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 [...]
October 15th (17th this year) is a huge date for us in the tax realm. It’s the final extended due date for late filers to get their tax returns in on time. While April 15th gets a lot of publicity, historically October has been busier for our firm than April due to all the [...]
Sometimes at the slightest hint of a problem with their taxes, clients’ fear of the government prompts them to ask “I won’t go to prison, will I?” If you make an honest mistake or have a unique situation where the facts aren’t entirely clear, you may be facing some penalties and interest, but you [...]
Just across the wires today: Amazon has reached a deal with California lawmakers to drop Amazon’s efforts to seek a referendum to stop CA pols from assessing sales tax on internet transactions forwarded to Amazon.com from CA websites. In exchange for Amazon suspending its efforts, CA will not attempt to collect the tax for [...]
Some serious stuff this time: Their may be a silver lining in the recent slide in the stock market. If you took advantage of the relaxed IRA/Roth Conversion rules last year and converted your regular IRA to a Roth, listen up! You probably paid tax on that conversion, and you have an opportunity until [...]
Prior to getting married (a long time ago), I did some premarital tax projections and realized that our joint income tax burden as a married couple would be significantly higher than if we were to remain single. Although I was accused of stalling, after much cajoling I managed to convince my soon-to-be bride to [...]
The IRS is modernizing. The IRS has learned from the private sector how to leverage their resources and get the best bang for their buck. They have invested heavily in technology and information systems that enable the agency to conduct much business through the mail and avoid costly face time with auditors. This also [...]
A couple things passed over my desk recently that I thought might be noteworthy, and I am passing them along for your review… If you have money in a foreign bank account the IRS is expanding its efforts to locate you. They are investigating Credit Suisse and other foreign banks to determine if they [...]
