Volz CPA, Inc. Newsletter
July 2016
 

WEBSITE ABOUT US PAYROLL RELIEF TAX CENTER

Spring has sprung, Fall has fell, Summer's here and it's hotter than...last year. Even the Red's are warming up a little bit. Remember to take advantage of the Ohio Back to School Sales Tax Holiday detailed below.

Protect Your Financial Information

Scams and identity theft are running rampant. Here are a few simple rules to follow.

If it's too good to be true, it usually is. The "Wealthy Prince" emails and telemarketing scams typically start with a well-meaning and trusting victim that gets deceived.

Keep personal information private. Never give out credit card, banking, social security or other personal information over the phone unless you initiated the call. All personal information should be kept private unless giving it to a trusted source.

Shred unwanted personal information. Bank statements, credit card statements, receipts and other personal financial information should be shredded immediately after use.

Don't buy from an unfamiliar company. If the product or service you are buying is unfamiliar, research the company first before providing payment. If the person tries to rush you into a decision, that could be a red flag.

Ask for written verification. If someone calls you about an offer or a charity, always ask for and wait until you receive written material. Ask for specific information about the salesperson, including name, business identity, telephone number, address and business license number before conducting business.

Starting a Checking or Savings Account

Starting a checking or savings account is an important step for managing your finances. And, once you know the basics, it's a simple thing to do.

The Consumer Financial Protection Bureau (CFPB) offers a checklist to help guide you through the process (PDF format), including questions to ask your banking representative.

For banking information and resources, including electronic and mobile banking, go to USA.gov.

REMINDERS:

Ohio will have a sales tax holiday from Friday, August 5, 2016 at 12:00 a.m. to Sunday, August 7, 2016 at 11:59 p.m.

During the holiday, the following items are exempt from sales and use tax:

* An item of clothing priced at $75 or less;

* An item of school supplies priced at $20 or less; and

* An item of school instructional material priced at $20 or less.

Items used in a trade or business are not exempt under the sales tax holiday.

Click here for more info.

AND...

A reminder to all commercial activity tax (CAT) taxpayers that the second quarter 2016 CAT return is due August 10, 2016. If we prepare your CAT returns, please get your sales information for the quarter ended 06/30/16 to us as soon as possible.

VISIT OUR WEBSITE

The Dog Days have begun, so make sure you drink plenty of water, stay in the shade and don't run any marathons until September.

For Inquiring Minds --The expression "dog days" refers to the hot, sultry days of summer, originally in areas around the Mediterranean Sea where the coincidence of very warm temperatures at sunrise (i.e., the heliacal rising), of Orion's dog, the dog star Sirius, led to the association of this phrase with hot weather.

Peace,

James A. Volz, CPA
VolzCPA, Inc.
jim@volzcpa.com

9900 Carver Road Suite 100
Cincinnati, Ohio 45242

Phone: 513-794-1551 Fax: 513-794-1552