The GOP has done a number on the IRS.
One would think that the IRS was a Democratic Party stronghold by the way they’ve cut funding to the agency. (I guess it’s like TheDonald alleging that the GOP members of Mueller’s investigatory staff all miraculously changed parties from the GOP to effect the investigation of TheDonald’s obstruction of justice.)
Continue reading The Taxman Cometh- NOT!
Now that tax season is over, I can talk about some of the interesting situations that obtained in previous years.
Continue reading Dependents Dependence
I’ve been warning you that states are desperate for cash. And, they got the go ahead from the Supreme Court to tax sales from out-of-state vendors. Some states want to collect tax from the first sale, others have more reasonable thresholds ($ 100K, 200 transactions). Which means we have to be vigilant about tracking our sales; more importantly, if we think we may come close to the threshold during a given year, then we better start collecting those taxes now- or be out the cash we have to shell out later.
Continue reading If it moves, tax it?
Now that the tax season is officially over (even though I was presented an additional 6 ‘opportunities’ last night after midnight), I will recount some funny things that occupy the rest of my year.
Continue reading Priority Practitioner Line
OK. Today’s the day.
And, from my point of view. I’m so pleased that this is the first time in a long time, that the holiday of Pesach (Passover) did not interfere with my ability to serve my clients’ needs. That’s right- Pesach won’t be here until Friday, so I could spend this past Sunday to Friday analyzing my clients’ needs and helping them pay the lowest amount of taxes required by law.
Continue reading The Ides of April!
Here’s a little something to keep in mind as you try to figure out how you are going to pay that tax bill that comes due next Monday. (Today is the 8th of April, right?)
Continue reading Poof! Like Magic, They Disappear!
With the tax season mostly done now, I noticed a problem that needed an IRS fix.
You all know by now that SALT (state, local, and property taxes) have been limited under the Tax Cut and Jobs Act to a maximum deductibility of $ 10K. The GOP wanted to penalize those states under Democratic Party management, where SALT is usually higher, because better services are provided their citizenry.
Continue reading Did someone drop the ball?
Yes, folks today is April Fool’s Day. Which means to me, that if you have not yet gotten your ducks in a row and have provided your tax professional (sniff, sniff- not me?) your data, you qualify as a prime fool.
Continue reading TWO WEEKS????????
The 40% increase in the federal deficit this fiscal year is a real problem, since the large tax cuts (part of the Tax Cut and Jobs Act) were not accompanied by a reduction in federal spending.
Continue reading Deficit Spending
It’s time for everyone to understand reality.
Why this question keeps coming up is simply amazing to me. But, too many of our politicians- and obviously the American populace- have an unbelievably strong affinity for magic.
Continue reading Magical Thinking
