Personal Property Declarations are due by November 1st, 2014.

Personal Property Declarations must be filed with your Town’s Assessor by November 1st, 2014. Not sure if you are subject to this deadline? If you are a business owner who has any tangible personal property used in a business, then you must file this form with your town of business. Examples of “tangible personal property” would include, but not be limited to, computers, office furniture, equipment and signage. This does not include registered automobiles, trailers, boats and airplanes. If you have not received your form in the mail, you should obtain the Personal Property Declaration forms at your Town Assessor’s Office.

If we complete this form for you, we would ask that you have the form to us by October 15th in order to ensure timely filing. There are hefty penalties associated with late filing – an estimated assessment plus a 25% penalty. Also, please be sure to provide a list of any assets purchased or disposed of during the period of October 1st, 2013 to September 30th, 2014. If this is the first year we are preparing this form for you, we need your prior year form as well.

If you prepare this form yourself and have questions, we are always here to help!

MaryJoWalker.com

Surprise! Your Private Student Loan Has Been Paid

Think good Samaritans don’t exist? Think the lottery only applies to Powerball? Not so! Rolling Jubilee, a subsidiary of Strike Debt, are selecting people at random and forgiving their private student loan debt.

Rolling Jubilee has erased over $3.5 million dollars in private (not federal) student loan debt. They have taken advantage of a quirk in the life of debts and, using donations raised online, buy debts that are sold at deep discount prices (as low as three cents on the dollar) once they are categorized as delinquent and pay them off! The lucky recipients are notified by letter that their debt is gone and the yoke of debt is lifted. They have also purchased and erased $15 million dollars of medical debt, another arm of the debt octopus dragging down a significant percentage of the population.

Strike Debt formed out of the Occupy Wall Street movement and its philosophy on the loan debt tragedy is that everyone is morally entitled to education (medical care, etc) without having to be crushed under the demands of a private loan system.

They may not be able to eradicate the trillions of dollars of student loan debt for everyone, but the next person they help could be you!

 

MaryJoWalker.com

 

Guess Who’s Playing Catch-Up with MJW EA & Company LLC?

H&R Block has recently announced that it will add accounting services to provide bookkeeping, payroll, tax and coaching to small businesses. They will also start to help set up systems for clients and answer questions

Sound familiar?

Right now, they’re only offering this service in Kansas City, but planning on gradually branching out to other parts of the country. They’re also touting a scanner clients can use to submit their documents for business, ostensibly to make the process easier for the client.

We’ve got something a little handier for our clients:

Introducing TaxPocket! MJW EA & Company LLC is now linked with TaxPocket, an app for your smart phone. Take a look at the options and features Tax Pocket affords its users – and it’s free!

“TaxPocket means no more guessing. Finally you can painlessly record all your tax-related expenses and report them securely to your preparer. Keeping accurate records means you’re less likely to be a target for an IRS audit, too. TaxPocket for iPhone and android makes your phone a personal assistant collecting, organizing, storing, and sending your yearly records. Features include:

• Mileage Tracker
• My Tracker
– Business Expense Tracker
– Medical Expense Tracker
– Childcare Expense Tracker
– Charitable Donation Tracker
• Manage Expense Tracker from any mobile device
• One-Touch Dialing/Emailing to Your Tax Professional
• Calendar With Important Dates Provided by Your Tax
Professional
• Coupons and Special Promotions from Tax Professionals
• Secure Records Transfer to Your Tax Professional
• And Much More!

No other app on the market brings all these features together into one convenient location with the added benefit of a direct connection to YOUR tax professional.”

You can collate all the information you want and export it directly to us! This saves you the hassle of trying to gather all your mileage or receipts at the end of the year and perhaps missing something.

MJW EA & Company LLC has been there for our small business clients and will be there with them as they continue to grow.

MaryJoWalker.com

Now Hear This!

Mary Jo has collaborated with Ann Nyberg’s Network CT and if you click the link below, you can check out the interview she gave to Mike Maguire with tips, advice and anecdotes from the tax professional realm.  Mike Maguire is a seasoned CEO and is considered an authority on corporate strategy and integrated direct marketing.  He is also heavily involved with local charitable organizations.

Enjoy!

Click here to listen to the podcast.

 

podcast

IRS Phone Scam Warning – Please Read!

The IRS does not initiate phone calls and demand payment via prepaid credit cards, Debit Cards or ask for PINs, passwords or similar confidential access information for bank or other financial accounts.

We’ve said this before but it’s worth another strong warning.   Please take care to guard against sophisticated and aggressive phone scams targeting taxpayers!

We  have recently received calls from some of our clients who have reported a particularly aggressive phone scam. Potential victims are threatened with deportation, arrest, having their utilities shut off, having their driver’s licenses revoked or liens placed on their home. Callers are frequently insulting or hostile – apparently to scare their potential victims.

Potential victims may be told they are entitled to big refunds, or that they owe money that must be paid immediately to the IRS. When unsuccessful the first time, sometimes phone scammers call back trying a new strategy.

Other characteristics of this scam include:

  • Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
  • Scammers may be able to recite the last four digits of a victim’s Social Security number.
  • Scammers spoof the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
  • Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
  • Victims hear background noise of other calls being conducted to mimic a call site.
  • After threatening victims with jail time or driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim.

If you get a phone call from someone claiming to be from the IRS, here’s what you should do:

  • If you know you owe taxes or you think you might owe taxes, call the IRS at 1.800.829.1040. The IRS employees at that line can help you with a payment issue, if there really is such an issue.
  • If you know you don’t owe taxes or have no reason to think that you owe any taxes (for example, you’ve never received a bill or the caller made some bogus threats as described above), then call and report the incident to the Treasury Inspector General for Tax Administration at 1.800.366.4484.
  • If you’ve been targeted by this scam, you should also contact the Federal Trade Commission and use their “FTC Complaint Assistant” at FTC.gov. Please add “IRS Telephone Scam” to the comments of your complaint.

MaryJoWalker.com