Sunday, April 1, 2012

Do you have to report tax on cash received for wedding?

You don't report the gifts received from your guests.  A couple can gift $13,000 each for a total of $26,000 filing a joint return.  But stay married!  Don't do the Kim Kardashian thing.

When do i have to file my tax returns by?

You have to "postmark" the envelope in the post office on or before April 17th, 2012. You may ask for an extension but it is not an extension of time to pay your taxes, merely to file the return. You have to estimate the amount you'll owe and pay it with your extension, again on or before April 17th, 2012. In order to know if you'll get a refund and how much, I would have to know more about your income and deductions. If you'd like more information, please write me, I'm a preparer: GreatReturns3x@yahoo.com

Accounting jobs for recent graduates?

Look in the Sunday New York Times Classified Section.  You don't need to look anywhere else.  There are small CPA firms looking for accounting majors who just graduated.  They're called Junior Accountants.  They obviously don't expect you to have your CPA, you need to take the exam and have the practice first.  Don't give up.  Accounting is a great profession.  Contrary to what you may think, they would rather have someone with no experience then someone who has been trained poorly.  Stick with it and Good Luck!

P.S.  In the meantime go out and get accounts for yourself.  You can get small monthly write-up work and year end personal and corporate tax work.  You need money, right?  We're in tax season.  Buy a tax software program, learn how to use it, do simple returns to start.  Try to read the tax code as much as possible.  Most of it comes from experience and repetition.