Tax Law (Questions About Taxes)/Expert Profile


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Expertise

I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Association of Tax Professionals, and the Institute of Management Accountants. Visit my website at www.johnstancilcpa.com. Also visit my blog, www.thetaxdocspot.com.

Experience in the area

I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper. I have prepared taxes for over 30 years.

Education/Credentials

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill College

What do you like about this subject?

I enjoy the dynamic nature of taxation, and the fact that it is always changing. I also enjoy helping citizens minimize their taxes, so they only have to pay the legally required minimum amount.

What do you still hope to achieve/learn in this field?

One can never know all the tax law, so I hope to increase what I do know, and keep up with relevant changes in the law.

Something interesting about this subject that others may not know:

It was not until WWII that the income tax became a mass tax. Prior to that time, only the very wealthy paid income taxes.

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    K = Knowledgeability    C = Clarity of Response    T = Timeliness    P = Politeness
UserDateKCTPComments
ken11/07/0910101010Thank you again for the prompt and .....
ken11/07/0910101010Clearly understands the situation and responded promptly .....
Brenda11/06/0910101010 
Joanne11/05/091010 
Jeff11/05/0910101010 

Recent Answers from John Stancil, CPA

2009-11-07 Income taxes for co-owned rental property:

Lincoln, Thanks for your question. Since it is not a partnership or an LLC, it is simply a joint venture. Each of you reports half the revenue and half the expenses on Schedule E of your 1040.

2009-11-06 tax treatment of services that may include housing:

Ken, Thanks for your question. First off, under the arrangement you have outlined, he would not be an independent contractor, but an employee. Since he is providing management services and is required

2009-11-06 Disability Income and FICA Tax:

I can't speak for the insurance company, but my wife is on disability, I have done numerous returns that included disability income and none of them have ever paid FICA tax. I don't have a citation for

2009-11-06 Effectively connected income in USA:

Amitabh, Since the statute of limitations does not begin until the return is filed, they are required to file for all past years. Filing for the last three (for example) could trigger an investigation

2009-11-06 contract work tax filing:

Brenda, Below is my original answer. Please ignore the "4" after January. Sorry for any confusion. Thanks for your question. You will need to file Schedule C with your 1040 to report your income

 

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