Tag Archives: Internal Revenue Service

2014 Filing Season Continues with Higher Refunds Issued

Posted on March 13, 2014 by Camron Hoorfar

The IRS released 2014 tax filing season statistics showing that 15 percent more refunds were already issued this year, compared to 2013 figures. Additionally, the average federal refund totaled $3,3211, an increase of $190 compared with the same period a … Continue reading →

Posted in General | Tagged , , , , , , | Leave a comment

Four Good Reasons to Direct Deposit Your Refund

Posted on March 12, 2014 by Camron Hoorfar

Here are four good reasons to choose direct deposit: 1. Convenience. There is no need to make a trip to the bank to deposit a check. 2. Security. Sinces no risk of your refund check being stolen or lost in … Continue reading →

Posted in General | Tagged , , , , , , | Leave a comment

Five Facts about Unemployment Benefits

Posted on March 11, 2014 by Camron Hoorfar

Here are five important facts from the IRS about unemployment compensation: 1. You must include all unemployment compensation in your income for the year. 2. There are several types of unemployment compensation. 3. You must include benefits paid to you … Continue reading →

Posted in General | Tagged , , , , , | Leave a comment

Ten Facts about Capital Gains and Losses

Posted on March 10, 2014 by Camron Hoorfar

Capital assets include property such as your home or car. They also include investment property such as stocks and bonds. A capital gain or loss is the difference between your basis and the amount you get when you sell an … Continue reading →

Posted in General | Tagged , , , , , , | Leave a comment

Four Things You Should Know if You Barter

Posted on March 6, 2014 by Camron Hoorfar

Here are four facts about bartering: 1. Barter exchange. A barter exchange is an organized marketplace where members barter products or services. Some exchanges operate out of an office and other over the Internet. All barter exchanges are required to … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

Bill my accountant

Posted on February 18, 2014 by Camron Hoorfar

Under IRC 6672, the IRS can collect unpaid payroll taxes from anyone responsible for collecting or paying the employment taxes. This includes accountants as well. To read about a case that scares accountants, see Erwin, U.S. District Court, M.D. North … Continue reading →

Posted in General | Tagged , , , , , , | Leave a comment

Tax Season

Posted on February 6, 2014 by Camron Hoorfar

The IRS opened the 2014 filing season on January 31st. This date will allow people to file their 2013 individual tax returns. Give us a call if you want us to file your taxes for you. Visit our website at … Continue reading →

Posted in General | Tagged , , , , , | Leave a comment

Wait! Are you an employee?

Posted on January 3, 2014 by Camron Hoorfar

The IRS and the Obama administration are making an effort to crack down on worker misclassification. Most employers would prefer to classify their workers as independent contractors in order to save on payroll taxes, benefits, insurance, and employment laws. However, … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

New mileage rates? Hooray!

Posted on December 24, 2013 by Camron Hoorfar

The IRS has issued the 2014 optional standard mileage rates used to calculate the deductable cost of operating an automobile. Beginning on January 1, 2014, the standard mileage rates for the use of an automobile will be: 56 cents per … Continue reading →

Posted in General | Tagged , , , , , | Leave a comment

Is your spouse innocent?

Posted on December 20, 2013 by Camron Hoorfar

When filing taxes, a husband and wife can file a joint return or separate returns. If they file a joint return, then each spouse is responsible for everything in the return and all taxes owed. However, a spouse can file … Continue reading →

Posted in General | Tagged , , , , , | Leave a comment