June 21, 2016
IRS Warns of Fake Charity Scams Claiming to Help Orlando Mass Shooting Victims
The IRS is warning Americans about fake charity scams that are trying to use the mass shooting in Orlando as a way to raise money.
June 20, 2016
Tax Tips Q&A for June 2016
Small Business Tax Strategies offers pointers on some common situations. For more details and expert advice and guidance, visit a CPA. Generate energy credits in your state Q. In the last issue (SBTS May 2016), you explained rules for federal residential energy credits. Can you get this on a state level too? Anonymous A. Possibly....…
June 20, 2016
Pennsylvania Liquor Board Opens Online Booze Ordering System for Retailers
Previously, a licensee could only place orders for wine and spirits during normal business hours, by contacting a local store. Through LOOP, orders can be placed online at any time of day and on any day of the year, and emails to users confirm ...
June 20, 2016
Mortgage Rates Hit Lowest Point in More Than 3 Years
Mortgage rates fell further this week, with the benchmark 30-year fixed mortgage rate now at the lowest point since May 2013, 3.69 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.19 discount ...
June 13, 2016
Survey Shows Top Five U.S. Telephone Scams
Almost nine out of ten Americans (89%) receive unwanted calls each month according to a recent survey which has also revealed the top 5 types of scam people have fallen victim to.
June 13, 2016
How Investors Can Salvage Tax Losses With the Wash Sale Rule
Beware of the "wash sale" rule. This rule says you can't deduct the loss from the sale of securities if you buy "substantially identical" securities within 30 days before or after the loss sale. The disallowed loss is added to your basis in the new stock.
June 9, 2016
Scammers Move From Phish to Whales
Whaling is a form of phishing attack where senior executives and others with access to valuable and sensitive data are sent very personal and well researched emails. The attacker may send the target an email that appears to be from someone they ...
June 8, 2016
No Change for IRS Interest Rates in 3rd Quarter 2016
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
June 3, 2016
New York CPA Society Names New President
An NYSSCPA member since 1987, Zovistoski has served on the Society’s Board of Directors each year for the past six years—two of them as the Society’s secretary/treasurer. He’s also served as Finance Committee chair and Northeast Chapter president, as ...
June 1, 2016
Electronic Tax Return Reader
2016 Innovation Award Winner -- The Electronic Tax Return Reader imports data from borrowers’ electronic tax returns, including financial and real estate information. The patent-pending technology supports PDF files created directly from select tax ...
June 1, 2016
Your Identity Has Already Been Stolen, Warns Inspiration for Catch Me If You Can
Your identity has already been stolen, whether you know it or not, according to one of the most senior identity theft experts in the world. Abagnale was the real-life inspiration for the character played my Leonardo DiCaprio in the 2002 movie "Catch ...
May 31, 2016
This Post-Tax Season, Start Scanning for Next Year’s Tax Viruses
In spring 2017, you will spend more than half your waking hours staring at tax returns unless you change your process. What would enable you to run your business more profitably and less painfully?