Mary Lee Kuebler's Blog http://maryleekuebler.com my thoughts and stories Wed, 08 Sep 2010 13:33:59 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 President Obama s Pledge Never to Raise Taxes on Anyone Making Less Than 250 000 a Year http://maryleekuebler.com/income-taxes/president-obama-s-pledge-never-to-raise-taxes-on-anyone-making-less-than-250-000-a-year http://maryleekuebler.com/income-taxes/president-obama-s-pledge-never-to-raise-taxes-on-anyone-making-less-than-250-000-a-year#comments Wed, 08 Sep 2010 13:33:03 +0000 Tax Blogger
On September 12th, 2008, NoBama made the following promise to the American people: “I can make a firm pledge under my plan, no family making less than $250000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” (emphasis added) NoBama repeatedly vowed “You will not see any of your taxes increase one single dime.”"Income taxes and sales taxes are the go-to taxes when you really need to raise a lot of money,”… including the largest tax increase hits the poor hardest the cigarette tax increase: 62 cents!!!!

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]]> http://maryleekuebler.com/income-taxes/president-obama-s-pledge-never-to-raise-taxes-on-anyone-making-less-than-250-000-a-year/feed 25 Management Accounting 8- Relevant Costs http://maryleekuebler.com/accounting/management-accounting-8-relevant-costs http://maryleekuebler.com/accounting/management-accounting-8-relevant-costs#comments Tue, 07 Sep 2010 16:51:15 +0000 Tax Blogger
Ken Boyd, owner of St. Louis Test Preparation (www.stltest.net) presents part eight of his course on Understanding Management Accounting. Boyd points out that students can have success with Management Accounting concepts by making connections to actual examples from business. As a former CPA, College Accounting professor and Auditor, Ken has a wealth of experience to bring to the subject.

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]]> http://maryleekuebler.com/accounting/management-accounting-8-relevant-costs/feed 1 How to File Your Taxes Online : Turbo Tax Tips http://maryleekuebler.com/income-taxes/how-to-file-your-taxes-online-turbo-tax-tips http://maryleekuebler.com/income-taxes/how-to-file-your-taxes-online-turbo-tax-tips#comments Tue, 07 Sep 2010 13:39:13 +0000 Tax Blogger
How to file your federal income taxes online using Turbo Tax in this free video tutorial. Expert: Terry Bowden Bio: Terry Bowden owned his own computer business for six years, and is currently a consultant for an investment company and an avid computer enthusiast. Filmmaker: Reggie Hayes

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]]> http://maryleekuebler.com/income-taxes/how-to-file-your-taxes-online-turbo-tax-tips/feed 16 CPA Instrumets | Free Web Traffic Tips http://maryleekuebler.com/blog/cpa-instrumets-free-web-traffic-tips http://maryleekuebler.com/blog/cpa-instrumets-free-web-traffic-tips#comments Mon, 06 Sep 2010 23:28:13 +0000 Tax Blogger http://maryleekuebler.com/blog/cpa-instrumets-free-web-traffic-tips

There is a lot to learn about Internet marketing but these easy techniques will help you figure out a big corner of it. This article contains a few easy methods that you can use today.

CPA instruments review If you have products that you plan to advertise online, then you should be interested in affiliate marketing. Yes, you can always sell these products yourself, but when you let affiliates do the work for you, you can appeal to a lot more people in the end. The most advantageous thing about starting your affiliate program is that your product is viewed by many different people without your having to pay upfront cash.

You’re only responsible for paying your affiliates when they sell the product. Both the affiliate and the product owner are winners in this situation. Many of the best online marketers that have created and sell their own product, also have created their own affiliate programs. As a matte fact, they wouldn’t have been able to make those high sales if it weren’t for their affiliates. So when you’re focusing on marketing your product on the Internet the right way, then affiliate marketing should be your first choice. Joint venture marketing is a marketing method that most people overlook, but it can really help to grow an internet marketing business, and it works fast. When you’re marketing your products/services, have you ever thought of asking another marketer to help you with your venture? Or rather, you could create a joint venture with that marketer and you’d then split the money you make. It’s a win-win situation for both the parties. But if you want to use this method correctly, you must focus on the specifics of the deal. If you have a product that’s all yours, you might try to find other marketers in your niche that also have products that are just like yours. You might also go after people who publish newsletters or ezines, and who have a certain type of people they target, to see if you can lend them your offer. When entering into a joint venture deal, always put the partner’s earnings over your earnings. So it might be beneficial to offer a higher share of the profits. Why would you consider doing such a thing? Keep in mind that any sales you make through your joint venture deal are coming from a customer base who has offered money for your product. This means you’ll always have the opportunity to offer them products again and that means you’ll get the most from each customer. Basically, a deal like that will cause your business to expand and you’ll earn more profits in a shorter amount of time.

CPA instruments All internet marketers know that the money is in the email list. If you can’t build a list, you likely won’t go anywhere. This is because the cost of acquiring a customer online shouldn’t be underestimated. When you build your targeted mailing list, you’ll have the opportunity to fully realize the lifetime value of your customers. So when you have a product to promote in the future, you can simply send out an email to your list and get back instant returns. 

In conclusion, the best way to get as much as possible out of your Internet marketing campaigns is to try new things every day. The strategies that we discussed above are just the tip of the ice berg; there are many more that you stumble upon.

You can check out the latest marketing product at the CPA instruments website and keep up to date.




]]> http://maryleekuebler.com/blog/cpa-instrumets-free-web-traffic-tips/feed 0 Tax Day Tea Party – Peoria, IL http://maryleekuebler.com/income-taxes/tax-day-tea-party-peoria-il http://maryleekuebler.com/income-taxes/tax-day-tea-party-peoria-il#comments Mon, 06 Sep 2010 13:35:46 +0000 Tax Blogger
Tax Day Tea Party – Peoria, IL April 15, 2009 Protest march from Peoria Public Library to the Peoria County Courthouse. Tax Revolt: The Boston Tea Party helped free us from an oppressive king. This week’s nationwide anti-stimulus tea party demonstrations have a tougher goal: ending the tyranny of big-spending politicians. ‘If you want to stimulate the economy, you just need to reduce the taxes and regulations,” Kansas real estate agent John Todd told the Wichita Eagle, explaining in the clearest terms why he is organizing one of 500 anti-stimulus “tea parties” to take place in cities and towns across America on Wednesday, April 15, Tax Day. If that is the message heard loud and clear from this unprecedented national movement against the liberal Democratic rule in Washington, and if Republicans endorse those tax-reducing principles, then this grass-roots uprising could succeed. What the tea parties aim to accomplish is really a much taller order than gaining independence from a tyrannical monarch and far-away parliament two centuries ago. They are trying to persuade Congress and the states to reject what comes perfectly naturally to them: the opportunity to fritter away a fortune in other people’s money, and the idea that we should spend our way out of this economic downturn. That is not the tried-and-true means of lifting ourselves out of distress. When America suffered the worst recession since the Great Depression at the beginning of Ronald Reagan’s first term of office …

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]]> http://maryleekuebler.com/income-taxes/tax-day-tea-party-peoria-il/feed 25 How an accounting service can help your small business? http://maryleekuebler.com/blog/how-an-accounting-service-can-help-your-small-business http://maryleekuebler.com/blog/how-an-accounting-service-can-help-your-small-business#comments Sun, 05 Sep 2010 23:27:03 +0000 Tax Blogger To begin your own business can be intimidating. When you plan to start your business you worry about marketing, product/services sales, customer’s feedback, profit and loss and, at the end, keeping the door open for business. You have hundreds of things on your dish that you imagine it would be fine to hand over some of the responsibilities, but can you actually afford that comfort?

One task that you could hand over is your accounting services. Yes, perhaps you can handle this by your own, but do you have to? At this point, here are some reasons for hiring out your bookkeeping and how it can assist your small business:

1. Saves you time.

The major tasks covered by accounting services are keeping up with invoices, accounts receivable and payable, payroll processing, insurance, tax filing, profit tracking and debts. These seems to be a lot of paperwork and even you need software and keeping up with all this tasks can take a major portion out of your day.

2. Saves you money.

Hiring a professional bookkeeper or accountant can be fairly costly, but in the long run it can save you money. By having someone whose only work is to handle the books, you can keep eyes on how the business is performing than at the time when you can find the hours to make the books.

Knowing numbers daily or weekly (i.e. what numbers you are bringing in and in what areas) will let you to plan a detailed focus to areas that need better marketing sales, thus increasing the bottom line.

3. Protects you from mistakes.

As a small business owner, you may perhaps know something about taxes, but business tax filing can get complex. A bookkeeper or accountant offers expertise in filing your businesses tax papers and other accounting and bookkeeping tasks. But before you hire make sure they are certified CPAs or EAs. This way you know that the work will be correct. Experience means no or less mistakes than if you did them yourself.

4. Keeps you organized.

Particularly if you hire accounting services to manage all your business paperwork, being organized is vital. Being organized takes the time that you may perhaps use for doing something else.

With a professional and expert service, all of your paperwork will be filed away, thus you can easily locate it when needed. Even though you avail service temporarily, they can set up a system for you which make payroll, timecards, work schedules and employee records easy to reference.

But before hiring, interview the company and know precisely what services you need. Whether you need someone to do tax filing or do you want them to work full-time handling all of your business paperwork? Check and verify the person’s credentials and make sure you trust them. Hiring accounting services can in reality make your life easier and assist your small business grows as long as you know what you need.



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]]> http://maryleekuebler.com/blog/how-an-accounting-service-can-help-your-small-business/feed 0 WHAT IS ACCOUNTING I http://maryleekuebler.com/accounting/what-is-accounting-i http://maryleekuebler.com/accounting/what-is-accounting-i#comments Sun, 05 Sep 2010 14:02:07 +0000 Tax Blogger
www.MazharAccounting.com, What is accounting By Mazhar Iqbal ch. , Free Accounting Videos, Definition of Accounting

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]]> http://maryleekuebler.com/accounting/what-is-accounting-i/feed 9 Income Tax Tips: Saving Money while Earning Big http://maryleekuebler.com/income-taxes/income-tax-tips-saving-money-while-earning-big http://maryleekuebler.com/income-taxes/income-tax-tips-saving-money-while-earning-big#comments Sun, 05 Sep 2010 13:34:44 +0000 Tax Blogger

An income tax is the tax charged on the financial income of individuals, corporations and other legal entities. There are various income tax systems in the financial market. The tax is categorized as progressive or regressive. Income tax charged on individuals is based on their total income which the one charged on the corporate is on the net income. The first step in paying out your income tax is to have some incoming income. Afterwards you need to get your financial information organized. Having done this, you will then have to file your income tax with the relevant income tax organization. This is normally quite difficult for the majority of us and we need the assistance of a tax professional to aid us. They come in many shapes and with different ways of filling for the income tax but the choice as to who can do the filling to suit your needs is up to you.

Income tax time or closing dates is a hectic time for any business. The business man is supposed to ensure the all receipts and all documents concerned are quite in order and are availed to the income tax professional. This aids in knowing the kind of expenses and savings they made over the year or over the income tax duration. Moreover this helps in tax saving in the next financial year with the proper tax modifications. What an individual or a corporation should be aware of is that the income tax they pay makes all the difference, thus no mistake should occur while they are at it.

While paying out the income tax, one should make use of the tax credits as they usually lowers the tax amounts to be paid in a particular tax duration to the IRS. For example if your kid is in a college, then you should claim for an education tax credit. The tax savings you make here can be used to open an education saving accounts for your kid.

Before you pay out your income tax, especially corporate income tax, itemize all your tax deductions. If you have a home office or you make some payments to a charitable organization, one should be able to itemize their tax returns rather than taking the standardized deductions. The entire process is time consuming but with the help of a qualified and a competent tax professional, it can be quite rewarding as you will save enough money while you are at it. You will be able to know exactly what tax you are supposed to pay thus paying less at the end of a particular tax year.

Lastly, one can make use of their tax status to pay less tax. For example if you are married you can opt to file your income tax jointly thus  reducing the standard tax amount. In fact an individual filling status determines the kind of tax exemptions they will get. If you file as a single person the tax will be more than is the case for a married person.




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]]> http://maryleekuebler.com/income-taxes/income-tax-tips-saving-money-while-earning-big/feed 0 Will IFRS take over the accounting world by 2014? http://maryleekuebler.com/blog/will-ifrs-take-over-the-accounting-world-by-2014 http://maryleekuebler.com/blog/will-ifrs-take-over-the-accounting-world-by-2014#comments Sat, 04 Sep 2010 23:27:11 +0000 Tax Blogger

Throughout the years the globalization of businesses has steadily increased causing a growing acceptance of a generalized set of standards for accountants across the world. In April 2001, the International Accounting Standards Board (IASB) was founded to undertake the responsibilities of the International Accounting Standards Committee (IASC) established in 1973. The IASB is made up of fourteen members representing nine countries, including China, Japan, Australia, and the U.S., and is sponsored by a variety of financial institutions, companies, banks, and accounting firms. In 2002, a year after their establishment, the IASB united with the Financial Accounting Standards Board (FASB) to combine their knowledge and develop a set of high-quality accounting standards that would be compatible with all countries in order to successfully carry out international business affairs and their accounting. This set of global accounting standards is referred to as the International Financial Reporting Standards (IFRS). According to the American Institute of Certified Public Accountants (AICPA), 12,000 companies in 113 countries have already adopted the use of IFRS. The U.S. Securities and Exchange Commission (SEC), one of the primary supporters of developing a set of standards to act as a guideline for financial reporting during transnational offerings, has encouraged the adoption of IFRS in the U.S. On November 14, 2008, the SEC announced that they anticipate the United States will adopt IFRS beginning in 2014, along with the roadmap and objectives which need to be achieved in order to meet the estimated timeline.

GAAP vs. IFRS

Although GAAP and IFRS still cover the same issues and provide guidance for accountants and their financial statements, there are many differences that must be adopted during the conversion process. In International Accounting Reporting Standards (IFRS): An AICPA Backgrounder developed in 2008, the AICPA states that the FASB and the IASB have been working to converge the topics from IFRS to U.S. GAAP in order to diminish any issues aroused by the key differences between the two sets of standards. The AICPA also lists some of the significant differences that still remain during the convergence projects:

IFRS does not permit Last In First Out (LIFO) as an inventory costing method. IFRS uses a single-step method for impairment write-downs rather than the two-step method used in U.S. GAAP, making write-downs more likely. IFRS has a different probability threshold and measurement objective for contingencies. IFRS does not permit curing debt covenant violations after year-end. IFRS guidance regarding revenue recognition is less extensive than GAAP and contains relatively little industry-specific instruction (AICPA, 2008).

The IFRS website (http://www.ifrs.com) also mentions these differences along with what they believe is the leading dissimilarity, “IFRS provides much less overall detail…IFRS fits into one book, about two inches thick. By contrast, U.S. GAAP contains approximately 17,000 pages of detailed rules and guidance” (“IFRS FAQs,” 2008).  The U.S. must discover a way to complete their accounting without all of the extra guidelines given by U.S. GAAP. The FASB and the IASB both hope to resolve most of the major issues before the SEC permits publicly traded companies to apply IFRS to their accounting.

SEC Roadmap

Since 1988, the SEC has played a leading role in international efforts to acquire a staple set of accounting standards. A recurring issue that the SEC has brought up is that “issuers wishing to raise capital in more than one country are faced with the increased compliance costs and inefficiencies of preparing multiple sets of financial statements to comply with different jurisdictional accounting requirements” (AICPA, 2008). They pushed for a set of standards which companies with cross-border affairs could obey. On November 14, 2008, the SEC made a public statement and proposed a roadmap which included fundamental guidelines that are required to be completed by U.S. public companies to progress in the adoption of IFRS. On June 17, 2008, President Obama announced that extensive progress was to be made concerning the development of a global, premium set of accounting standards by the conclusion of 2009 (“IFRS FAQs,” 2008). According to the roadmap, between 2011 and 2012, Canadian, Indian, and Mexican companies are scheduled to adopt IFRS and between 2014 and 2016, large accelerated filers, accelerated filers, and smaller U.S. public companies will be required to switch to IFRS (AICPA, 2008). Although the timeline is possible, it is going to be difficult for companies to switch over so quickly and there will be numerous challenges arising during the process. More people need to be informed about IFRS and accepting of the conversion. The adoption requires educated, open-minded business people who are willing to learn and undertake these challenges.

Adoption of IFRS: Challenges and Opportunities

No matter how small the conversion process, many challenges are bound to arise. In an article titled “Guide to International Financial Reporting Standards,” the Center for Audit Quality mentions some of these challenges. Primarily, funding and staffing the IASB with experts who are confident and can function as an “independent standard-setting body” will be an issue. They also bring up the consistent adoption, application, and regulatory review which is necessary to achieve the “true benefits of a uniform set of accounting standards.” Lastly, the Center for Audit Quality brings up a well-known issue that it will be difficult to completely discontinue GAAP while some still believe that U.S. GAAP is the “true gold standard” for financial reporting (2009).

Obviously, there will also be struggles for anyone dealing with financial documents and the accounting profession. The AICPA stated that all parties involved in financial reporting must undertake comprehensive training, colleges and universities will need to add IFRS into their curriculum for students, professional associations and industry groups will need to include IFRS into all of their programs and materials, and lastly, IFRS will eventually be included in the CPA examination (AICPA, 2008). In an article titled “Using IFRS to Drive Business Development,” found in the Journal of Accountancy, Jefferey and Stephen mention that people can become educated about IFRS from conferences held by the AICPA, the IFRS website, a variety of seminars and books, and from different publications developed by the Big Four accounting firms (Deane & Heilman, 2009).

Aside from the all of the obstacles brought on by IFRS, there will also be a variety of opportunities that arise after the conversion process is complete. Most importantly, IFRS will put the U.S. on the same page as the rest of the world when it comes to financial reporting. This will protect U.S. capital markets, make cross-border investments easier, and encourage U.S. corporations to invest around the world. Financial reporting will also become less complex because of the decrease in standards given that IFRS is principle-based (Center for Audit Quality, 2009). Overall, there are a variety of challenges and opportunities developed by the conversion process; however, without a strong commitment by companies, accountants, and any other person involved in the accounting process, it will be very difficult to meet the SEC’s estimated adoption by 2014.



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]]> http://maryleekuebler.com/blog/will-ifrs-take-over-the-accounting-world-by-2014/feed 0 Pay your Income Tax on time, Some useful tips http://maryleekuebler.com/income-taxes/pay-your-income-tax-on-time-some-useful-tips http://maryleekuebler.com/income-taxes/pay-your-income-tax-on-time-some-useful-tips#comments Sat, 04 Sep 2010 13:35:42 +0000 Tax Blogger http://maryleekuebler.com/income-taxes/pay-your-income-tax-on-time-some-useful-tips

Income tax benefits and tax costs will remain a half, so he paid tax on the income statement
trust. Income tax shall be borne by the progressive nature of the system. To help pay for this war effort by the American Civil War, the U.S. government issued its first personal income tax, August 5, 1861, as part of the Revenue Act of 1861 (3% of all income over U.S. $ 800, set aside in 1872).

401 (k) plan deferrals are not taxable income, taxable unemployment purposes. There are several things to answer to you and your tax accountant, it is necessary to think about when it comes to income and payroll taxes. They are taxed on capital gains and passive income, but the exemptions granted by other federal income tax.

If you’re self-employed person, you want to use the $ 9000 cost of health insurance business, such as reducing the income tax. Although 529 plans vary from country to country, they would all be exempt from federal income tax, and that can provide real bottom line to increase its College fund. IRS requires that you keep records that affect the basic and reducing the cost of the tax return deadline is usually die after a certain time, you sell the home.

Do not report your income and / or the cost of their tax? Note: C Corp. sales are not only long-term capital gains tax rate of income tax rates. Owner, organization or sole proprietorships, LLC owners of the business income or losses on their personal income tax return, and LLC is not in itself a separate entity taxable.

Tax preparation fees deducted from the schedule C to save taxpayers’ income tax and self-employment tax. Your payment by credit card, for example, does not cover the amount paid in interest charges to income tax. Many of certain taxes, in addition to general income tax, the federal government and the collective.

You can create a home-based business and quickly receive aid to reduce the costs of tax. Deduction of VAT deduction if you itemize, you have to choose against their own state and local income taxes or their state and local sales tax.

Investments may be transferred between spouses, one advantage of lower tax than others, without incurring capital gains or inheritance tax or stamp duty.

By giving them a higher salary and bonuses may be subject to higher tax brackets. IRS is expected to more than 84 million individual income tax return of more than 50 million returns are expected to be on the Internet.




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