Taxes are fun and sexy! Or not

This tax season, local accountants who get creative with their marketing—if not their deduction strategies—are coming up with ways to make filing taxes a little more fun. Or at least palatable to folks who might otherwise try to blunder through a Schedule C on their own.

Mr. Mason is a CPA with a day job preparing taxes for high-net-worth clients. But three nights a week, he sets up shop at the bar accompanied by an antique brass lamp and a little framed sign: “Resident Accountant—Get Your Taxes Done.” Consultations, starting at $135, include a free cocktail.

Article here (via taxprof blog).  

Related: I'm meeting with my tax person next week! But not at a bar.

Ways to cut your taxes by year-end

Here are key areas to focus on before year-end.

• Adjusted gross income
• Investment gains and losses
• Charitable giving
• Alternative minimum tax
• Medical costs
• Health insurance
• Tax-free gifts for education or other purposes
• Tax-preparation costs

Article here (via taxprof blog).

 

Tax Dos and Don'ts of hiring your child

Does your child work in your family business? Here's a tip: don't pay the wages in pizza if you want to pass muster with the IRS.

Article here. 

The story is based on a parent's attempt to deduct her children's wages as a business expense.

Employing your minor children is legal, as is deducting their pay as a business expense. But the judge found fault with the parent's method of paying her children, which was often not in cash. The decision says she used most of the children's wages to buy either meals, often of pizza, or tutoring services, things that a parent would

typically pay for.