How to Avoid Receiving Letters From the IRS

Every year the IRS issues millions of tax bills to taxpayers for items of income not reported on tax returns.  For example, if a taxpayer received a pension distribution during the year, but did not report the distribution as income, the IRS sends a bill for the taxes...

What Tax Planning Can Do For You

What Tax Planning Can Do For You

Last tax season more than a million taxpayers got nasty surprises when filing their income tax returns.  In prior years, they got small refunds or owed just a little.  However, due to changes in the tax withholding tables, many owed $10K or more. Tax planning can do...

Should Your Business Be an S Corporation?

Here's Something to Think About To answer this question, we should first ask, “What is an S corporation?” An S corporation is a company, that is organized as a corporation or limited liability company (LLC), and elects S corporation status with the IRS by filing form...

The Tax Lady and the New Child Tax Credit

Exciting News About the Tax Lady (and the new Child Tax Credit) The Grim Reaper and I are excited to announce that we are expecting our first child!  To those of you whispering that my enlarged belly results from gluttony and lack of exercise, well that’s just hurtful...

New Tax Law Goodies for Individuals

In our last post, the Grim Reaper made us painfully aware of the bad parts of the new tax law for individuals.  Since our obligation to him from that unfortunate lawsuit is done, we can move on to the goodies in the new tax law for individuals. First, tax rates for...

The Bad Parts of the New Tax Law

The Bad Parts of the New Tax Law Your Grim Reaper here, You’ve been reading lots of stuff from that Stitely fella about how the how the new law benefits businesses and business owners.  He hasn’t told you the whole story.  I’d like to say he struck a deal with the...