cpasense

Name:
Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL -cpabakem01@yahoo.com **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: http://www.blognetnews.com/accounting (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Thursday, October 27, 2005

Salvation Army - Donation Value Guide

List of average prices in our family stores for items in good condition. This list is for guidance only.
Salvation Army

Wednesday, October 26, 2005

IRS Looking For More Than 84,000 Owners Of Undelivered Refunds

Check on your refund now; or, in special situations, start a trace on your refund.The IRS says that $ 73 million in tax refunds to more than 84,000 taxpayers, many of whom have more than one check waiting to be claimed. Checking on the status of your refund by calling 1-800-829-4477 or using the web site above could be worth your time.

The IRS says there are over 1,800 Michigan residents, representing $1.5 million in undelivered refunds

Internal Revenue Service

Tuesday, October 25, 2005

Check Your Tax Withholding

Use this simple calculator to see if you are having too much - or too little - in taxes withheld from your paycheck.
Internal Revenue Service

Monday, October 24, 2005

Investing Internationally: How, Why, And What To Watch Out For

You might be surprised to learn that more than half of the world’s investment opportunities are outside the U.S. If you want to widen your investment boundaries, read what the Michigan Association Of CPAs says you should know about investing abroad....-MORE-

Friday, October 21, 2005

IRS Warns Consumers Of Possible Scams Relating To Hurricane Relief

The Internal Revenue Service has issued a consumer alert about possible scams in the wake of Hurricane Katrina and other recent natural disasters. Tips for hurricane victims and people wishing to make disaster-related charitable donations can be accessed online....-MORE-

Thursday, October 20, 2005

College Costs Going Nowhere But Up

Grants lag as growing cost of higher education shows no sign of slowing.
CNNMoney

Wednesday, October 19, 2005

Katrina Disaster - Donate Now !http://www.redcross.org/donate/donate.html
http://www.salvationarmyusa.org
Finding Loved Ones
http://www.redcross.org

United Nations Children's Fund - Earthquake in South Asia - Donate Now!
http://www.unicef.org/

Tax Overhaul Glance

The President's Tax Reform Panel on Tuesday , October 18, 2005, endorsed recommendations designed to drastically simplify taxes for individuals and families. Here's a list of major changes included in the proposals.
Smartpros.com

Monday, October 17, 2005

Understanding How Dividends Are Taxed

It’s been several years now since the Jobs and Growth Tax Relief and Reconciliation Act of 2003 changed how dividends are taxed. As a result of that tax law change, investors now pay lower tax rates on certain qualifying dividends. The Michigan Association Of CPAs offers the following refresher on the taxation of dividends, along with some advice for investors....-MORE

Saturday, October 15, 2005

2006 Social Security Changes

Social Security and SSI beneficiaries will receive a 4.1% increase in their benefits in 2006. Other changes listed here.

Social Security

Your National Resource About Identity Theft

This web site is a one-stop national resource to learn about the crime of identity theft
Federal Trade Commission (FTC)

IRS Announces Pension Plan Limitations For 2006

Oct. 14, 2005 — The Internal Revenue Service today announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2006.
Internal Revenue Service

Public Acts (Law) Passed By Michigan Legislature - 2005

Selected Michigan Public Acts through PA 168 - received through October 6, 2005
Institute of Continuing Legal Education (ICLE)

Friday, October 14, 2005

Bush Tax Panel Eyes Big Mortgages

President Bush's tax advisory commission has it's eyes on the jumbo mortgages that finance the McMansions so popular with affluent taxpayers. A national sales tax is expected to be rejected.
Consumer Affairs

Wednesday, October 12, 2005

How Not To Get Hooked By A "Phishing" Scam

A typical e-mail scam works like this: you receive an e-mail from a business claiming to be someone you usually deal with. In this e-mail, you are asked to "update" or "validate" personal information, such as Social Security numbers, credit card number, dates of birth, or other sensitive information to keep your account "active". This is called "phishing" - and it involves internet crooks who send messages to lure personal information from unsuspecting victims. Never disclose private information requested from an unsolicited e-mail or phone call.
Federal Trade Commission (FTC)

Monday, October 10, 2005

How To Help Your Child Become Stock Market Savvy

Teaching your children about the value of investing is an essential part of preparing them for the future. If you are not sure how to get started, the Michigan Association of CPAs provides answers to common questions parents have about introducing children to investing....-MORE-

Information On The Medicare Prescription Drug Coverage

The links here provide you with access to the most recent information regarding the Medicare Prescription Drug Benefit that you will need to reach a new decision about your Medicare coverage.
Important Dates:
October 1 - Private insurers will sart sending marketing materials on drug plans in your area that Medicare has approved
October 13 (Delayed Until October 17 ) - You will be able to compare drug plans online at http://www.medicare.gov or by calling 1-800-633-4227
November 15 - May 15, 2006 - Volunteer sign up for it during this enrollment period. If you delay, you will have to pay more for it when you join at a later point.
January 1, 2006 - Prescription Drug Program begins.

Medicare

Also see July 20, 2005 article "Medicare Questions -New Prescription Drug Law"
AARP

Sunday, October 09, 2005

States Make It Easier To Collect (Online) Sales Taxes

Online and other out-of-state retailers will find it substantially easier to collect sales taxes as the voluntary Streamlined Sales and Use Tax Agreement (SSUTA) went into effect on Saturday, October 1, 2005.
National Conference of State Legislatures

Monday, October 17 Is Deadline For Extensiion Filers

Katrina/ Rita Hurricane victims have until February 28, 2006.

Internal Revenue Service

New Bankrupcy Law Goes Into Effect October 17

This law represents a major reform of the U.S. bankruptcy system.
FindLaw.com

Also, see May 25 article "New Bankruptcy Act Tips"

Saturday, October 08, 2005

Poll Confirms Rising Perception Of CPA Profession

According to the 2005 Gallop Poll. the Accounting Profession has increased in popularity among Americans
American Institute Of Certified Public Accountants (AICPA)

Friday, October 07, 2005

CPAs Outline Basic Rules For Investors
These days it’s more important than ever to make the most of your investment dollars. For those who are new to investing, here are some tips from the Michigan Association of CPAs MORE-