Sharp Thoughts

Tax Filing Season is Here

The Internal Revenue Service is now accepting most tax returns for individuals as of January 30th. However, there will be some delays related to certain forms. In a recently issued statement from the IRS, anyone claiming a credit on form 8863 (the American Opportunity Tax Credit and the Lifetime Learning
more
No comments

Simplified Home Office Deduction

Recently, the IRS released an announcement concerning a simplied home-office deduction for home-based businesses beginning in 2013. While the same rules apply to determining if the use of your home is deductible as a business expense, the record-keeping and hassle of keeping track of those expenses is simplified. The simplified
more
No comments

Tax-Related Identity Theft

The IRS does NOT use e-mail!  Tax-related identity theft has increased dramatically over the past several years and IS happening in Southeast Kansas too.  Beware and be sure to take any correspondence you receive to your CPA.  Currently, the IRS has over 650,000 identity-theft cases in
more
No comments