Action Tax Service

THE TAX ATTIC with Jerry Coon

May 26, 2011 // 0 Comments

IRS, Congress crack down on assets in foreign institutions Jerry Coon 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 citizens of [...]

THE TAX ATTIC with Jerry Coon—April 28, 2011

April 28, 2011 // 0 Comments

Start thinking about your 2011 tax return Jerry Coon 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 each of us at the end of this short [...]

THE TAX ATTIC with Jerry Coon, April 21, 2011

April 21, 2011 // 0 Comments

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 Jerry Coon 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 Tigers at Comerica Park. To NASCAR fans, it’s [...]

THE TAX ATTIC — with Jerry Coon

April 7, 2011 // 0 Comments

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. They were very tough questions. A couple of them did [...]

THE TAX ATTIC with Jerry Coon

March 31, 2011 // 0 Comments

Rules for owning two residences Jerry Coon 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 is that the 18 mills of [...]
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