Useful tax tips and information from Jerry Coon of Action Tax Service.
Bush tax cuts set to expire Congress is really making it difficult to tax plan. Eventually, they will have to make decisions on a number of tax issues. Complicating the matter is that Congress can make a decision by doing nothing. Jerry Coon, Enrolled Agent The Bush tax cuts are all set to expire on December 31, 2010. If Congress does nothing, we will revert to the tax [...]
Tax school begins I may end up buying my salmon this fall at Meijer or D&W. In past years, I could depend on going fishing a few times throughout the summer and catching a few fish each time. Then, to finish off the summer, over Labor Day, my brother-in-law Don and I could always count on coming home with some nice salmon fillets. We are far from experts, but we have [...]
NKSC donations now qualify for Michigan tax credit The Michigan Treasury Department works year round. It may be a slimmed-down version compared to the tax season, but those working seem to be working hard. Those of us in the professional tax business see evidence of their efforts from time to time. Usually a taxpayer will receive a letter or some correspondence from [...]
Business federal tax rules revised The Internal Revenue Service is keeping busy this summer. In a previous article, I discussed various court cases that involved the IRS and taxpayers. Auditing taxpayers is one way the IRS keeps busy. Those audits from time to time develop into court cases. Jerry Coon, Enrolled Agent Another manner of staying busy is by revising the [...]
Regulating tax return preparers Congress and the Internal Revenue Service are both extremely interested in regulating all tax return preparers. In fact, they are downright serious. Apparently, there are return preparers out there who don’t follow the rules, don’t know the rules or don’t choose to follow the rules. Either way, it’s a problem for not only the IRS [...]