Cotera Accounting

02/09/2025

02/26/2021

07/07/2017

Zombie Billing:
Automatic Payments Have a Life of Their Own
The turn it on and forget it nature of automatic payments can create "zombie billing" cycles that go on without being reviewed or challenged, even after the product or service you pay for is no longer of value.

Here are some ideas to keep this from happening to you.

Create a list. Make a list of the companies you authorize to use automatic bill payment. Include the account number each company uses, as well as payment amounts and frequency. When there's a change in a card or bank account, you can consult the list to find the companies you need to notify.

Watch for fees. Make sure the bill-payment system you're using is low-cost or no-cost. Some companies will charge you a fee for automatic payments. If your biller wants to charge you, pay them with a traditional check. Consider consolidating all your automatic payments within one bill-paying service. Your bank may even offer online bill payment with no fee.

Review underlying bills. Automated billing usually means you're not getting paper copies of your bill. If you're not receiving a physical copy, changes to your service may go unnoticed. If possible, opt to continue receiving email or paper billing statements. Review statements monthly to verify that your payment has not changed and there are no additional fees or errors.

Drop underused services. Periodically review all automatic payments. Drop products and services that are no longer of value.

Automatic billing is meant to simplify your life, but if you allow it to turn into zombie billing, it will have the opposite effect. Take care to review your accounts and statements to protect yourself and keep your finances under your control.

For additional information request my monthly letter or go to

www.CoteraAccounting.com

Cotera Accounting

Professional tax and financial services.

07/01/2017

IRS Launches 2017 Summertime Tax Tip Program
IR-2017-115, June 30, 2017
WASHINGTON — More than 719,000 taxpayers received plain-language Tax Tips directly to their email inbox during this past tax filing season and got the information they needed to help them file their taxes.
Because taxes are year-round for many taxpayers, and many taxable situations arise during the summer months, the Internal Revenue Service offers a Summertime Tax Tip program that begins July 3. The IRS is encouraging taxpayers to sign up now for this email service to help them get a jump-start on their taxes and learn about the tax implications of events that often occur during the summer months.
The Summertime Tax Tip series, which offers helpful consumer tips written in plain language, covers a wide range of important subjects.
Some of the 2017 Summertime Tax Tip topics include:
Tax scams don’t take vacation; what’s out there now
Teens and summer jobs
Vacation home rentals – tax implications
Getting married? Tax implications you need to know
IRS notices – What you could receive in the mail from the IRS
The IRS Tax Tips email service is available in English and Spanish. It provides new IRS Tax Tips via e-mail three times a week during the months of July and August. Subscribers will also receive a Tax Tip each day of the week during the tax filing season and Special Edition Tax Tips that are issued for “hot topics” that arise throughout the year.
Taxpayers can sign up to receive IRS Tax Tips automatically for free on www.irs.gov. From the Subscriptions link on the top right of the IRS website, choose “IRS Tax Tips” on the drop-down menu, and then click on “Subscribe.” Click on “more,” on the drop-down menu, to subscribe to the IRS Tax Tips in Spanish.
The IRS also has a number of other e-subscriptions to which taxpayers, tax professionals and others may subscribe to receive tax information via email from the IRS during the tax-filing season and the rest of the year.

06/29/2017

Good afternoon everyone!!!!!
I have plans to start a new income tax class this summer, let me know if you are intrested