Tax reform is coming, and it could happen very soon now that GOP lawmakers in both the House and Senate have agreed upon a reform plan. Depending on whom you believe, the changes will help all taxpayers, or they will just make the rich, richer and give even more tax breaks to large corporations. But no matter whom you believe, ... Read More
Republican Tax Plan Released – Controversial Items Explained
It's finally here! No not Christmas, but that is just around the corner. I'm not talking about tax season either. The "it" I'm referring to is the Republican tax reform plan. House Republicans released their long-awaited tax plan last week and as one might expect there is a lot to digest. So let's take a look at the some of the ... Read More
Will Your Hurricane Damage Qualify for a Tax Write Off?
There’s no question that this hurricane season has seen some of the most destructive storms to ever hit U.S. shores. Together, Harvey, Jose, Nate and Irma have taken hundreds of lives wiped out thousands of homes and businesses and left many cities completely uninhabitable. The destruction has been devastating to millions of ... Read More
Billionaire Calls Eliminating Estate Tax “Terrible Mistake”
As the saying goes, there are two certainties in life: death and taxes. If you’re among the very wealthy then you can actually count on those two things going hand-in-hand, thanks to the federal estate tax. As it currently stands the federal estate tax only applies to a very small part of the population. That’s because the ... Read More
How Will the Equifax Data Breach Affect Your Tax Return?
Filing your next tax return is probably the furthest thing from your mind right now. But you might want to give it at least a little attention. It’s only September, but in case you haven’t heard there was a massive data breach recently and nearly half of the entire country was likely affected. 143 Million People Potentially ... Read More
What Does the New Colorado “Amazon” Tax Mean for You?
Who doesn’t love Amazon? Except for a few holdouts that still don’t feel safe sharing their personal payment information online, and a few others that think the Internet is really just a big front for the government to spy on us (apologies if you’re in this category, but if you are then you won’t see this anyways), everyone ... Read More
Why Your Taxes In Retirement May Be More Than You Think
Are you worried about what your taxes in retirement will look like? What's the reward for approximately 45 years of your life spent working? It's a relaxing and fulfilling retirement, of course. Retirement is something that almost everyone looks forward to "some day". Pretty much every day feels like a Saturday in retirement. ... Read More
Fresh Start Initiative: Program Helping Those Who Owe the IRS
Who doesn't like a fresh start? Sometimes it's a new job in a completely different industry? Perhaps, you've had it with your current significant other, or maybe you're ready to bolt your living quarters and start all over somewhere else. There's nothing quite like that feeling of rinsing yourself off, so to speak, and starting ... Read More
Did You Make a Mistake on Your Tax Return – What Now?
Have you ever had that sinking feeling like you messed up on something big but it’s too late now to take it back? Like that angry email you sent to your boss spelling out why you should get a raise, only to find out that he/she was about to give you one. Or that embarrassing text that you accidently sent to the wrong person that ... Read More
Will the Middle Class Actually Pay More Taxes Under Trump?
Lower taxes for everyone! It was one of the main the rallying cries of our new President on the campaign trail. Make no mistake, Donald Trump has made it clear that he plans to lower taxes, and with both the Senate and Congress in Republican control there’s little doubt that tax changes are coming. Throughout his campaign and ... Read More
Is it Time To Fight Obesity With Taxes?
The world is growing. That’s stating the obvious, but actually I’m referring to the world’s waistline. Countries all over the globe are experiencing an increase in the number of obese residents and the problem appears to continually be getting worse instead of better. In the U.S. alone it has been reported that 38 percent of all ... Read More
Could Your Passport Be in Jeopardy if You Owe Back Taxes?
Summer is now in the rearview mirror, which means the summer travel season is also over. However, for many people it doesn’t really matter what time of year it is, the traveling never really stops. Whether it’s for vacation or for pleasure traveling is an ongoing endeavor for many and that often includes traveling abroad. Of ... Read More