Useful tax tips and information from Jerry Coon of Action Tax Service.
Jerry Coon, Enrolled Agent Security issues discussed This summer we traveled to the Asheville, North Carolina area. It’s a wonderful part of the world. There seems to be plenty of wild animals living in the mountains surrounding Asheville and the scenery is outstanding. Deb and I took the Blue Ridge Parkway on our way home and I was lucky enough to see a bear crossing [...]
Jerry Coon, Enrolled Agent Tax rebate for golf carts The amount of tax questions I receive on an ongoing basis is a sign of not only how complicated and convoluted our tax system has become, but also how often we think about our tax situations. The questions seem to have gotten a bit more complicated, too. Even though my bank of tax experiences grows year by year, the [...]
Jerry Coon, Enrolled Agent Recent developments in tax preparation In the tax preparation business, there are always recent developments. Things change frequently. I have determined that it is how tax preparers keep their minds young and limber. We have to follow the bouncing ball, so to speak, on a daily basis because we really don’t know where it’s going to bounce to [...]
Jerry Coon, Enrolled Agent Sub Chapter S Corporations This week, I would like to continue a discussion of the various entities that are available to taxpayers who are starting a business. In the past weeks, I have written that a Schedule C or Sole Proprietorship is one option. A second option is operating as a LLC or Limited Liability Corporation. A third option is [...]
Jerry Coon, Enrolled Agent Advantages of partnerships, C corporations There are a few things I would like to do before I ride off into the sunset—my bucket list of sorts. One of them is to drive a winged sprint car. I joke about that one maybe having to wait until my next life. But since I’m of the Reformed Church religious persuasion and we don’t fundamentally [...]