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  • The First Major Deadline of the Tax Season is Looming! February 26, 2021
    Many people think of the IRS filing deadline as April 15th.  Simple right?  In fact, there are deadlines all year long, something different every month.  IRS Publication 509 has the outlines, if you want a quick search to look something up.  If you are in certain industries, you likely know you have different deadlines; like […]
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  • Important Tax Code Change for Restaurants and Other Businesses February 19, 2021
    It’s hard to keep up with all the tax code changes that have come about due to COVID-19, and of course the change in the White House will bring even more tax code tweaks.  A lot of what’s been in the news and talked about are PPP loans, changes to payroll tax rules, deferrals and […]
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  • Temporary Break For Those With A 2020 Capital Gain! February 12, 2021
    IRS Notice 2021-10, which automatically extends several IRS deadlines, has just been updated again!! How does that benefit you, the taxpayer?  Any gain (sale of stock, sale of property etc.) that you created by selling after October 4, 2019 but before October 2, 2020 can still have the taxation delayed by using a “QOZ” or […]
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  • They Zig, We Zag. February 5, 2021
    People who are worried about the 10 year rule, requiring beneficiaries of inherited IRAs to withdraw the entire balance within 10 years, can double that time with a CRT beneficiary in front of inheritors.  What if you really have a big IRA and the 10 year rule just isn’t enough of a stretch to help […]
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  • The Only Constant is Change (especially taxation) January 29, 2021
    We talk a lot about people not doing tax planning and not spending more time creating the tax outcomes they want.  We urge people to understand that it’s within their own control and that tax outcomes can be legally and ethically manipulated.  We go on and on about the benefits.  BUT…we understand why it’s so […]
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  • Proposed Changes to the Tax Code January 22, 2021
    The PROPOSED new tax code changes from Biden would change a great deal  of what was installed by Trump. That’s not necessarily a bad thing, as the Trump tax reductions were meant to stimulate the economy to the point that we started reducing the national debt load (which for many reasons did not happen, and […]
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Are You Changing Your Behavior to Match the New Tax Rules in Effect Now?

Many people don’t really think about their taxes until the snow is flying and the first document arrives in the mail. Why would you, right? Year in and year out people often get into a set of habits around getting things together for their preparer. That`s usually not a bad thing, but in a year…
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