Schulte & Uhrig CPAs Inc.

01/29/2015

http://www.irs.gov/uac/Newsroom/Return-Preparer-Fraud-Hits-IRS-Annual-“Dirty-Dozen”-List-of-Tax-Scams-to-Avoid-During-the-2015-Filing-Season

WASHINGTON — The Internal Revenue Service today warned taxpayers to be on the lookout for unscrupulous return preparers, one of the most common “Dirty Dozen” tax scams seen during tax season.

12/12/2014

http://www.irs.gov/uac/Newsroom/Interest-Rates-Remain-the-Same-for-the-First-Quarter-of-2015

WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2015. The rates will be:

12/09/2014

http://www.irs.gov/uac/Newsroom/Most-Retirees-Need-to-Take-Required-Retirement-Plan-Distributions-by-Dec.-31

WASHINGTON — The Internal Revenue Service today reminded taxpayers born before July 1, 1944, that they generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by Dec. 31.

11/26/2014

Happy Thanksgiving to all our Clients, Friends and Families. We hope you enjoy your special time Thursday and Give Thanks for what you appreciate. We appreciate and are Thankful for you! If you plan to travel, please be safe.

11/25/2014

11/25/2014

Our office will be closed for the Thanksgiving Holiday on Thursday November 27, 2014 and Friday November 28, 2014.

11/25/2014

Six IRS Tips for Year-End Gifts to Charity
Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before you give. Here are six tips from the IRS that you should keep in mind:
1. Qualified charities. You can only deduct gifts you give to qualified charities. Use the IRS Select Check tool to see if the group you give to is qualified. Remember that you can deduct donations you give to churches, synagogues, temples, mosques and government agencies. This is true even if Select Check does not list them in its database.
2. Monetary donations. Gifts of money include those made in cash or by check, electronic funds transfer, credit card and payroll deduction. You must have a bank record or a written statement from the charity to deduct any gift of money on your tax return. This is true regardless of the amount of the gift. The statement must show the name of the charity and the date and amount of the contribution. Bank records include canceled checks, or bank, credit union and credit card statements. If you give by payroll deductions, you should retain a pay stub, a Form W-2 wage statement or other document from your employer. It must show the total amount withheld for charity, along with the pledge card showing the name of the charity.
3. Household goods. Household items include furniture, furnishings, electronics, appliances and linens. If you donate clothing and household items to charity they generally must be in at least good used condition to claim a tax deduction. If you claim a deduction of over $500 for an item it doesn’t have to meet this standard if you include a qualified appraisal of the item with your tax return.
4. Records required. You must get an acknowledgment from a charity for each deductible donation (either money or property) of $250 or more. Additional rules apply to the statement for gifts of that amount. This statement is in addition to the records required for deducting cash gifts. However, one statement with all of the required information may meet both requirements.
5. Year-end gifts. You can deduct contributions in the year you make them. If you charge your gift to a credit card before the end of the year it will count for 2014. This is true even if you don’t pay the credit card bill until 2015. Also, a check will count for 2014 as long as you mail it in 2014.
6. Special rules. Special rules apply if you give a car, boat or airplane to charity. For more information visit IRS.gov.

09/18/2014

The American Institute of CPAs has written a letter to Congress asking lawmakers to address the uncertainty about dozens of expired tax breaks and about-to-expire breaks that could complicate next tax season for practitioners.

09/18/2014

It's almost here! The Fashion Show is tomorrow, September 18 at the Horseshoe Casino. Still need tickets? Call 513-322-1786.

07/03/2014

Just a reminder that our office will be closed Friday July 4, 2014, in observance of Independence Day! Please have a safe weekend. Enjoy your family, friends, picnics, boating, firework shows, and whatever you will be doing this 3 day weekend. We will be open again, Monday July 7, 2014.

07/03/2014

The Internal Revenue Service has introduced a new 1023-EZ form that shortens the application that charities need to submit if they want to be granted tax-exempt status under Section 501(c)3 of the Tax Code.

07/03/2014

Have you heard that Ohio Bureau of Worker's Compensation will transition to Prospective Billing beginning July 1, 2015.
Here's what you need to know:
https://www.bwc.ohio.gov/employer/brochureware/ProspectiveBilling.asp

This page includes information and resources regarding BWC's upcoming switch to a prospective billing system. Employers, third-party administrators and other interested parties should check this page regularly for updates.