Friday, May 2, 2014


A brief BUZZ today – I am on Long Beach Island rewarding myself for clearing about half of the GDEs.

* ACCOUNTING TODAY reports that in response to a discovery mentioned in last Friday’s BUZZ “Senators Introduce Bill Banning Federal Bonuses for Tax Delinquents”.
* ASK JK (Lasser, that is) is asked, and answers, an interesting question – “I paid my property taxes with a credit card that charged a convenience fee. Can I deduct the conveniencefee?”.

* Jason Dinesen adds to the discussion on tax preparer regulation in “Preparer Regulation and Judging Preparers Based on Size of Refund” at DINESEN TAX TIMES.

I agree with what Jason has to say about taxpayers “chasing the bottom line” and judging tax preparers based on their refund or the refund of others.

The source of the problem is that the public doesn’t understand how taxes work. And the source of that problem is two-fold: 1) the complexity of the tax code and 2) (perhaps to a lesser extent) refundable tax credits that people don’t understand but that they become addicted to.

Those problems need solutions. But requiring preparers to have licenses isn’t a part of the solution.”    

* Dr Jean Murray deals with the issue of “Who Is Self-Employed? Why It Matters” at ABOUT.COM – US BUSINESS LAW/TAXES.

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