Late action by Congress causes delay for some 2011 e-filers
For most taxpayers, the 2011 tax filing season starts on schedule. However, tax law changes enacted by Congress and signed by President Obama in December mean some people need to wait until mid- to late February to file their tax returns in order to give the IRS time to reprogram its processing systems. Some taxpayers […]
2009 Was a Busy Year for Congress and the IRS – Lots of Changes!
I am often asked if there is anything new in tax law this year. Usually my reply is that there is nothing significant – just the usual indexing of the amounts to inflation. But not for 2009! I can’t remember a year since the big tax reform act of 1986 that there have been so […]
Don’t Miss Out on Deducting Real Estate Taxes You Paid in 2008
IRS statistics indicate that about two thirds of taxpayers claim the standard deduction on their tax return each year. This means that they do not itemize, or list out, things like mortgage interest, real estate taxes, charitable contributions, or medical expenses on IRS form Schedule A. If you’re one of these taxpayers and you claim […]
Since When is Building a Business Like Breaking Rocks?
Picture yourself swinging a sledge hammer all day and breaking rocks. Doesn’t seem like it would be a very pleasant experience, does it? Someone once asked me, “what would you do to absolutely, positively insure the success of your own business? How hard would you work? Would you break rocks day after day if you knew that doing […]
NO LIMITS – It’s time to grow!
I started preparing income tax returns on a part-time basis in 1987 (preparing tax year 1986 returns) as a way to make a little extra money. I retained my full time day job – you know the drill - because of health insurance for the family, 401K plan, paid vacation, etc. As I gained more and […]