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Industry and Lifestyle Topics and Trends

IRS warns tax preparers about a new refund scam

CBS News

February 7th 2018

  Only a few days into the tax-filing season, the IRS is sounding an alarm about a new tax scam. Specifically, it's warning tax preparers to be on guard about the scam, which is aimed at stealing taxpayers' refunds by using data compromised in tax preparers' offices.  The agency said it has already received a number of fake tax returns that had accurate taxpayer...

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HOLIDAY HOURS

Compton Accounting

December 4th 2017

Compton Accounting will be closed Monday December 25th and Monday January 1st. There will also be limited staff Friday December 22nd and Tuesday December 26th. Please contact us if you have any questions 844-484-8881. Thank you and Happy

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Charitable Contributions

Compton Accounting

November 15th 2017

Since the holidays are quickly approaching an article produced by the IRS was sent to us about Charitable Contribution facts. I have copied and pasted it below. Please read if this is something that pertains to you. Five Facts about Charitable Contributions With the holidays around the corner, many people will be making donations to benefit charitable organizations....

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How to Save Money at the Grocery Store

Compton Accounting

August 29th 2017

Walking in to a grocery store with a budget is easy, but sticking to that budget can get a little tricky. The stores are good at strategically placing things in the perfect spot to make us buy it. I took it upon myself to do some research about how to avoid spending unnecessary money. First, make a list before you leave the house. It’s important to go into a grocery store with a...

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Congratulations

Compton Accounting

July 25th 2017

Compton Accounting is constantly updating and training our staff in the newest tax laws to better serve our clients. Recently we sent our staff to an Accredited Tax Preparers (ATP) course. In this course the tax preparers learned the existing tax code and the preparation of individual tax returns. Their expertise covers comprehensive 1040 issues including:...

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Vacation Savings

Compton Accounting

July 17th 2017

If a vacation is part of your summer plans, but your budget is tighter than you would like, check out these tips to keep your cash outlay reasonable- without sacrificing any of the fun or adventure. Tip 1: Time your vacation right. When planning your vacation, time your trip so that you arrive when the local kids are either...

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How Are You Putting Your Identity at Risk?

Compton Accounting

June 5th 2017

Throughout the day we put ourselves at risk for identity theft without even knowing it. I recently read an interesting article on msn.com explaining the things we do every day that puts our identity at risk. We will touch base on a few of the most common mistakes I hear about or do myself. We live in such a tech savvy world it is easy to make these common mistakes. First, you...

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Dirty Dozen

Compton Accounting

May 5th 2017

  Recently at Compton Accounting we have had the unfortunate conversation about identity theft. With that being said we wanted to do some research about the scams that are costing taxpayers so much money. If you want to reference this information please go to www.irs.gov and type the “Dirty Dozen” in the search bar. Unfortunately identity theft is everywhere and is...

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Happy Tax Refund

Compton Accounting

March 17th 2017

      If you’re lucky enough to get a tax refund, it’s important to not lose sight of the fact that it’s not a gift from the IRS. It is in fact your hard-earned money coming back to you, which means it’s important to use the money wisely. Here are a few ways to do that. First option, Rev-Up your rainy day fund. It...

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DELAYED REFUNDS!!!

Compton Accounting

January 16th 2017

The IRS expects to issue more than nine out of 10 refunds in less than 21 days. However, the Protecting Americans from Tax Hikes (PATH) Act mandates the IRS hold refunds on tax returns claiming the EITC or the Additional Child Tax Credit (ACTC) until mid-February. The change helps ensure that taxpayers get the refund they are owed by giving the IRS more time to help detect and prevent tax...

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Deductions?

Compton Accounting

December 19th 2016

Many businesses incur costs on wining and dining clients—especially at holiday time. You might be tempted to think that this is an easy tax deduction, but this is not always the case. Here are the rules you need to know to optimize these types of deductions. First, only 50% of your meal expense is deductible. If you hold a customer lunch that includes a business-related...

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Estate Sale Tips

Compton Accounting

October 6th 2016

Estate Sale Tips:   When a relative passes away, leaves their home to live in a nursing facility or just downsizes their estate as they grow older, family members must often decide what to do with the assets of their estate. This is where an estate sale may come into play. If you’re considering holding one, here are some pointers from U.S. News & World Report to...

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Compton Accounting Services

Compton Accounting

August 31st 2016

Good Afternoon, I would like to take this time to go over all of the services that Compton Accounting offers. Compton Accounting does not only specialize in tax returns. We also specialize in: Tax Planning & Preparation, Accounting & Bookkeeping, Full-Service Payroll, Controllership, Business Consulting, Licensing for automobiles, water billing, and notarizing...

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Back to School? Learn about Tax Credits for Education

Compton Accounting

August 12th 2016

IRS Summertime Tax Tip 2016-14, August 3, 2016                                                       If you pay for...

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Seasonal Business Blues

Compton Accounting

July 25th 2016

There are three driving forces behind every successful business; cash flow, credit and creativity. Those forces take on even more importance when it comes to a seasonal business. Here are some helpful tips to use in improving your current business or starting a new one. First, know the numbers. Seasonal businesses are tough, and their owners must be tougher with a thorough knowledge...

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Changes at Compton Accounting

Compton Accounting

June 15th 2016

Compton Accounting has gone through many changes and updates in the last several months. Our first change has been offering portals to our clients. Portals are a more secure way to exchange information. Our goal is to have as many clients as possible on portals, so that we can communicate with everyone more securely. If you can login to an email, you can use a portal. It is that easy. You can...

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IRS Scams

Compton Accounting

May 13th 2016

We have been receiving a lot of phone calls from our clients stating that they have been getting phone calls from the IRS stating that they owe money. We are here to inform you that these phone calls are 100% fake. There is no truth to these phone calls at all. The caller will call your phone and claim to be an employee of the IRS. They are very convincing when they call. They use...

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Simple Financial Tips

Compton Accounting

April 27th 2016

 There are many ways to save and properly spend your money. At Compton Accounting it is our job to help you use your money wisely. I found some helpful tips to help you get the most out of your paycheck. Now if you are just starting out on your own it is important to start saving for your retirement sooner rather than later. I know most of us think that when you’re 25...

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How to Use Your Refund

Compton Accounting

March 22nd 2016

Many of us view a tax refund as ‘bonus’ cash; however, it really should be utilized just as any of your other income would be and managed purposefully. So if you’re anticipating a tax refund this year, make sure you have a plan for your money. Prior to receiving a tax refund, think about your personal financial situation to determine what your needs are. First you...

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IRS ALERT

Compton Accounting

February 19th 2016

Compton Accounting just recently found out that there is a new IRS scam happening right now. USA Today Reporter Kevin McCoy reports that email and texting scams are designed to trick U.S tax payers into providing personal data. So far this year 400%, the IRS warned Thursday in a renewed consumer alert. The Schemes involve “phishing” messages designed to trick taxpayers...

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Timely Tips for Tackling Taxes

Compton Accounting

January 25th 2016

Tax time is quickly approaching, you may have started receiving tax information in the mail. Taking action now is the best way to avoid the stress associated with last-minute tax filing. By taking the following steps, you will be breathing a lot easier when tax time comes. First, collect and consolidate your information. Gather all of your tax-related documents in one place. These...

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How to Prevent Holiday Headaches

Compton Accounting

December 9th 2015

It’s time to celebrate the holidays again. We all know that this time of year can be very stressful. Between cooking a big meal, running to numerous holiday parties, sending Christmas cards, and not to mention all of the holiday gifts you buy for your family and friends. No wonder why you are so stressed out. So we here at Compton Accounting have come up with some helpful hints to make...

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Year End Planning

Compton Accounting

November 19th 2015

Good Afternoon, It's getting to be that time of year again. Tax time is quickly approaching and it's time to start preparing for the upcoming tax season. If you have any questions about what you need to do for this tax season please give us a call and we will be happy to help you. Compton Accounting is also taking pre tax appointments for anybody who has questions or just...

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Bettering Ourselves

Compton Accounting

October 15th 2015

Good Morning! I hope everyone is enjoying this beautiful fall weather. I wanted to update everybody on how we are bettering ourselves to serve you more efficiently. I'm not sure if everyone is aware of all of the training and conferences that our staff goes through, to make sure we are as up to date as possible for all your tax...

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Should Your Hobby be Your New Business?

Compton Accounting

September 29th 2015

You love to [insert hobby] but does that mean you should make it your livelihood? Here's what you should consider before making the leap. Am I up for the challenge? Starting a business based on  your hobby can be deeply fulfilling, but it almost definitely won't be easy. If you're looking for an escape, a life break, or simply a less effortful alternative to a straight job, then...

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PHONE NUMBER CHANGE

Compton Accounting

August 27th 2015

I hope everyone has had a lovely summer so far. Here at Compton Accounting we have been busy with many changes trying to update our systems and our client procedures. The first major change that is going to happen is we are updating our phone system. We have been working closely with a phone distributing company that will help us update our system so that we as a firm will run more...

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Supreme Court Legalizes Same -sex Marriages in All States

Compton Accounting

July 31st 2015

Abstract: In late June, the Supreme Court determined that same-sex couples can exercise the fundamental right to marry in all states and that there is no lawful basis for a state to refuse to recognize a lawful same-sex marriage performed in another state. This article describes the decision's impact on many same-sex couples in regard to state taxation, estate planning, and a wide variety of...

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FEIN?

Compton Accounting

June 25th 2015

We get a few clients calling and asking about FEIN numbers. The typical questions we get are: What is it, Do I need one, How do I get one? According to www.irs.gov "An Employer Identification Number(EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entitiy. Generally, businesses need an EIN." Before applying...

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SCAMS, SCAMS, SCAMS

Compton Accounting

May 18th 2015

The Internal Revenue Service has issued a consumer alert recently providing taxpayers with tips to protect themselves from email and telephone scam artists pretending to be with the IRS.   These callers/emailers may demand money or may say that you have a refund coming to you and request your private information. DO NOT give them any information, this is a SCAM. They may...

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Record Keeping

Compton Accounting

April 28th 2015

At Compton Accounting we get a lot of questions regarding how long our customers should keep their tax documents. If you look at some resources they will tell you to save up to 3 years. However, Compton Accounting recommends that you save up to 7 years, and here is the reason why. According to www.irs.gov the time period to file a claim for a credit or refund is generally 3 years from...

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Vehicle Licensing Available Here

Compton Accounting

March 20th 2015

A service that Compton Accounting has added to its criteria is licensing for cars and trucks. We not only can do registration stickers, but at the Altona location you can do title and registration work as well. So no more going to the DMV, taking a number and waiting. However there are small convenience fees, such...

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Portal Reminder

Compton Accounting

February 16th 2015

Good Morning everyone! I just wanted to give a quick reminder that we are offering all of our clients the opportunity to use portals for their tax returns and other financial documents. They are easy to use and 100% secure. All you have to do to use the portal is have an active email account, and give us your email when you bring us your information. After that we will set up your portal. You...

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Tax Season Preperation

Compton Accounting

January 16th 2015

Good Morning I hope everybody is keeping warm durning these cold wintery months. I know here at Compton Accounting we have been busy prepping the office for tax season to make sure that everything runs as smoothly as possible. However we do need some help from you to make sure that we get everything done and mailed on time for tax season. For example we need all of your 1099 information so we...

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Merry Tax Season

Compton Accounting

December 15th 2014

Season's Greetings, I hope all is well with everyone. As most of you are aware tax season is quickly approaching. I know here at Compton Accounting we are busy preparing for yet another busy tax season. We have been gathering, printing, and stuffing envelopes full of tax information for clients to make sure that you are as up to date as possible on all of the new tax information. If you...

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Corporate Meeting Minutes

Compton Accounting

October 27th 2014

We have another new service that is offered at Compton Accounting. Recently we have started doing corporate meeting minutes for businesses. You may ask, "Why does my company need these?" Well the answer to that is simple. Minutes protect the corporation by legally documenting all the decisions made by the corporation and the shareholders that it is...

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Fall into Portals

Compton Accounting

October 3rd 2014

          Good morning, I hope everybody is having a wonderful day on this lovely Fall morning. We here at Compton Accounting have been very busy updating our systems, and cleaning up some old clutter we had lying around. So we can get things in tip top shape for tax season which is just around the...

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Keeping Up with the Times

Compton Accounting

August 13th 2014

Good Morning, it's a beautiful day at Compton Accounting! We are eager to announce that we are trying to keep up with the times and the continuously changing technology. We are in the process of creating new portals for all of our clients to access their records more securely and efficiently. These portals will give each client access to any document requested and you can access it at any...

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It's a New Brand Day

Compton Accounting

March 24th 2014

It's a New Brand Day at Compton Accounting! We are excited to announce the recent launch of our firm’s new brand. We’ve been working very hard to enhance our website, develop helpful new client communications, and give our firm a facelift. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we...

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