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Ronald Simon

Ronald Simon Tax Consultant
Tax Preparation

Recent Posts:

Fort Myers, FL
02/08/2017 at 4:39 pm
Ron's Tax Tidbits........As of January 27th, total returns received by IRS were down 32.9%. Early season refund numbers and dollar amounts are affected by the new law requiring refunds involving the Earned Income Tax Credit and Additional Child Tax Credit to be held until the later part of February. Many taxpayers claiming these credits traditionally file during the opening weeks of tax season.
Fort Myers, FL
02/08/2017 at 12:01 pm
Ron’s Tax Tidbits….WASHINGTON — The IRS today warned taxpayers about groups masquerading as charitable organizations, one of the tax scams for the 2017 filing season. "Fake charities set up by scam artists to steal your money are a recurring problem," said IRS Commissioner John Koskinen. "Taxpayers should take the time to research organizations before giving their hard-earned money.” Be wary of charities with names that are similar to familiar or nationally known organizations. Some phony ch
Fort Myers, FL
02/02/2017 at 9:45 am
Ron’s Tax Tidbits…….WASHINGTON — The IRS today warned taxpayers to watch out for fake emails or websites looking to steal personal information. These “phishing” schemes continue to be on the annual IRS list of tax scams for the 2017 filing season. The IRS saw a big spike in phishing and malware incidents during the 2016 tax season. New and evolving phishing schemes have already been seen this month as scam artists work to confuse taxpayers during filing season. The IRS has already seen email s
Fort Myers, FL
02/01/2017 at 11:12 am
Ron's Tax Tidbits.....Pension Plan Limitations. The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. In general, the pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment. That means that the most you can contribute will not increase this year as the Cost of Living incr
Fort Myers, FL
01/25/2017 at 12:00 pm
Ron’s Tax Tidbets…. Issac Lanier Avant, a resident of Arlington, Virginia, employed by the U.S. House of Representatives as a Chief of Staff since 2002. was sentenced to prison today for willfully failing to file an individual income tax return. Avant did not have any federal tax withheld from his paycheck from 2005 to 2013, until the IRS mandated that his employer begin withholding in January 2013. He was earning $165,000 a year. Avant did not file tax returns until after he was interviewed b
Fort Myers, FL
01/24/2017 at 11:50 am
WASHINGTON — The Internal Revenue Service said today that it successfully started accepting and processing 2016 federal individual income tax returns on schedule. More than 153 million returns are expected to be filed this year. People have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. You can get an extension for filing till October 15, 2017 (not for paying).
Fort Myers, FL
12/16/2016 at 12:14 pm
Ron’s Tax Tidbits………….Looking for that extra deduction, but you’re low on cash. Charitable Contributions made in 2016 paid by credit card are deductible in 2016, even if the credit card payment is in 2017 or later. Not a bad way to take a needed deduction.
Fort Myers, FL
12/16/2016 at 11:58 am
Ron’s Tax Tidbits……Interest rate increases in 2017? If Trump’s tax cuts go into effect and economic numbers continue to trend positive while inflation increases, I believe it’s certain that the Fed will increase rates a minimum of three times in 2017 to stem runaway inflation. The first increase will be in a small one in March 2017 (maybe 25 basis points). This is great news for investors. The bond market should soar.
Fort Myers, FL
12/14/2016 at 12:09 pm
Ron’s Tax Tidbits……….The IRS has issued the 2017 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: • 53.5 cents per mile for business miles driven, down from 54 cents for 2016; 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016; 14 cents per mile driven i
Fort Myers, FL
12/10/2016 at 11:04 am
Ron’s Tax Tibits…………..The federal tax filing season will begin Monday, Jan. 23, the IRS announced today, also noting that taxpayers claiming certain tax credits should expect a longer wait for refunds. The IRS will begin to release the Earned Income Credit and Additional Child Care Credit refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27.
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