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We are part of International Network of
Accountants and Auditors (INAA).
As proud sponsor for 2007 INAA Mid-term
General Meeting, we had delegates from 30 countries attending
this conference held on May 10th and 11th of 2007 in the
capital city of Beijing, People's Republic of China.
In May of 2007, INAA Board of Directors
have appointed William A. Hanlin, Jr. as the chairman for
INAA's China Task Force to explore opportunities in expanding
the network inside China.
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Senior Staff Accountant
At least 2 years of experience in individual and entity
income tax preparations
2-3 years of experience of junior staff accountant with a
CPA firm
Experience with financial reporting and/or auditing
Experience with Quickbooks a plus
This position involves supervising junior staff accountant
to ensure the productivity and meeting deadlines on
projects. Work with partner/manager to complete the jobs at
hand on a timely basis. This position will work directly
with our valued clients to provide quality services and
accurate information. The candidate must be detail oriented
and a self-starter.
You must be eligible to work in the U.S. Please send your
cover letter, full resume with references to:
master@hanlinmoss.com or fax to: 206-623-3222.
Recruiters: DO NOT CALL PLEASE.
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2007 Tax Updates
Tax Organizer: in preparing for the upcoming tax
filing season, we are sending out tax organizers to our
clients in the next couple of weeks. The tax organizer
is a wonderful tool for gathering tax information.
Prior year tax information is displayed as a reference for
what might be needed for current year documentation.
With this tax organizer, we are also sending the recent
tax developments:
New requirements for cash
contributions to charity:
a taxpayer may not
deduct a cash contribution, regardless of the amount, unless
he/she keeps one of the following: (1) A bank record that
shows the name of the qualified organization, the date of
the contribution, and the amount of the contribution. Bank
records may include: a cancelled check, a bank or credit
union statement, or a credit card statement; Or (2) A
receipt (or a letter or other written communication) from
the qualified organization showing the name of the
organization, the date of the contribution, and the amount
of the contribution.
Transportation (for tax
year 2007):
Business mileage rate: 48.5
cents/mile
Charitable mileage rate: 14
cents/mile
Medical and moving mileage
rate: 20 cents/mile
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2007 Tax Updates - continued...
As we have mentioned in our
organizer letter, the IRS audits are up significantly in the
past two to three years. We want to alert you with some of
the areas that may affect you in the event of an audit by
the IRS:
Schedule C Losses:
If you are self-employed and have reported losses in three
of the last five years, be aware! Your activities for this
Schedule C are considered a hobby by the IRS auditor unless
you can prove otherwise. The losses from these activities
could be denied later, and result in additional taxes plus
interest and possible penalties.
Home Office Deduction:
Many people claim a home office deduction but are unaware of
the requirements for claiming such a deduction. In order to
qualify for a home office deduction, this space must be used
EXCLUSIVELY for business purpose. If the taxpayer is an
employee and claims this deduction, it must be for the
convenience of the employer.
Auto expenses, business
meals and travels:
Keep a mileage log or prepared to be denied the deduction!
A diary/appointment book with dates, name of the business
contact and purpose of the trips will be helpful tools to
substantiate the deduction. You can deduct business meals
if you keep a receipt with date, amount, and business
purpose clearly documented. For business travels (seminar
or conferences), airfare is deductible only if main purpose
of the trip is for business. Hotel and food expenses are
pro-rata deduction based on business and non business days
of the trip.
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