Useful tax tips and information from Jerry Coon of Action Tax Service.
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 [...]
April 15 around the corner It’s Master’s week. For a large number of golfers, this tournament, the first major of the year, gets the ball rolling for golf. Everything is perfect at the Masters. Augusta National Golf Club is among the most beautiful golf courses on this Earth. The flowers are perfect; there are always birds singing in the background. Only the best [...]
Big government is expensive Let’s talk about tax rates this week. According to the Tax Foundation, a nonprofit organization that studies such things as tax rates, taking into account all of our phase-outs, deductions and credits, the highest tax rate any United States individual could pay today would be 39.76%. That puts us at number 21 on the worldwide tax rate list [...]
New bill creates more complex tax system I did something on Sunday evening that I have not done previously. I watched C-Span for a solid three hours. I don’t think I have watched C-Span for three total hours in my entire life before Sunday. I would rather do just about anything than watch C-Span. However, on Sunday, a train wreck was occurring in Washington that I just [...]