Do you know that old saying that figures don’t lie, but liars can figure? Well, much hyperbole came out of the election regarding who is in the top 1% of income earners, and who pays what in taxes. A lot of the stats were misused or misquoted. Here are the latest figures that IRS [...]
I have not posted a tax blog since last Spring not because there was nothing noteworthy or entertaining in the tax world, but because I just can't seem to find the time to do it. Some court cases and pronouncements would make great fodder for discussion, but it seems there is always something a [...]
This one came across the news wire today and I’m sorry, but I just can’t resist a snarky comment. An H&R Block manager was arrested in Van Nuys, CA in February for identity theft. Apparently he was using client’s information to prepare bogus tax returns on their behalf and obtain refunds using the H&R [...]
As we close in on April 15, the traditional tax filing hysteria with all the media attention helps spawn another side industry – tax scams. This time of year criminals use the fear of IRS to prey on victims and get them to disclose valuable info to steal identities and money. The IRS issued [...]
Usually whenever any political body starts tinkering with taxes it is another Right To Work act for accountants. Virtually every “tax simplification” or “tax reduction” act that comes along only serves to make compliance more difficult for the taxpaying public.Given that tax accountants are arguably the only constituency that will always benefit from any [...]
If you operate a business or are a sole proprietor you mayhave noticed a few new lines that appeared on your tax forms for 2011. In 2008Congress passed a tax law that requires all businesses to separately disclosethe amount of their gross revenue that was collected via credit cards. Thisamount was to be reconciled [...]
I didn’t expect to have time to update my Blog today, but asI write this our server is down and the phone system is dead due to a poweroutage (thanks So Cal Edison!) so it looks like it will be kind of quiet for aMonday morning… Tax season is in full swing here and [...]
It's been well over a month since my last posting and I’mfeeling pretty guilty about it. Instead of having a typical slow January ouroffice started right off into tax season the first week. And we have been goingstrong ever since. I guess that’s a good thing. In previous postings I have, on occasion, been [...]
Last week I linked you to information about personal tax planning and things you should consider now to reduce your tax burden for 2011. Most of those items dealt primarily with individual taxes. In case you are running a business and interested in what’s coming at you in 2012, I had an article published [...]
It’s been about two months since I wrote my last entry here. In that blog, I said I was heading for the Eastern Sierras in search of places with no cell service. I’m happy to report that because Verizon has such good coverage these days it took me a great deal of time looking [...]
