Book Teas Newsletter ReaderUpdates and More | Page 7

Are you looking to consign your books in our store for sell?

New tax changes for 2016 will hurt a lot of folks.
1. W2 matching - You WILL NOT get any portion of your refund (if you're owed one) if you do not report all W2s for the year. In
the past, this wasn't mandated but due to overwhelmingly amount of Amendments in 2015 tax year, the IRS and Dept of
Treasury lost too much money on incorrectly filed returns. If you try to file without all W2s, your return will sit on hold
2. Self-employment - You need bank statements showing deposits and general ledgers or receipt books. IRS is over these "new"
businesses that pop up yearly yet never survive.

Please go to http://www.BookTeas.com/Consignment to find more info on
how to feature your books in our store. Your submissions must come with
one-time $50 consignment fee and a marketing plan to bring about sales.

3. Dependents - You must provide all SS cards to prove your children. If due diligence is not met with proof of children, your
refund will be placed on hold. Live in lovers cannot claim your kids. Only biological parents, grandparents, and siblings. If a child
is claimed by someone that isn't the parent as stated on birth certificate, your refund will be placed on hold.
4. Healthcare - You must file this with your return - no exceptions. Bring your health insurance cards for entire household and
your 1095 A, B or C form. Without it, your refund will be placed on hold
5. Child/dependent care - You must provide receipt for payment rendered along with address, phone number and name of
caregiver. No exceptions.
6. The dept of Treasury must approve of your refund, meaning PLEASE DON'T HAVE ANY OUTSTANDING BALANCES
ANYWHERE! The IRS opening date is 1/23/17, first checks drop 2/15/17.
7. Dependent exemption was raised to $4050 per exemption.
8. Standard mileage rate for business miles has decreased to $.54/mile; miles driven for medical purposes stands at $.19/mile
9. You were required to maintain health insurance without penalty:
Household Size
Income
1
$11,770
2
$15,930
3
$20,090
4
$24,250
5
$28,410

6

$32,570

Plan ahead cuz they're definitely not playing this year.

Every month, one book from the children's section of the store will be chosen for Saturday
Reading Hour. At three different time slots, children ages 4-12 years old will enjoy a nice snack, a
drink, and a nice story. This will promote reading within our children. Go to www.BookTeas.com
and reserve your child’s spot for the January Reading Hour