THANK YOU FOR YOUR
There are a lot of CPAs to choose from and we appreciate you & your
business and the opportunity to give you solid accounting and tax
guidance every year.
If you have a question or comment about our service please call us
at 317-674-3335 and leave a message if we are not there.
OBAMACARE TAX IMPACTS for 2014
With the next election coming up there will
be changes to ObamaCare that may impact you and your family and
possibly your business.
Join me next month for a live
WEBINAR where I cover these changes and how they may impact your
family or your business.
Click here to register for the
Webinar or call our offices at (317) 674-3335 for details.
FREE REPORT on
RETIRING in this ECONOMY & MARKET
Click here to request and download my free report on
the Top 13 Mistakes Made by Retirement Plan Investors!
3 Tips for Safeguarding
Your Business & Personal Tax Records
the Atlantic hurricane season will be over in a month or so I
(and the IRS) want to encourage individuals and businesses to
safeguard their tax records against
natural disasters as well as common accidents, by
taking a few simple steps.
Here are 3 tips to help you prepare in case an accident or
1) Backup Your Records Electronically
You should keep a set of backup records in a safe place
away from the original set. Keeping a backup set of records,
bank statements, tax returns, insurance policies, etc is
easier now that many financial institutions provide statements
and documents electronically.
Even if the original record is only available on paper, it can
be scanned into an electronic format. With documents in
electronic form, taxpayers can download them to a portable
backup storage device such as an external hard drive, CD or
DVD that you can take with you in the event that you need to
2) Document Your Valuables
Taxpayers should photograph or videotape the contents
of their home, especially items of higher value. A
photographic record can help an individual prove the market
value of items for insurance and casualty loss claims. Photos
should be stored at an outside location.
To document your valuables, the IRS has a disaster loss
workbook, Publication 584, Casualty, Disaster and Theft Loss
Workbook, which can help taxpayers compile a room-by-room list
3) Update Your Emergency Plans
Emergency plans should be reviewed at least once a year.
Personal and business situations change over time as do
preparedness needs. When employers hire new employees or when
a company changes functions, plans should be updated and
employees should be informed.
NOTE: If we are doing
your taxes we have copies of your return but not copies of all
your support documentation like physical receipts, bills,
invoices and so on. If you scan documents a simple
strategy is to copy or burn them to a flash drive or CD/DVD
and store it offsite in a safe deposit box, storage unit or
give it to a trusted family member or relative who doesn't
live with you. Online backup services like Carbonite
will also work for electronic files. Either way that 2nd
or backup copy will come in handy if you ever need it.
Theft Scams Are
On The Rise!
IRS has issued several consumer warnings about the fraudulent
use of the IRS name or logo by scamsters trying to gain access
to consumers’ financial information in order to steal their
identity and assets.
Scamsters will use the regular mail, telephone, fax or email
to set up their victims. When identity theft takes place over
the Internet (email), it is called
The IRS does not initiate taxpayer communications through
email. Unsolicited email claiming to be from the IRS, or from
an IRS-related component such as EFTPS, should be reported to
the IRS at firstname.lastname@example.org.
Additionally, clicking on attachments to or links within an
unsolicited email claiming to come from the IRS may download a
malicious computer virus onto your computer.
Learn more about
Learn how to
protect your personal information.
You may also report instances of IRS-related phishing attempts
and fraud to the Treasury Inspector General for Tax
Administration at 1-800-366-4484.
always if you have a tax, accounting, bookkeeping or
investment type of question, feel free to give me a call here
at the office at 317-674-3335.
If you are not a client already, I do offer a Free 30-Minute
Private Consultation to discuss your situation and see if I
Regards, Wile E. Coyote
ACME Accountants & CPAs
9999 Keystone Crossing Parkway,
Noblesville, IN 46060