5M3E/s640/blogger-image--62829101.jpg"></a></div><br></div></div>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-44093518026360611162014-01-22T17:05:00.003-05:002014-01-22T17:08:17.283-05:00TaxBot - This is a must have APP that may save you thousands.<div class="p1">
I know your time and money are very valuable so I want to make this short . I have found a tax tracking system that I know will save you both time and money when it comes to keeping track of your receipts and mileage logs. </div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhC9tgDe_hikTxYECJma48w-uyYNUOTgbWNFItHeohI7W5McZhukCSfWl9F_UkPe5Qy1427anCIIznwj2BAWIdSlxMi6a8ivTwxu-loE1UdtI8XXD5WbixzMK3Nk3cUvk7dd2xrTC0qyRA/s1600/taxbot.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhC9tgDe_hikTxYECJma48w-uyYNUOTgbWNFItHeohI7W5McZhukCSfWl9F_UkPe5Qy1427anCIIznwj2BAWIdSlxMi6a8ivTwxu-loE1UdtI8XXD5WbixzMK3Nk3cUvk7dd2xrTC0qyRA/s1600/taxbot.png" /></a></div>
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You need accurate records more than ever!</div>
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As a business owner or independent contractor you are 4 to 6 times more likely to be subject to a IRS audit. The IRS has announced they want to hire over 10000 more agents once funding becomes available. More than every you need to make sure you have back up records for the deductions you are claiming. </div>
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This inexpensive, simple and easy solution is currently being used by tens of thousands of business people across North America. Please watch short video because I believe it will help me help you save big MONEY on your taxes.</div>
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Please take a look at the link below. I have secured a 50% discount for my clients on the service if you use the link below. </div>
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<span style="color: #ff2500; font-family: Arial; font-size: 12px;"><b><a href="https://spendingtracker.infusionsoft.com/go/2pnsa/a7799/">https://spendingtracker.infusionsoft.com/go/2pnsa/a7799/</a></b></span>
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Sincerely,</div>
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Ralph V. Estep, Jr.</div>
Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-72683363619946845632013-12-24T11:05:00.002-05:002013-12-24T11:05:53.455-05:00IRS announces automation of taxpayer resources, start of business filing season <div class="p1">
<b>IRS announces automation of taxpayer resources, start of business filing season </b></div>
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By Sally P. Schreiber, J.D. </div>
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December 23, 2013 </div>
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The IRS announced on its website that, beginning in 2014, it will stop providing a number of taxpayer assistance services in person or over the phone and will shift those services online. The move is designed to free up IRS employees to help taxpayers deal with issues, such as identity theft, that cannot be resolved through other avenues. The changes are being made in the following areas: (1) tax return preparation, (2) transcript delivery, (3) tax law assistance, (4) refund inquiries, (5) employer identification numbers (EINs), and (6) the Practitioner Priority Service.</div>
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<b>Return preparation:</b> In recent years, the IRS has provided limited tax return preparation services at its walk-in offices. There have been restrictions on where and when the help is offered and the IRS has required taxpayers to have income below the earned income tax credit thresholds to get help. This help will be further reduced beginning next year, as taxpayers are directed to the more than 13,000 volunteer tax preparation sites instead of the 250 IRS walk-in offices. The IRS also noted that Free File is available to taxpayers on the IRS’s website. </div>
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<b>Transcript delivery:</b> Early in 2014, the IRS will debut its Get Transcript service, which will allow individual taxpayers to use their Social Security numbers to view and print a copy of their tax transcript. Get Transcript will be available for the following types of transcripts: tax account, tax return, record of account, wage and income, and verification of nonfiling. Taxpayers will still be able to request that a transcript be mailed to their address of record using the online tool or sending in Form 4506T, <i>Request for Transcript of Tax Return</i>. </div>
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<b>Tax law assistance:</b> Most tax law questions the IRS receives during filing season are basic questions such as who qualifies as a dependent and who can take an exemption. The IRS will continue to answer these types of questions, but it will refer more complex questions to resources on the IRS website. </div>
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<b>Refund inquiries:</b> The IRS says the most common questions taxpayers ask are related to the status of a refund. The IRS notes that for the first 21 days after a return has been filed electronically or for six weeks after paper filing, taxpayers should check the status of their refund on the IRS’s online tool, “Where’s My Refund?” Customer service representatives will be able to help only those taxpayers who filed electronically at least 21 days prior (six weeks or more in the case of a paper return) or who are directed to a representative by the Where’s My Refund? tool. </div>
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<b>EINs:</b> According to the IRS, the EIN Online Assistant has been very successful, with more than 4 million requests processed per year. Beginning with the 2014 filing season, the IRS will handle all EIN requests using the Online Assistant, with only those with a previously assigned EIN being referred to an IRS representative. </div>
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<b>Practitioner Priority Service:</b> The Practitioner Priority Service, which provides a way to resolve taxpayer account issues, is intended for tax professionals, but has been increasingly used by taxpayers. The IRS announced that, starting in January, use of the Practitioner Priority Service will be restricted to tax practitioners who are trying to resolve issues for their clients.</div>
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<b>Filing season for business tax returns</b> </div>
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Last week, the IRS announced that the filing season for individual returns would <a href="http://www.blogger.com/News/20139306.htm"><span class="s1">begin Jan. 31</span></a>. This is later than the originally planned start date of Jan. 21 due to the government shutdown in October. Filing season for business tax returns, however, will not be similarly delayed. The <a href="http://www.irs.gov/uac/Newsroom/Starting-Jan.-13-2014-Business-Tax-Filers-Can-File-2013-Returns"><span class="s1">IRS announced</span></a> that on Jan. 13, 2014, it will begin accepting both paper and electronically filed business and excise tax returns, including Form 1120, <i>U.S. Corporation Income Tax Return</i>; Form 1120S, <i>U.S. Income Tax Return for an S Corporation</i>; Form 1065, <i>U.S. Return of Partnership Income</i>; Form 1041, <i>U.S. Income Tax Return for Estates and Trusts</i>; Form 720, <i>Quarterly Federal Excise Tax Return</i>; Form 940, <i>Employer’s Annual Federal Unemployment (FUTA) Tax Return</i>; Form 941, <i>Employer’s Quarterly Tax Return</i>; and Form 2290, <i>Heavy Highway Vehicle Use Tax Return</i>. </div>
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The IRS emphasized that this date does not apply to unincorporated small businesses that report their income on Form 1040 on Schedule C, <i>Profit or Loss From Business (Sole Proprietorship)</i>, Schedule E, <i>Supplemental Income and Loss</i>, or Schedule F, <i>Profit or Loss From Farming</i>, which are subject to the Jan. 31 delayed start. </div>
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—<b><i>Sally P. Schreiber</i></b><i> (</i><a href="mailto:sschreiber@aicpa.org"><span class="s2"><i>sschreiber@aicpa.org</i></span></a><i>) is a</i> JofA <i>senior editor.</i></div>
Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-53098872857522341882013-12-19T14:41:00.002-05:002013-12-19T14:41:42.348-05:00Great Letter from Jesus - I did not write this but it's right on point! Merry Christmas.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_Fpl9bmPcrmG4iegbuI04NHyDRGIfpvAGxl4rRzbBGlkuPvGY2OrO372h0wRKTTrrEwQ6B3eJg0XTCBPgc_xPrLNHM60gqIR2Po53p2OoP_v-qTe6U_t4fVnveOSJfWK40j80w1lKBu8/s1600/Christmas-Cross.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_Fpl9bmPcrmG4iegbuI04NHyDRGIfpvAGxl4rRzbBGlkuPvGY2OrO372h0wRKTTrrEwQ6B3eJg0XTCBPgc_xPrLNHM60gqIR2Po53p2OoP_v-qTe6U_t4fVnveOSJfWK40j80w1lKBu8/s320/Christmas-Cross.jpg" width="320" /></a></div>
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<i>Dear children,</i></div>
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<i>It has come to my attention that many of you are upset that folks are taking my name out of the season. Maybe you’ve forgotten that I wasn’t actually born during this time of the year and that it was some of your predecessors who decided to celebrate my birthday on what was actually a time of a pagan festival. No worries, I do appreciate the sentiment though and being remembered anytime.</i></div>
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<i>I don’t really care what you call the day. If you want to celebrate My birth just GET ALONG and LOVE ONE ANOTHER. Now, having said that, let Me go on.</i></div>
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<i>If it bothers you that the town in which you live doesn’t allow a scene depicting My birth, then just get rid of a couple of the Santas and snowmen and put up a small Nativity scene on your own front lawn. If all my followers did that there wouldn’t be any need for a Town Square scene, because there would be hundreds of them all around town!</i></div>
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<i>Please, stop worrying about the fact that people are calling the tree a “holiday tree” instead of a Christmas tree. It was I who made all trees. You can remember Me anytime you see any tree and at any time of the year. Decorate a grape-vine and leave it up all year if you wish and remember I am the true vine, and my Father is the gardener. I am the vine; you are the branches. If you remain in me and I in you, you will bear much fruit; apart from me you can do nothing.</i></div>
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<i>If you want to give Me a present in remembrance of My birth here is my “wish list”. Choose something from it.</i></div>
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<i>1. Instead of writing protest letters objecting to the way My birthday is being celebrated, write letters of love and hope to soldiers away from home. They are terribly afraid and lonely this time of year. I know, they tell Me all the time.</i></div>
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<i>2. Visit someone in a nursing home. You don’t have to know them personally. They just need to know that someone cares about them.</i></div>
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<i>3. Instead of standing by the water-cooler with your colleagues complaining about your boss and how stingy he was with the Christmas bonuses this year, why don’t you go into his office with a gift card and tell him that you’ll be praying for him and his family this year. Then follow-up. It will be nice hearing from you again.</i></div>
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<i>4. Instead of giving your children a lot of gifts they really don’t need, spend time with them instead. Tell them a story of My birth, and why I came to live with you down here. Hold them in your arms and remind them how much I love them!</i></div>
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<i>5. Pick someone who has hurt you in the past and forgive him or her.</i></div>
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<i>6. Instead of griping about a retailer in town saying “Happy Holidays”, be patient with the people who work there. Give them a warm smile and a kind word and even if they aren’t allowed to wish you a “Merry Christmas” that doesn’t keep you from wishing them one. Think about those who have to work over the holidays and bring them a plate of cookies to tell them you appreciate them for their hard work. Take it one step further…when you go out to eat after church on Sundays, rather than look down your nose at all the people who “missed church” because they had to work, when that waitress takes your order, pray for her and thank her for her service to you and then leave her a good tip…not the chintzy ones you have been leaving. My children should always be generous!</i></div>
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<i>7. There are individuals and whole families in your town who not only have no “Christmas Tree”, they have no presents to give or receive. If you want to make a difference this Christmas, support a local charity that provides clothes, food, and shelter to those who are homeless or who help families in crisis. Don’t just send them a cheque at Christmas either, support them year round. If you can’t afford to support them with a monetary donation, give them your time. Volunteering your time is just as helpful!</i></div>
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<i>8. Support a missionary, especially one who takes My Love and Good News to those who have never heard My Name.</i></div>
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<i>9. Finally, if you believe that I am the real “reason for the season”, how about spending more time with Me rather than spending time complaining about how commercial Christmas has become? Live every day like you believe that I am THE WAY, THE TRUTH and THE LIFE, and remember I am with you always!</i></div>
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<i>All My Love,</i></div>
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<i>Jesus</i></div>
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Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-36300074727283078502013-12-19T08:59:00.001-05:002013-12-19T08:59:18.520-05:00Tax Season Starts January 31<a href="http://www.accountingtoday.com/news/irs-sets-the-date-tax-season-starts-jan-31-69027-1.html">Tax Season Starts January 31</a>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-69985747736550245462013-12-08T08:28:00.001-05:002013-12-08T08:28:52.888-05:00Praise him today!<a href="http://youtu.be/yzqTFNfeDnE">http://youtu.be/yzqTFNfeDnE</a>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-81216279985869469002013-12-06T19:28:00.002-05:002013-12-06T19:28:28.066-05:002014 IRS MILEAGE RATESThe Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.<br />
Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:<br />
•<span class="Apple-tab-span" style="white-space: pre;"> </span>56 cents per mile for business miles driven<br />
•<span class="Apple-tab-span" style="white-space: pre;"> </span>23.5 cents per mile driven for medical or moving purposes<br />
•<span class="Apple-tab-span" style="white-space: pre;"> </span>14 cents per mile driven in service of charitable organizations<br />
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Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-5871500275785873022013-12-03T21:43:00.001-05:002013-12-03T21:43:23.882-05:00Insurance CancellationWell, I figured this would happen eventually. It's official, we received our health insurance cancellation notice in the mail. This is after the insurance company told me that they would not cancel my policy until my renewal next August. I figured this would happen so I already went out to the open market and found another policy for the family. Of course my current company is willing to give me a new policy, but the rates and deductible are a little higher. Well, in fact, they rate is tripled and the deductible has increased to $12,000 per year. Got to love the affordability of the Obama Care. I have yet to meet anyone who is saving money under this new scheme - must have heard wrong when the President said we could keep our current insurance and also we would see cost savings.<div><br></div><div>Here's the best part of all. For the past 8 years we have budgeted our medical expenses taking a hard look at each and every expense, seeking generic medications and always making a second thought of whether to go to the doctor. That all changes January 1, 2014. Since I am forced into a "better" plan, I plan to take full advantage of it from the very start. My deductible will only be $1800 for the year so it's going to be a race to get to my out of pocket maximum. I have already spoken to my Doctor and let them know that we will now require only brand-name medications, should probably get all those elective tests and when the sniffles hit on the weekends, here comes the Emergency Room. I just hope their are still doctors to meet my increased demand. If I have to pay for it, I will be using it.</div><div><br></div><div>Let the games begin!</div>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-60879781991145605432013-11-28T10:31:00.001-05:002013-11-28T10:35:13.230-05:00Happy Thanksgiving!On this day we give thanks for the many blessings we all have in our lives. I am thankful first to our Lord for loving us even as we are his enemy and the scourge of sin remains with us, but we have the blessed assurance that if we believe in him we will be washed white as snow when we stand before the father. I am thankful for our United States where the dreams of our forefathers still resound loudly throughout the streets of America and as we may never have a perfect union, we strive for life, liberty and the pursuit of happiness for all. I am thankful for my wife who has dedicated her life to me, our children, and our new little (well not so little) German Shepherds. Her love for us is a daily reminder of the commitment she made when we stood before God and vowed to love each other until we live no more. I am thankful for my sons who I cherish daily and though they may not realize it, I am in profound honor to be called their father and I strive each day to live up to the responsibility which God has placed in my hands. I am thankful for my family, who have shown me love and demonstrated christian discipleship in the home. I am thankful for my friends, my clients, my employees, and my neighbors. Today I give thanks to all and pray that The Lord of mercy and strength will sustain us all and wrap his loving arms around us and protect us from the storms of life until we reach those beautiful shores of roads paved in gold and worship in thunderous acclaim at the feet of the master. May almighty God bless you and keep you and may his face always shine upon you. Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-20694847623132242182013-11-11T10:53:00.000-05:002013-11-11T10:53:12.224-05:002014 Tax Deposit RequirementsWe have many clients receiving notices from the Internal Revenue Service in reference to the tax deposit requirements for 2014. Normally clients are required to make their federal tax deposits the 15th of the month following the payroll month, but when your annual tax deposits reach $50,000 in the look-back period, the IRS requires that taxes be paid semi-weekly. This means that tax deposits must be made within three business days of the posting of payroll. For example, if you have payroll posted to your employees on Friday, then your payroll taxes are due by Wednesday of the next week. These requirements are not negotiable and significant penalties may be assessed for not meeting the requirement. Please be on the look-out for these letters and forward to them as soon as possible.<br />
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If you not a client of Saggio Accounting+PLUS and have questions about payroll or payroll taxes, feel free to contact us for more information. As a full-service accounting firm, we prepare payroll in-house for our clients.Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-86416307210434586482013-11-07T08:49:00.002-05:002013-11-07T08:49:28.305-05:00Does your QuickBooks file take a long time to open?
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This is commonly caused by having multiple windows and/or reports open within QuickBooks which must be loaded each time you open your file. To speed up the time it takes to open your file, you can change your settings in your preferences to not save your Desktop View when exiting. Doing so will close all the open windows/reports you have open when exiting QuickBooks. <br />
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Closing all your windows/reports close on exit helps QuickBooks open quickly and prevents reports from becoming corrupt.<br />
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To change the setting in your preferences select Edit>Preferences>Desktop View. Select Don't save the desktop and click Okay.</div>
Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-39801968589482310032013-10-25T08:30:00.001-04:002013-10-25T08:30:15.755-04:00Obama Care - No Big SurpriseWell, we are in the midst of the roll-out of Obama care and I have personally been affected by the new law. I figured that my premiums would rise once the law was approved, but I have to admit that I was totally amazed at the increase in premium. I figured I would call my insurance company after October 1st to determine what I needed to do in reference to my insurance coverage moving into 2014. We started with this plan back in 2005, at that time we selected a high deductible plan to attempt to limit our monthly expense. I recall the premium being about $300 per month for our family plan with an annual deductible of $3500. This year, for the same coverage, our premium has risen to near $500 per month and our annual deductible is now $10,500.00. So here's the Obama care news for us - to keep the same level of coverage our monthly premium has risen to $1100 per month and the annual deductible is now $12,000. The increase represents an increase of over 110%. Sticker shock!<br />
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None of this comes as a surprise based on the basic review of Obama care. Insurance is a business where the carriers need to make a profit, so when they are forced to carry the costs of more covered services it's not shocking that the rates would need to increase, but to double the premium - that is just nuts!<br />
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I would try to shop my other options on the Obama care web site, but I have tried repeatedly to gain access to no avail - another big shock there. It's all rather pointless anyway since I have already seen some of the expected premiums and they are also higher. I personally have not spoken to anyone who has seen a decrease in their premium.<br />
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My advice to my clients and friends, better check with your insurance carrier or your employer and see where this is going to affect you. Better plan a change to your budget because I guarantee your costs are going up. You may want to consider this for budget planning for 2014.<br />
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Feel free to contact my office with any specific Obama Care questions as they relate to tax issues.Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-54088376096188168732013-10-24T14:34:00.001-04:002013-10-24T14:34:04.786-04:00Startup of the week / A tiny cloud computer can be yours for $45 - Start-up of the Week Israel News | Haaretz<a href="http://www.haaretz.com/business/start-up-of-the-week/.premium-1.553931#.UmloFy1IPEc.blogger">Startup of the week / A tiny cloud computer can be yours for $45 - Start-up of the Week Israel News | Haaretz</a>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-80277666195379415872013-10-24T08:41:00.001-04:002013-10-24T08:41:16.668-04:00Fire Prevention<div class="p1">
<b>October is Fire Prevention Month: All Is Not Lost If You’ve Lost Tax Records</b></div>
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by Claire Berlin | Oct 23, 2013 </div>
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Fire, flood, tornados, or your own unorganized closet: Any number of disasters can mean you can’t find tax documents when it’s time to file. </div>
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The National Society of Accountants (NSA) offers this list of important documents you should track and what to do if they should ever be destroyed or lost.</div>
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<b>Documents You May Need</b></div>
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Personal data such as Social Security numbers and dates of birth for yourself, spouse, and dependents; a child-care provider’s tax ID or Social Security number; and any changes to address, job title, phone number, etc.</div>
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Employment and income data such as forms W-2, K-1 and 1099; Employer Identification Numbers (EINs); alimony received and the Social Security number of the payor; and W2-G, 1099-MISC, 1099-G, 1099-SSA, 1099-INT, 1099-DIV, and 1099-B.</div>
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Homeowner/renter data, such as forms 1098, 1099-S, 1099-A, 1099-C or HUD-1; final escrow closing statements; property taxes paid; rent paid during the tax year and the landlord’s name, address and phone number; and lists and receipts for moving expenses.</div>
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Deductible items, such as forms 1098-E, 1098-T; alimony paid, including the amount paid and the name and Social Security number of the recipient; vehicle license fees from DMV renewals; letters from charities for cash contributions or a detailed log for non-cash contributions with the value of items donated, date donated, amount originally purchased for and date of original purchase; mileage logs and copies of reimbursements from employers; miscellaneous deduction receipts for such items as uniforms, union dues, investment expenses and job-hunting expenses; child-care expenses; and medical expense receipts.</div>
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Business, farm and rental information, such receipts or documentation for business-related expenses, inventory reports and payables and receivables ledgers; receipts for all major purchases such as machinery, equipment and furniture; business, farm or rental income and expenses; auto mileage logs; and documentation for self-employed health insurance premiums.</div>
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Taxes paid, such as estimated tax payments with the date and amount of each tax payment made; and state taxes paid.</div>
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It’s quite a list, and working with a tax preparer can help ensure protection of these and other records or speed their recovery if they’re lost.</div>
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<b>How to Retrieve Lost Documents</b></div>
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Despite your best efforts, documents are sometimes destroyed or lost. What do you do? Here’s some advice:</div>
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<b>Earnings Statements – </b>Copies of many wage statements can be secured from your employer. If you’ve misplaced your W-2, for instance, request another copy from your employer’s HR department as soon as possible (you may have to fill out a form to request the replacement). If you don’t receive your replacement W-2 even after reminding your employer, contact the IRS (800/829-1040) and have them prompt the company. You can also substitute <a href="http://www.irs.gov/pub/irs-pdf/f4852.pdf"><span class="s1">IRS Form 4852</span></a> and refer back to your last pay stubs to fill in needed information.<b> </b></div>
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Originals of the Form 1099 can go missing even easier than the W-2. You receive a 1099 from any company that paid you more than $600 during the tax year – and given the current economy’s love of freelance and contract work, some taxpayers may have more than a few 1099s to collect. Banks also send 1099s if account holders earn a certain amount in annual interest; many banks permit downloading 1099s from their customer service Web sites, and local branches also often issue copies.</div>
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<b>Past Tax Returns –</b> Last year’s tax return may be one of the easiest documents to recover. If you used a tax preparer, you can request it from that person. Or you can request a free transcript of your return (exact copies are $57) from the IRS by filing Form 4506 or 4506-t, by using the Service’s online “Order a Transcript” system (http://www.irs.gov/Individuals/Order-a-Transcript) or by calling the IRS (800-908-9946).</div>
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<b>Student Tax Forms –</b> Students’ tax forms, such as 1098-T forms or Tuition Statements, can be replaced. Schools often allow students to<b> </b>download an extra copy, and many will have a copy of your 1098-T online. Lenders are the best source for 1098-E Forms or the Student Loan Interest Statement, though if you paid less than $600 in interest, you will not be sent a 1098-E.</div>
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<b>Stock Statements –</b> Almost all holdings companies can help provide, via online, records of stock statements and cost-basis calculations (cost basis is an historical analysis and calculation to determine if a taxpayer who sold stock recognized a taxable gain or a loss in the sale). If you need a past stock price, Yahoo has an online research tool at <a href="http://biz.yahoo.com/r/"><span class="s1">http://biz.yahoo.com/r/</span></a>.</div>
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<b>Credit Card and Other Receipts – </b>Receipts are the bread-and-butter documentation of a tax year’s deductions, especially for the self-employed and taxpayers who have a supplemental business besides their regular job. Receipts – which come in a maddening variety of shapes and sizes of paper – also seem to be the trickiest to completely pull together come tax time.<b> </b></div>
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Technology and the Internet have made it much easier to recover receipts. If you can’t find a receipt for a certain expense, for example, see if you can use bank and credit card statements to prove the expense. The statements should show as many details as possible (recipient’s name, date, the amount) to maximize the validation of the expense as a deduction.<b> </b></div>
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Some businesses also may be willing to issue copies of receipts. Most banks can also quickly mail copies of past checks if you know the approximate date, if not the actual check number, of the expense.</div>
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If you paid the expense using a debit card, check with your bank to see if they offer a receipt-replacement feature with your card. A growing number of banks offer this largely unknown service to cardholders.</div>
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<b>Good Future Moves</b></div>
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Start working now to make next year’s document collection easier by preserving records with technology, knowing what to keep and what to toss, and consider hiring an experienced tax preparer who can archive your records for future reference.</div>
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Digitize receipts, tax returns and other important documents such as mortgage documents, property tax statements and acknowledgment letters from charities. Scan the documents as they come in and, if you’re worried about security on your hard drive, store the scanned documents on a thumb drive or a storage site such as Manilla.com or Dropbox.com. Most home tax-prep software also offers a feature for saving returns digitally. You can also snap photos of receipts with a smartphone, and some apps can then sort them as IRS-accepted images.</div>
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Keep, among other documents, all tax returns; records of your home’s purchase price and major home improvements for three years after you sell the home; records of stock and mutual fund purchases for as long as you own the stocks or participate in the mutual funds; Form 8606 (reporting non-deductible IRA contributions); and supporting tax documents for three years (six years if you have self-employment income). Also keep files with information on contributions and withdrawals from IRAs and 401(k) plans -- especially documents regarding nondeductible contributions, such as copies of IRS Form 8606, to avoid paying too much tax on withdrawals.</div>
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Toss most supporting tax documents (such as receipts) after three years; monthly bank and brokerage statements after you receive the year-end statements; ATM receipts and bank-deposit slips after they’re matched up with the monthly statement; pay stubs after matching them with W-2s. Shred all documents thrown out.</div>
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Sign up for online banking and bill paying, both of which create an electronic record of paid bills and banking documents.</div>
Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-74015436650434135552013-10-23T09:59:00.001-04:002013-10-23T09:59:00.543-04:00Tax Season Delay<div class="p1"><b>Filing season will be delayed, IRS says </b></div><div class="p2">By Sally P. Schreiber, J.D. </div><div class="p2"><br />
</div><div class="p2">October 22, 2013 </div><div class="p3"><br />
</div><div class="p3"><br />
</div><div class="p3">The IRS announced on Tuesday a delay of one or two weeks in the start of the 2014 filing season as a result of the 16-day government shutdown to allow adequate time for the IRS to prepare and test systems. The return filing start date was originally going to be Jan. 21, 2014, but the IRS said it will now start accepting 2013 individual tax returns no earlier than Jan. 28 and no later than Feb. 4. The IRS says it hopes to shorten the delay and will announce the official start date in December. </div><div class="p3">The government shutdown came at an inopportune time of year. Most of the work the IRS does to program, test, and deploy its return processing systems is done in the fall. “The adjustment to the start of the filing season provides us the necessary time to program, test, and validate our systems so that we can provide a smooth filing and refund process for the nation’s taxpayers,” Danny Werfel, the acting IRS commissioner, said in a news release. “We want the public and tax professionals to know about the delay well in advance so they can prepare for a later start of the filing season.”</div><div class="p3">No paper returns will be processed before the IRS begins accepting electronic filings. </div><div class="p3">Despite the delay in the beginning of filing season, the IRS also reiterated that the April 15 tax return filing and payment deadline is statutory and cannot be changed by the IRS but that six-month extensions to file can be obtained by filing Form 4868,<i> Application for Automatic Extension of Time to File U.S. Individual Income Tax Return</i>, electronically or on paper. </div><div class="p3">The IRS is apparently struggling to catch up after the shutdown. It says it received 400,000 pieces of correspondence during the shutdown, on top of the 1 million items that were already being processed. The IRS is urging taxpayers who need to contact it to wait if it is not urgent or to try to use automated systems on its <a href="http://www.irs.gov/"><span class="s1">website</span></a>. </div><div class="p3">The IRS <a href="http://www.irs.gov/for-Tax-Pros"><span class="s1">announced</span></a> on Oct. 17 that 2014 renewals of preparer tax identification numbers (PTINs) are also being delayed because of the government shutdown. The IRS will notify current PTIN holders when the renewal season will start.</div><div class="p3">This will be the second tax season in a row to have a delayed start. Last year’s filing season was significantly delayed because Congress passed the American Taxpayer Relief Act of 2012, P.L. 112-240, which contained many retroactive provisions, in January 2013 and the IRS needed time to update forms and program and test its processing systems. </div><div class="p3">—<b><i>Sally P. Schreiber</i></b><i> (</i><a href="mailto:sschreiber@aicpa.org"><span class="s2"><i>sschreiber@aicpa.org</i></span></a><i>) is a </i>JofA<i> senior editor.</i></div><div class="p2">.</div>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-77785884486492121192013-10-22T16:33:00.002-04:002013-10-22T16:33:47.346-04:00Updating to the New OSX Mavericks on the MacToday is the launch day for OSX Mavericks on the Mac, so I am doing the update. We will see if Apple can get this right the first time out of the box. I certainly have more confidence in this program than Obama Care.Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-44386356815943904482013-10-11T11:50:00.001-04:002013-10-11T11:50:41.642-04:00Very funny<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjps51-wfZWoll6BZHr5gSMHzBZ16C5CqNUJIIEbyg6fuJ6OsMLWU2hDdSpbRtsDhvJf6KKQUA0okRlCamWqt1Axx0pAhw_0U-KWx0G5qEFqZR4ruEtp8dJwIJUqcot7uza7-r8JcB-GiY/s640/blogger-image-367321640.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjps51-wfZWoll6BZHr5gSMHzBZ16C5CqNUJIIEbyg6fuJ6OsMLWU2hDdSpbRtsDhvJf6KKQUA0okRlCamWqt1Axx0pAhw_0U-KWx0G5qEFqZR4ruEtp8dJwIJUqcot7uza7-r8JcB-GiY/s640/blogger-image-367321640.jpg"></a></div>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-83490911661525045302013-10-03T20:23:00.001-04:002013-10-03T20:23:21.797-04:00Virtual Desktop on Chrome BookYou have to see this - virtual desktop on a Chrome BookAnonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-8237123620361221372013-08-28T07:55:00.001-04:002013-08-28T07:55:54.972-04:00Virtual DesktopIf you have never seen our Virtual Desktop, this is something you have got to try. Free 7 day trial when you go to www.virtualesuccess.comAnonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-2639258686929594912013-07-24T13:56:00.001-04:002013-07-24T13:56:13.598-04:00Simplified Home Office Deduction<iframe allowfullscreen="" frameborder="0" height="270" src="//www.youtube.com/embed/zfY9zSZw2dI" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-70401211147114138552013-06-05T16:51:00.001-04:002013-06-05T16:51:57.266-04:00Children and MoneyThe summer is a great time to teach your children the value of money. Let them start an allowance, but make them earn it and then make sure they cover all of their discretionary expenses. It will teach them the value of work and money at the same time. Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0tag:blogger.com,1999:blog-6462495376584805281.post-89998745671693784862013-06-05T16:15:00.001-04:002013-06-05T16:15:34.075-04:00Fwd: Status of Refund Issuance<div>Update from the State of Delaware<br> <br> <div>Ralph V. Estep, Jr.</div> <div>Saggio Management Group, Inc.</div> Sent from my iPhone <div><br> </div> </div> <div><br> Begin forwarded message:<br> <br> </div> <blockquote type="cite"> <div><b>From:</b> "Moffett-Batty, Angela (Finance)" <<a href="mailto:Angela.Moffett-Batty@state.de.us">Angela.Moffett-Batty@state.de.us</a>><br> <b>Date:</b> June 5, 2013, 4:04:22 PM EDT<br> <b>To:</b> Undisclosed recipients:;<br> <b>Subject:</b> <b>Status of Refund Issuance</b><br> <br> </div> </blockquote> <blockquote type="cite"> <div> <meta name="Generator" content="Microsoft Word 14 (filtered medium)"> <style><!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} @font-face {font-family:Tahoma; panose-1:2 11 6 4 3 5 4 4 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:12.0pt; font-family:"Times New Roman","serif";} a:link, span.MsoHyperlink {mso-style-priority:99; color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {mso-style-priority:99; color:purple; text-decoration:underline;} p.MsoAcetate, li.MsoAcetate, div.MsoAcetate {mso-style-priority:99; mso-style-link:"Balloon Text Char"; margin:0in; margin-bottom:.0001pt; font-size:8.0pt; font-family:"Tahoma","sans-serif";} span.BalloonTextChar {mso-style-name:"Balloon Text Char"; mso-style-priority:99; mso-style-link:"Balloon Text"; font-family:"Tahoma","sans-serif";} span.EmailStyle19 {mso-style-type:personal; font-family:"Calibri","sans-serif"; color:#1F497D;} span.EmailStyle20 {mso-style-type:personal; font-family:"Calibri","sans-serif"; color:#1F497D;} span.EmailStyle21 {mso-style-type:personal; font-family:"Arial","sans-serif"; color:#1F497D;} span.EmailStyle22 {mso-style-type:personal; font-family:"Calibri","sans-serif"; color:#1F497D;} span.EmailStyle23 {mso-style-type:personal; font-family:"Arial","sans-serif"; color:#1F497D;} span.EmailStyle24 {mso-style-type:personal-reply; font-family:"Calibri","sans-serif"; color:#1F497D;} .MsoChpDefault {mso-style-type:export-only; font-size:10.0pt;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --></style><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="1026" /> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1" /> </o:shapelayout></xml><![endif]--> <div class="WordSection1"> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">Dear Tax Preparer,<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">Y</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">ou </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">are </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">most</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">-</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">likely </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">already </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">aware that this year the IRS delayed opening their EFile System by a full week</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">. This delay </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">also put the Delaware Division of Revenue a week behind our normal start-up date. As a large number of Delaware returns are processed through the</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> IRS</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> system first</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> –</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> 68% this year</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> –</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> the average time to issue a </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">Delaware </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">refund has risen.<o:p></o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">As of June 3<sup>rd</sup></span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">,</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> the average time </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">for Delaware </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">to issue refunds is 19.5 days compared to last year</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">'s</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"> 14.7 days. </span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">Please know that t</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D">he Division of Revenue is working diligently to process all refunds as quickly as possible.</span><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p></o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p> <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p> </o:p></span></p> </div> </div> </blockquote> Anonymoushttp://www.blogger.com/profile/14780306727051771510noreply@blogger.com0