THE TAX ATTIC with Jerry Coon

Emancipation Day extends tax deadline This is always one of the more enjoyable articles that I write. The tax season has just ended. That sentence says it all for people like me, who make a living in the world of preparing tax returns. We all get a chance to take a deep breath and see […]

THE TAX ATTIC with Jerry Coon

Avoid penalties, file an extension 162-0. I know it’s never been done before and the 2012 Detroit Tigers aren’t going to do it either. They aren’t going to win all of their games this year. They may even have lost a game between the time I wrote this article and the time you are reading […]

THE TAX ATTIC with Jerry Coon

Business or hobby? One of a tax professional’s favorite discussion topics concerns whether a taxpayer’s activity is a business or a hobby. There is no black-and-white line at which an activity is called a business or a hobby. The tax effect of an activity falling on the hobby side of the line versus the business […]

Hiccup in filing city tax returns

The Grand Rapids Press is causing some consternation in the Coon household. My habit is to read selected portions of the Press, such as the sports and the business sections. I glance at the front page and usually read the “Perspective” section with the opinions and letters to the editor. However, Deb’s habit is to read […]

THE TAX ATTIC with Jerry Coon

Presidential election campaign brings up tax rates A picture of the 1945 Detroit Tigers baseball team sits in my office. They were the World Series champions that year. I know they only had to beat the Chicago Cubs, but beat them they did. Losing must have hard on the Cubs that year because they haven’t […]