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CPA Blog

Tax Extenders Pass House, Tax Season to Start as Planned

Last week, the House passed the “tax extenders” bill that renewed 55 tax advantages for taxpayers. The extenders include such benefits as the educator deduction, qualified tuition and related expenses, mortgage insurance premiums, and numerous other business-related deductions (the full list can be seen here). All of these items were extended through the end of 2014. […]


New Jersey Preparer Sentenced to Jail

Todd Halpern, a 49-year-old tax preparer from Guttenberg, New Jersey, bought an established tax practice in 2008. He maintained the client base and prepared over 650 returns over the next several years. One problem, he filed each of those returns using the Electronic Filing Identification Number (EFIN) of the prior owner. He used the existing […]


New IRS Publication Aimed at Explaining the Affordable Care Act

The IRS recently released Publication 5187 in order to provide taxpayers with an additional resource regarding the new health care laws for 2014. The 21-page document effectively presents the different nuances that will be required for the coming tax years. If you are looking for an overview or refresher regarding the Affordable Car Act, I would […]


A Few Thoughts on the Earned Income and Additional Child Tax Credit

One of the issues Congress is trying to address for the upcoming tax season is the amount of tax fraud related to two of the more popular tax credits: the Earned Income Credit (EIC) and Additional Child Tax Credit (ACTC). In order for a preparer to file a return with EIC, they must complete a […]


MLB Player Settles Bill with IRS

Former baseball outfielder Darryl Strawberry failed to pay over $540,000 in taxes from 1987-1990 and over $80,000 from 2003-2004. Strawberry acknowledged that he owes the IRS, but refused to liquidate property in order to settle the debt. The IRS took the case into their own hands and decided to auction off the right to Strawberry’s […]


Another Scam Making Its Rounds

A few months ago I warned all of my clients about the increased number of phishing scams aimed at defrauding taxpayers. Recently, there has been a new string of fraudulent activities occurring, but this time, scammers are preying on companies. Employees, typically controllers or treasurers, have been receiving emails requesting them to authorize a wire […]


IRS Budget Cuts Add to Challenging Tax Season

President Obama signed the spending law that allocated $10.9 billion to the IRS for the fiscal year ending September 30, 2015. This may seem like a staggering figure, but it is actually 3% less than what the IRS received in 2014 and 12% lower than the requested budget. The IRS has already said the agency […]


WARNING: Do Not Be Fooled by Scam IRS Phone Calls

The IRS issued a consumer alert providing taxpayers with tips to protect themselves from telephone scam artists pretending to be the IRS. These scams have always existed, but the amount of scam attempts over the course of the year has risen dramatically. The callers demand money or trick callers into believing they have an additional […]


Should Online Poker Accounts be Treated as Foreign Bank Accounts?

Case Overview: A district court in California recently heard the case of United States v. Hom, 2014. Mr. Hom, an online gambler, held accounts at two online poker sites, PokerStars and PartyPoker, during 2006 and 2007. In order to fund his online play, Hom used an online financial site, FirePay.com, to manage transfers of money […]


Full Tilt Poker Remission Tax Implications

Thousands of U.S. poker players have funds that are currently frozen in Full Tilt Poker accounts. Although these funds have been inaccessible for nearly three years, the Department of Justice announced that payments to players who filed petitions for remittance, before the deadline on November 16th, are expected to be made no later than March […]


CPA Peer Review

In the field of accounting, peer review is the review of the work of one CPA or CPA firm by another CPA or CPA firm. The review process includes looking at working papers and accounting procedures the CPA firm follows. It constitutes a form of self-regulation by qualified members of a profession within the relevant […]


Poker Tax Liability

For all poker players but a fortunate few, July 16th marks a bittersweet day in the poker community. After 61 bracelet events (and one still to be decided), the World Series of Poker came to an end when only the November Nine remained in the Main Event. It also brought an end to our time […]


Fiscal Cliff Tax Changes

We have all heard of the “Fiscal Cliff” and how it will affect us all. With the passage of the America Taxpayer Relief Act of 2012 the fiscal Cliff has been averted but what does this entail? We have compiled the information in this article to help you understand the many changes that may affect […]


California and Las Vegas Peer Review ~ Kondler & Associates

We are always staying on top of the absolute latest in news and hot topics in our industry – which is exactly what our clients and fellow CPAs should expect. Peer Review News: Did you know that those firms who perform Employee Benefit plan audits should be aware that the US Department of Labor is performing […]


Kondler & Associates – Peer Review Hot Topics

Fellow CPA ~ Did you know? Standards for Quality Control Systems No. 7 requires firms to maintain a written system of quality control and to communicate its system of quality control to its personnel?  a.       Monitoring of the firms system of quality control is required to be performed by the firm.  b.      As part of […]


Las Vegas Peer Reviews ~ The Latest

The news these days is dominated by politics and the state of the economy.  While you stay abreast of what’s happening on these fronts – Kondler & Associates is staying up-to-date on the most recent accounting standards to ensure systems of quality control and procedures comply with new industry standards. This is exactly what you want […]


Peer Reviewer – Kondler & Associates

What is a Peer Review?   A Peer Review is just what it sounds like… fellow CPAs (peers) reviewing other CPAs system of quality controls to determine if they comply with professional standards.   If you belong to a CPA Firm with a membership in the AICPA (American Institute of CPAs), you’ve probably had a mandatory peer review as […]


Las Vegas CPA ~ Need more bottom-line results at home or office?

Let us help by outlining Tax Savings to get you there! The first thing most companies and organizations do to increase the bottom line is cut line items like marketing, payroll, and vendor relationships, then re-evaluate insurance plans, equipment rentals, and interest rates on debt.  At home, dining out gets cut along with private school […]


FUTA Tax Rate Reduction

Valued Kondler & Associates clients – did you know that effective July 1, 2011, the Federal Unemployment (FUTA) tax rate was reduced from 0.8% to 0.6%? For employers liable for FUTA this means that payrolls with check dates on or after July 1, 2011, will be calculated at this new rate of 0.6%, while payrolls […]


Las Vegas CPA ~ good news for the public:

Last week, by a 59-39 vote, the Senate passed a reform package which puts safeguards in place to thwart a 2008 financial meltdown “repeat”.   NV Majority Senate Leader, Harry Reid said, “It’s a choice between learning from the mistakes of the past or letting it happen again… for those who wanted to protect Wall […]


Attention HOA’s – Kondler CPAs are listening~you need an audit!

Did you just take over an HOA? Getting heat from your Board? If you haven’t had one in a while… the first thing you’ll need is an AUDIT! Books are mess; residents are behind on payments; there’s more foreclosures in the neighborhood than ever before; landscapers aren’t doing their jobs; the former HOA Management Team […]


Think Tax Season is Over? Think Again?

That’s right, April 15th isn’t the only date you need to remember. Did you file extensions this year for your personal, business or non-profit 2009 tax returns?  If the answer is yes, here’s some other important dates for you take note of: May 15, 2010 Deadline for non-profit organizations to file information returns (Form 990), […]


Tax From the Top: Q&A With IRS Commissioner Doug Shulman

After wall street collapsed,the IRS was charged with being a watch dog for reporting initiatives including a lofty goal of registering all paid tax return preparers.  If you’d like to see how they made out, check out this question and answer section in the Journal of Accountancy featuring IRS Commissioneer Doug Shulman.


Kondler, CPAs:Keeping Up With Trends in Accounting

GAAP (Generally Accepted Accounting Principals)  record all transactions: cash, accrual, investment, expenses, tax and all other expenses and deductions that may or may not have to be reported on your business’ yearly tax form. Kondler CPAs provide assurance on the financial management and procedures of your private comany. We ensure your financial statements or ‘compilations’ […]


Tax Day – Time is running out…

As tax day gets closer and closer, panic may be setting in as you realize you have less than 48 hours to file your tax return for a year that was, “less than ideal” financially.  We can help you make every dollar count even if you’re down on your luck. If you answer YES to any […]


 
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