Happy tax filing month! To help celebrate, this month's newsletter includes a tax quiz exploring the history of taxation in the United States. Also included is a reminder to help your favorite charitable organizations retain their nonprofit status, a simple four-step household budget building process and a reminder of some popular tax breaks that are no longer available in 2017.

In this issue:

• Prepare for the "Claw Back" Credit
  Is a tax surprise of over $1,000 in your future?
• Taxpayer Bill of Rights
• In the News. Student Loan Interest Relief?
• Ideas to Make Homeownership Affordable

The Month of May:

• July 4^th: Independence Day

Happy Independence Day! While we look forward to the fireworks that mark the month, there could be fireworks for millions when the IRS tries to take back health care Premium Tax Credits at the end of the year. If you are using the Health Exchange for your insurance you will want to be aware of this tax risk. There is also news on two other fronts, first the newly announced Taxpayers' Bill of Rights and potential payment relief for those with student loan debt. All this and an article exploring the status of home affordability round out this month's newsletter.

As always, should you know of someone who may benefit from this information please feel free to forward this newsletter to them.

In this issue:

• The Chances of Being Audited
  2013 audit statistics show changes
• Alimony in the Spotlight
• Setting up Your Business
  Accounting System
• Looking for a Summer Job

The Month of May:

With the end of tax filing and the start of summer why not focus on new beginnings? Included in this month's newsletter are some ideas to help find summer employment and some suggestions on the benefits of creating a good accounting system for your small businesses.

Wonder what the IRS has in store for audits? Consider reviewing the article on audit statistics and a new area of focus within the agency on alimony reporting compliance.

Should you know of someone who may benefit from this information please feel free to forward this newsletter to them.

In this issue:

• Planning: Leverage Kiddie Tax Rules
• 2015 Health Care Savings (HSA) Account Limits Announced
• Virtual Currency is Property per IRS
• Check your Credit ...Change your Passwords

The Month of May:

• May 11^th:
• Mother's Day
• May 26^th:
• Memorial Day

With the 2013 Tax filing season behind us, the 2014 tax planning season is just beginning. Included this month are two areas where advanced planning can reduce your tax bill. There is also an update from the IRS on the tax treatment of virtual currencies like Bitcoin for those of you using or contemplating their use. A checklist of ideas on how to improve security of your identity rounds out this month's newsletter.

Should you know of someone who may benefit from this information please feel free to forward this newsletter to them.

Phone: 805-389-7300 • Fax: 805-435-7498 • This email address is being protected from spambots. You need JavaScript enabled to view it. • www.SharpCPA.com

January 2014 Monthly Client Newsletter

This Month:

• January 15^th:
• 4th Quarter Estimated Payments Due
• Action Items:
• Start gathering 2013 tax information
• Review 2014 W-2
• Set 2014 financial goals
• Dividend income

In This Issue:

• These Oft-extended Tax Provisions are Now Gone
• Crowdfunding: Using the Internet to Raise Funds
• Five Ideas for a Better 2014
• Health Insurance Penalty Starts Now Time to be thinking about health insurance