Tag Archives: Income tax

They want more!

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Let’s assume we’re a solopreneur in Virginia or Arizona or Montana (or some other state).

And, we’ve picked up a great little contract from FlyHighBiotech in San Diego.  And, another from IoT4U in Sunnyvale.   (In case you don’t know, both of these cities are in California.)  And, neither entity is expecting us to show up at their offices to share our results- everything will be done via Microsoft Teams, Skype, Whiteboard, and eMail.

Continue reading They want more!

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The Taxman Cometh- NOT!

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The GOP has done a number on the IRS.

One would think that the IRS was a Democratic Party stronghold by the way they’ve cut funding to the agency.  (I guess it’s like TheDonald alleging that the GOP members of Mueller’s investigatory staff all miraculously changed parties from the GOP to effect the investigation of TheDonald’s obstruction of justice.)

Continue reading The Taxman Cometh- NOT!

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The Ides of April!

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OK.  Today’s the day.

And, from my point of view.  I’m so pleased that this is the first time in a long time, that the holiday of Pesach (Passover) did not interfere with my ability to serve my clients’ needs.  That’s right- Pesach won’t be here until Friday, so I could spend this past Sunday to Friday analyzing my clients’ needs and helping them pay the lowest amount of taxes required by law.

Continue reading The Ides of April!

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We covered death. Now, it’s time for taxes.

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You know the tax law has changed. And, for many of you, that means that itemizing is no longer an option.  (If you are married, the threshold of deductions needed to itemize went from $ 12K to $ 24K- and you are limited to $ 10K for the TOTAL of your property taxes and state/local income taxes.  Of course, you could do as I have done for many a client- filed separately for the first time in decades.  Where the threshold is $ 12K- and you still have that 10K max for property/state/local taxes….)

Continue reading We covered death. Now, it’s time for taxes.

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The IRS has issued regulations! During the furlough!

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I know many of you are wondering what the new tax law will do to your situation.

Well, the IRS finally (yes, during the furlough) has issued two sets of regulations that will make life much better for those of us who run companies.

Continue reading The IRS has issued regulations! During the furlough!

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Can I still deduct my HELOC?

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Slowly, but surely, the understaffed and overtaxed Internal Revenue Service is producing guidelines that will help us help you to understand how they plan to regulate the changes that the Tax Cuts & Jobs Act (PL117-95)- and the budget resolutions of February 2018 (I have a blog post describing these coming soon)- have brought.

Continue reading Can I still deduct my HELOC?

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