Plymouth Rocks!
Let’s say the IRS decides they don’t like your tax return from a couple of years ago. They audit you, and send you a “deficiency notice” for, say, $10,000. You appeal it, and they say “nope, sorry, it’s $10,000.” If you’re still not happy (and why would you be happy with a $10,000 tax […]
How To Get Massive Education Expenses As Deductions
As a small business owner, the government happily gives you tax deductions for increasing your education. That’s because they know you’re likely to earn higher income and end up with a higher tax bill each year. Here’s what you should know about what you can write off for education expenses. Education expenses can be formal […]
What is tax free with disability insurance?
An important decision your small business will have to make is how much disability insurance you need and how much can you afford. Like with any good decision, you should look at your assets and liabilities to determine how long you can go without income. After all, small business owners are generally the “bread and […]
How To Give Top Employees A Raise For Education Assistance
Education assistance is a great way to reward employees who excel in your business. In fact, it’s exactly what we did with Erica at Paragon. We love it because the government will let you write off your educational expenses in full. You can write off the costs of certain advanced degrees, such as an […]
Shell Games on the Big Screen
The dog days are here, and multiplexes across America are delighting audiences with the usual summer fare. Down to the left in Theatre Three, a motley crew of undersea chums are busy finding their friend Dory. Across the hall in Theatre Five, Universal Studios has ripped off reimagined the Toy Story premise with pets instead […]
How To Best Report Foreign Bank Accounts To IRS
When you report foreign bank account information to the IRS, you prevent the IRS from assuming that you are laundering money, hiding drug money and trying to evade tax liabilities. Possible illegal activity from bank accounts outside of the USA shine a bright light onto all foreign bank accounts. Yes, that includes yours if you […]
Harry Potter and the Deathly Tax Bill
Harry Potter’s sidekick Ron Weasley has challenged opponents from a mountain troll to the Horcruxes to the Death Eaters. Now the actor who plays him, 27-year-old Rupert Grint, is taking on a foe as powerful as Voldemort himself. Last month, he challenged a squad of dementors taking on the deceptively ordinary appearance of bureaucrats at […]
This Too Shall Pass
Filing your tax return usually isn’t much of a chore. If you’re like most people, you e-file it and call it a day. (Maybe you cross your fingers in hope that teenage Russian hackers don’t steal your identity.) If you’re old-school, you trudge down to the post office to snail mail a paper return. […]
Take This Tax and Shove It
Country music has a long history of celebrating outlaw behavior, which naturally extends to celebrating “outlaw” performers. Plenty of fans have heard the album Johnny Cash recorded of his first prison concert at California’s San Quentin penitentiary. But Cash’s fellow country icon Merle Haggard, who recently passed away at age 80, was there to hear […]
Thrilla in Manila Envelopes
Words like “hero” and “icon” get tossed around pretty casually these days. But the world lost a true card-carrying legend with the passing last week of boxer Muhammed Ali after a long and public battle with Parkinson’s disease. Ali first gained fame in the ring, of course, floating like a butterfly and stinging like a […]