Useful tax tips and information from Jerry Coon of Action Tax Service.
Congress passes late tax law Welcome to the 2011 tax season. It’s going to be a season with some challenges. Jerry Coon First, our Congress passed a very late tax law. They waited until December 16 to pass the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Predominantly, the law extends the Bush Tax Cuts and various other provisions to [...]
Consider 10 items before 2011 Leave it to the Internal Revenue Service to assume the role of the “Grinch who stole Christmas” one more time. They announced last Thursday that due to late changes made by Congress, the IRS will require some extra time to revise their processing software. The extra time means that approximately 16 million taxpayers will see their refunds [...]
Bush Tax Cuts extended two years Jerry Coon One of the reasons I enjoy writing this article for The Rockford Squire is they graciously allow me to write about areas other than income tax. I have taken advantage of that graciousness to write about a variety of subjects such as fishing in Canada, hunting in Marion, attending sprint car races in Iowa, and traveling with [...]
Negotiations to benefit economy Chicago is a great place to spend a weekend. Our daughter, Kim, is working on her master’s degree at DePaul University, so visiting her provides the perfect excuse to go to Chicago and take in some of the sights. Jerry Coon On Friday night, we went to the Christkindlmarkt in downtown Chicago. The Christkindlmarkt is an outdoor bazaar that [...]
Ensure end-of-year deductions will be allowable Jerry Coon As we approach the end of this year, December 31 is the magic date. In order to include most items on this year’s tax return, payment must occur on or before December 31. The definition of “payment,” however, takes on a special meaning on December 31. The general definition today is that when a check is [...]