It’s hard to be logical all the time about everything.  The most financially successful tax clients we serve at least attempt to force themselves to be logical, for their own benefit.  For instance, our parents, as well as a subset of the economy including some popular radio show based advisors like Dave Ramsey, say you [...]

The tax planning world has been evolving very quickly in the last few months.  Needless to say, anyone who felt they had a handle on being proactive is now working with at least one hand behind their back (maybe even two).  Accountants that are proactive (a small subset of the overall group) have been very [...]

With the “world on fire” it’s hard to care about the crisis coming in 2023 or 2024, but especially for retirees or soon to retire folks, next to sheltering in place, it’s the most important thing you can do!   Whether you think the stock market will have a V shaped recovery, a W shaped recovery [...]

These are trying times and we all have information overload, but one small piece of the new emergency tax relief legislation that seems “lost in the sauce” is perhaps the most important for retirees.  There was a last minute push for seniors to be included in the $1,200 relief checks, although if retired and on [...]

We use the term “Tax Planning” often, but we are aware that many people are not sure what it really is.  Some people think “That means off shore accounts and citizenship shell games ending with jail time.  No thank you!”.  That is not tax planning; that’s tax evasion, and it’s not at all what we [...]

For many Americans the bad news surrounding the current crisis is all consuming.  Even for those not living check to check, it can still be very stressful.  Employers struggle with using savings, loan lines or selling assets to keep afloat.  Others face layoffs of workers that are practically family members.  There is a lot of [...]

This tax law became permanent but it’s still very underutilized.  Many others are as well! I know on first read this probably sounds complicated, but it’s very simple.  It’s better to take the income off your tax return than to take the deduction. It’s a win and it’s now permanent. There are numerous other tax [...]

If you own any size business, now is the time to review your business return to make sure you are receiving the maximum allowable “QBI” deduction.  The public and many preparers still don’t have their arms wrapped around how this deduction works and many mistakes are being made!  Whether you file as a sole proprietor, [...]

Well, investors aren’t going to have a very good weekend.  Many are losing net worth, and fear of the real economic effects of a major national or international event, such as the looming possibility of a coronavirus pandemic, is not a topic that anyone likes to deal with.  We have seen these kinds of events [...]

A lot of things have changed in the last two years when it comes to tax rules.  Every year, the IRS tweaks things a little.  Since Trump has been in office, there have been some substantial changes to things that people have been use to for many years.  Old habits die hard, so some of [...]