BKHM Blog

TIGTA WARNS OF PHONE FRAUD SCAM TARGETING TAXPAYERS

Posted by Sheridan Smith on Thu, Jan 22, 2015 @ 09:25 AM

TIGTA Warns of “Largest Ever” Phone Fraud Scam Targeting Taxpayers

WASHINGTON — The Treasury Inspector General for Taxpayer Administration (TIGTA) today issued a warning to taxpayers to beware of phone calls from individuals claiming to represent the Internal Revenue Service (IRS) in an effort to defraud them.

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Topics: tax, Scam, phone fraud

SOCIAL SECURITY WAGE BASE INCREASE

Posted by Sheridan Smith on Tue, Nov 12, 2013 @ 01:13 PM

Social Security wage base increases to $117,000 for 2014

Social Security News Release, 10//2013

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages.

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Topics: bkhm cpas, tax, social security

2012 TAX POLICIES OF THE MAJOR PRESIDENTIAL CANDIDATES

Posted by Sheridan Smith on Wed, Sep 12, 2012 @ 09:39 AM

Presidential Candidates Outline Tax Policies

On November 6, 2012, Americans will elect the occupant of the White House for the next four years. As President of the United States, he will play a major role shaping tax policy and possibly reforming the entire Tax Code. This special CCH Briefing describes the tax policies of President Barack Obama, the Democratic Party candidate for President, and former Governor Mitt Romney, the Republican Party candidate for President, with analysis of the potential impact of their tax positions both for the immediate future and for 2014 and beyond.

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Topics: bkhm cpas, tax, tax cuts, healthcare reform, taxes

TAX CASUALTIES OF CLASSIFICATION

Posted by Sheridan Smith on Thu, Aug 23, 2012 @ 10:52 AM
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Topics: bkhm cpa, tax, classification

PAYING ESTIMATED TAX OR HAVING MORE WITHHELD?

Posted by Sheridan Smith on Mon, Aug 20, 2012 @ 11:50 AM
FAQ: Should I be paying estimated tax or having more withheld instead?

Some individuals must pay estimated taxes or face a penalty in the form of interest on the amount underpaid. Self-employed persons, retirees, and nonworking individuals most often must pay estimated taxes to avoid the penalty. But an employee may need to pay them if the amount of tax withheld from wages is insufficient to cover the tax owed on other income. The potential tax owed on investment income also may increase the need for paying estimated tax, even among wage earners.

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Topics: tax, Estimates, withholding

TAX PROS AND CONS OF COST SEGREGATION

Posted by Sheridan Smith on Wed, Apr 11, 2012 @ 10:55 AM

Side effects of cost segregation

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Topics: tax, cash flow, real estate, cost segregation

VIRTUAL TAX AUDITS COMING SOON?

Posted by Sheridan Smith on Thu, Apr 05, 2012 @ 12:09 PM

NEW YORK (CNNMoney) -- The dreaded process of getting an audit could soon take place over a computer screen in the comfort of your living room.

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Topics: bkhm cpas, tax, IRS, audits