We took a break late Sunday afternoon to celebrate Rory Mcllroy becoming the #1 golfer in the world. Rory is from Holywood, County Down, Northern Ireland – a stone’s throw from Bangor, County Down  – home of your friendly neighborhood CPAs. Here’s Don celebrating with a small glass of Northern Irish whiskey – Bushmills 10yr…

A financial planner friend of Shaw + Shaw, Celeste Mirrasou, provides some information on pending new rules for 401(k) disclosure that could save a lot of people a lot of money.

For more information, here is her article:

http://financialplanningfocus.com/ezine/94-when-small-change-is-hardly-chump-change-

Shaw + Shaw client, The Copper Kettle, stopped by the office today and brought us some Irish goodies to enjoy during Tax Season.

Thanks Anne-Marie and Damien!!

Visit The Copper Kettle at 2240 Taraval Street, San Francisco – it’s an Irish bistro and bakery with Irish homemade delicacies and more….

Effective March 1, 2012, married filers must sign and date separate Forms 2848 – Power of Attorney. Form 2848 is used by practitioners to gain authorization from the client to discuss their account with the IRS.

See link for more information:

http://www.journalofaccountancy.com/Web/20125103.htm

You get what you pay for. We’ve all heard that expression thousands of times. And it is true – to do anything properly takes more time and more skill. Unfortunately for the consumer, this usually results in more expense.

Take for example, California’s latest attempt to get more more tax revenue out its residents – new guidance on property tax deductions. You thought that you could just add up the two amounts you pay each year and take it as a deduction? Think again. Here is a link to the FTB’s new guidance on deducting your property taxes. Enjoy!

https://www.ftb.ca.gov/individuals/Real_Estate_Tax_Deduction/index.shtml

Shaw + Shaw client EcoTensil was just written up in Inc. magazine. Congratulations!

EcoTensil designs eco-friendly utensils and have found themselves doing business in an unexpected market: prisons.

For more details, read the article:

 http://www.inc.com/magazine/201202/ecotensil-cutlery-prison-bound.html

Nice, confusing article about the IRS’s stance on what constitutes income or a rebate. Bottom line is, they still don’t consider your air miles taxable income. How nice of them!

http://www.latimes.com/business/la-fi-lazarus-20120131,0,1163342.column

Hawaii anyone?

If you are an out of business sole proprietor or an individual, you can qualify for a streamlined installment agreement if your tax liability is up to $50,000. Previously the amount was $25,000. Also, the repayment term is increased from sixty months to seventy two months. See more information here: http://www.journalofaccountancy.com/Web/20125068.htm

Shaw + Shaw client Justin Godar just completed his custom built reception desk for us. He diligently worked on the design/build with Renee, meeting her exact specifications. Thank you Justin for all of your hard work! If you are interested in having custom furniture built, Justin is your man.

Check out his website:  http://www.godarfurniture.com/

Congratulations to Shaw + Shaw client Brandon Arnovick, an entrepreneur and music producer, who just received his first platinum album!

Brandon and his partner produced Foster the People’s song “Chin Music for the Unsuspecting Hero” on the single for “Pumped Up Kicks” from their album “Torches”.

Congratulations Brandon, and continued success from everyone at Shaw + Shaw!