Tax Reform 2017 – Individuals
I have very mixed feelings about the proposed tax law changes. Some of my clients will benefit; others will be left in the dust. Because we live in a high income tax state, there is less to love about this bill than if we did not. The bill only allows for the...
Ho-Ho-Holiday Write-Offs!
Be generous in your holiday gifting and entertainment, but be careful. Otherwise, you’ll be more generous with IRS than you planned.
Oh, No! I Owe!
Best way to deal with owing IRS tax is not to. But what happens when you owe them? Next to selling them your first born, what do you do?
Of Course, I Have a Retirement Plan! Powerball!!
Powerball fever swept across America last week, with a record jackpot of $1.5 billion eventually being split by three winners in the January 13 drawing. Millions lined up for lottery tickets, hoping to realize their dreams of being rich, independent, and carefree.1,2...
What Do You Mean, I Can’t Deduct My Guard Frog!?
The Minnesota Society of Certified Public Accountants recently surveyed its member on the most outrageous tax deductions clients tried to take on their tax returns. The resulting list shows that, more often than not, clients don’t know which deductions are allowed --...
Did Someone Say Molasses in January? Where’s My Refund?
No, hell won't freeze over, but it'll get pretty chilly. Refunds will be much slower in 2016, but they'll get here...eventually. Last year's income tax season was marked by an explosion of refund theft. Will this year be any different?Increased protections may cut...
A Gift? For Us? Yes, You Should Have!
GREAT NEWS! – Today President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015! The PATH Act of 2015 is the result of cooperation by both chambers of Congress and renews/makes permanent some important tax incentives for individuals and...