You already know where I stand when it comes to our political situation. But, our current situation makes me proud of Nancy Pelosi. As she said… “It goes to show you: You get into a tinkle contest with a skunk, you get tinkle all over you.”
Continue reading Unintended Circumstances?
I know. The government is shut down. And, I have no idea if this ridiculous situation will last two more days, two more weeks, or longer. (I am betting if it goes longer than 2 weeks, there will be a veto override to open the USA for business.)
We all know that Congress uses our tax laws to effect policy. It’s why we can deduct our mortgage interest (up to $ 1KK in mortgage principal), because Congress believes that it’s good for America when folks own their houses. (Or, maybe Congress thinks it’s great that bankers can own our houses and make us pay at least 2X what we think we bought them to finally call that house our own.)
Continue reading Alms for the Poor….
Over the past two posts, I discussed a loophole in the tax law that benefits the wrong entity. (Instead of benefiting charitable needs, the DAF [donor-advised funds] tend to benefit the donor, with little regard to those who are in need. Yet, the charitable benefit has afforded one family to extend an olive branch to the public, by sharing some 1000+ pieces of art with the public– albeit 500 folks a day, maximum.)
Most of you know that we provide tax and financial services to small businesses, entrepreneurs, and mid-sized entities. We are proud that our services meet or exceed the capabilities those that the privileged few (the 1%) seek out and use- at a fraction of the cost. So that everyone can get the chance to pay the lowest amount of taxes required by law.
If you have been reading my blog every day (WHAT? You don’t? Shame on you 
!) , then you know I have just had a book published. About the new tax law, of course. (There’s at least one more book- NOT about taxes- on its way.)
Continue reading What about my taxes?
We routinely assist clients who come to us without a drop of information. Yes, that means that their ability to adjust their gross income is limited- unless of course, they actually have a financial system.
Continue reading Finally- a Redaction!
I know you’ve grown tired of me reminding you that you need to log your business mileage to get the benefit of deducting the costs of your car. Unless your car use is like mine, this really is a necessity.
Continue reading From here to there
Some folks may consider this a case about tax havens, others about how companies manipulate expenses between domestic and overseas operations. Either way, it’s a big win for the IRS.
Continue reading Transfer Pricing Shenanigans
Ah, yes. The truth- and the dangers- are now becoming obvious.
The GOP was desperate to provide a benefit to their benefactors. So, they lowered the corporate tax rates to a ridiculously low 21%. Even though most corporations never paid the much bandied about 35% rate. (Only professional corporations and small businesses got stuck with that level of taxes. Big corporations always hid- and still do- their profits from the tax man.)
Continue reading The situation is becoming untenable
