Vernoia, Enterline + Brewer, CPA LLC

Archive for the ‘Uncategorized’ Category

Ensuring Your Year-End Donations Are Tax-Deductible

Many people make donations at the end of the year. To be deductible on your 2017 return, a charitable donation must be made by December 31, 2017. (more…)

Jan 31 Deadline Applies to Wage Statements and Independent Contractor Forms

The Internal Revenue Service today reminded employers and other businesses of the Jan. 31 filing deadline that now applies to filing wage statements and independent contractor forms with the government. (more…)

Are Frequent Flyer Miles Ever Taxable?

If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there are no tax implications involved. And you’re probably right — but there is a chance your miles could be taxable.
(more…)

Using Your 529 College Savings Plan

Over the next few months, many parents will start paying college expenses. If you’re among them, there are rules regarding withdrawing funds from 529 accounts. (more…)

IRS Warns of New Phone Scam Involving Bogus Certified Letters

The Internal Revenue Service today warned people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert to the details.
(more…)

403(b) Pre-Approved Retirement Accounts

Employers eligible to sponsor 403(b) retirement plans for their employees may want to consider adopting a pre-approved plan that has received a favorable letter instead of a having an individually designed plan. (more…)

Renting Out Your Vacation Home? Anticipate the Tax Impact

When buying a vacation home, the primary objective is usually to provide a place for many years of happy memories. But you might also view the property as an income-producing investment and choose to rent it out when you’re not using it. Let’s take a look at how the IRS generally treats income and expenses associated with a vacation home. (more…)