Happy 9/15

Happy 9/15
The tax preparers’ real deadline

Bluebeam Tips – Creating Customized Tools

Bluebeam Tips - Creating Customized Tools
I have one more Bluebeam tip in store, after all the other tips I’ve covered (see comparing documents, marking up workpapers, and changing text). This will probably be my last accounting Bluebeam tip before returning back to the regular tax world. When creating a workpaper, back in the old paper days we’d call out different numbers ...

Best Tax Pictures on Flickr

Best Tax Pictures on Flickr
While placed on an interminable hold with ThomsonReuters, I decided to check out Flickr for the best Creative Commons images that come up when you search for the word “tax.” Although the majority were pictures from protests (either for or against other people paying taxes), I was able to weed out a few that are ...

Out-Of-Office Email Deleter – Good or Bad?

Out-Of-Office Email Deleter - Good or Bad?
Ever since jumping out of the public accounting ship, email has started shifting from inundating flood to a genuine means of communication (though it still triggers bouts of PTSD from time to time). Public accounting email served as that electronic leash, rigged up to your smart phone as a constant reminder that your life is not ...

Accounting Puns Sure To Get You Groaned Out of the Party

Accounting Puns Sure To Get You Groaned Out of the Party
Accounting is Accrual Profession! Get it? Accrual sounds like “a cruel”? Yeah, I know, pretty bad. It’s one of those accounting puns that you’d expect Parks and Rec’s Ben Wyatt telling Barney Varmn and co. to side splitting laughter while the audience mentally thanks the guidance councilor who steered them away from accounting. My parents got me ...

Income Tax on Social Security Benefits

Income Tax on Social Security Benefits
(This is part of a series looking at various common 1040 questions. To go back to the summary page, click here) Social Security Benefits, like Unemployment Benefits, is one of those items that it seems odd that income tax would be required. The government is giving the money out–shouldn’t they just keep the part that they ...

1040 Tax Preparation Tips

1040 Tax Preparation Tips
A few months ago I hitched up the ol’ wagon and started a case study that outlined some tips and tricks for filing a business tax return for a sole proprietorship. I finished all I had planned last week. An outline of the study can be found back on my original posting. If you have any additional ...

What does it mean to materially participate?

What does it mean to materially participate?
(NOTE: This is a continuation of a case study looking into tax implications of starting up a small business. Click here to go back to the start) Considering how many items on a tax return are foreign concepts even after having prepared tax returns for a number of years, the IRS’s apparent need for scare quotes on ...

Health Insurance Tax Deduction

Health Insurance Tax Deduction
(NOTE: This is a continuation of a case study looking into tax implications of starting up a small business. This particular article deals with tax deductions for small business. Click here to go back to the start of the case study.) Figuring out all the Health Insurance laws right now is trickier than a snake riding a unicycle. ...

The Clintons As Tax Hypocrites

The Clintons As Tax Hypocrites
Bloomberg recently broke news that the Clinton’s placed one of their houses in a trust to avoid the estate tax. Since Hillary Clinton said that the estate tax prevented the country from being “dominated by inherited wealth,” and Bill has traditionally supporting the estate tax, the question is whether the Clintons have descended to the depths of ...