Standard Mileage Rates have decreased for 2016!!

Standard Mileage Rates have decreased for 2016!!

Standard Mileage Rates have decreased starting January 1st, 2016

The IRS shows the following standard mileage rates for the use of a car, van, pickup or panel truck. 

• Business miles driven are 54 cents per mile, down from 57.5 cents in 2015

• Miles driven for medical or moving purposes will be 19 cents for 2016.  This is down 4 cents from 2015.

• Miles driven in service of charitable organizations is 14 cents per mile and remains the same as 2015.

If you are claiming accelerated depreciation on your vehicle for business use, or have claimed Section 179 for your vehicle, you may not use the business standard mileage rates.

Note:  You always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.  Please contact me should you have any questions.

You can reach me at Danita Romero, Accounting Services
925-452-8230  danitar@danitaromero.com

Fraud or Embezzlement....  It's Personal!!! 

A few weeks ago I was in the South Bay Area doing some Forensic Accounting for a client who had a pretty good idea that their employee was padding their time card.  I explained that most commonly when employees are embezzling it just isn't in one area and we should inspect other financial arenas.  I was assured that this employee was really nice....  and a friend...  and the owner felt it was just payroll.  After analyzing their accounts, documents and files it unfortunately came to light that the employee indeed had been embezzling.  To the tune of close to $30k.  The owner was Shocked!  And felt Betrayed!  And got Mad!  And felt like it was their fault for not noticing!  And felt Violated!!!

While I was working on their case I went through a Carl's Jr drive thru.  When I handed my business debit card over to the young man in the window I thought it was odd that he didn't scan my card at the window.  My gut instinct told me something was wrong but the "happy bird" on my other shoulder gave him the benefit of the doubt.  8 days later I noticed charges popping up on my business account for Sports Authority in San Jose for $438.58 and Any Mountain in San Jose for $543.74.  They said the person that charged these goods did so with an actual credit card.  Little did I know that there is a ring out there that takes pictures of, or scans the front and back of the cards and re-creates cards with their names on it to use.  Of course my business account covered the charges, put a stop to the card and reissued a new card but I was MAD!!!  After much research I found out the name of the person that used my card and was told to file with the police department.  The police department proceeded to tell me that they don't have the manpower to go after these small time amounts but did give me a case number for my bank.  Sheesh!  Now it's my turn to feel Violated!!!  

So, since I always try to find a silver lining....  after all this craziness I have decided to write a series of Blogs and e-books.  There are numerous articles out there on credit card fraud and how to prevent it but not much on how a small to mid size company can protect your business from Embezzling.  

Continue to follow my Blogs or FaceBook page so you get this information when it's published.   If you apply the practices and procedures I will share with you it will make a huge difference in your business security.

You can reach me at Danita Romero, Accounting Services 

925-452-8230 or danitar@danitaromero.com

Tax Returns, Extensions and Quarterly Deposits are due 4/15/15

If you need help with your Tax Return, Extension or Quarterly Deposit please give me a call.  

925-452-8230  www.danitaromero.com

As IF you need to be reminded that it's Tax Time!!...

Contact me ASAP to file your 2014 tax return or extension!  

Danita Romero, Accounting Services  Dublin, CA   925-452-8230

What does the Bible say about Paying Taxes?

As most of us are celebrating Good Friday and preparing our minds for this weekend of Easter Celebration, it's hard, as a Tax Preparer, to not think of the upcoming April 15th "tax day".  I believe in preparing taxes to take every possible Legal and Honest deduction.  So I starting wondering what exactly does the Bible say about paying taxes.

As much as we hate taxes, as much as we might feel the tax system is corrupt and unfair, as much as there are far better things our money could go towards - the Bible commands, yes, commands us to Pay our Taxes.  Romans 13:1-7 makes it clear that we are to submit ourselves to the government.  The Bible encourages us to pay taxes.  Therefore, we must submit to God and His Word - and Pay our Taxes.

Now, that being said....  I firmly believe that if we aren't paying some sort of taxes every year we aren't earning any money.  Due to the amount of exemptions you might claim on your W-2 you may not have to pay any extra at the end of the year but how great is it to be able to say you had an income.  We are free to take every tax deduction that is both Legal and Honest.  If the government allows you a tax break, take it.  If there is a legal way you can shelter money, shelter it.  Take that deduction for your children, mortgage, mileage, home business, etc...  Every LEGAL and HONEST deduction should be taken but Illegal and/or Dishonest methods must be rejected. 

In Matthew 22:17-21, the Pharisees asked Jesus a question: "Tell us then, what is your opinion? Is it right to pay taxes to Caesar or not?" But Jesus, knowing their evil intent, said, "You hypocrites, why are you trying to trap me? Show me the coin used for paying the tax." They brought Him a denarius, and He asked them, "Whose portrait is this? And whose inscription?" "Caesar's," they replied. Then He said to them, "Give to Caesar what is Caesar's, and to God what is God's." In full agreement, the Apostle Paul taught, "This is also why you pay taxes, for the authorities are God's servants, who give their full time to governing. Give everyone what you owe him: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor" (Romans 13:6-7).

If you are looking for someone to take care of your returns Legally and Honestly but find every possible tax break then please give me a call.  925-452-8230

Reduce Your Tax Stress!!

Is just the THOUGHT of doing your taxes stressing you out?

Since there are about 3 weeks left to file then you really need to contact me so I can help you Reduce Your Stress! 

My pricing is much less than the big box return company out there.  $200.00 for a return with Schedule A (itemized deductions), $250.00 includes the Schedule A and Schedule C (Self Employed).  Single taxpayers with standard deductions start at $75.00.  And you will receive your return back with supporting documents in a neatly bound presentation.

www.danitaromero.com 

925-452-8230

How could I have almost let my license renewal lapse???

Last week as I walked through the TSA checkpoint getting ready to fly to Texas the agent looks at me and says....  "Your license is going to expire on the 18th".  I looked at him with this dumb expression and I'm sure said something stupid like Huh?

So trying to figure out why in the world DMV didn't mail me the paperwork I realize that 3 years ago, when I moved, I had failed to file a change of address.  Well that was just dumb of me.  No wonder I didn't know I was getting ready to run out of time.  So here I am rushing off to DMV to make sure I get my registration updated so all my OTHER licenses don't get halted.  Like being a Notary, Loan Signing Agent and most of all being able to file tax returns.

I'm sure I'm not the only one out there that rarely looks at their drivers license.  Do you need a change of address?  It's as simple as filling out the form available on line and putting the new address on the back of your card.  Then when its time to receive paperwork they know how to get hold of you.

And why is it natural for most people to wait until the last minute to take care of renewals or even filing taxes. Here it is the 11th of March and I hear over and over again that people are going to wait until taxes are due to have their returns done because they THINK they owe.  Well here's a thought....  Let me do your taxes now so you KNOW whether you are getting a refund or having to pay.  That way you can postpone the payment date until April 15th but you've got a month to figure out where to get the money.

Yesterday I completed a return for a family that was so worried about having to pay and then I found they were getting a refund.  It could have easily been the other way and they would owe but at least they could have planned for it.

Don't Wait!  Check your drivers license for address or renewal information.  And contact me to get your tax return done.  My pricing is MUCH less expensive than the huge box tax return company and you will have a personal relationship rather than being just a number.   Married filing Jointly with a schedule A (deductions) will run you $200.00.   Single returns start at $75.00   www.danitaromero.com  925-452-8230