Did you know that $203 Million of the Economic Stimulus money that was doled out last year was given to the IRS? Further, it was revealed this week in a report from the Treasury Inspector General that these funds are in danger of being misspent due to continued problems with contract oversight. What a [...]

Last week the IRS announced that they will no longer be printing and mailing tax forms to individuals. The printed forms will now only be available by internet or from libraries and Government offices. Of course, the reason for this change in policy is to save the taxpayers' money by avoiding printing, handling and [...]

Even though Congress is avoiding major decisions on tax law changes that must occur this year until after they see who is reelected, they managed to pass a bill which Pres Obama signed earlier today into law. You will hear media hype about the Small Business Jobs Act of 2010, but what you may [...]

This week I finally received notice that my application for Accreditation in Business Valuation was accepted. I now have three more letters after my name. This was an inordinately difficult credential to obtain. Last year I spent the better part of six months pouring over books and official materials studying for the ABV exam. [...]

My wife and I recently returned from an Alaskan fishing trip. The fishing was good, the weather was OK (for Alaska it was great), and the friends we traveled with were a lot of fun. The not so fun part came when I totaled up the credit card bills and realized how much we [...]

These claims are touted on cable TV and radio ads frequently, and at times we have received inquiries from clients about them. Our advice is usually unpleasant, but pragmatic: If you owe the money and have the ability to pay (whether you want to or not), you will not qualify for any special negotiated [...]

In a recent court case, the court struck down a tax deduction for a couple who donated their house to a local fire department. It seems they were in need of the house being removed from their property, and the fire department was in need of a burning house to train in. The couple [...]

You might not have noticed it yet, but the first new tax from Obamacare has kicked in. Tanning salons must now collect a 10% surcharge on indoor tanning services. This new law is rumored to have been inserted in the Obamacare legislation in retaliation to the “Boob & Botox tax” which was in the [...]

Thinking of selling your home sometime in the next couple years? If so, consider this: In order to try and pay for all the goodies included in Obamacare, Congress created a 3.8 % Medicare surtax on investment income starting in 2013. This surtax is placed on top of the normal tax on all investment [...]

While statistically speaking your chances of being audited by the IRS are very low, It is important to prepare each tax return as if you will be audited. Having proper documentation for expenses claimed and being certain to declare all income items is far more effective if you do the work when its fresh [...]