As we mercifully swing in to the end of the year 2020, along with all the political and social issues we are still dealing with as a nation, there is always TAX PLANNING! As the days march closer to December 31 it is important to consider possible year end moves to reduce the amount of money you’ll ultimately send to whoever is President.
The recent avalanche of SBA loans being made under the CARES Act is designed to assist small businesses to survive the economic destruction being wrought upon us in the name of fighting off the Wuhan Caronavirus pandemic.
After a deluge of comments from the public, we now have conformity (mostly). The IRS announced Friday that both the tax payment due dates AND the filing dates for tax returns have been pushed back to July 15.
Ah, it’s January already. Time to prune my fruit trees and look forward to the Superbowl party. Hopefully there is time to broadcast it between all the ads for Turbotax, H&R Block and the latest rich guys running for President. Personally I agree with President Eisenhower who said that the only way to get rich [...]
As we race towards the end of the year our office is scrambling with year-end tax projections for clients. Tax Planning used to be easier, but with the recent tax act capping State and Local Tax (SALT) deductions at $10,000 for taxpayers itemizing deductions, planning has taken on new challenges. With the SALT deductions limited [...]
Long time readers will know that it wouldn’t be the Holiday Season if I didn’t comment about year-end tax planning. Even though your time may be fully absorbed running between Holiday parties and shopping excursions, as we approach December 31 now is the time to evaluate your tax situation for 2019 and make any moves [...]
It seems that the only things that come out of Washington these days are stupid headlines about stupid stuff. I guess that’s how they keep the masses attention focused where they want it. Sadly amidst all the spin and PR jockeying the less sexy important things get buried and overlooked. One such thing is H.R. [...]
One of the reasons I love the 4th of July is the open display of defiance to overregulation by the use of illegal fireworks. You can drive through some areas of town and see ample evidence of civil disobedience, despite threats of heavy fines by local governments. Pushing back against overregulation and taxation is what [...]
It’s pretty unlikely that I’ll ever be asked to speak at a commencement ceremony. I don’t have great academic accomplishments or a particularly storied Resume. I don’t even have a fancy robe with colored sashes and tassels. I guess I’ll never rise to that level of wisdom. But frequently I am asked for advice and [...]
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, [...]