Actors Tax Prep

One month to go before we hit that 15 April deadline to file personal income taxes. The staff and I are hoping not everyone will wait till too near the end, and I urge everyone who has not yet filed to consider getting your material in ASAP, whether you work with us or someone else, earlier is definitely better.

Today, ActorsTaxPrep was a part of the annual Oakbrook Apartments Expo. Had several hundred folks through the expo space, and numerous people stopped to chat and pick up our literature. Oakwood Barham is probably the greatest concentration of families with child actors anywhere, and since that is one of our areas of expertise, there were some good match-ups.

Some new mileage figs to use on 2014 returns: Business 56 cents/mile Medical: 23.5 cents/mile Charitable: 14 cents/mile Moving: 23.5 cents/mile

15 April approaches apace. If you're not going to be able to file in a timely manner, contact us to file an extension for you.

About the worst thing you can do if you have a tax problem is to do nothing at all. The wheels of the Internal Revenue Service will continue to turn, and without working on a solution, the problem will only get worse. We can help with most tax problems.

What is HOH?? No, it is NOT an alternate spelling for what Santa says when he comes down the chimney. It is an IRS filing status-- an acronym for Head of Household, a filing status that can be beneficial, but is often chosen erroneously. You must be not married, and you must pay at least half the household expenses for a qualified dependent--and there are some other tricky rules which also apply, but we know all the tricks.

The staff and I all lived through the 15 October crunch--now, just have to catch up on what got delayed therein, and then the work load will be modest until corporate zero-out chores in December. Last night, downed a bit of good scotch and went to bed nice and early. Going to see "Room" tonght, which has received stellar pre-release reviews. Might also down a bit more scotch after the movie.

Just confirming that our preparers know their way around both the world of acting and tax prepartion, our colleague Emily has just booked a national Walmart commercial which will run in the holiday season.

Two more days before the federal tax deadline, and permit me to lament the fact that many of the world's population of flakes have emerged and nudged their way onto our phones, our lobby and our Internet, carrying the miserable detritus of their tax records proudly, and asking for reassurance that we can easily handle their simple little returns in the few hours remaining. Dear Flakes, it is extension time for you..........

One month to go before we hit that 15 April deadline to file personal income taxes. The staff and I are hoping not everyone will wait till too near the end, and I urge everyone who has not yet filed to consider getting your material in ASAP, whether you work with us or someone else, earlier is definitely better.

Today, ActorsTaxPrep was a part of the annual Oakbrook Apartments Expo. Had several hundred folks through the expo space, and numerous people stopped to chat and pick up our literature. Oakwood Barham is probably the greatest concentration of families with child actors anywhere, and since that is one of our areas of expertise, there were some good match-ups.

Some new mileage figs to use on 2014 returns: Business 56 cents/mile Medical: 23.5 cents/mile Charitable: 14 cents/mile Moving: 23.5 cents/mile

Both the Standard Deduction and the Personal Exemption Amounts have been increased by the IRS for the2014 filings. Standard is $6,200 for a single person and the exemption is $3,950. Lots of other changes too--will post additional data over the next few days.

As of today (20 Jan) the IRS will begin accepting 2014 tax returns, so if you're all ready to get yours prepared, than you're ready, we're ready, and the IRS is ready. Call for an appt.

Tonight, we have the first tax seminar of the new year, speaking to the parents of child actors, arranged by The Actors Fund and held in the SAG boardroom. First of many.

15 April approaches apace. If you're not going to be able to file in a timely manner, contact us to file an extension for you.

About the worst thing you can do if you have a tax problem is to do nothing at all. The wheels of the Internal Revenue Service will continue to turn, and without working on a solution, the problem will only get worse. We can help with most tax problems.

What is HOH?? No, it is NOT an alternate spelling for what Santa says when he comes down the chimney. It is an IRS filing status-- an acronym for Head of Household, a filing status that can be beneficial, but is often chosen erroneously. You must be not married, and you must pay at least half the household expenses for a qualified dependent--and there are some other tricky rules which also apply, but we know all the tricks.

For actors who give business gifts, one of the many Actor Myths which abound is that such gifts are fully deductible. But THERE ARE LIMITS. You can, of course, give as much as you want, but you can only deduct $25 per person, per year. No limit on the number of persons, but the dollar amount is firmly fixed.