Senate Finance Chairman Max Baucus has been confirmed as the United States Ambassador to China and will be resigning his seat in the Senate, which he has held since 1978. Baucus is a key tax writing member of Congress, serving most recently as the chair of the Senate Finance Committee since January of 2007. Baucus also served a chair during periods of Democrat control in 2001 though 2003. Senator Ron Wyden (D-OR) assumed office in 1996 after 15 years in the House of Representatives. Wyden's initial priorities will be to extend 55 tax provisions which have had long history in [...]
Dave Cherry and Aaron Blau, EA, CPA recently discussed Arizona's special audit program concerning unreported unemployment income in the 2009 tax year. CBS 5 - KPHO
Denise Fisk, EA and Aaron Blau, EA, CPA are attending Intuit's 'QuickBooks In The Cloud' event. Aaron has trouble paying attention, so he thinks 'live tweeting' the event will help. Here's the feed! Tweets about "#QBInTheCloud"
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It has always been the policy of The Blau Company, Ltd. to keep all information that we collect from you confidential from all sources. We restrict access to all non-public personal information about you to members of our firm who need to know that information to provide services to you. We do collect non-public personal information about you from the following sources: • Information we receive from you on tax preparation organizers, worksheets, Federal and State tax reporting forms, and from other documents we use in tax preparation or other related services. • Information about your transactions with us, our [...]
The start of the 2014 filing season, according to the IRS, will start no earlier than January 28 and no later than February 4. The Internal Revenue Service has blamed the later-than-planned start on a backlog of work resulting from the recent federal government shutdown. The effect of the shutdown on Blau Company clients should be minimal, as there is only a small handful of clients who come in prior to February 1. So long as there are no considerable changes to tax law between now and the end of November 20, 2013, we should be able to begin preparing [...]
I can talk at length about the government shut down and the politics involved. But the fact is, I am an advocate for the taxpaying public, and that isn't about politics. Taxpayers deserve fair, consistent, and timely assistance regarding their tax responsibilities. They deserve well trained, service oriented and interested members of the Service to be available at reasonable times. This shutdown is a disservice to the taxpayers, especially as the October 15 deadline approaches. Yes, even individuals who file extensions are often due refunds - and they aren't going to receive them. It is a disservice to taxpayers who [...]
Aaron is quoted in this article by Deborah Sweeney on the MyCorporation.com website. MyCorporation.com is a self-incorporation website similar to bizfilings.com or legalzoom.com. "14. “LLCs provide the ultimate in tax flexibility. They allow business owners to start small, and be taxed as a sole proprietorship. This keeps tax compliance costs low. As they grow, it will likely be optimal for the taxpayer to be an S-Corporation. LLCs allow them to modify their tax structure without having to change EINs or legal structure. I refer to LLCs as ‘chameleon entities,’ because they are able to take on the characteristics of any [...]
The IRS is facing a shutdown due to the Federal Governments inaction on a continuing resolution which would keep government agencies functioning. The National Association of Enrolled Agents, an organization representing approximately 52,000 tax professionals nationwide, released the following statement on their Facebook page today: "We had a rather lengthy piece in Friday's E@lert, which links to IRS' shutdown plans (I've attached them here for those of you who need the excruciating detail). At noon PST, it looks fairly likely that IRS will have to use the plan. Here's IRS' explanation on how it will operate: "This Plan is developed [...]
This infographic, prepared by Intuit (makers of QuickBooks, consumer tax software Turbo Tax, and professional tax software Lacerte), shows the importance and prevalence of Buy Local campaigns. he most important take-aways are that spending money locally keeps 45% of your dollars in your community, making them available to your neighbors and churning them through your local sales taxes. Inexpensive products purchased from multi-national companies have high costs from 'negative externalites' ... or costs which are not built into the product which are borne by local government or citizens. Negative externalities may include increased pollution levels due to transportation, more frequent [...]