Tax Attic

THE TAX ATTIC with Jerry Coon

May 3, 2012 // 0 Comments

Early tax-saving tips Jerry Coon As many of you know, last Tuesday the Environmental Protection Agency (EPA) held a meeting at Rockford Public School’s ninth-grade facility to discuss their involvement in the potential cleanup of Wolverine World Wide’s Tannery property. This is a wonderful and valuable piece of property along the Rogue River directly north of downtown [...]

THE TAX ATTIC with Jerry Coon

April 26, 2012 // 0 Comments

Two complicated tax topics Jerry Coon Things are really heating up in Lansing concerning reforming the Personal Property Tax (PPT). Governor Snyder and the legislature are hot on the trail of reforming the entire PPT system. I wrote a few months ago in a column that the complete elimination of the PPT will mean a reduction of revenue to the City of Rockford of [...]

THE TAX ATTIC with Jerry Coon

April 19, 2012 // 0 Comments

Emancipation Day extends tax deadline Jerry Coon 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 exactly what has happened in the surrounding world in the last [...]

THE TAX ATTIC with Jerry Coon

April 12, 2012 // 0 Comments

Avoid penalties, file an extension Jerry Coon 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 it. However, I do think they have a shot at making a run at turning [...]

THE TAX ATTIC with Jerry Coon

April 5, 2012 // 0 Comments

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 side of the line is tremendous, though. Let’s look at [...]
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