February 22, 2019

I recently witnessed one of the most distressing tax return sessions I have experienced - an elderly woman on a very modest pension that is partially fueled by dividends from a stock portfolio, including a stake in the company shown above. While she normally has to pay...

January 21, 2019

If you're in your first year, even your second year as a rideshare driver, you may be facing a whole lot of tax issues you never had before, or at least never solved.  They don't have to be problems, but there WILL be problems if you don't know what to do, or if you ju...

November 26, 2018

Few of us are exempt from income taxes, we know that.  But when you prepare your taxes, how dependent are you on the dependent exemptions for reducing your taxable income?  If the answer is "VERY", then you may be disappointed with last year's tax reform bill.

The...

October 11, 2018

Is your annual April surprise somewhat akin to playing roulette? That is, how often have you known up front what will happen when all income and expenses are all added up? How often has the final number elicited a sigh of relief or a groan of pain, because you simply d...

October 1, 2018

Do you buy and sell property?  If so you're probably using the tax advantages of Section 1031 of the Internal Revenue Code, which allows sellers of property to forgo capital gains taxes as long as they buy similar property within a certain time frame.  

But th...

August 15, 2018

Accountants are trained to have a built-in bias favoring credit, based on the simple logic that the interest is tax deductible.  Is that always wise?  Part of that comes down to personal bias:  Some people find the payment of interest to be abhorrent.  But when we put...

June 25, 2018

You haven't heard about it yet, but you will soon enough:  The Supreme Court, in a 5-4 decision, just green lighted sales taxes for Internet sales.  Not just sales in your own state, but all sales!  

If you sell online, this impacts you.  If you sell on E...

April 26, 2018

Has your law firm evolved?  That is, has your business model changed?  We’re not talking about mass torts firms that regularly change their areas of law.  This is a question for all firms:  What fields do you focus on, and how do you market to them?  Have the fields ch...

March 13, 2018

With the passage of last year’s tax cuts America is mortgaging its future to the hilt, literally:  To pay for the marvelous, amazing, simply unbelievable tax cuts, the greatest tax cuts in the history of the world, we are borrowing the money from the future.  This loan...

January 29, 2018

Most people count all sorts of things in their lives - calories, height, weight, IQ, miles traveled, hours worked, hourly pay, sports stats of all types, the number of words spoken by the toddler in her first week of speech, number of steps trod by the rug rat in his f...

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