Posts Tagged ‘HOME’
March Madness – Taxes & Traditions
March Madness: Taxes & Traditions March Madness comes in many forms. We call it “Tax Season” because it is a time of year… each year, and every year… when there is a season of abundance. There is so much work to do before the tax deadline. Like any season of harvest, you try to…
Read More5 Tips When Calling the IRS – How to Talk to a Real Person
If you need to call the IRS and talk to a person to get help, you most likely are already frustrated and stressed. Placing the call doesn’t help your anxiety level because it is easy to get lost in the myriad of automated responses… “Choose 1 for this”, “Choose 2 for that”, etc. Sometimes you…
Read MoreJoke :D “Top 10 Reasons to Prepare Your Own Tax Return”
Top 10 Reasons to Prepare Your Own Tax Return 10. Nothing beats that ‘waiting until the last minute anxiety ridden’ feeling 9. What’s more fun than having to learn another complicated software program 8. IRS tax publications are better to read than the latest bestseller 7. Who needs a Professional, next year I’m going to…
Read MoreState And Local Tax (“SALT”) Cap Workaround
State And Local Tax (“SALT”) Cap Workaround [updated & reposted – Rick] Many states have passed legislation which allows for a SALT Cap workaround. Background: Taxpayers can deduct the larger of the Standard Deduction or their Itemized Deductions on their individual tax return. Itemized deductions include charitable contributions, mortgage interest expense, medical expenses over 7.5% of…
Read MoreReduce Taxes Now! Take Steps Before Dec. 31st!
If you wait until April 15th to try and reduce your income tax, there will be very few things you can do. Now, before December 31st, review your situation and take action to minimize your current income tax. There is some uncertainty in which tax provisions Congress may decide to extend, but the majority…
Read More“Of Course They’re Tax Deductible” Part 1
I have a client who farms… and produces fish… and writes books… and does a bit of almost everything. He is smart and witty. At tax time, our review of income and “deductible” expenses can be very entertaining. He surprised me a few years ago by including a whole chapter in his new book dedicated…
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