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How to Avoid an IRS Audit - Yahoo! Finance - 0 views

  • Tax season is upon us, with most Americans putting together the materials they need to file their returns, gathering receipts, and searching for other tax deductions to maximize the amount they get back from the federal government.
  • If the IRS begins to suspect that a tax return isn't entirely truthful, the filer might be in for an audit.
  • Only about 1.1 percent of people who file a 1040 [the most common tax return] for the 2010 tax year were audited ... [or] about 1.5 million," says Rozbruch. "However, the audit rate is 12.5 percent for people earning $1 million or more in 2010.
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  • audits are most often triggered by the kind and amount of deductions taken
  • a professional should be hired in all audit cases.
  • For example, after widespread fraud was discovered, the IRS audited most taxpayers who claimed the First-Time Homebuyer Credit," Reed says. "The Earned Income Credit and the Adoption Credit are also common audit targets, but these are also credits that are often abused, so it makes sense for the IRS to verify that taxpayers qualify for them."
  • Two common examples are receipts for contributions to charity and mileage logs. When taxpayers try to recreate these expenses, they discover it is hard to remember events that happened more than a year ago," Reed says. "In the absence of good records, the deductions are disallowed when audited."
  • According to Rozbruch, the best track to take when an audit begins is to attempt to make things right immediately.
  • Reed adds that if the taxpayer is not maliciously trying to cheat the government, the IRS can be lenient.
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    Tax season is upon us. Here's some tips to avoid an audit
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Gunman kills 26 at Conn. school, commits suicide - Yahoo! News - 0 views

  • "There's no words," Wilford said. "It's sheer terror, a sense of imminent danger, to get to your child and be there to protect him."
  • "Evil visited this community today and it's too early to speak of recovery, but each parent, each sibling, each member of the family has to understand that Connecticut — we're all in this together. We'll do whatever we can to overcome this event," Gov. Dannel Malloy said.
  • "It has to stop, these senseless deaths."
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  • "Among the fallen were also teachers, men and women who devoted their lives to helping our children."
  • "Everyone was just traumatized," he said.
  • Also, a custodian ran around, warning people there was someone with a gun, Varga said. "He said, 'Guys! Get down! Hide!'" Varga said. "So he was actually a hero." The teacher said he did not know if the custodian survived.
  • He said the shooter didn't utter a word.
  • The 20-year-old killer, carrying at least two handguns, committed suicide at the school, bringing the death toll to 28, authorities said.
  • NEWTOWN, Conn. (AP) — A man killed his mother at their home and then opened fire Friday inside an elementary school, massacring 26 people, including 20 children, as youngsters cowered in fear to the sound of gunshots reverberating through the building and screams echoing over the intercom.
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Teachers make money selling materials online - Yahoo! News - 0 views

  • While most characterize these sites as an inexpensive way for teachers to supplement textbook materials, some teachers may get pushback from administrators for their entrepreneurial efforts.
  • Seattle Public Schools' recently revised its ethics policy, with the new policy prohibiting teachers from selling anything they developed on district time, said district spokeswoman Teresa Wippel.
  • Teacherspayteachers.com
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  • she learned over the years that her colleagues — and their students — are only interested in professional-looking materials that offer the kind of information and instruction they need. Teachers are able to rate items offered for purchase or distribution.
  • Teachers often spend their own money on classroom supplies, despite receiving a few hundred dollars a year for that purpose from their districts. Increasingly, teachers say, they are going to these curriculum sharing sites to look for materials like the ones Nannini and Jump made available because their funds go further than at traditional school supply stores.
  • Stephen Wakefield, spokesman for ASCD, a prominent teacher training organization that has a blog promoting ways for teachers to get help online, said no national organizations approve or rate the multitude of online curricula available to teachers. However many offer lists of places for teachers to explore, he said.
  • Smith says the website saves her driving time and cash, because she can buy only what she needs — not a $20 workbook filled with a variety of things.
  • She also likes the idea of supporting other teachers, not corporations.
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Apple case seen as possible spur to tax action - Yahoo! News - 0 views

    • Michael O'Connor
       
      This is the bottom line. They don't have enough money to pay the deficit off...so lets punish successful companies to do so
  • The focus on Apple's taxes comes at a time of heated debate in Washington over whether and how to raise revenues to help reduce the federal deficit
  • "We pay all the taxes we owe — every single dollar," Cook said. "We don't depend on tax gimmicks."
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  • He punched out words when stressing the 600,000 jobs that the company supports, and underscored that Apple is the nation's largest corporate taxpayer.
  • Cook did so voluntarily
  • In effect, Apple is holding out for a lower corporate tax rate, and Cook spent some of his time in the spotlight to advocate for one, as well as a streamlining of the tax code to eliminate deductions and credits.
  • At the same time, lawmakers must tread lightly as they attack Apple, a company held in high esteem and whose ubiquitous products are seen as both innovative and indispensable
  • "What Apple is doing is pretty mainstream," said accounting expert Robert Willens, in an interview. Shifting around the intellectual property rights has a minor effect compared to the simple avoidance of U.S. taxes by not repatriating profits, he said.
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'Tree octopus' is latest evidence the internet is making kids dumb, says group | The Lo... - 0 views

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    dont believe everything you see on the internet!
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Pipes: Rewire the web - 0 views

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    composition tool to aggregate, manipulate and mashup content from around the web.
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