The 2018 Tax Cuts & Jobs Act brought a lot of changes to the federal tax scheme, but the word "Cuts" in the title was a little misleading. Not every aspect of the laws that greatly overhauled our federal tax code actually resulted in cuts to our federal tax...

Busy season is just around the corner and it promises to be one of the most interesting tax preparation seasons ever. I know that "tax" and "interesting" are words that are hard to imagine hearing in the same sentence, but in the years I've had my tax practice, I've...

Hope everyone enjoyed the Christmas holiday, and plans on having a fun New Year's. I've tried to relax as much as possible with the onslaught of the oncoming tax season, just a few weeks away, which promises to be one of the most interesting seasons, possibly the most...

The holiday season is in full swing with the stores full of shoppers and the usual madness.  I prefer to do most of my holiday shopping online, though I usually end up in the stores at some point or another because of my procrastinating and don't have time to...

By now, you've put away your Halloween decorations and the Christmas advertising campaigns will be plastering our airwaves soon.  Whether we want to or not, many of us will start thinking about the holiday season and going through the various annual rituals of extra...

Summer has gone by fast but I'm not ready to put away the barbecue just yet.  I am determined to have a couple more charbroiled burgers and steaks before the weather significantly cools. Meanwhile, if you have a regular W-2 job (versus being self-employed like...

I hope everyone enjoyed the Fourth of July holiday.  We made the most of it, watching the local parade, doing a little barbecuing with friends and briefly viewing the fireworks so we could get to bed at a decent hour.  Still, it's a relatively relaxing holiday and...

Hello Everyone, I'm happy to say that busy season is over, and although there are still more returns being prepared, I can finally sleep civilized hours again. The weather is getting a lot more pleasant and I'll be firing up the grill real soon! If you've already had...

Happy New Year Everyone! Before the insanity of tax season sets in, it's important that I review the Tax Cuts and Jobs Act in its final form, which will affect the majority of my clientele in one form or another.  While I do feel the final version is something of an...

I hope everyone had a nice holiday and is looking forward to their New Year's parties in just a few more days. Before that ball drops on Times Square and the confetti rains down, there is one last possibility for some federal tax savings on the 2017 return that I've...

Earlier today, the US House of Representatives passed the tax reform bill we'd been hearing about for several months in the news and heralded by our President as something that would stimulate massive investment and create all kinds of new jobs.  I'm skeptical on that...

It's been four months since my last blog post, and though I apologize for not posting more often, there hasn't been much to report about on the taxation front as our current Presidential administration attempts to push its tax reform proposals through Congress while...

The late nights, early mornings and heavy caffeine consumption associated with busy season are over and I'm ready to start posting more useful information on this blog (it's about time after all). By now, you are probably aware of our new President's proposals to...

Busy season has begun again and I already feel myself getting backed up.  I don't expect I'll be posting very much over the next few months as I work on returns seven days a week with a lot of late nights and the occasional early morning when I happen to wake up...

Hope everyone had a nice Thanksgiving! It’s been almost three months since my last post.  Until now, there has been a lack of anything interesting to discuss. I’m sure most people would have been distracted by the Presidential election anyway. Regardless of what you...

The “sharing” economy has brought me and my family some easy ways to save money and has also proven very convenient. I’ve used Uber and Lyft in neighborhoods where taxis weren’t readily available. I’ve used Zimride for longer drives, both to help defray out of town...

So you filed your annual return some time ago, but you receive a letter from the IRS stating you owe additional taxes. Not a happy thought! The IRS can adjust your federal return for a variety of reasons and assess additional taxes. Perhaps your employer made a...

When we hear the words “tax shelter”, many of us picture a real estate investment that purposely loses money or money filtered through a phony corporation that is nothing but a piece of paper on file in the Cayman Islands.  Most of us don’t have the means or...

It's been almost a month since my last post, as I was enjoying the end of busy season a little too much and for too long.  So now it's time for some more of my valuable advice. Past due taxes are an unpleasant problem.  However, it’s a problem that must be given a...

Hello Everyone, I know it's been almost three months since my last post. Busy season is finally over and I am back to a more civilized routine, instead of working the 18 hour+ days, seven days a week.  It was a rough busy season but I count my blessings because I...

This subject has been discussed on many other blogs, online media, in print and elsewhere but I thought I'd add my two cents on this one. First, let's look at the different types of tax professionals.  They come in many different varieties -there are Certified Public...

This is my first real blog post.  The 2016 tax season is almost upon us in full force, so there won't be much time to post to here, but I want to get this blog started. My first piece of free tax advice that I hope will be the first of many posts to come: If you have...