Action Tax Service

THE TAX ATTIC with Jerry Coon

June 28, 2012 // 0 Comments

How the SSA calculates benefits Jerry Coon Last week, I began a discussion on our Social Security system. The annual statement, beginning in May of this year, can only be accessed online. We went over the procedure for creating an account and accessing that online statement. An important part of the annual statement is the data entered on page 3 titled “Your Earnings [...]

THE TAX ATTIC with Jerry Coon

June 21, 2012 // 0 Comments

What happened to the Social Security statement? Jerry Coon Let’s talk about Social Security this week and for the next few weeks as well. I authored a short series of articles on Social Security a few years ago, but enough procedures have changed that I feel it warrants taking another look at the system. One of the changed items involves the personal statement that the [...]

THE TAX ATTIC with Jerry Coon

June 14, 2012 // 0 Comments

Giving up a rental to foreclosure Jerry Coon “Be well… Do good things… Keep in touch.” This is one of Garrison Keillor’s more famous, if not the most famous, quotes from “The Writer’s Almanac.” It’s short, but it sure does say a mouthful. I have a nephew, Andrew Veenstra, who graduated from Sparta High School last week. One of the speakers used [...]

THE TAX ATTIC with Jerry Coon

June 7, 2012 // 0 Comments

Foreclosures, home equity loans Jerry Coon The tax return preparation business is a whole lot more complicated today than it was when I started preparing taxes back in 1978. The Internal Revenue Service has to deal with many more preparers today than in 1978. Of course, we probably have to deal with more IRS people today than were employed in 1978. There have been [...]

THE TAX ATTIC with Jerry Coon

May 31, 2012 // 0 Comments

Jerry Coon What is debt forgiveness, COD income? Debt forgiveness that may result in Cancellation of Debt (COD) income to taxpayers has been a hot topic on the tax circuit for a while, but it seems to be getting more attention today. The reasons are varied and include the fact that more taxpayers are filing for bankruptcy; credit card companies seem to be more willing to [...]
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