Dear Friends and Subscribers In the last couple days you may have received three blog posts from me, one titled Yes, You Will Die, one titled Who Slid This In?, and one titled Your Tax Dollars at Work. The first one was intentional and a must read (if I do say so myself) for [...]
As the saying goes, none of us get out of this world alive. And as much as we prefer to ignore this basic fact of life, we really should plan ahead for it. As part of the trust and estate work we do in our firm we see a lot of elderly clients and [...]
Another tidbit buried in the new tax law is an excise tax on beer, effective 1/1/2018. Now before you go all Boston Tea Party on this, read further. Under the new law, there is to be an excise tax on beer at the rate of $16 per barrel. This applies to domestic and imported [...]
The new tax law has a lot of stuff in it, some of it very complex and yet to be fully fleshed out. One provision that has received much press and dialog is the cap on state and local tax (SALT) deductions for individuals at $10,000. This provisions has elicited much wailing and [...]
The tax revamping proposed by the Trump Administration certainly grabbed headlines. However, many who have been asking for meaningful tax simplification might now be sorry that they asked. These proposals will be a good example of “be careful what you ask for”, as many favorite deductions and exclusions are slated to disappear. Who knows [...]
Ok, so this isn't a tax topic, but it did occur in our CPA firm so I'm gonna say it qualifies. It seems that there is just no limit to what thieves will do in this new cyber age. This episode happened to our office manager last week. She answered her cell phone and was greeted by [...]
We are in the heat of tax season, and while I should be focusing on the Piles o’ Files on my desk and office floor, I’m done for the day and need a distraction. Enter Bill Gates. Bill Gates (of Microsoft fame) recently sparked a discussion when he suggested that robots soon [...]
All the talking heads are now speculating what changes will be made to the tax code as a result of the Trump victory. Since NOTHING is certain at this point I can only list the things that others have said will likely happen. Here’s a partial list: All the taxes brought in [...]
Hi All, I have not posted in quite some time, and in the spirit of the current election hysteria, I AM NOT going to prognosticate on the results of our election!. (You're welcome!) However, I did learn of a really interesting proposal that was important enough to recharge this blog. A study has been completed by a team [...]
We get a lot of questions from clients about inquiries from IRS. Seems that when someone gets a letter or notice from our favorite federal agency most people instinctively hit the panic button. Thieves have discovered America’s paranoia over the IRS and have learned a new trick to capitalize on it, apparently with some [...]
