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 ...

Offer In Compromise Cut Rate Price May Increase

Offer In Compromise Cut Rate Price May Increase
I’ve recently been working with a few clients who couldn’t pay their tax bill on time. We’ve managed to set up installment agreements for them, which is typically a fairly pain-free process with the IRS (though I hear some of the states are less lenient), since the Feds would rather get the money late than ...

Hillary Clinton Channels Marco Rubio for Child Tax Credit

Hillary Clinton Channels Marco Rubio for Child Tax Credit
Hillary Clinton, apparently deciding she needs to do more than sit in a lawn chair and watch Donald Trump’s latest gasoline fight accident, released something resembling an actual tax proposal today. Say hello to an expanded Child Tax Credit. Since I’m a bit of a tax nerd (if having a tax website didn’t give that away), ...

New York Times Invents Demons on Trump Tax Return

New York Times Invents Demons on Trump Tax Return
Leave it to the New York Times to screw up a potential bombshell like the leaked Donald Trump tax return they released over the weekend. I’m going to add a bit of a throat clearing before I get into this discussion: I am not pleased (put mildly) with our political candidates this year. When the ...

Colorado Sales Tax on that Herbal Essense

Colorado Sales Tax on that Herbal Essense
Herbs are all the rage in Colorado right now, and I’m sick of it. Fortunately, today’s herbal discussion has nothing to do with the recreational marijuana industry that’s bringing in annoying tourists and odd investment schemes. Today, we’ll focus on another long-time favorite: Chinese medicine. Colorado Department of Revenue–which has the awesome Game of Thrones ...

The Olympic Medal Tax Will No Longer Get The Gold

The Olympic Medal Tax Will No Longer Get The Gold
It looks like the media is going to have to invent one more controversy every two years, because they’ll have a hole in their schedule once the Olympic Medal Tax is repealed. Here’s the deal: each Olympics, even that one that takes place in that white stuff that so many Texan tourists come here to Colorado to ...

Jerry Brown Struggles Mixing Taxes and Tampons

Jerry Brown Struggles Mixing Taxes and Tampons
I grew up in California during one of its biggest booms in economic growth. The good times were rolling, and the Sacramento Pols were doing their best to spend every dollar before it even hit their coffers. During one election before I could vote, I remember my mom debating how she should vote on some ...

Senator Upset About Roth IRA Back Door

Senator Upset About Roth IRA Back Door
Just this Friday I was discussing what I believed to be a screw up by Washington bureaucrats in allowing a back door method to get around Roth IRA income limitation, only to discover that at least one angry senator is standing in the rear entrance, yelling to barricade the loophole before an undead army of upper ...

Uber, Independent Contractors, and Hillary Clinton

Uber, Independent Contractors, and Hillary Clinton
For those regular readers out there, I apologize for the long gap between posts. I had some personal matters to attend to, and have had a hard time getting back into the groove. But what better way to kick start the new stream of tax euphoria than to talk about independent contractors, a classification that ...

Rand Paul Tax Plan Version 2.0: “Blow It Up”

Rand Paul Tax Plan Version 2.0:
Rand Paul is trying something new. His EZ Tax Plan, which was short on specifics and always doomed to fail, has now morphed into something much more unique: The Fair and Flat Tax. I have to give Rand Paul credit here. Whether or not you like the plan he offers, he at least offers specifics, unlike any ...