Useful tax tips and information from Jerry Coon of Action Tax Service.
Jerry Coon, Enrolled Agent Charitable contributions As we near the end of the year, in addition to the festivities associated with the Christmas holiday, tax professionals across these United States of America are doing their best to get the word out to their clients and the tax-paying public that December 31, 2009 is, for the most part, the cut-off date to make changes [...]
Jerry Coon, Enrolled Agent Tips on converting IRA to Roth IRA A topic that has come up in multiple discussions the last few weeks is the Roth Individual Retirement Account (IRA) situation. Specifically, it seems that every financial planner and money manager is touting the conversion of traditional IRAs to Roth IRAs and, in many instances, it makes very good sense to do [...]
Jerry Coon, Enrolled Agent Five items most affect returns this year Boy, there sure is a lot going on in the tax arena this year. I have written about this regularly and previously, but it bears repeating: virtually by the minute, our tax system is getting more complicated. I attended a two-day seminar last week that was attended predominantly by Enrolled Agents, such as [...]
Jerry Coon, Enrolled Agent Penalty provisions in fine print E-file saves taxpayers millions The Worker, Homeownership and Business Assistance Act of 2009, as signed into law by President Obama on November 6, among several important provisions, had a penalty provision inserted within the fine print of the law. I think there is a lot of fine print in some of these laws [...]
Jerry Coon, Enrolled Agent First-time homebuyer credit extended Present homebuyer credit expanded A flurry of activity has occurred this past week in our federal government. Last Friday, Nov. 6, President Obama signed into law the Worker, Homeownership and Business Assistance Act of 2009. The main provisions of the bill extend the first-time homebuyer credit and [...]