Sedona Destination Weddings Sedona Amazing Five Star Review by Natalie W. - https://youtu.be/QEv744aTWRQ
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Watch on YouTube here: The Marriage of Brittany and Tyler Fields - Sedona Weddings
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The Marriage of Brittany and Tyler Fields - Sedona Weddings - https://youtu.be/LHtO80YFsEA
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Houndmouth - Sedona - https://youtu.be/Y8wifV5RYr8
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Watch on YouTube here: United Airlines Man Pulled from Plane on Jimmy Kimmel
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United Airlines Man Pulled from Plane on Jimmy Kimmel - https://youtu.be/eV96Woj0yMs
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They’re back. OK, they never really left. They are tax scammers. And they are once again targeting tax professionals. Specifically, says the Internal Revenue Service, tax con artists have their sights on tax pros who use the agency’s e-services. Phishing for tax pro data: The crooks are sending these tax pros an email asking them to update their accounts and directing them to a fake website. The subject line for the fraudulent email is “Security Awareness for Tax Professionals,” purportedly coming from “Your e-Services Team.” The scam email tells recipients that information was stolen from certain user accounts in 2015 from a state-sponsored actor. It says they should upgrade their e-service account to ensure protection of their information by clicking on the provided login to access their accounts for security upgrade. As with many phishing attempts, the email includes touches to try to convince recipients that the email is real. In this case there’s an IRS logo and an e-services logo. Both of these fake IRS images, warns the real IRS, contain hyperlinks to a URL that’s been verified as a phishing site. The spoofing site poses as an e-services registration page. This latest tax-pro targeting comes as the IRS is strengthening its e-services authentication process and working to improve communications with tax professionals about their accounts. Scammers are attempting to steal e-services usernames, passwords and possibly more personal data through the fake registration page. Recovery steps: If you already clicked on the fake logo and provided your username and password, the IRS wants you to contact its e-services help desk to reset your account. If you use the same password for other accounts, change those ASAP. And as an extra precaution, the IRS recommends you perform a deep security scan on your computers, re-evaluate security controls and stay alert to any other signs of identity theft or data compromise. Additional tax pro security measures suggested by the IRS and its Security Summit partners include: Always use robust security software Use encryption software to protect taxpayer data Use strong passwords and change them often Learn to recognize phishing emails attempting to steal data Never click on links or download attachments from suspicious emails Beware of any communications claiming to be the IRS that are outside normal channels You also can review the agency’s Protect Your Clients, Protect Yourself web page for other steps you can take to protect your tax preparation business and your customers’ information. You also might find these items of interest: Tax scam targets tax professional offices 4 tax cyber security tips from IRS, NY tax officials 2-step authentication system on the way for access to more IRS online services
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Welcome to Part 7 of the ol’ blog’s series on 2017 inflation adjustments. You can find links to all 2017 inflation posts in the series’ first item: Income Tax Brackets and Rates. Today we look at changes to the Alternative Minimum Tax exemption amounts, as well as the previously announced increase in the Social Security wage base.Note: The 2017 figures apply to 2017 returns that are due in 2018. For comparison purposes, you’ll also find 2016 amounts to be usedin filing 2016 returns due next April. The AMT, or Alternative Minimum Tax, forces some taxpayers to do extra work to pay more taxes. That’s why some folks say the AMT is essentially an ATM for the Internal Revenue Service. The Internal Revenue Service’s focus at tax time is how much we made. It is, after all, called an income tax. But some other income issues also are important at tax time and are affected by inflation. Limiting Social Security taxes: Let’s start with the Social Security wage base. This is the amount of money that is subject to the tax that goes to support, you got it, Social Security. Technically, the wage base isn’t indexed for inflation. Rather, the Social Security Administration uses a specific formula to set the maximum taxable earnings level when a cost-of-living adjustment is effective so that Social Security benefits can keep pace with, wait for it, inflation. For 2016, the wage base is $118,500. After several years of stagnation, it will take a dramatic jump in 2017 to $127,200. Those income levels are the maximum amount from which the 6.2 percent Social Security tax is collected. With the increase next year, that means the maximum amount of Social Security tax you could pay in 2017 goes to $7,886.40. That’s an increase of $539.40 over the $7,347 tax max in 2016. Employers match their employees’ tax amounts, meaning the total Social Security tax is 12.4 percent. In dollars that comes to a Social Security tax maximum of $15,772.80 next year, up from the 2016 tax max of $14,694. And once you earn more than the wage base, your boss will stop collecting the 6.2 percent Social Security tax from your pay. No Medicare max: A quick note on the other part of the payroll tax, the Medicare portion of FICA, or the Federal Insurance Contributions Act. This is an additional 1.45 percent from your pay, also matched by your employer. But unlike the Social Security tax, there is no limit on the amount of your earnings subject to the Medicare tax. Regardless of how much you earn, you and your employer will each keep paying that 1.45 percent tax. One more payroll tax note. As part of the Affordable Care Act, aka Obamacare, there’s also a 0.9 percent additional Medicare tax on employees who earn more than $200,000 as single taxpayers or $250,000 if married filing jointly. This Medicare surtax is not matched by employers, but is paid only by the affected workers. The bottom line is that all of us pay FICA taxes on some of our income. Most of us pay FICA on all of our income. And a few folks will pay more Medicare taxes on more of their income. So keep an eye on your earnings. While it’s never fun to pay more taxes, at least if you do, it means that you’re doing pretty well pay wise. AMT’s “rich” history: But wait. There’s more. And by more, I mean more of a chance that the IRS could snag a bit more of your earnings thanks to a special income tax. The Alternative Minimum Tax, or AMT, is a parallel income tax that requires many taxpayers to compute their tax bills twice. First, they use the standard rules to fill out their 1040s. Then they use the AMT guidelines. And they pay the higher amount of those two calculations. The idea for the AMT was born in 1969 in reaction to a few rich taxpayers – and by few, I mean a few: only 155 taxpayers – who back then avoided paying any tax. As originally enacted, the income levels at which the AMT kicked in were not indexed for inflation. Today’s AMT we know (and yes, hate) has two rates, 26 percent and 28 percent, that apply to earnings after you add back some tax breaks you can claim under regular tax filing. Among the tax breaks disallowed under AMT are the state and local tax deduction and dependent exemptions. Avoiding AMT tax trouble: Will you have to do the extra AMT tax math? The first indicator is your earnings. If you make less than the AMT annual exemption amount, you’re OK. Thanks to the 2013 enactment of the American Taxpayer Relief Act, those AMT amounts are now indexed for inflation. Those amounts for 2016 are: $53,000 for single and head of household taxpayers, $83,800 for married couples filing joint returns/surviving spouses, and $41,900 for married couples filing separately. Inflation adjustments for the 2017 tax year bump up the AMT exemption amounts to: $54,300 for single and head of household taxpayers, $84,500 for married couples filing joint returns/surviving spouses, and $42,250 for married couples filing separately. Form 1040 and 1040A instructions have a worksheet you can use to see if you owe AMT. Yeah right. OK, then try the IRS’ AMT assistant. This online tool basically takes the worksheet electronic. The IRS hasn’t updated it yet to reflect the 2016 data, but now that the 2015 filing season is totally over, the agency should get around to tweaking its website for the current tax year. And, of course, if you use tax software like most of us do, it should tip you off if you might face the AMT. Here’s hoping that the inflation adjusted exemption amounts will keep you out of the AMT for both 2016 and 2017.
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