TAXPAYERS, SCAMS ALERT:
1. IDENTITY THEFT
2. PHISHING - LURING EMAILS TO STEAL YOUR PERSONAL & FINANCIAL INFO.
3. RETURN PREPARER FRAUD - QUESTIONABLE / UNAUTHORIZED PREPARERS.
4. HIDING INCOME OFFSHORE.
5. FREE IRS OR SOCIAL SECURITY MONEY ADS IN CHURCHES & COMMUNITIES.
6. FALSE / INFLATED INCOME & EXPENSES FOR LARGER REFUNDS.
7. FALSE FORM 1099 REFUND CLAIMS - CREATE FALSE 1099 DOCS FOR LARGER REFUND
8. FRIVOLOUS ARGUMENTS TO AVOID OR EVADE LAWFUL TAXES.
9. FALSELY CLAIMING ZERO WAGES TO ILLEGALLY LOWER TAXES.
10. ABUSE OF CHARITABLE DEDUCTIONS & ORGANIZATIONS.
11. DISGUISED CORPORATE OWNERSHIP - UNDER REPORT INCOME TO LOWER TAXES.
12. MISUSE OF TRUSTS - SHIFT INCOME & DEDUCT EXPENSES TO LOWER TAXES.
Monday, February 27, 2012
Monday, February 20, 2012
IS BARTER INCOME TAXABLE ?
SMALL BUSINESS OWNERS SOMETIMES BARTER PRODUCTS AND SERVICES THEY NEED. THE FAIR MARKET VALUE OF PRODUCT OR SERVICES THEY RECEIVE IS TAXABLE INCOME ACCORDING TO IRS.
1. ORGANIZED BARTER EXCHANGES IS REQUIRED TO ISSUE 1099-B FOR PROCEEDS FROM BARTER TRANSACTIONS TO THEIR MEMBERS.
2. BARTER OR TRADE DOLLARS ARE IDENTICAL TO REAL DOLLARS FOR TAX REPORTING PURPOSES.
3. FAIR MARKET VALUE OF BARTER PRODUCTS OR SERVICES IS REPORTED ON TAX RETURN.
4. INCOME FROM BARTERING IS TAXABLE IN THE YEAR IT IS PERFORMED. IT MAY RESULT IN BUSINESS INCOME, TAX LIABILITIES, AND CAPITAL GAINS OR LOSSES.
CALL KASH @ (925) 963 4891 ON TAX Q & A.
1. ORGANIZED BARTER EXCHANGES IS REQUIRED TO ISSUE 1099-B FOR PROCEEDS FROM BARTER TRANSACTIONS TO THEIR MEMBERS.
2. BARTER OR TRADE DOLLARS ARE IDENTICAL TO REAL DOLLARS FOR TAX REPORTING PURPOSES.
3. FAIR MARKET VALUE OF BARTER PRODUCTS OR SERVICES IS REPORTED ON TAX RETURN.
4. INCOME FROM BARTERING IS TAXABLE IN THE YEAR IT IS PERFORMED. IT MAY RESULT IN BUSINESS INCOME, TAX LIABILITIES, AND CAPITAL GAINS OR LOSSES.
CALL KASH @ (925) 963 4891 ON TAX Q & A.
Tuesday, February 14, 2012
TAX TIP 2 - MISSING W2 FORM ?
FOLLOW THESE STEPS IF YOU HAVE NOT RECEIVED W-2 FORM - WAGES & INCOME STATEMENT BEFORE JAN 31 2012:
1. CONTACT YOUR EMPLOYER SO THAT IT CAN BE RESENT IF LOST IN MAIL.
2. REQUEST DUPLICATE W-2 OR CREATE W2-S SUBSTITUTE FORM FROM LAST PAY STUB..
3. IF IT IS INCORRECT REQUEST CORRECTED - W2-C FORM.
4. AFTER FEB 14, 2012 REQUEST A COPY FROM IRS.
5. FILE YOUR TAX RETURN BY APRIL 17, 2012 WITH BEST AVAILABLE INFORMATION.
6. AMEND RETURN LATER IF REQUIRED.
FOR Q & A CALL KASH @ 925 963 4891.
1. CONTACT YOUR EMPLOYER SO THAT IT CAN BE RESENT IF LOST IN MAIL.
2. REQUEST DUPLICATE W-2 OR CREATE W2-S SUBSTITUTE FORM FROM LAST PAY STUB..
3. IF IT IS INCORRECT REQUEST CORRECTED - W2-C FORM.
4. AFTER FEB 14, 2012 REQUEST A COPY FROM IRS.
5. FILE YOUR TAX RETURN BY APRIL 17, 2012 WITH BEST AVAILABLE INFORMATION.
6. AMEND RETURN LATER IF REQUIRED.
FOR Q & A CALL KASH @ 925 963 4891.
Monday, February 6, 2012
TAX TIP1...
DIRECT DEPOSIT YOUR TAX REFUND INTO A BANK ACCOUNT FOR THE FOLLOWING REASONS:
1. AVOIDS FISHING LEADING TO IDENTITY THEFT PROBLEMS.
2. FAST AND EASY.
3. EASY TO TRACK.
4. YOU MAY SPLIT REFUND IN TO THREE DIFFERENT ACCOUNTS.
5. REMEMBER - IRS NEVER SENDS EMAILS TO TAX PAYERS i.e. IRS CORRESPONDS THROUGH US MAIL
FOR TAX QUESTIONS CALL KASH @ 925 963 4891
1. AVOIDS FISHING LEADING TO IDENTITY THEFT PROBLEMS.
2. FAST AND EASY.
3. EASY TO TRACK.
4. YOU MAY SPLIT REFUND IN TO THREE DIFFERENT ACCOUNTS.
5. REMEMBER - IRS NEVER SENDS EMAILS TO TAX PAYERS i.e. IRS CORRESPONDS THROUGH US MAIL
FOR TAX QUESTIONS CALL KASH @ 925 963 4891
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