PAUL’S TAX BLOG

PAUL’S TAX BLOG2018-03-12T13:40:17+00:00

Tax Season TV Ads

Based upon all the TV ads for H&R Block and Turbo Tax, I guess it must mean we are in tax season again. That would explain the piles of files on my desk and the weekends my team is putting in here at the office! So far, a couple trends are starting to appear. First, people aren’t nearly as eager to get their tax filings done this year as they were last year. Across the board we are seeing people and businesses coming in later with their information. Perhaps its fear of the unknown, or maybe they know what lies…

Happy Valentine’s Day!

On this national day of love, hearts, flowers, and candy that we use to acknowledge those who are close to us, I want to encourage everyone to think about the one thing that ties it all together and makes this day meaningful for many – Cybersecurity! (What else??) The reason I used this tortured segue is because of a statistic I recently came across that stated that fully one out of every four personal profiles on dating sites are scammers.  One out of four! When I read that, I reflected on the amount of computer breach attempts we receive here…

Insurance Tax Planning

Do you, or someone you know, have a life insurance policy that you are paying premiums on but the insured could really use some cash now? One little noticed nuance about the Tax Cuts and Jobs Act of 2017 (TCJA) was a provision that changes the treatment of sales of life insurance contracts. Previously, if you owned a life insurance policy and sold it before it matured, (more bluntly, death) then there would likely be a taxable event measured by the amount of proceeds received versus the payments made on the policy, reduced by the value of insurance coverage during…

Tax Implications of the Federal Shutdown

For you over-achievers out there who are chomping at the bit to file 2018 tax returns, you may have to cool your jets for a while. While the Federal shutdown has not changed anticipated filing dates, there may still be some impact on you. IRS has furloughed 87% of their employees and many areas are impacted. As of today here are a few areas where the IRS is still functioning (and not) and what you can expect: IRS has stated that the tax filing season will begin on January 28. They will not process tax returns until then. Even if…

Check and Checkmate. Twice.

In case you missed it, last week the California Public Utilities Commission, a group of unelected State Regulators, proposed a plan to tax text messages. Apparently in the never ending pursuit of helping the disadvantaged afford cellular coverage our state ruling class saw a bountiful source of revenue. Just think of all the teenage girl’s parents seeing THAT phone bill! Well, in comes the Federal Government to the rescue. In a ruling that eviscerates the CA PUC’s authority to tax texts, the FTC ruled that text messaging is an information service, not a telecommunications service. Not sure about the logic…

This Halloween Don’t Be A Horror Story

Just a quick note to wish everyone a safe Halloween, and to be watchful when driving for the kids out looting and pillaging your neighborhood for treats! Also, while reading an email blast from the AICPA today, I was reminded that Identity Theft can be a real life horror story, and you must be vigilant to be sure that you have not unknowingly fallen prey to thieves. A few things you should always do to minimize your exposure: Always open and read any letter or notice from IRS immediately. Do not ignore these. If you have any questions ask your…

1 2 21

Subscribe To Paul's Blog

Name *

Email *

RSS FEED

Archives


February 26, 2019


February 13, 2019


January 21, 2019


January 15, 2019


December 18, 2018


November 6, 2018


October 31, 2018


September 10, 2018


August 27, 2018


June 27, 2018


June 21, 2018


May 22, 2018


April 24, 2018


April 17, 2018


April 11, 2018


March 30, 2018


March 26, 2018


March 19, 2018


January 23, 2018


January 22, 2018


November 3, 2017


September 14, 2017


March 13, 2017


November 11, 2016


November 8, 2016


March 17, 2016


February 6, 2015


November 13, 2014


May 30, 2014


April 22, 2014


March 26, 2014


March 17, 2014


February 1, 2014


January 22, 2014


January 21, 2014


July 2, 2013


February 22, 2013


February 19, 2013


February 8, 2013


December 26, 2012


December 12, 2012


November 27, 2012


November 8, 2012


March 26, 2012


March 21, 2012


March 6, 2012


March 2, 2012


February 27, 2012


February 11, 2012


December 28, 2011


December 23, 2011


October 18, 2011


October 17, 2011


September 23, 2011


September 8, 2011


September 1, 2011


August 5, 2011


July 25, 2011


July 13, 2011


June 21, 2011


April 20, 2011


April 8, 2011


March 2, 2011


February 16, 2011


February 8, 2011


February 7, 2011


January 24, 2011


December 27, 2010


December 17, 2010


November 24, 2010


October 18, 2010


October 15, 2010


October 1, 2010


September 27, 2010


September 22, 2010


September 15, 2010


August 24, 2010


August 10, 2010


July 27, 2010


July 23, 2010


July 22, 2010


July 13, 2010


July 8, 2010


July 1, 2010


June 25, 2010


June 21, 2010


June 17, 2010


June 11, 2010


May 28, 2010


May 14, 2010


May 7, 2010


May 6, 2010


April 29, 2010


April 7, 2010


March 29, 2010


March 19, 2010


February 17, 2010


February 11, 2010


February 8, 2010


February 4, 2010


January 27, 2010


January 25, 2010


January 18, 2010


January 15, 2010


January 13, 2010


January 11, 2010


January 7, 2010


December 30, 2009


December 29, 2009


December 28, 2009


December 24, 2009


December 7, 2009


December 2, 2009


November 30, 2009


November 24, 2009


November 16, 2009


November 10, 2009


November 4, 2009


October 14, 2009


October 2, 2009