Since the government shutdown back in October, there have been many things that have taken a hit. The latest arising problems come along with the upcoming tax season and being able to receive your check at an early date. Due to the shutdown, the early birds who get their taxes done lickedy split are going to have to wait a little longer than usual to collect.
Other than that, tax season will still end on April 15th, unless you submit for the six month extension.
More here: http://money.cnn.com/2013/12/18/pf/taxes/2014-tax-season/
This weekend in tax free weekend and people will be lining up everywhere to get items that they want at a “great” discount. And usually, with a deal like this, people tend to purchase items with a larger price tag, such as TVs.
But is tax free weekend really all it’s cracked up to be? Experts say that you would be better off with any regular sale that a store is having that offers 20% off. When you get down to the nitty gritty, tax free weekend only takes off around 6% of your purchase. “‘Tax free’ sounds impressive but it’s only about a 6.25% off sale, compared to routine advertised store sales of 20% off or more,” states Joseph Henchman from the Tax Foundation.
The reality of all this is that tax free weekend is a good idea, but not as good of a bargain as everyone makes it out to be. You can save much more by just going to a regular sale at the store any other time of the year. Feel free to go out and enjoy the weekend, but be aware of how much you spend and when other sales will be occurring for those bigger items, in case you can get a better deal another time in the near future.
What is your take on tax free weekend?
To Tax Or Not To Tax
Does it ever confuse you on your taxes when they ask you about household employment? Stay-at-home moms probably feel as though they fall under that category. But really, does anyone actually know what this means?
Massachusetts posted this article/guide on how to determine who counts as household employment or not to help people like you and me figure out who we are taxed on and who we are not. Now you can hire that pool boy and not worry about trying to remember if his labor is taxable or not.
What does a small office like ours have to offer a new client? A more important question might be what does an accounting office even do? We usually just think of individual income taxes, but what about all the other services?
We have two different categories of services that we offer at the office of Robert A. Cooper:
1. Income Tax Services: This category includes individuals, businesses, estates and trusts, non-profits, and deferred compensation.
2. Business Services: This category includes audits, reviews, compilations, write-ups and bookkeepings, Quickbooks installation and integrations, and information technology services.
Now that you know what services we offer, what can we help you with? What questions can we answer about any of these areas of concern?