Useful tax tips and information from Jerry Coon of Action Tax Service.
One of the reasons I love baseball left us last week. Ernie Harwell passed away last Tuesday from cancer. Ernie and his partner, George Kell, were the voices of baseball when I was growing up in Coopersville in the 1950s and 1960s. Ernie had a special way of bringing the game alive for me and George was among the best third basemen ever. Back then, there was no ESPN, no [...]
More on cost of health, nursing care Last week, I began a discussion on the subject of the costs of health and nursing care and how we are going to pay for that cost during retirement. According to the Department of Health and Human Services, the blunt fact is that taxpayers age 65 and over have a 40% chance of enduring a stay in a nursing home. The trade group, [...]
Make retirement income last There sure is a lot of concern and discussion these days about making retirement income and retirement assets last through all of a retiree’s retirement. A married couple at the age of 65 today can be expected to have one of the two reach the age of 92. With any luck at all, they could both easily reach 85. However, if they retired at the age [...]
What now? The tax season ended on April 15. The question I now get to answer is what exactly tax professionals like me do for the rest of the year. No, we don’t take the next eight months off, although that does sound good. We do continue to prepare tax returns and we answer lots of questions. Jerry Coon, Enrolled Agent Last week, I discussed the fact that nationwide [...]
Last minute advice for filing The end of this tax season occurs on Thursday, April 15 for the approximately 80% of all taxpayers who file their tax returns on or before April 15. That still leaves, however, almost 20% who aren’t going to make the filing deadline. What are the consequences of not filing a return? The answer depends upon whether or not an extension is [...]