Should Wealthy People Pay More in Income Taxes?

Should Wealthy People Pay More in Income Taxes?
One of my goals over the past couple years is to post at least once a week, either to this site or my personal site. That, despite the fact that some weeks my mind is more mushy than the monkey brains served to Indiana Jones during his family friendly descent through his heart rending rom ...

An Accounting Career When The Big 4 Accounting Firms Suck

An Accounting Career When The Big 4 Accounting Firms Suck
I went into accounting for two primary reasons: job security and money. On those fronts, I made a good choice. Not all is perfect is Accountlandia, of course. One thing that I remember wondering before college graduation was about my options as a tax accountant if that first job didn’t pan out. I’ve now been ...

The Hot Accounting Take on AHCA

The Hot Accounting Take on AHCA
A friend asked me yesterday if I’d done my hot accounting take on the American Health Care Act, or the AHCA (or possibly Trumpcare. Not sure if that’s gonna stick yet). I liked the phrase “hot accounting take” enough that I thought I’d give it a try. There’s a reason I didn’t do one right ...

Trump’s Order To Review Treasury Regs No Substitute For Tax Reform

Trump's Order To Review Treasury Regs No Substitute For Tax Reform
Since my daily drudgery job is directly tied to what the DC Overlords (Washington, not the comic book company) decide sounds best in a 30 second snipped, I try to keep up on the latest thoughts and rumors around tax reform. The latest presidential election was always sure to bring in big changes, no matter who ...

Iron Fist Proves Marvel Sucks At Business As Much As DC

Iron Fist Proves Marvel Sucks At Business As Much As DC
A few years ago, The CW’s take on the Green Arrow sent my eyes rolling so hard they almost got stuck. That post is still over here, but to sum up the complain, an evil CEO used wizardry to change company stock into pixie dust. Or something like that. It made about that much sense. ...

You Want To Be An Accountant – Hopes and Dreams Edition

You Want To Be An Accountant - Hopes and Dreams Edition
An accountant and an insurance agent walk into a bar. I know, it sounds like a setup for a bad joke (with a punchline about how everyone else was so bored with their conversation that they fell asleep). In my case, though, it’s an intro to a conversation that I had earlier this week. We have ...

New Filing Dates Screwing Up My Busy Season

New Filing Dates Screwing Up My Busy Season
I’ve always been a big fan of change. I’m first in line for the latest software updates, gleefully tapping my fingers at the new features. I love discovering new places and new adventures. And when we talk about that four year process of getting new presidents, well, we all know that is necessary to keep ...

IRS Finalized Gambling Rules to Tattle on Your Slot Machine Play

IRS Finalized Gambling Rules to Tattle on Your Slot Machine Play
Since I spent the end of last year in Las Vegas (though my city related activities were limited to the Mandalay Bay Aquarium and having my son tell me all about the MGM Grand Casino fire), it seemed appropriate to kick off the new year discussing new gambling tax rules issued by the IRS. If ...

Don’t Expect The IRS to Cover Your Expensive Lawyer

Don't Expect The IRS to Cover Your Expensive Lawyer
I get daily updates about the new and exciting (as if anything tax related were exciting) developments coming from both our friends in Washington and our illustrious judicial branch. The legislative updates I usually understand just by reading the headlines. The court cases. . .not so much. Today was a bad one with TC Memo 2016-192 and its ...

Tax Relief in Wake of Hurricane Matthew

Tax Relief in Wake of Hurricane Matthew
One of the most surprising things that I’ve discovered after becoming a tax accountant is that the IRS isn’t totally heartless. Is it a massive governmental bureaucracy that is sick and tired of hearing every excuse as to why you can’t file your taxes? Of course. Are there a few agents who wouldn’t qualify to donate ...