Tax Attic

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 [...]

Hiccup in filing city tax returns

February 9, 2012 // 0 Comments

Jerry Coon 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 through the entire Press every day. [...]

THE TAX ATTIC with Jerry Coon

February 2, 2012 // 0 Comments

Presidential election campaign brings up tax rates Jerry Coon 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 been back to the World Series since. Of course, the [...]
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