Last year, your cousin’s ex-wife’s gardener’s brother’s dog-walker prepared your tax return.
And…it didn’t quite turn out the way you were expecting.
Perhaps your cousin’s ex-wife’s gardener’s, etc. accidentally added another zero to your charitable donations. Perhaps he/she forgot to include that $15,000 1099 income.
Either way, the IRS would now like to have a little talk with you.
But it wasn’t your fault! How could you know that this tax preparer didn’t exactly know what they were doing? You, in good faith, trusted this person. Sorry to say, but “if the IRS audits you and discovers that the preparer made mistakes – intentional or accidental – you’ll have to pay any penalties and fees.” (Wisebread.com)
If a reputable and professional tax preparer made the mistake, you might have some consolation. According to Investopedia.com, if the mistake “results in fees or penalties, the service provider will often compensate the customer directly.” However, this is not always the case. If a tax preparer requires you to sign a contract, you’d better watch the language of the document you’re signing. Some tax preparers include loopholes to exonerate themselves from paying for any mistakes.
Tax preparation is sort of like the wild, wild west. Anyone can obtain a PTIN (preparer tax identification number) in 15 minutes for $50. When the IRS “tried to implement competency requirements for all tax preparers in 2014,” (CNBC.com), they were told by District Courts that they didn’t have the authority to enforce anything like that.
It won’t help to say, “I told you so.” It won’t help to wonder why you didn’t ask for references from the tax preparer’s other clients. However, all is not lost. I have, in two words, useful advice for you:
Bourke Accounting has a long history of satisfied clients. Not only that, Bourke Accounting offers free consultations. If you’ve been the victim of a tax preparer who was either a little uninformed or downright criminal, your Bourke Accounting expert is available to offer advice. It doesn’t matter how much trouble you think you’re in, your Bourke Accounting professional is more than up to the task. In fact, they enjoy a good challenge (we all know how much accountants love excitement and adventure).
So, before you start thinking of running to a tropical island to escape the IRS, come see what a Bourke Accounting expert can do for you. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Divorce is hard.
According to Uhhospitals.com, stress from divorce ranks right up there with a loved one’s death, relocating and losing a job. Generally, no one takes The Vow with the intention of getting divorced later; we’re looking for our happily ever after, not a messy break-up.
As if divorce wasn’t traumatic enough, it seems that the new alimony tax law, under the Tax Cuts and Jobs Act, is about to make things just a little more difficult for splitting couples starting after December 31st.
Reading the new guidelines on IRS.gov, I was surprised. And that’s putting it very mildly.
Under the old law, the payer was able to deduct the maintenance payments to their formal spouse on their tax return. Ok, that sounds about right. Likewise, the payee had to include those payments on their tax return. Sure, that’s income received. It makes sense that taxes should be paid on it. A sort of balance had been achieved.
However, 77 years after this law was introduced [CNBC.com], it seems that we had to shake things up a bit. Under the new law, everything is different. According to IRS.gov, the new law “states that the alimony…payments are not deductible by the payer spouse or includable in the income of the receiving spouse.”
So just what does that mean to the person receiving payments? A lot less money, according to CNBC.com. Because the payments are no longer tax deductible, CNBC acknowledges that “the amount that’s going to be paid to you is a whole lot less.” In addition, this is probably going to affect how much money is given for child support. The adage is true: you can’t get blood from a stone.
It’s not all bad news, though. Although divorcing couples will have less financial wiggle-room, this new legislation will “raise an additional $6.9 billion over the next decade for the government [CNBC.com].”
If you’re going through a divorce, you have a lot to think about. Besides dividing your record collection, your finances are also going to need a good going over by a reputable expert. Bourke Accounting specialists are well-versed with the new tax laws. Moreover, they can explain the inexplicable in a patient and comprehensible way. Finally, your Bourke Accounting professional is sympathetic and easier to talk to than your favorite bartender.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Being healthy is not just about eating right and getting enough exercise.
Sometimes, there are weird little invisible things that we need to think about, too.
Although we’ve been told that we swallow spiders while sleeping, that’s actually not quite true. It seems that we worry about very exotic things, when the important things are a bit more ordinary.
For example, did you ever stop to think about your coffee cup in the office break room?
Fun Fact: there is a very, very likely chance that you are ingesting bacteria, viruses and – sorry – fecal matter every time you take that little coffee break at work.
Dr. Charles Gerba (University of Arizona professor) did a study back in 1997 regarding office break room rags and sponges. According to Fortune.com, he found that “coliform bacteria were present on 20 percent of the coffee cups before and 100 percent of the coffee cups after wiping with a dishcloth or sponge.” Not only that, but, stated in the New York Post, “research has shown [that] 20 percent of those cups actually carry fecal matter.”
Oh, ew.
So, there you are, dutifully washing out your mug with soap, hot water…and that sponge that’s been sitting in the office break room sink for the last couple of weeks.
Julie spilled coffee on the counter and used the sponge to wipe it up. Steve used the sponge to clean up the microwave after his burrito had a meltdown. Mark used the sponge to get mud off his coat after his dog jumped on him during lunch.
That’s the sponge that you are happily sloshing around your favorite Kentucky Derby mug.
This isn’t your house. You have no idea what happens to this sponge when you leave the break room. You have no concept of the horrors that this poor break room sponge has seen.
But all is not lost! Momsagainstcooties.com posted a study from the University of Florida that proved that microwaving for 2 minutes will kill “99 percent of pathogens” in your sponge (that includes the fecal matter). Of course, replacing your sponge often will help, too. Finally, why don’t you just bring your mug home and wash it with a trusted sponge and dry it with a trusted dish towel?
It goes without saying that the Bourke Accounting offices are clean. Moreover, Bill and Tim insist on switching out the break room sponge once a week (they’ve seen the studies). In uncertain financial times, it’s nice to know that your Bourke Accounting representative will offer Earl Grey minus the E.Coli. Why don’t you come to our pristine office, sip an uncontaminated coffee or tea and see all the things that Bourke Accounting can do for you, your family and your economic future?
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Cousin Carl has been in the bathroom for over an hour and your house uses a septic tank.
Uncle Steve is discussing, citing real evidence, why women never should have gotten the right to vote in the first place.
Aunt Midge keeps telling you how good you look – now that you’ve put on so much weight (complete with belly pokes).
Something smells really good in the kitchen.
It must be Thanksgiving again!
You love your family. But sometimes, this delightful holiday can be enough to send you into the corner with a certifiable mental disorder. How can our own families drive us to a breakdown? More importantly, what can we do to lessen the stress of Thanksgiving? Not being a trained psychologist, I have still taken it upon myself to put together a few Thanksgiving tips.
1) Understand that your extended family might not think the same way you think. You should, like Bill says, avoid talking about religion, sex and politics. The political climate these days has been responsible for tearing families apart. Is it worth an ugly family scene to engage in a yelling match across a festively decorated table? No, it is not. You are not going to change anyone’s mind over the green bean casserole, and, at the end of the day, it really doesn’t matter.
2) Go easy on the alcohol. A lot of us have unresolved family complications. That’s what happens when you’ve spent your entire life around the same group of people. Resentments build up. Remember: in wine there is truth and, just maybe, your uncle doesn’t need to know how angry you are for something he did five years ago. If you’d like to have a civilized, sober discussion in private, you can always do that at another time. Bringing up years’ worth of old wounds while tipsy won’t be good for anyone.
3) Enjoy yourself! I know it makes no sense when I’m telling you to keep your opinions to yourself and to do it soberly. However, these are your people. Presidents will come and go, new offenses will crop up, but this is the group who share your bloodline. Find common ground and appreciate your tribe for who they are. Also, the world is an uncertain place. Spend time with your family and consider yourself fortunate for the privilege of being able to do so.
If, after the holidays, you need to decompress, you can always visit your Bourke Accounting associate. Not only are our Bourke Accounting specialists willing to lend an ear regarding your financial issues, the offices are very soothing – gentle music, lovely décor and, maybe if you’re lucky, Bill’s dogs (they are really calming) will be there. Besides being financial experts, all of our Bourke Accounting colleagues come complete with a sympathetic shoulder to lean on during this hectic holiday season.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon and have a happy Thanksgiving!
Written by Sue H.
If we had a time machine, we could watch ten years younger me walking my dog, Mike, down a snowy, Brooklyn street. If we followed for another block, we’d see Mike abruptly sit, stare up at me (sadly), lift one paw, then the other. I would audibly sigh, pick up my 50-pound dog and trudge back home.
Why? Salt.
With the winter season just on the horizon, we have a lot to worry about. Holiday shopping, icy roads and drunken revelers are just a few. For dog owners, though, you have another concern: ice melt is just not good for your dogs.
Most ice melt contains either sodium chloride or calcium chloride which, according to Accuweather.com, can really irritate your dog’s paws. In addition, Petplace.com warns that after a walk, most dogs lick their feet. The ingestion of salt can “cause oral irritation, drooling, nausea and vomiting.” In large enough doses, it can be fatal.
If you think about it, rock salt is sort of like credits and debits. Great! Two-legged, shoe wearing humans don’t go slip sliding away across the pavement. Bad! Our four-legged, generally non-shoe wearing dogs are going to have sore paws. So, what can you do to make sure your puppies are safe this winter? Here are a few things to consider:
1) Well, shoes. Many companies sell all weather dog shoes. For example, Chewy.com has reasonably priced boots that are sort of cute.
2) If your dog is like mine, shoes will not be an option. In this case, try to avoid places that you can obviously tell have been salted. Try to stay to snow covered grass or places that don’t have a lot of shops and restaurants. Obviously, stores will try the hardest to avoid slip and fall lawsuits and, therefore, go overboard on the ice melt.
3) If your dog won’t wear shoes and you can’t avoid shops, make sure you wipe your dog’s paws thoroughly upon returning home. Petplace.com also recommends a product called Paw Plunger. This thing looks like a cup with a device at the top that is meant to clean all sorts of stuff off a dog’s feet. Honestly, I sort of want one now.
Just like your (well-behaved) children are welcome to come to your Bourke Accounting appointment, so is your dog. Your Bourke Accounting expert will patiently wait while you wipe Roxie’s paws or take off her little shoes. I don’t believe that those boots will be tax deductible (unless you have a guard dog for your scrap metal yard. There are deductions for “business animals”) but your Bourke Accountant associate can find other, legal tax deductions that will have you wagging your tail (I couldn’t resist and I am sorry).
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Most of us have received an unsolicited email regarding a certain Nigerian prince who, inexplicably, needs help getting his money out of Nigeria. I was 22 when I received my first email. It seemed very strange that a prince from another country would seek out a college student, living on Ramen, to secure his money. Naturally, I would be rewarded with millions of dollars for my help.
I hit delete.
Sadly, a lot of people have fallen for this con. According to CNBC.com, by April of this year, these scams were raking “in over $700,000 a year.” Still? I feel bad for these people, I do, but the old concept stands: If something seems too good to be true, it probably is.
Besides the embarrassment that comes from being taken advantage of, there is now a little more salt added to the wound: The Tax Cuts and Jobs Act.
In 2014, Julie Jason, money manager and writing for Timesunion.com, spoke about a person who was scammed. Jason wrote that this person could “claim a deduction on her 2013 tax return as a ‘theft loss’.” Of course, the IRS would have wanted evidence that the victim had contacted law enforcement and couldn’t be reimbursed by insurance. Finally, Jason pointed out that the “loss has to be significant for the deduction to make a difference.”
Cold comfort, sure, but comfort, nonetheless.
With the changes brought about by The Tax Cuts and Jobs Act, even this small bit of solace seems to be a thing of the past. According to Investopedia.com, you once were able to “deduct losses related to a…theft to the extent that those losses were not covered by insurance or disaster relief.” Now, however, the deduction is only “still available if you live in a presidentially designated disaster zone.”
I guess that means if you give your money to a stranger over the internet during hurricanes and wildfires, you might be able to deduct?
At the end of the day, don’t give your personal information, your money or even your time to someone you don’t know over the internet or telephone. If, suddenly, a gorgeous 18-year-old wants to talk to you and, perhaps, borrow just a little bit of money, question the motivation. And keep in mind, there is, most likely, no princes with your name at the top of their “Go-To” list today.
Our Bourke Accounting experts are no scammers. When they say they’ll assist with your bookkeeping and tax needs, you can count on it. If you do discover that you’re a victim of a con game, our Bourke Accounting associates can offer good advice to help you deal with the losses you have suffered. And, as always, Bourke Accounting associates will never judge.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
You’re not going to die this minute (I don’t think), but you are going to die at some point.
Now that we have that uncomfortable fact out of the way, I have an uncomfortable question: do your loved ones know what your final wishes are? Do they know what you want done with your earthly remains?
I started thinking about this yesterday after a conversation with Bourke Accounting’s Tim (hi, Tim!). He mentioned that Craigslist.com offers burial plots for sale. What? I don’t know why this surprised me. Ebay.com sells “haunted” dolls and people have been selling their toenail clippings, so it just makes sense that one could purchase a gravesite on Craigslist.
We all know that we should have a Last Will and Testament. Even if you’re not Bill Gates, you don’t want your children fighting over sentimental objects. You wouldn’t want family at each other’s throats because you neglected to assign who gets that 1950s Mickey Mouse watch. They are going to be sad enough without battling each other.
Assuming that you have the materialistic angle figured out, what about your actual body? My mother wants to be cremated. My dad, a pragmatic man, says, “what do I care what you do with me? I won’t be at the funeral.” However, many people have strong feelings about what will be, effectively, their last statement on this Earth.
For religious reasons, some people don’t want to be cremated. For claustrophobia-related reasons, some people don’t want to be buried. I know a guy who wants to be left in the wilderness to be allowed to ah…return to nature.
Just like directing who gets Grandma’s silverware, it’s important to let your loved ones know what you would like to happen. It wouldn’t hurt to go on Craigslist and buy that plot. To have definitive funeral arrangements already in place will take a lot of pressure off your friends and family.
This is a very hard discussion to have with family. But just like most very hard discussions, this one will benefit everyone involved. They will know your last wishes and you’ll know that you have done your best to alleviate at least some of the stress of your passing.
Like Benjamin Franklin said: Nothing can be said to be certain, except death and taxes. While Bourke Accounting can’t really help you with the legalities of death, they can certainly help you with the tax aspect. Bourke Accounting can advise you about your financial wellbeing and guide you when trying to figure out who gets what. Also, our Bourke Accounting experts might even be able to give you tips about healthy life choices that could extend your life – they’re a pretty healthy bunch.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Kim Kardashian and Kanye West spent $2.8 million on their wedding.
My friend and his wife spent $75,000 on their wedding.
A lot of people have been planning their dream wedding since the first time they saw Cinderella. Coachmen and horses and flowing gowns and pumpkin shaped carriages and smiling faces and crippling debt.
Crippling debt?
Wait, what?
When we get married, we start a new chapter of life. We combine our future and finances with another sentient human. Why, then, do we insist on starting this new chapter behind the eight ball? While this is meant to be one of the best moments of our life, I think that we should also remember that the marriage certificate means a lot more than the lobster tails enjoyed by 50 of our distant relatives.
I am no wedding planner, but I have a few ideas on how you can start your new life without selling plasma to pay for the Godiva chocolate fountain:
1) The dress. According to Theknot.com, the average cost of a wedding dress in 2018 was $1,631. $1,631 for a dress that you will wear (if everything goes well) ONE TIME. Sure, 20 years later, your daughter might wear it, but, come on, she probably won’t. A cheaper dress and some minor alterations are seriously in your best interest (check out this cute one on Amazon.com for 25 bucks). Who cares if it falls apart an hour after the reception? You can keep that scrap of fabric in the freezer with the top of your cake.
2) Open bars. I know, I know. No one wants to hear Aunt Madge – speaking to no one in particular – that yours is a nice wedding, but not as nice as Cousin Marc’s. You want your guests to have a good time and you want to be considered generous. However, there is a difference between generosity and eating Ramen for the next 2 years. Weddings.costhelper.com says that the average cost for an open bar is around $2,800. But wait! That’s not including the $220-$300 (as listed on Thumbtack.com) for the actual bartender. Obviously, give your guests some free drinks, but cut the timeframe. Have an open bar for the cocktail hour before the reception and then leave Aunt Madge to her own devices.
3) Photo booths. Everyone just loves the photo booths with the props, the old school Coney Island exposures and the smiling attendant. Weddingwire.com says that, generally, you can expect to pay about $551 for 3 hours. And that’s on the low side of the spectrum. Or you could just hire the kid who mows your lawn for $200 (plus food and tips) to snap candid Polaroids of your guests. Sure, they won’t be the best quality, but neither will the $1,000 booth pictures of your co-worker in a Viking helmet.
If you are about to embark on a new chapter of your life, you should know that Bourke Accounting is here. The best thing about this is that you can now share a tax preparer with your intended. Our Bourke Accounting associates can guide you through a life of shared expenses and income. It doesn’t matter if your newly minted spouse insisted on both the chili cheese fry and gelato station, our Bourke Accounting experts can make your financial goals a certain reality.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
My friend has a 15-year-old daughter. The 15-year-old daughter has a cell phone, which my friend tracks. My friend knows where her daughter is at all times. My friend checks up on her daughter about 17 times a day.
My friend uses an app like Life360. This sort of application allows parents to see where their child is in real time. Life360 promises that families “can feel free, together.” When I exhibited reluctance regarding the wisdom of keeping teenagers on virtual leashes, my friend had reasons for this practice. She told me that she worries about kidnapping and, if little Sally falls into a well, at least she’ll be located and helped.
If she falls into a well? Where? At Oxmoor Mall?
I understand that parents want to keep their children safe. Wanting to protect children is an admirable quality. That is, after all, a parent’s duty. However, when does it go too far?
In an article from the New York Times, Professor Lorrie Faith Cranor says that she doesn’t track her kids because she wants to avoid having her kids “feel like their parents are following them around all the time.” Likewise, mother Kate Gjaja says that she doesn’t track her kids because “an important part of the growing up process” is to learn “to manage without adult supervision.”
The same article cites research that teenagers “go on to have higher levels of conflict at home” as a result of this parental looking over the shoulder. The child can begin to feel smothered and over-tended when, cliché as it is, they want to see if their wings actually work.
There is nothing wrong with being aware of what your child is doing, whether on the computer or in real life. As a parent, you should know your kid’s friends, you should know (and be able to trust) that your children are where they say they’re going to be. Unless your kid has an unbreakable habit of burning down the neighbors’ birdhouses, maybe laying off the reigns is a good idea.
Make a compromise with your child: have the capacity to track your child, but only use it if your kid is an hour late coming home. That way, there’s a safety net, but you’re still raising your child to become a responsible and self-sufficient adult.
Bourke Accounting won’t track your location. Well, if you forget to bring your W2s during tax season, they might. Bourke Accounting will track your investments, your wages and your bookkeeping needs. You won’t find a better tracking app to help you through the maze of finances than Bourke Accounting.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Bed bugs. Not many things scare me like bed bugs. I have such a phobia about these fairly harmless creatures that it borders on obsession.
It didn’t help when my librarian friend told me that her library had to close for a bit because there was evidence of bed bug activity in a newly returned collection of Dean Koontz books. Even books can spread bed bugs?! I knew bed bug infestations have been on the rise lately, but this is just ridiculous. According to Vox.com, in 2009, there were “11,000 reported complaints in New York City alone.”
With the holidays fast approaching, a lot of us are going to be traveling. Whether you’re staying in the fanciest of hotels or at Cousin Carl’s, you are at risk. And, I hate to say it, but no matter how clean you keep your house you are still susceptible to bed bugs.
Since I don’t want any of us bringing something special home, besides Grandma’s hand knitted sweater, here are a few tips to stay bed bug free this holiday season:
1) When staying at a hotel, it is best to keep your luggage in the bathtub until you have had a chance to thoroughly search the room. Cntraveler.com suggests that you pull back the sheets and take a good look. You are looking for “small black dots that resemble ground pepper.” If you find these, you are looking at the…uh…leavings of bed bugs. Get your bag out of the tub and head on down the road.
2) After you’ve examined the room (and, hopefully, didn’t find anything), you are not out of the woods. Bed bugs don’t fly, but they can crawl into the tightest of places. Also, they don’t like a lot of activity, so they could have been hiding during your initial investigation. Even though you might not have found anything, Pestworld.org suggests that you store your suitcase “in a plastic trash bag or protective cover” for your entire stay.
3) So, you succeeded in not letting the bed bugs bite during your holiday getaway! Good for you. However, you still might not be safe. Pestworld.org says that you should “vacuum your suitcase thoroughly” before throwing it up in the attic. Also, if possible, you should steam your luggage, “which will kill any bed bugs or eggs.” Finally, wash all the clothes you took with you in hot water. Bed bugs don’t like the heat.
Family holiday obligations can be stressful, but now at least you don’t have to worry about taking some new and bloodthirsty friends home!
Bourke Accounting doesn’t have bed bugs. Trust me, I would be out that door faster than you could say “Terminix.” However, if you find that you ended up bringing the little buggers home this year, you’re going to need some help. The average cost of bed bug extermination, according to Homeguide.com, is between $1,000 and $2,000! Our Bourke Accounting associates won’t show up at your house in a hazmat suit, but they can help you with your household budget and your tax preparation. You can use that tax refund to banish the critters forever.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.