Jerry Coon

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 [...]

THE TAX ATTIC with Jerry Coon

May 24, 2012 // 0 Comments

How to calculate depreciation on inherited property Jerry Coon One of my favorite movies of all time, “Midway,” will undoubtedly be shown this Memorial Day weekend. The 1976 war movie has a tremendous cast of characters with Glenn Ford, Henry Fonda, Charlton Heston, Hal Holbrook, Cliff Robertson, Edward Albert Jr., and other stars telling the story of the June 4-7, [...]

THE TAX ATTIC with Jerry Coon

May 10, 2012 // 0 Comments

Doing business in Michigan Jerry Coon Our Michigan State Senator Mark Jansen came to town last week to meet with concerned Rockford residents and business owners over a topic of concern. That topic was fairness in our sales tax system. I know that seldom are the words “fairness” and “tax” used in the same sentence, but it is appropriate in this situation. Allow me [...]
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