November 2018
In this issue:
- 5 Annual Tax Essentials
- Retirees Should Check Withholdings...or Else...
- The IRS Loves Your Business ... and That is NOT Good
- Turkey Trivia
This Month:
- Sunday, Nov 11th: Veterans Day
- Thursday, Nov 22nd: Thanksgiving
- Friday, Nov 23rd: Black Friday (shopping deals day)
- Monday, Nov 26th: Cyber Monday (online deals day)
- Tuesday, Nov 27th: #GivingTuesday (charitable giving day)
- Reminder: Conduct year-end tax and financial planning
It's November and the holiday season is upon us. With the end of the year less than two months away, now is the time to run down your annual year-end checklist. Before you dig in to some turkey and stuffing, check out the 5 Annual Tax Essentials article for some year-end tips you can use every year. Also included in this issue is a warning to retirees regarding their federal tax withholdings, an article detailing the areas the IRS scrutinizes a business during an audit, and some turkey trivia you can use to impress your friends.
Please call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to forward it to them.
Happy tax filing month! To help celebrate, this month's newsletter includes a tax quiz exploring the history of taxation in the United States. Also included is a reminder to help your favorite charitable organizations retain their nonprofit status, a simple four-step household budget building process and a reminder of some popular tax breaks that are no longer available in 2017.
In this issue:
- Prepare for the "Claw Back" Credit
Is a tax surprise of over $1,000 in your future? - Taxpayer Bill of Rights
- In the News. Student Loan Interest Relief?
- Ideas to Make Homeownership Affordable
The Month of May:
- July 4th: Independence Day
Happy Independence Day! While we look forward to the fireworks that mark the month, there could be fireworks for millions when the IRS tries to take back health care Premium Tax Credits at the end of the year. If you are using the Health Exchange for your insurance you will want to be aware of this tax risk. There is also news on two other fronts, first the newly announced Taxpayers' Bill of Rights and potential payment relief for those with student loan debt. All this and an article exploring the status of home affordability round out this month's newsletter.
As always, should you know of someone who may benefit from this information please feel free to forward this newsletter to them.
Prepare for the "Claw Back" Credit
In this issue:
- The Chances of Being Audited
2013 audit statistics show changes - Alimony in the Spotlight
- Setting up Your Business
Accounting System - Looking for a Summer Job
The Month of May:
- June 15th: Father's Day
- June 16th: 2nd Quarter Estimated Tax Due
- July 4th: Independence Day
With the end of tax filing and the start of summer why not focus on new beginnings? Included in this month's newsletter are some ideas to help find summer employment and some suggestions on the benefits of creating a good accounting system for your small businesses.
Wonder what the IRS has in store for audits? Consider reviewing the article on audit statistics and a new area of focus within the agency on alimony reporting compliance.
Should you know of someone who may benefit from this information please feel free to forward this newsletter to them.
The Chances of Being Audited
In this issue:
- Planning: Leverage Kiddie Tax Rules
- 2015 Health Care Savings (HSA) Account Limits Announced
- Virtual Currency is Property per IRS
- Check your Credit ...Change your Passwords
The Month of May:
- May 11th:
- Mother's Day
- May 26th:
- Memorial Day
With the 2013 Tax filing season behind us, the 2014 tax planning season is just beginning. Included this month are two areas where advanced planning can reduce your tax bill. There is also an update from the IRS on the tax treatment of virtual currencies like Bitcoin for those of you using or contemplating their use. A checklist of ideas on how to improve security of your identity rounds out this month's newsletter.
Should you know of someone who may benefit from this information please feel free to forward this newsletter to them.
- IRS Announces Annual Scams
- New IRS2GO Mobile App Announced
- Are You Doing Your Bit?
- Understanding the Bitcoin phenomena
- Missing the Flow-through Deadline
- The penalty that does not fit the crime
Phone: 805-389-7300 • Fax: 805-435-7498 • This email address is being protected from spambots. You need JavaScript enabled to view it. • www.SharpCPA.com
Phone: 805-389-7300 • Fax: 805-435-7498 • This email address is being protected from spambots. You need JavaScript enabled to view it. • www.SharpCPA.com
January 2014 Monthly Client Newsletter
This Month:
- January 15th:
- 4th Quarter Estimated Payments Due
- Action Items:
- Start gathering 2013 tax information
- Review 2014 W-2
- Set 2014 financial goals
- Dividend income
In This Issue:
- These Oft-extended Tax Provisions are Now Gone
- Crowdfunding: Using the Internet to Raise Funds
- Five Ideas for a Better 2014
- Health Insurance Penalty Starts Now Time to be thinking about health insurance

Phone: 805-389-7300 • Fax: 805-435-7498 • This email address is being protected from spambots. You need JavaScript enabled to view it. • www.SharpCPA.com
This Month:
- Take final year-end actions:
- Gifts
- Capital gains/losses
- Charitable giving
- Dividend income
- December 5th:
- Last day of Chanukah
- December 25th:
- Christmas Day
- December 26th:
- Kwanzaa Begins
- January 15th:
- 4th Quarter Estimated Payments Due