THE TAX ATTIC with Jerry Coon

IRS, Congress crack down on assets in foreign institutions Over the past many years, we have seen a concerted effort by Congress and the Internal Revenue Service to force United States citizens to disclose whether they have financial assets in foreign countries. The basis for wanting to know this information is very straightforward: as tax-paying […]

THE TAX ATTIC with Jerry Coon—April 28, 2011

Start thinking about your 2011 tax return I started reading Rob Bell’s new book, “Love Wins,” over the weekend. It’s a very interesting book. Bell has some interesting thoughts on heaven and hell. I’m sure there will be many rebuttals, because he sure has gotten a lot of people thinking about how God interacts with […]

THE TAX ATTIC with Jerry Coon, April 21, 2011

Filing an extension? Most everyone has a favorite day of the year. To deer hunters, it’s either October 1, the opening day of bow season, or November 15, the opening day of gun season. To many trout fishermen, the last Saturday of April is almost a national holiday. To baseball fans, it’s opening day for […]

THE TAX ATTIC — with Jerry Coon

Changes not always fair It must be baseball season. Even George Will, the conservative columnist, devoted his Sunday column to baseball trivia. I don’t always agree with Mr. Will, but I make it a point to read his column. I am one of those life-long baseball fans, but when George said trivia, he wasn’t kidding. […]

THE TAX ATTIC with Jerry Coon

Rules for owning two residences It’s time to review the rules for taxpayers who are unlucky enough to own two residences at the same time. Dating back to when Proposal A passed, we voted that every homeowner can designate one principal residence for the Principal Residence Exclusion (PRE). The advantage of having the PRE designation […]