by Leif Jensen | Nov 16, 2011 | General |
The IRS has classified iPads and tables that are employer issued to be a tax free benefit for the personal use. These now fall into the same arena as cell phones and those antiques, that some still use called laptops. So Uncle will not be looking for some cash for...
by Leif Jensen | Nov 16, 2011 | General |
Where do you want the income, 2011 or 2012? You have the capability to delay year end billings or speed them up to assist in moving receivables to your year of choice. Cash basis accounting assists with allowing this flexibility in determining your income as well as...
by Leif Jensen | Nov 15, 2011 | General |
I was just hired to to what appeared to be a simple audit. The prior year had under $200,000 in income and expenses. But, the management was a bit hands off and the bookkeeping/accounting firm who had been doing the books for many years had grown fat, dumb and sloppy...
by Leif Jensen | Nov 14, 2011 | General |
Paid tax preparers, those that don’t have the CPA credential, lawyers or an unrolled agent, now can schedule their minimum competency exam. This exam will be an open book, it will consist of 120 multiple choice and true false questions. Test takers will have two and...
by Leif Jensen | Nov 13, 2011 | General |
The AICPA trumpets its acceptance of CPA mobility which has been signed by 39 states as a great triumph. I believe it to be a false promise boarding on farce. The only things that CPA’s seem to be getting a free ride on are the things that they cannot license. ...
by Leif Jensen | Nov 7, 2011 | General |
In the current environment I am finding out that there are more and more people who are out and out dishonest tax preparers out there. Now, there are several levels of criminals preparing taxes out there. Some aspect are as follows: Buy a single copy of Turbo Tax and...
