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Posted by TJ on Monday April 13, 2009 @ 03:51 PM
[Tags: accounting, taxes, guide]

NYC Board of Education employees are not subject to Form 1127 (Sec. 1127)

I was looking this up for a client and confirmed on phone with NYC department of finance and on their website.

If you were a nonresident of the New York City while working for certain city agencies you are subject to
1127 of the New York City Charter
and must file Form NYC-1127

If you are subject to that law, you are required to pay to the City an amount by which a City personal income tax on residents, computed and determined as
if you were a resident of the City, exceeds the amount of any City tax liability computed and reported by you on the City portion of your New York State tax return.

    Exemptions:
    Section 1127 of the New York City Charter does not apply to:
  • Department of Education
  • City University of New York
  • District Attorneys Offices
  • New York City Housing Authority.
Also, you are exempt if you are a NYC Housing Authority or Transit Police transferred into the New York Police Department.

source: http://www.nyc.gov/html/opa/html/faqs/tax_related_2.shtml



Posted by TJ on Friday April 10, 2009 @ 11:54 AM
[Tags: guide, business, events]

2009 Postal Holidays

* Thursday, January 1 - New Year's Day
* Monday, January 19 - Martin Luther King Jr's Birthday
* Monday, February 16 - Washington's Birthday (President's Day)
* Monday, May 25 - Memorial Day
* Saturday, July 4 - Independence Day
* Monday, September 7 - Labor Day
* Monday, October 12 - Columbus Day
* Wednesday, November 11 - Veterans Day
* Thursday, November 26 - Thanksgiving Day
* Friday, December 25 - Christmas Day
* Friday, January 1, 2010 - New Year's Day

2010 USPS Holidays

* New Year’s Day – Friday, January 1st
* Birthday of Martin Luther King – Monday, January 18th
* George Washington’s Birthday (commonly known as President’s Day) – Monday, February 15th
* Memorial Day – Monday, May 31st
* Independence Day – Monday, July 5th 1
* Labor Day – Monday, September 6th
* Columbus Day – Monday, October 11th
* Veterans Day – Thursday, November 11th
* Thanksgiving Day – Thursday, November 25th
* Christmas Day – Friday, December 24th 2

1 July 4, 2010 (the legal public holiday for Independence Day), falls on a Sunday. For most Federal employees including postal employees, Monday, July 5, will be treated as a holiday for pay and leave purposes. (See section 3(a) of Executive order 11582, February 11, 1971.)

2 December 25, 2010 (the legal public holiday for Christmas Day), falls on a Saturday. For most Federal employees, Friday, December 24, will be treated as a holiday for pay and leave purposes. (See 5 U.S.C. 6103(b).)






Posted by TJ on Tuesday March 31, 2009 @ 07:23 PM
[Tags: taxes, accounting, guide]

Elgible Insulated Garage Doors may qualify for a ta tax credit if installed in 2009 or 2010

The new American Recovery and Reinvestment Act of 2009 was signed by President Obama on Feb. 17, 2009, U.S.

Tax credits are available for qualifying garage door purchases placed in service from Jan. 1, 2009, to Dec. 31, 2010. The maximum tax credit a taxpayer may claim is 30 percent of the cost of each product and $1500 over the lifetime of the tax credit periods (2009 and 2010).

A qualifying garage door installation is all of the following:
* The door must be an insulated residential garage door, installed on an insulated garage.
* The door's U-factor must be less than or equal to 0.30, even if the door contains windows.
* The door perimeter must be able to control air infiltration.
* The door must be expected to remain in service for at least five years.
* The garage must be part of the taxpayer's principal U.S. residence.

As well as receiving the credit a new garage door can also significantly improve a curb appeal and value.

Other Federal Tax Credits for Energy Efficiency includes:

* Tax Credits for Consumers
o Tax credits are available at 30% of the cost, up to $1,500, in 2009 & 2010 (for existing homes only) for:
+ Windows and Doors
+ Insulation
+ Roofs (Metal and Asphalt)
+ HVAC
+ Water Heaters (non-solar)
+ Biomass Stoves
o Tax credits are available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for:
+ Geothermal Heat Pumps
+ Solar Panels
+ Solar Water Heaters
+ Small Wind Energy Systems
+ Fuel Cells
* Cars
* Tax Credits for Home Builders
* Tax Deductions for Commercial Buildings
* For More Information

As you may know, a tax credit is more advantageous than a tax deduction since it decreases your tax liability dollar for dollar, as opposed to a tax deduction which decreases your taxable income subject to tax.

Source: http://www.energystar.gov/index.cfm?c=products.pr_tax_credit



Posted by TJ on Friday March 27, 2009 @ 11:05 AM
[Tags: link, events, economy]

This Saturday 28 March At 8.30Pm You Can save Earth By Switching Off Your Lights For One Hour.

According to a Zogby International online survey 36 million people participated in Earth Hour 2008.

Link: http://www.earthhour.org/home/



Posted by TJ on Wednesday March 25, 2009 @ 04:25 PM
[Tags: taxes, accounting, guide]

Mortgage Interest Deduction

Most people are able to deduct fully the amount of mortgage interest paid during the year as an itemized deduction any mortgage paid during the tax year. Mortgage Interest is deducted on Lines 10-14 of Schedule A of Form 1040.

However, the deduction does have some limitations. The deduction is limited to mortgages you took out after October 13, 1987, to buy, build, or improve your home (called home acquisition debt). You also can only fully deduct mortgages that had balances totaling $1 million or less ($500,000 if married filing separately). If the balances on your mortgages totaled $1,000,000 million or more see the table below to see if you qualify for a partial deduction.
Read More...




Posted by TJ on Tuesday March 3, 2009 @ 12:26 AM
[Tags: business, scam, internet]

Note: This is part 14 in the Job Scam Series.

I just received this another job scam offer. Now I don't usually post them unless a company name is listed in the email. But this email was targeting accountants and being an accountant myself, I figured it's my obligation to post this one. If you have a job scam to submit send it here.

How do I spot a job scam?
1.) The message is for a position that you did not apply for
2.) The message is from or asking for a reply to an email address from a free email provider (ie: @yahoo.com, @gmail.com)
3.)The position is for a work at home job. Let's get real here most of these positions are hard to come by.
4.) The message provides no phone and/or no mailing address
5.) The company does not have a website or the website was created in the last year. Do a whois lookup to see when a domain was created.
6.) The job has few qualifications
7.) The message is written with poor english
8.) A Google search for the company finds little or no history for the company
9.) The email fails to mention you by name. Starts off with generic opening (ie: Dear job seeker, Dear applicant).
*** This list is not all inclusive. Remember if you have to ask yourself if it's a scam it probably is!

What should I do if I provided my information to scammers?
  1. Do not respond to further communications.
  2. If you sent bank Information: Call your bank immediately and tell them what happened. They should be able to change your account number or cancel your account.
  3. If you are still concerned you might want to enroll in credit monitoring such as LifeLock Identity Theft Prevention
  4. You can also file a claim with The Internet Crime Complaint Center (IC3). The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA). They are probably overloaded with these types of claim though, so I would not expect an individual response. You can also contact the Better Business Bureau or your states attorney general's office
  5. Post a comment below with any information you have on this scam to inform other people to try and avoid any future victims. Post the email you received with exact wording if different from original posted so when people search for terms they find this warning.

Yesenia Albert said:

From: Yesenia Albert
Subject: Part-time employment: Accountant (Remote vacancy; 2500 USD/month, No investment)
Sent: Fri 1/23/09 9:43 AM
Dear Job Seeker,

Due to converge of our mutual interests within the boundaries of the employment process, we'd like to manifest provision of the newly opened entry, available for your immediate contemplation.

An expansion process, has inevitably triggered the underscored insurance company to form complementary positions within the market of operation.

We're providing a feasible opportunity to put your legal background to use in the insurance/accounting sphere. Undoubtedly, our ultimate aim is to bring the confort work environment, stimulating a reciprocal leap towards beneficial and justifying operating conditions.

Informational table is presented below, to briefly outline the opening.

* Benefits and privileges:

-Feasible career advancement opportunities.
-Extensive tutelage (probation period) for the first two months.
-Fixed payout, resulting in 2000 USD monthly.
-Outstanding reimbursement plan.


* Requirements:

- Accuracy and leadership in the assigned operations
- Interpersonal and communication skills.
- Swift decision-making.
- Honesty and law obedience.
- Proficient use of Microsoft Office.

* Primary responsibilities:

- Preparing invoices, compiling itemized charges and submitting bills concerning insurance reimbursement enquiries.
- Commencing insurance operations (reimbursement cases).
- Consolidating viable documentation, records and paperwork.
- This is not insurance sales position and you don't need to sell insurance, this is Money Manager vacancy.



If you want to apply please send all your questions and contact information ONLY to e-mail: HRManagerPIC31@gmail.com
We're looking forward to our further communication.

Julie Mathews. HR department.
ID: 2516963186206132183223


If you received this please post a comment so I know posting these warnings are useful.



Posted by TJ on Saturday February 28, 2009 @ 05:32 PM
[Tags: music, lyrics, business]

Hey, I just realized the lyrics to Peter Gabriel's song "Don't Give up" can be used as an anthem for today's economy:

Peter Gabriel said:

In this proud land we grew up strong
We were wanted all along
I was taught to fight, taught to win
I never thought I could fail

No fight left or so it seems
I am a man whose dreams have all deserted
Ive changed my face, Ive changed my name
But no one wants you when you lose

Dont give up
cos you have friends
Dont give up
Youre not beaten yet
Dont give up
I know you can make it good

Though I saw it all around
Never thought I could be affected
Thought that wed be the last to go
It is so strange the way things turn

Drove the night toward my home
The place that I was born, on the lakeside
As daylight broke, I saw the earth
The trees had burned down to the ground

Dont give up
You still have us
Dont give up
We dont need much of anything
Dont give up
cause somewhere theres a place
Where we belong

Rest your head
You worry too much
Its going to be alright
When times get rough
You can fall back on us
Dont give up
Please dont give up

got to walk out of here
I cant take anymore
Going to stand on that bridge
Keep my eyes down below
Whatever may come
And whatever may go
That rivers flowing
That rivers flowing

Moved on to another town
Tried hard to settle down
For every job, so many men
So many men no-one needs

Dont give up
cause you have friends
Dont give up
Youre not the only one
Dont give up
No reason to be ashamed
Dont give up
You still have us
Dont give up now
Were proud of who you are
Dont give up
You know its never been easy
Dont give up
cause I believe theres the a place
Theres a place where we belong

Read More...




Posted by TJ on Friday February 27, 2009 @ 04:07 PM
[Tags: accounting, taxes, business]

Below is a table summarizing the numerous payroll limits for 2004-2009.
Read More...




Posted by TJ on Friday February 27, 2009 @ 03:27 PM
[Tags: news, humor, local]

Hmmm... this happened not too from not too far from me.

http://www.lohud.com/article/20090227/NEWS04/902270400 said:

Troopers: Man covered in red paint was carrying deer parts on I-84 median

By Terence Corcoran
The Journal News • February 27, 2009

EAST FISHKILL - State police arrested a Dutchess County man yesterday after they found him walking on the median of Interstate 84, covered in red paint while carrying a deer head and leg.

Police said that James Carlson, 19, of Hopewell Junction had a spray can or red paint along with the dead deer parts when was found around 11:25 a.m.

"Mr. Carlson could not give any reasonable explanation for walking out on the highway, carrying paint and dead deer parts," police said in a release today.

He was charged with possession of graffiti instruments, a misdemeanor, being a pedestrian on a controlled access highway and disorderly conduct, violations, police said.

He is due March 12 in East Fishkill Town Court.




Posted by TJ on Thursday February 26, 2009 @ 11:19 AM
[Tags: scam, internet, business]

Note: This is part 13 in the Job Scam Series.

This was submitted by an anonymous visitor. If you have a job scam to submit send it here. Include the headers of your message and any additional information you have.
Thanks!

How do I spot a job scam?
1.) The message is for a position that you did not apply for
2.) The message is from or asking for a reply to an email address from a free email provider (ie: @yahoo.com, @gmail.com)
3.)The position is for a work at home job. Let's get real here most of these positions are hard to come by.
4.) The message provides no phone and/or no mailing address
5.) The company does not have a website or the website was created in the last year. Do a whois lookup to see when a domain was created.
6.) The job has few qualifications
7.) The message is written with poor english
8.) A google search for the company finds little or no history for the company
*** This list is not all inclusive. Remember if you have to ask yourself if it's a scam it probably is!

What should I do if I provided my information to scammers?
  1. Do not respond to further communications.
  2. If you sent bank Information: Call your bank immediately and tell them what happened. They should be able to change your account number or cancel your account.
  3. If you are still concerned you might want to enroll in credit monitoring such as LifeLock Identity Theft Prevention
  4. You can also file a claim with The Internet Crime Complaint Center (IC3). The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA). They are probably overloaded with these types of claim though, so I would not expect an individual response. You can also contact the Better Business Bureau or your states attorney general's office
  5. Post a comment below with any information you have on this scam to inform other people to try and avoid any future victims. Post the email you received with exact wording if different from original posted so when people search for terms they find this warning.

Starco company Limited said:

Dear Candidate,
We got your resume and your application for our ad. We are
sincerely sorry to inform you that the position for the Data Entry has
been occupied. Our manager went through your resume
and you have been picked for an alternative Job which is the Payment
Personnel. The Customer Service/Receptionist position has been
occupied and now what we need is a representative and Account
Receivable / Payment Personal manager for the company on financial
issues.
About The Company : Starco company Limited
(Starco group of company)is a U.K Company and with
established, leaders in innovative Art Works Technology, providing art
materials worldwide. We serve the entire United States and a growing
export market. Your primary task for now, as a representative of the
company is to coordinate payments from customers and help us with the
payment process. You are not involved in any sales. Once orders are
received and sorted we deliver the product to a customer. After this
has been done the customer has to pay for the products but in most
cases we make our clients prepay for orders or items they ordered for.
About 90 percent of our customers prefer to pay through Credit Card
Transfers,Cashiers Check , Certified Checks or Money Orders drawn from
the United State based on the amount involved why Only few decides on
Bank Transfers which is not also a Suitable. We have decided to open
this new contract to hire job position for solving this problem. Your
First Primary task (Collection of Payments)
WHAT YOUR NEED TO DO FOR US
----------------------------------------------------------------------
1. Receive payment from our Customers or Clients.
2. Cash Payment at your Bank or Deposit payment and let us know how
long its going to take before it clear the Bank
3. Deduct 10 % which will be your percentage/pay on Payment processed
4. Forward balance after deduction of percentage/pay to any of the
offices you will be instructed to send payment to, You'll have a lot
of free time doing another job, because this is a part time job,
you'll get good income. But this job is very challenging and you
should understand it. We are considering your application because you
satisfy our requirements and we are sure you will be an earnest
assistant till we start running our branch office in your state. For
example if you receive 4000.00 USD and your 10% should be 400.00 USD
Plus your basis monthly salary is 1000.00 USD here are the information
you are to provide then we will get back to you after we must have
gone through it all. Get back to us with information below
information, so that we can add your mailing address to our Regional
database and forward it to our customers as one of our Payment
Personnel and Account Receivable Official.
Please Apply by filling the Requirements Below:
------------------------------------------------------------------------
* Full Names:_______________
* Address:__________________
* City:_____________________
* State:____________________
* Zip Code:_________________
* Home Phone:____________________
* Cell Phone:____________________
* Email:____________________
* Present Occupation:_______
* Sex:______________________

Thanks for your anticipated action. And we hope to hear back from you.
Regards,

Mandrack
Starco company Limited


If you received this please post a comment so I know posting these warnings are useful.



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