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How to Deal With The Recent Stock Market

By Watson CPA Group (Google+) Posted November 22, 2015   The stock market is something that doesn’t make sense to a lot of people. How can my money turn into more by representing this invisible form of ownership? This confusion is why there are people who invest your money for you. But even with that…

Why Your Taxes Should be Fun

By Watson CPA Group (Google+) Posted December 6, 2015   With the recent presidential debates and commotion surrounding the existence of the Internal Revenue Service, taxes are at the center of the public eye. It is low hanging fruit to everyone’s frustrations. Although they’re very necessary, and the fee you have to pay in order…

3 Costly Blunders that Increase the Cost of College Tuition

By Watson CPA Group (Google+)   The times are changing, and earning a college degree no longer provides a guarantee of financial security. With the cost of college tuition outpacing wage increases, college students must be careful to avoid digging themselves into a financial hole in college.   In general, there are some college degrees…

IRS Budget Cuts Devastate the Service

By Watson CPA Group (Google+) Posted September 13, 2014   Has anybody else noticed that the hold time when calling the IRS has gotten worse? Thank goodness we all have wireless headsets so we can run errands, cruise the cubes, run a marathon (with that pumpin’ IRS hold music), etc. Who knew that was even…

Electing a Late Estate Portability

By Watson CPA Group (Google+)   Estate portability allows a spouse to transfer their unused estate and gift tax exemption to their surviving spouse upon their death.   For example, let’s say that Bob and Susan are a married couple and Bob passed away in 2012. Each estate is allowed an exclusion for estate tax…

5 Tax Snares that Foreign Investors Must Beware Of

By Jason Watson (Google+)   With $26.54 trillion in foreign-owned assets, and $166 billion of annual investments in U.S. businesses and real estate, the United States has become the most attractive country in the world for foreign investors. However, the IRS has several tricks up their sleeve to make sure Uncle Sam gets a piece…

IRS Scam Steals $5 Million

By Watson CPA Group (Google+)   A new nationwide IRS scam has swindled 1,100 people out of over $5 million over the past year. Con artists, claiming to be IRS agents, call taxpayers threatening to have them arrested if they do not pay their overdue taxes.   The con artists have been targeting people seemingly…

Does the Net Investment Income Tax Affect ExPats

By Jason Watson (Google+)   Wondering if US citizens living abroad are subject to the Net Investment Income Tax? So are we! So is everybody else! Well maybe with the exception of the IRS, the court system, and Congress. There has been very sparse guidance from the IRS on this subject, no court has ruled…

When to Recognize Tax on Gift Card Income

By Watson CPA Group (Google+)   Previously, gift card income had the burden of being taxable on the sale of the gift card. Let’s say that you purchased a Starbucks gift card, gave it to your sister during the winter Holidays, and she then went to buy her latte in January. Starbucks recognized the income…

EFile Signatures Via Website

By Jason Watson (Google+)   Here at the Watson CPA group, we try to stay up to date on ways to use technology to better serve our clients. Client portals, online submit forms, blah blah blah.   As nice as it can be to get real-life paper mail, something makes me think that the IRS…