Category Archive for: ‘Tax News’

Business tax changes effective January 1, 2014

In 1776, economist Adam Smith established these four canons of taxation—equity, certainty, convenience and economy.  Simplicity has been stated as a fifth.  Taxing the “rich” is not EQUITABLE.   Making retroactive changes to laws is not CERTAIN.  ObamaCare has not proved to be CONVENIENT—easily assessed, collected and administered.  The IRS wants more in their budget each year to enforce compliance which …

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Meet the new President of the Campbell Chamber of Commerce

Campbell, CA –  On January 15th, 2014, the Campbell Chamber of Commerice held a luncheon at Villa Ragusa to welcome their new Board Members, and to install the 2014 Board of Directors. Incoming Board President is Wesley A. Fachner, CPA, EA, CMA, MST, and principal of Fachner Accounting Group, Inc. For over 20 years, Wesley has provided tax and accounting services to …

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2014 Standard Mileage Rates for Business, Medical and Moving Announced

The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56 cents per mile for business miles driven 23.5 …

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Seven Tips for Choosing a Tax Preparer

2013 is almost over and we hope you had a prosperous year!  It is time to start planning for preparing and filing your 2013 tax forms. We hope you will consider our services as you prepare your 2013 taxes. We thought this article would be a good reference while considering who to choose:  tax preparers or tax accountants. If you …

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ACA Mandatory MarketPlace Employee Notification

October 1, 2013, is the deadline for all Employer’s subject to FLSA (regardless of employee size), to make available to their employees, information regarding the new ACA Marketplace. Below is a compliance check list you can forward to your business clients and attached are sample notices that cover all the information necessary to post and/or distribute to their employees to stay …

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The deadline for reporting foreign bank accounts is fast approaching!

Any United States person who has a financial interest in or signature authority over foreign financial accounts must file a Report of Foreign Bank and Financial Accounts (FBAR) if the aggregate value of the foreign financial accounts exceed $10,000 at any time during the calendar year. The FBAR, Form TD F 90-22.1 must be filed with the Department of the …

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