It's Your Money. Look after it!

Quick reading to get you on track

2011-05-08T16:39:00.001-04:00

... is available at Amazon.com. Read this book for some creative ideas and then come in for a visit.

Creating Tax Plans for smart taxpayers. Reach us at www.LogieCPA.com

Vacation Home Real Estate last to come back

2011-05-05T20:55:00.002-04:00

CNBC reports:

The buyers’ market for vacation homes is likely to continue for years, with activity largely limited to buyers with enough cash to circumvent a tighter, post-recession lending environment.

Erik Von Weber | Stone | Getty Images

Thirty-six percent of all vacation-home buyers in 2010 did not use a mortgage — versus 29 percent the year before — while more than half of them financed less that 70 percent of the purchase price, according to the National Association of Realtors. Of those who bought a second home as a rental investment, 59 percent paid cash.

http://www.cnbc.com/id/42862675

Creating Tax Plans for smart taxpayers. Reach us at www.LogieCPA.com

Possible pullback, high oil raise risks: Fidelity

2011-02-26T22:33:00.000-05:00

Possible pullback, high oil raise risks: Fidelity

Creating Tax Plans for smart taxpayers. Reach us at www.LogieCPA.com

Check your refund from your iPhone

2011-01-25T16:23:00.000-05:00

The Internal Revenue Service has unveiled IRS2Go, its first smartphone application that lets taxpayers check on their status of their tax refund and obtain helpful tax information.

Taxpayers can check the status of their federal refund through the new phone app with a few basic pieces of information. First, taxpayers enter a Social Security number, which is masked and encrypted for security purposes. Next, taxpayers pick the filing status they used on their tax return. Finally, taxpayers enter the amount of the refund they expect from their 2010 tax return.

For people who e-file, the refund function of the phone app will work within about 72 hours after taxpayers receive an e-mail acknowledgement saying the IRS received their tax return.

For people filing paper tax returns, longer processing times mean they will need to wait three to four weeks before they can check their refund status.

Phone app users enter their e-mail address to automatically get daily tax tips. Tax Tips are simple, straightforward tips and reminders to help with tax planning and preparation. Tax Tips are issued daily during the tax filing season and periodically during the rest of the year. The plain English updates cover topics such as free tax help, child tax credits, the Earned Income Tax Credit, education credits and other topics.

Creating Tax Plans for smart taxpayers. Reach us at www.LogieCPA.com

FILING SEASON DELAYED FOR SOME TAXPAYERS

2011-01-23T13:40:00.000-05:00

The IRS announced that the upcoming tax season will be delayed for certain taxpayers.

The 2011 filing season will begin in January as usual for the majority of taxpayers, but changes due to the 2010 Tax Relief Act mean that the IRS must reprogram its processing systems for provisions that were extended by the Act.

The delay affects both paper-filed and e-filed tax returns that include:

Form 1040 Schedule A, Itemized Deductions
Educator expense deductions on Form 1040, line 23, or Form 1040A, line 16
Form 8917, Tuition and Fees Deduction
Casualties and thefts claimed on Form 4684
Form 8859, District of Columbia First-Time Homebuyer Credit

A few other taxpayers will also have to wait to file, due to the impact of other recent changes, primarily those included in the Small Business Jobs Act of 2010. Affected will be returns that include:

Form 3800, General Business Credit
Form 5405, First-Time Homebuyer Credit and Repayment of the Credit
Form 6478, Alcohol and Cellulosic Biofuel Fuels Credit
Form 8834, Qualified Plug-In Electric and Electric Vehicle Credit
Form 8910, Alternative Motor Vehicle Credit
Form 8936, Qualified Plug-In Electric Drive Motor Vehicle Credit

Affected taxpayers must wait until the tax processing systems are ready—which the IRS estimates will be in mid- to late February—before filing their tax returns.