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Hi all, here is the New letter for September, Even if they do not pertain to you check them out anyway. Who Gets Your IRA The designated beneficiary listed on yourIRA account beneficiary form determines who gets your IRA. This is true even ifyour will or trust names different...

hi all, this has been an ongoing problem in this business, there are approximately 10 Owners that refuse to pay their drivers. We'll there is a way to take care of this problem, If you have Internet access, of which 99% of you do, Go to the IRS website, and find Form 3949-A...

I know that there are some Wal-marts that do not allow Tractor Trailer parking, but they do Allow RV parking, which really does not make sense, especially with a Straight Truck, its basically the same as an RV in Size and height. BUt "its got Commerical Plates, I think that's the...

Hi, Not all Wal-marts are the same, Most of them that are in shopping centers and do not stand by themselves, allow parking, if you own a Straight Truck it normally does not violate the parking regulations. Most of them say No Tractor Trailers, if that's the case, Park your Truck on the...

Hi, It would depend on what the letter says that you owe, or what they are requesting you to pay, Do Not pay until you sit down and talk with your tax preparation person to see why they disallowed certain items on your return and appeal the decision, it is not written in stone that you...

MANDATORY HEALTH INSURANCE WILL BEGIN ON JANUARY 1, 2014 Beginning in 2014 the Patient Protection & AffordableCare Act (the health care legislation sometimes known as Obama Care) will impose the new requirement that U.S. persons, with certain exceptions, have minimal, essential health care...

Hi, Continuation of Newsletter- 8. Basic Medicare Premium's increase to $104.90 per Month in 2013,but Part B & D premium's are much higher for upper income seniors if theremodified adjusted gross income for tax year 2011 exceeded $170,000. for coupleswho file a joint return or $85,000 for single...

Dear Clients and possible new clients We are making this newsletter available to you in time for the ExpoTomorrow and for the month of August. There are a number of New Tax Rules that you will have to be aware offor this tax filing season and beyond. 1. For those of you who are Company Drivers...

Documenting Charitable Contributions A frequently asked question is, “What records are required for charitable contributions?” In recent years, Congress has passed stringent record keeping rules for charitable contributions as well as harsh penalties for understating taxable income. The...

Hi All, Here is this months Newletter for your information Mid-Year Tax Planning Checklist All too often, taxpayers wait until after the close of the tax year to worry about their taxes, missing opportunities that could reduce their tax liability orhelp them...

Sorry all, I only missed 1 and that was in 2005 when I had my Anurisim (Sorry for the spelling) But due to ATT which did not help in Feb, that I did not have a phone until march 18, and I lost a lot of business and the Capital is not there to attend this year., Hope to see you all next year,

Newletter (continued) Tips for Students and Parents Paying College Expenses Whether you’re a recent high school graduate going to college for thefirst time or a returning student, paying for college can be a dauntingfinancial task. The following are some tips about education tax benefits...

Dear Valued Client, In this edition of our newsletter, we are covering some important information if you hold a foreign financial account, helpful record-keeping tips and much more. If you see something that you want to talk about, feel free to contact us to explore the possibilities. Please...

Hi All, I am sorry to say that I will not be a Vendor this year at the Expo, This is due to conflicting commitments this year with important tax seminars that I would have to attend that week, this one ends on Friday, and is out of State and there is no way that I will able to be available...

Actually No, there are no stats, you have to remember that IRS audits are Ramdom, and not specific, most audits will be for certain items MILEAGE, AND ACTUAL EXPENSES, THIS IS A BIG AUDIT RED Flag, you cannot take both, If you are a Cargo Van Driver, it depends upon what office...

Eight Small Business IRS Audit Areas to Watch Through the 2013 Tax Year Your small business that might fit any of these eight profiles could be a focus for IRS compliance efforts aimed at underreporting. The IRS continually analyzes compliance levels for entities, issues and industries by...

Energy Costs Rise as Tax Incentives Fade With energy costs skyrocketing, you would think that the federal government would come up with some tax incentives aimed at curbing the consumption of energy. However, on the consumer end of taxes, the incentives are actually...

Did You Overlook Something on a Prior Tax Return? Occasionally, clients will realize that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more...

I have been busy, But in answer to your questions in reference to an LLC, I think I covered it quite thoroughly it only covers you within your home state lines. even if you are an LLC, you still would have to file a Schedule C as a...

After noon Fastman, but you are going to have a problem if God forbid anything happens, Since you reside in Ohio, Your Ohio LLC will not be covered in Indiana, PA, or any other state if you have a serious accident. The LLC is strictly covered only in your resident state. and you can be sued...