Normally, tax law principles are quite simple: the person who earns the money, pays tax at their current single or married filing joint rates. Under the old law, however, there was a strange […]
News You Can Use: January 2019
1Tax credits for buying Tesla and GM Plug in electric cars are ending soon. The maximum $7,500 credit begins to phase out for vehicles manufactured by a car company that has sold over […]
2019: A Shutdown Tax Odyssey
The 2019 tax filing season is about to begin. IRS will begin accepting returns on Jan 28 and will issue refunds. This is true even if the federal government goes into partial shutdown […]
Not Saving Enough for Retirement?
4 Simple Ways to Reduce Spending GUEST POST Almost everyone looks forward to retirement. The thought of leaving behind a 9-to-5 job and getting to do whatever you want every day is very […]
Two Tax Systems
I have always maintained that we have two tax systems: one for employees that is designed to take your wealth. And, one for self-employed people, which is designed to stimulate economic growth. This […]
Why Must I Document Deductions?
I get asked, “why do I need to always document my deductions?” The short answer is that you need the correct documentation in order to sustain your deductions against a competent auditor and […]
Tax Season Today
The tax season can be confusing. And make no mistake about it, that is by design. The U.S. Tax Code started out as about 30 words. It now fills more than seventy thousand […]
Sandy’s “Shark” Thoughts
I was reading about a research experiment where a marine biologist placed a shark into a large holding tank and then released several small bait fish into the tank. As you would expect, […]