You are here:

Tax Law (Questions About Taxes)/Expert Profile

John Stancil, CPA

U.S.

Available

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 35 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. Prepare and file your own taxes at www.1040stancilcpa.com

Experience in the area

I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CGMA, and CFM. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 30 years and have taught accounting and tax at the college level for over 30 years.

Organizations

AICPA, FICPA, IMA, NATP

Publications

The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly.

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.

Average Ratings

Recent Reviews from Users

User	Date	K	C	P	Comments
Robert	02/13/12	10	10	10	I use to have my own tax .....
Jeff	02/12/12	10	10	10
Robert	02/12/12	10	9	10	I looked up John's background and really .....
Christia	02/12/12	10	10	10	Thank you for your answer. It was .....
Rob	02/12/12	10	10	10	Thanks! This specific helped in clearing up .....

Recent Answers from John Stancil, CPA

2012-02-11 personal loan proceeds:

Valerie, Thanks for your question. Loans and their repayment are not income and not included on yours or his 1040. However, interest he pays you on the loans would be taxable income to you. A

2012-02-11 1099-Q and 1098-T:

Julie, Thanks for your question. You do not have to report the 1099-Q since qualified expenses exceeded the amount of distribution. You cannot apply the same costs to the 529 and the education

2012-02-11 Taxes on Forfeited Earnest Money Deposit?:

Since they listed it as non-employee compensation (probably not correct) it would be best to show it on line 21 of the 1040 as other income. Any expenses could only be deducted on Schedule A as miscellaneous

2012-02-11 Form 8332:

Different tax programs handle this differently. Since I don't know what program you use (and if I did I probably would not be familiar with how it handles this), I can't say for certain. But you solution

2012-02-10 Form 8332:

Deb, Thanks for your question. If your son has a Form 8332, signed by his ex wife releasing the claim to the exemption, he can take the exemption. You may need to override or adjust the computer

Ask A Question

Encyclopedia

Browse Answers: