April 27, 2016
Top International Tax Questions Answered
Fear NOT the US Tax Code - it is but a paper tiger. All are welcome!...
News
April 2, 2016
AVOID PENALTIES – Get Income Tax Extension Requests Filed & Estimated Income Taxes Paid
Remember your US Income Tax extension request is ONLY for additional TIME to FILE your tax forms, your income tax payments, estimated or otherwise, are still due April 18th 2016. Most US Taxpayers forget that income tax payments are due in April, even if an extension request for more time to...
February 19, 2016
Research Tax Credits, Qualified Research Expenses (QRE) & IRS Form 6765, Credit for Increasing Research Activities
Being married to a fermentation biologist has allowed me access to a wide swath of fascinating experiments involving media from bio-fuels to home brew. So no matter how many esoteric Internal Revenue Codes I vamp up in public or in social gatherings-like an idiot savant, I...
January 23, 2016
Colorado Filing Processes – the Good, Bad & Ugly
Mostly Ugly. Colorado is the Wild, Wild West in many things - including taxing authority....
January 8, 2016
Deliberate Tax Free Compounding is the Secret of the Golden Flower
I am getting to be an old man now and so profoundly thankful that the lessons of tax-free compounding were impressed upon me at an early age. It has made a huge difference in my financial well being and subsequent happiness. You too can use...
January 7, 2016
Protecting Americans from Tax Hikes (PATH) Act of 2015 – A Summary
Protecting Americans from Tax Hikes Act of 2015 (PATH) summarized by my friend Shirley Callahan EA. Some highlights include: Everyone will appreciate the permanency of the enhanced Educator Expenses, the Sales Tax deduction, and the R&D Credit. Section 179 is made permanent at $500,000 phasing out at...
December 3, 2015
Bitcoin – A Currency For the Digital Age – IRS Notice 2014-21
The following is an article I coauthored with my friend Beth Logan for the November/December edition of the EA Journal. Beth is the Treasurer of the Massachusetts Society of Enrolled Agents. In addition to taxes, she is a small business consultant. She has two electrical engineering...
December 1, 2015
Navigating Health Savings Accounts and Other Tax-Favored Plans
Over Thanksgiving I was asked to explain in basic sound bite terms the federal tax implications of the various health savings options. Caught off guard I stammered as eyes glazed over, heads drooped, and relatives closest to me pounced. It was brutal. "Aren't you an Enrolled Agent?" ...
November 4, 2015
Health Savings Accounts (HSA) – A Fantastic Tax Planning Tool
Health Savings Accounts (HSA) - A Fantastic Tax Planning Tool - first introduced in 2003 via IRC § 223(b)(2)(A) were legislatively intended for individuals covered by high-deductible health plans to generally allow for preferential income tax treatment on money saved for medical expenses. Many more US Taxpayers are taking...
October 27, 2015
U.S. Tax Court Settlements in IRS Appeals
Situations by which Docketed U.S. Tax Court Cases Settle in IRS Appeals...