Useful tax tips and information from Jerry Coon of Action Tax Service.
Jerry Coon The Internal Revenue Service (IRS) certainly has been taking some abuse lately. We all have an expectation that the IRS is going to treat all taxpayers equally; not playing favorites in a positive or negative fashion. The IRS even puts it in writing in its mission statement: “To provide America’s taxpayers top quality service by helping them understand and [...]
Jerry Coon Last week, the Supreme Court, in a 77 page document, ruled that the Defense of Marriage Act (DOMA) was unconstitutional. The 1996 Defense of Marriage Act was passed when Bill Clinton was President and defined a legal marriage as consisting exclusively of a man and a woman. This was a big decision with fully yet-to-be-determined consequences. Along with the DOMA [...]
Jerry Coon Last week, I discussed financing the cost of college education through the Direct Loan program. Another manner of paying for the cost of education is through the usage of Section 529 College Savings Tuition Plans. There is no question that 529 plans, if sufficiently funded, can be used to pay for almost all of the costs associated with education. So, what [...]
Jerry Coon Last week was a good week for the Coon and the Cunningham families. Stephanie, our oldest daughter, and her husband, Devon Cunningham, had a baby boy, Rowan James, on Tuesday, the 11th. For both sets of proud grand-parents, Rowan is our first grandchild. The little fella might get spoiled just a bit. Since Stephanie and Devon live in Grand Rapids and Jim lives [...]
Jerry Coon Contrary to Governor Snyder’s seemingly best efforts, the cost of college tuition continues to sky rocket. The ways to finance that cost are familiar to all of us, i.e. scholarships, grants, and loans. In my book, scholarships and grants that aren’t required to be paid back are the very best method of paying for college. Of course, those scholarships and [...]