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Accounting Trends

Permalink
Comments Off on Great Moments in Tax Litigation

Great Moments in Tax Litigation

by Peter on December 26, 2018 in Tax Audit, Taxable income

Some of the greatest stories in America reach their dramatic finale in a courtroom. Who doesn't admire Gregory Peck as Atticus Finch standing up to racism in Jim Crow-era...

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Comments Off on The Man With the (Tax-Free) Bag

The Man With the (Tax-Free) Bag

by Peter on December 12, 2018 in Taxable income

These days it seems like every day brings new controversy to further divide Americans: red states squaring off against blue states and partisanship crossing the line into...

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Comments Off on Paying Your Tax Bill With Magic Beans?

Paying Your Tax Bill With Magic Beans?

by Peter on December 5, 2018 in Accounting, Taxable income

If you pay attention to financial news, you can't escape hearing about Bitcoin and other cryptocurrencies. Bitcoin is just like country music, Justin Bieber, and pineapple on pizza —...

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Comments Off on Carrots Versus Sticks

Carrots Versus Sticks

by Peter on November 28, 2018 in Tax Planning, Taxable income

Take a look at our Internal Revenue Code. No, really, take a good look. (You can buy it on Amazon for just $161.89: two thick paperbacks totaling 4,968...

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Comments Off on Over-the-Top Thanks for This Tax “Break”

Over-the-Top Thanks for This Tax “Break”

by Peter on November 21, 2018 in Accounting, Tax Planning, Taxable income

Wall Streeters have a lot to give thanks for this holiday season. Earnings are up, so bonuses are up. And that, in turn, means taxes are up, too. The...

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Comments Off on LeBron James Scoffs at These Taxes

LeBron James Scoffs at These Taxes

by Peter on November 14, 2018 in Accounting, Tax Planning, Taxable income

If you were coaching your kid's basketball team, you wouldn't win many games if you told them to aim for the backboard. Your opponents might love you, but there...

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Comments Off on Hey, Jealousy

Hey, Jealousy

by Peter on November 7, 2018 in Accounting, celebrity, Taxable income

Reality television has introduced us all to the joy of the "big reveal." HGTV specializes in this...

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Comments Off on Accountants Behaving Badly, Part 40

Accountants Behaving Badly, Part 40

by Peter on October 31, 2018 in Accounting, celebrity, Tax Planning

Big-league baseball players like the ones who just wrapped up the World Series enjoy careers that last 5.9 years on average, and with 162 games per year, they enjoy...

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Comments Off on A Scary Disconnect

A Scary Disconnect

by Peter on October 24, 2018 in Accounting, Tax Planning, Taxable income

Legend holds that in 1494, an Italian friar named Luca Pacioli was sitting under an apple tree...

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Comments Off on The Taxpayer Who Never Was

The Taxpayer Who Never Was

by Peter on October 17, 2018 in Accounting, Tax Planning, Taxable income

Life is full of ups and downs, and sometimes the downs can be so low that it doesn't feel like there's ever going to be an up again. How...

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Comments Off on Don’t Let These Guys Catch You Paying Taxes!

Don’t Let These Guys Catch You Paying Taxes!

by Peter on October 10, 2018 in Pre-tax benefits, Tax Audit, Tax Planning, Taxable income

Streaming TV services like Netflix have changed how we watch television, dropping an entire season of a series at once for us to binge on. They've even breathed new...

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Comments Off on Something to Fight About!

Something to Fight About!

by Peter on October 3, 2018 in Accounting, Tax Planning, Taxable income

Fall is officially here, and that means whiskey season is back. Most drinkers probably don't think much about taxes when they visit their favorite bar or spirits shop. Liquor...

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Comments Off on All Fun and Games

All Fun and Games

by Peter on September 26, 2018 in Accounting, Tax Planning, Taxable income

Some of the world's most popular board games give players the chance to live out professional fantasies. Aspiring property sharks can cheat each other with the classic Monopoly. Would-be...

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Comments Off on R-E-S-P-E-C-T the Plan

R-E-S-P-E-C-T the Plan

by Peter on September 21, 2018 in Accounting, celebrity, Tax Planning

Aretha Franklin left this world with a musical legacy for the ages. The Queen of Soul started singing for her father's "gospel carnival tours" at 12, cut her first...

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Comments Off on Floating Palace, Indeed!

Floating Palace, Indeed!

by Peter on September 12, 2018 in celebrity, Taxable income

This week's story is a briny chowder of petty vandalism, tax avoidance, partisan posturing, and flat-out misinformation. There's probably something in here to offend everyone. So buckle your seat...

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Comments Off on Awwww, He Has His Daddy’s . . . Tax Break?

Awwww, He Has His Daddy’s . . . Tax Break?

by Peter on September 5, 2018 in Accounting, celebrity, Tax Planning, Taxable income

Mother Nature knew exactly what she was doing when she made babies cute. In fact, evolutionary biologists at Oxford University recently concluded they evolved that way to survive by...

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Comments Off on IRS Loves “New” Math

IRS Loves “New” Math

by Peter on August 22, 2018 in Accounting, Tax Planning, Taxable income

Parenting is full of all sorts of milestones. Some of them are precious, like your child's first steps, their first words, and their first day of school. Some of...

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Comments Off on Love Stinks. Yeah, Yeah

Love Stinks. Yeah, Yeah

by Peter on August 15, 2018 in Accounting, celebrity, Taxable income

The best marriages, so they say, age like fine wine. They gain richness, and color, and depth. They ripen and mellow as experience piles upon experience, bonding the couple...

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Comments Off on Mark’s Terrible, Horrible, No Good, Very Bad Day

Mark’s Terrible, Horrible, No Good, Very Bad Day

by Peter on August 8, 2018 in Accounting, celebrity, Tax Planning, Taxable income

When Mark Zuckerberg was 19 years old, he launched Facebook from his Harvard University dorm room. (Some cynics might say "stole" is a better word than "launched," but who...

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Comments Off on Now That’s Shelter

Now That’s Shelter

by Peter on August 1, 2018 in celebrity, Tax Planning, Taxable income

Classic rock fans celebrated a milestone birthday on July 26: Rolling Stones front man and rock legend Mick Jagger turned 75! If that doesn't make you feel old, try...

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Comments Off on It Came From Under the Ground!

It Came From Under the Ground!

by Peter on July 25, 2018 in Accounting, Taxable income

Earlier this month, archaeologists digging in Egypt unearthed a 2,000-year-old black granite sarcophagus 16 feet below the surface. Pretty cool, right? But then they announced they were going to...

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Comments Off on Here’s to Your Health!

Here’s to Your Health!

by Peter on July 18, 2018 in Accounting, Tax Planning, Taxable income

When Congress raises the hood on the tax code, they're usually working to raise money to pay for government. But sometimes they're more interested in nudging us to behave...

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Comments Off on Don’t Cry 4-3, Argentina

Don’t Cry 4-3, Argentina

by Peter on July 11, 2018 in Accounting, celebrity, Taxable income

Americans love a champion, and every year, sports fans get to see new champions crowned. We've got a World Series, a Super Bowl, and NBA finals that drag on...

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Comments Off on Tax Collectors Target “Netflix and Chill”

Tax Collectors Target “Netflix and Chill”

by Peter on July 4, 2018 in Accounting, Tax Credits, Tax Planning, Taxable income

A generation ago, "serious" filmmakers flocking to Hollywood set their sights on movies, not television. Visionary directors like Martin Scorsese and Francis Ford Coppola redefined their craft with a...

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Comments Off on Don’t Drink the Kool-Aid

Don’t Drink the Kool-Aid

by Peter on July 3, 2018 in Tax Planning, Taxable income

Cryptocurrencies like Bitcoin, Bitcash, and Ethereum rest on a foundation of "blockchain": a continuously growing public transaction ledger consisting of records called "blocks" that are linked together and secured...

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Comments Off on More Important Than Taxes?!?

More Important Than Taxes?!?

by Peter on June 20, 2018 in celebrity, Taxable income

Last month, we wrote that New York money manager AllianceBernstein is moving its headquarters and 1,100 employees from a slick black Manhattan skyscraper to the steaming concrete jungles of...

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Comments Off on Manly Men Doing Manly Things in a Manly Way

Manly Men Doing Manly Things in a Manly Way

by Peter on June 18, 2018 in Accounting, Tax Audit, Taxable income

Back in the early 80s, a group of Democratic legislators decided to room together to cut the cost of staying in Washington for the three nights or so per...

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Comments Off on IRS Scuttles Tax Breaks for Pirate Victims

IRS Scuttles Tax Breaks for Pirate Victims

by Peter on June 6, 2018 in Accounting, celebrity, Tax Planning, Taxable income

It's 1715 in the Caribbean and the Golden Age of Piracy is at its peak. The War of Spanish Succession is over, and thousands of privateers are left without...

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Comments Off on Guaranteed Winners

Guaranteed Winners

by Peter on May 30, 2018 in Accounting, Tax Audit, Taxable income

On May 14, the Supreme Court struck down the Professional and Amateur Sports Betting Act that had made Las Vegas the only state where bettors could gamble on college...

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Comments Off on She Did It!

She Did It!

by Peter on May 23, 2018 in Accounting, celebrity, Taxable income

Early on Saturday morning, 29 million Americans woke up to take a break from school shootings, Russian collusion, and partisan gridlock to watch a California woman achieve a rare...

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Comments Off on Inventing Tax Records

Inventing Tax Records

by Peter on May 15, 2018 in Accounting, Tax Planning, Taxable income

Tax Day 2018 has come and gone. Have you cleaned up the mess from the celebration? Has your hangover faded into memory? Now all that's left is to box...

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Comments Off on Quit Your Whining

Quit Your Whining

by Peter on May 13, 2018 in Accounting, celebrity, Tax Planning, Taxable income

By all rights, "Tax Day" ought to be one of our favorite holidays, like "Christmas in April" without the carols, the hype, or the eggnog. That's because eighty percent...

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Comments Off on Such a Bore

Such a Bore

by Peter on May 11, 2018 in Accounting, celebrity

Everyone has a mental picture of what a tax professional or accountant looks like. Probably pretty boring,...

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Comments Off on No Business Like Shvo Business

No Business Like Shvo Business

by Peter on May 10, 2018 in celebrity, Tax Audit, Tax Planning

The lights of Broadway have long shone bright as the show business capital of the United States. (Hollywood may have the movies, but it's just not the same. And...

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Comments Off on Free Agent Scores Spicy Signing Bonus

Free Agent Scores Spicy Signing Bonus

by Peter on May 9, 2018 in Accounting, Tax Credits, Taxable income

Baseball is back in swing, and several teams have already made it clear that they won't be contending for playoff berths. The Cincinnati Reds are leading that sorry pack,...

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Comments Off on Auditors on Deck

Auditors on Deck

by Peter on May 8, 2018 in Accounting, celebrity, Tax Planning, Taxable income

Baseball is back, even as some teams are looking at early-season snow days. Little-leaguers across the land are donning gloves and getting ready to watch their favorite big-leaguers take...

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Comments Off on Ooops!

Ooops!

by Peter on May 7, 2018 in Accounting, Tax Planning, Taxable income

Back in 1985, a group of ambitious lawmakers set out to reform the federal income tax code. House Ways & Means Chair Dan Rostenkowski introduced the legislation. (This was before he...

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Comments Off on Where Does Cardi’s Money Go?

Where Does Cardi’s Money Go?

by Peter on March 28, 2018 in Accounting, celebrity, Taxable income

The rapper Cardi B grew up in the South Bronx's Highbridge neighborhood, where the median family income barely tops $27,000. Cardi, born Belcalis Armanzar, couldn't wait to get out....

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Comments Off on IRS Investigates Pot of Gold at End of Rainbow

IRS Investigates Pot of Gold at End of Rainbow

by Peter on March 14, 2018 in Accounting, Pre-tax benefits, Tax Planning, Taxable income

St. Patrick's Day is here, and every "Irish for a day" tippler in your social circle will take advantage of this convenient excuse to haul grandma out of the...

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Comments Off on Area Man Treats Colleague to Dinner, Drinks

Area Man Treats Colleague to Dinner, Drinks

by Peter on March 7, 2018 in celebrity, Tax Planning, Taxable income

The three-martini lunch has a long and mostly honorable history as a deductible business expense. As former President Gerald Ford once said, "Where else can you get an earful,...

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Comments Off on This Will Make You Love the Income Tax . . .

This Will Make You Love the Income Tax . . .

by Peter on March 1, 2018 in Taxable income

We Americans have fought with our internal revenue code since 1913. But slicing and dicing income, deductions, and a dizzying array of business and personal credits is hardly the...

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Comments Off on Romantic Tax Collectors Love Valentine’s Day, Too

Romantic Tax Collectors Love Valentine’s Day, Too

by Peter on February 14, 2018 in Tax Credits, Tax Planning, Taxable income

It's February, and love is in the air. Restaurants are advertising intimate specials for two. Florists are rolling out the red carpet. And in the greeting card racks across...

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Comments Off on Country Crooners Sing the Blues

Country Crooners Sing the Blues

by Peter on February 7, 2018 in Accounting, celebrity, Tax Audit, Taxable income

Country music embraces a long tradition of songs about sadness and ruin, heartbreak and pain. It just makes sense, then, that country sometimes runs afoul of the tax system....

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Comments Off on Two-Tired to Fight About It

Two-Tired to Fight About It

by Peter on February 1, 2018 in Accounting, Pre-tax benefits, Tax Credits, Tax Planning, Taxable income

When you think of "federal crime," you probably think of big-ticket offenses like mail fraud, identity theft, and tax evasion. But our criminal code is also full of, shall...

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Comments Off on iTaxes Version 38 Billion.0

iTaxes Version 38 Billion.0

by Peter on January 24, 2018 in Accounting, Tax Planning, Taxable income

In 2016, SyFy debuted a new show called Incorporated about a dystopian future where corporations, not governments, rule the world. If that nightmare ever comes true, we all know...

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Comments Off on How Will I Know?

How Will I Know?

by Peter on January 17, 2018 in celebrity, Tax Planning

In 2012, the singer Whitney Houston died suddenly, drowning in a hotel bathroom after years of battling drug addiction. Yet the world will always treasure her musical legacy. The...

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Comments Off on NFL Playoffs: Blue States Versus Red

NFL Playoffs: Blue States Versus Red

by Peter on January 10, 2018 in Accounting, celebrity, Tax Planning, Taxable income

NFL playoffs have begun, and Wild Card Week featured some real competition. On Saturday, the red-state Tennessee Titans barbecued the red-state Kansas City Chiefs, 22-21, and the red-state Atlanta...

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Comments Off on He’s Mister Tax Miser

He’s Mister Tax Miser

by Peter on January 3, 2018 in Accounting, Tax Planning, Taxable income

Welcome to 2018! New Years' always brings changes to taxes. Key numbers, like tax brackets, standard deductions, personal exemptions, and qualified plan contribution limits, all roll over on January...

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Comments Off on We Now Interrupt This Broadcast . .

We Now Interrupt This Broadcast . .

by Peter on December 27, 2017 in Accounting, Tax Credits, Tax Planning, Taxable income

On Sunday, October 30, 1938, Mercury Radio Theatre fans, who were listening to Ramon Racquello and His Orchestra, were interrupted by a news broadcast reporting an odd explosion on...

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Comments Off on The Twelve Days of Taxmas

The Twelve Days of Taxmas

by Peter on December 20, 2017 in Accounting, Tax Planning, Taxable income

Every year, PNC Bank publishes their "Christmas Price Index" to track the cost of the Twelve Days of Christmas. For 2017, it's a hefty $157,558. (And you thought...

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Comments Off on A Different Kind of Holiday Party

A Different Kind of Holiday Party

by Peter on December 13, 2017 in Accounting, Taxable income

Your kids have finally finished eating their Halloween candy, which means that the real holidays are right around the corner. But before you sit down to open presents, December...

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Comments Off on Area Actress to Wed Ex-Soldier

Area Actress to Wed Ex-Soldier

by Peter on December 6, 2017 in Accounting, celebrity, Taxable income

Two hundred and forty one years ago, we declared our independence from Mother England — over taxes, of course. But here on our side of the pond, we've never...

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Comments Off on Good Guys Share $175 Million Refund

Good Guys Share $175 Million Refund

by Peter on November 29, 2017 in Accounting, Tax Planning, Taxable income

April 15 hasn't always been the national exercise in self-flagellation that it is today. Up until the 1940s, you could just waltz into your local IRS office and they...

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Comments Off on Ivy League Tax Problems

Ivy League Tax Problems

by Peter on November 22, 2017 in Accounting, celebrity, Taxable income

They say that "what goes up must come down." But that's not true when it comes to college costs. U.S. News reports the average private college tuition stood...

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Comments Off on The Rock Star, The Nude Estates, and the Lithuanian Shopping Mall

The Rock Star, The Nude Estates, and the Lithuanian Shopping Mall

by Peter on November 15, 2017 in Accounting, Tax Planning, Taxable income

We've all got an image in our minds of who uses "offshore tax havens" to host their business. Let's say you're a junior-varsity Russian oligarch. You've spent a lifetime...

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Comments Off on Stranger Taxes

Stranger Taxes

by Peter on November 8, 2017 in Accounting, Tax Planning, Taxable income

The streaming video service Netflix has earned a reputation for providing quality content like Narcos, Orange is the New Black, and The Queen. But Netflix has also upended how...

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Comments Off on Talk About “Prime” Real Estate!

Talk About “Prime” Real Estate!

by Peter on November 1, 2017 in Accounting, Tax Credits, Taxable income

Former President Jimmy Carter once called our tax code "a disgrace to the human race," and there's really not a lot to like about it. There's at least some...

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Comments Off on For the Love of Art

For the Love of Art

by Peter on October 25, 2017 in Accounting, celebrity, Tax Planning, Taxable income

In today's new Gilded Age, Americans are constantly vying to one-up each other. You show up at your high-school reunion in a new Mercedes E-Class; then your classmate pulls...

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Comments Off on Tax Strategies for Trick or Treats

Tax Strategies for Trick or Treats

by Peter on October 18, 2017 in Accounting, Tax Audit, Taxable income

Halloween is almost here, and if it seems like things have changed since you were a kid, you're right! Halloween has become big business, with the National Retail Federation...

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Comments Off on The Long and Short of It

The Long and Short of It

by Peter on October 11, 2017 in celebrity, Tax Audit, Tax Credits, Tax Planning, Taxable income

Consumer surveys consistently show that CPAs are the most trusted financial advisors of all. But what happens in the rare instance when you can't trust your CPA? Nothing good,...

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Comments Off on They Hate Him at the IRS, Too

They Hate Him at the IRS, Too

by Peter on October 4, 2017 in Accounting, Pre-tax benefits, Tax Planning, Taxable income

We live in an unfortunate era of disunity. Cultural divides, racial divides, religious divides, and political divides are threatening to tear America apart. Every so often, though, someone comes...

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Comments Off on Too Tasty for the IRS

Too Tasty for the IRS

by Peter on September 27, 2017 in Accounting, celebrity, Tax Audit, Taxable income

Most of us like to eat, even if we choose to deny ourselves this pleasure from time to time. And those of us with an entrepreneurial bent often dream...

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Comments Off on Sink Your Teeth Into This One

Sink Your Teeth Into This One

by Peter on September 20, 2017 in Uncategorized

"You better cut the pizza in four pieces because I'm not hungry enough to eat six." Yogi Berra

The calendar is full of little-known commemorations that probably escape your...

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Comments Off on Help With Help

Help With Help

by Peter on September 13, 2017 in Accounting, Tax Credits, Taxable income

Ordinarily we use this space for lighthearted stories that poke fun at the tax system and some of the clever ways that people endeavor to make it work for...

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Comments Off on $50 Million, Hut!

$50 Million, Hut!

by Peter on September 6, 2017 in Accounting, celebrity, Pre-tax benefits, Taxable income

The 2017 college football season kicked off this week, and for most people that means talk of pre-season polls, Heisman trophy hopefuls, and BCS championship prospects. But we're not...

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Comments Off on A Match Made in Dallas

A Match Made in Dallas

by Peter on August 30, 2017 in Accounting, celebrity, Tax Audit, Taxable income

Where is "home"? Home is where the heart is. Home is wherever you make it. Home is wherever I'm with you. And, of course, I'll be home for Christmas....

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Comments Off on TurboTax Made Me Do It

TurboTax Made Me Do It

by Peter on August 23, 2017 in Accounting, Tax Audit, Taxable income

One of the highlights of living in our technologically-advanced age is the ability to buy tools to do almost anything. If your kid fractures his arm playing baseball, you...

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Comments Off on Oops!

Oops!

by Peter on August 16, 2017 in Accounting, celebrity, Taxable income

Mark Twain once said, "Never put off till tomorrow what may be done the day after tomorrow just as well." But Twain's advice doesn't always pay when it comes...

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Comments Off on Bottoms Up!

Bottoms Up!

by Peter on August 10, 2017 in Accounting, Tax Credits, Taxable income

What were you doing at the end of your day on Friday, August 4? Were you knocking back a bottle of suds at your favorite happy-hour bar? Enjoying vacation...

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Comments Off on Making More By Paying Less

Making More By Paying Less

by Peter on August 2, 2017 in Accounting, celebrity, Taxable income

When affluent clients want to pay less tax, they turn to accountants, attorneys, and financial advisors, among other advisors. And we can make a nice living helping clients accomplish...

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Comments Off on Celebrities Behaving Badly

Celebrities Behaving Badly

by Peter on July 26, 2017 in Accounting, celebrity, Tax Audit, Tax Planning, Taxable income

One day back in March, 2002, Us Weekly editor Bonnie Fuller spotted a photo of actress Drew Barrymore bending over to pick a coin off the ground. A light...

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Comments Off on IRS Slapshot Misses

IRS Slapshot Misses

by Peter on July 24, 2017 in Accounting, celebrity, Taxable income

Summer is here, so naturally, everyone's thinking about hockey. The Pittsburgh Penguins have just taken their second Stanley Cup in a row, and the rest of the NHL is...

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Comments Off on Caliente

Caliente

by Peter on July 19, 2017 in Tax Planning, Taxable income

Summer is here, and in most of the country, it's hot! The All-Star game has come and gone, dog days are right around the corner, and if your air...

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Comments Off on Accountants Behaving Badly

Accountants Behaving Badly

by Peter on July 12, 2017 in Accounting, celebrity

Actress Alyssa Milano first gained fame playing Tony Danza's daughter on the television sitcom Who's the Boss. The show ran for eight seasons, snagged ten Emmy and five Golden...

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Comments Off on Clean Tax Savings Here

Clean Tax Savings Here

by Peter on July 3, 2017 in Uncategorized

Businesses generally try to get the highest price possible for their products. It's called "capitalism," and it generally works to establish "equilibrium prices" between knowledgeable buyers and willing sellers....

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Comments Off on This Is Spinal Tax

This Is Spinal Tax

by Peter on July 1, 2017 in Uncategorized

In 1984, the documentary filmmaker Marty Di Bergi scored a hit with This is Spinal Tap, a look inside Britain's loudest band and their 1982 Smell the Glove concert...

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Comments Off on No Soup for You!

No Soup for You!

by Peter on June 30, 2017 in Uncategorized

November 2nd, 1995, was a delicious day in television history. That's when Jerry Seinfeld and the rest of his gang introduced us to the "Soup Nazi",...

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Comments Off on Does Your Money Need a Passport?

Does Your Money Need a Passport?

by Peter on June 14, 2017 in Accounting, Tax Planning, Taxable income

Economic inequality is a hot topic in today's world. Researchers here and abroad consistently show the top 1% of earners gobbling a disproportionate share of gains throughout the world....

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Comments Off on Trigger Warning: Snakes

Trigger Warning: Snakes

by Peter on June 7, 2017 in Accounting, Tax Planning, Taxable income

What scares Americans most? It's not the IRS, or public speaking, or even sharks. No, the answer, as you probably guessed, is snakes. Gallup once polled 1,016 American adults,...

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Comments Off on Hitting a Tax Gapper

Hitting a Tax Gapper

by Peter on May 24, 2017 in Tax Planning, Taxable income

Summer is almost here, and sports fans across America have a lot to look forward to. Basketball's 13-month-long season is (finally) starting to heat up. Hockey playoffs are coming...

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Comments Off on “And the Award Goes To . . . .”

“And the Award Goes To . . . .”

by Peter on May 17, 2017 in Accounting, celebrity, Tax Audit, Tax Planning, Taxable income

Right now, all across America, thousands of talented youngsters are dreaming of careers in performing arts. Whether they aspire to be the next Meryl Streep, or Taylor Swift, or...

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Comments Off on Taxing the Roses

Taxing the Roses

by Peter on May 10, 2017 in celebrity, Tax Planning, Taxable income

Every year on the first Saturday in May, an enormous crowd of socialites, "turf investors," and people just looking for a party descends on Churchill Downs for the Kentucky...

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Comments Off on The Taxing History Behind Cinco de Mayo

The Taxing History Behind Cinco de Mayo

by Peter on May 3, 2017 in Accounting, Taxable income

Americans are great at taking perfectly serviceable holidays and turning them into excuses for parties. On St. Patrick's Day, millions of Irish-for-a-day drinkers belly up to their favorite fake...

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Comments Off on Why Did the Loophole Cross the Road?

Why Did the Loophole Cross the Road?

by Peter on April 26, 2017 in Accounting, Tax Credits, Taxable income

We've just made it through our annual exercise in self-flagellation known as "tax filing season." And who's fault is that? Don't blame the IRS, blame the Congress that wrote...

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Comments Off on Monopoly Money

Monopoly Money

by Peter on April 19, 2017 in celebrity, Tax Planning, Taxable income

In 1935, Americans were mired in the depths of the Great Depression. Gross domestic product had shrunk from $103.6 billion in 1929 to $73.3 billion. Unemployment stood at a...

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Comments Off on What Would You Do for a Klondike Bar?

What Would You Do for a Klondike Bar?

by Peter on April 18, 2017 in Accounting, Tax Audit

In 1982, Unilever came up with a catchy jingle to sell Klondike bars, a sort of Eskimo pie without a stick: "What would you do for a Klondike Bar?"...

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Comments Off on Batter Up!

Batter Up!

by Peter on April 5, 2017 in Accounting, Tax Planning, Taxable income

Baseball is back! On April 2, the Tampa Bay Devil Rays spanked the visiting New York Yankees, 7-3, to kick off the 2017 season. Later that day, the defending...

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Comments Off on Rich as Rockefeller

Rich as Rockefeller

by Peter on March 29, 2017 in Accounting, celebrity, Tax Planning, Taxable income

Last week marked the end of an era as David Rockefeller, the last grandchild of Standard Oil baron John D. Rockefeller, died at age 101. Rockefeller, whose name was...

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Comments Off on I, Robot

I, Robot

by Peter on March 22, 2017 in Accounting, Tax Planning, Taxable income

For decades now, governments across the world have struggled with where to impose taxes to raise the revenue they need to offer modern services. Should they simply raise rates?...

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Comments Off on Monkey Business

Monkey Business

by Peter on March 15, 2017 in Accounting, Tax Planning, Taxable income

In Roman mythology, the hero Hercules used his divine strength to smash through the mountain that used to be Atlas. This created the Straits of Gibraltar, linked the Atlantic...

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Comments Off on Fixed This for You

Fixed This for You

by Peter on March 8, 2017 in Accounting, Tax Planning, Taxable income

For generations, Americans fostered a culture of thrifty self-reliance, especially where it comes to taking care of our stuff. It started all the way back in pioneer days, and...

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Comments Off on Names!

Names!

by Peter on March 1, 2017 in celebrity, Tax Audit, Taxable income

Every year, the IRS gives us a peek inside the wallets of the highest-earning 400 Americans. It's full of juicy facts like their average income ($318 million in...

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Comments Off on Survey Says . . . !

Survey Says . . . !

by Peter on February 22, 2017 in Tax Audit, Taxable income

The people who work at the IRS can be proud to do an important job. They're the "accounts receivable" department for the federal government, and whether you think we...

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Comments Off on Better Call Saul!

Better Call Saul!

by Peter on February 15, 2017 in Accounting, celebrity, Tax Audit, Taxable income

On January 20, 2008, AMC debuted a promising new drama called Breaking Bad. The series chronicled the highs and lows of high-school chemistry teacher Walter White, who was diagnosed...

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Comments Off on Star Power

Star Power

by Peter on February 8, 2017 in Accounting, Tax Audit, Tax Credits, Taxable income

On January 23, the IRS began accepting 2016 tax returns, and that means refund season is officially here. For 2017, the IRS expects 70% of Americans will get refunds,...

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Comments Off on “Step Away From That Soda, Sir . . .”

“Step Away From That Soda, Sir . . .”

by Peter on February 1, 2017 in Accounting, Tax Audit, Taxable income

Last year, the Philadelphia City Council slapped a 1.5 cent-per-ounce tax on soda and artificially-sweetened drinks. The new tax, which became effective on January 1, sounds like something intended...

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Comments Off on Tax Apprentice

Tax Apprentice

by Peter on January 25, 2017 in Accounting, celebrity, Tax Audit, Tax Planning, Taxable income

Back in 2004, Donald Trump was just another overextended real-estate developer with two divorces and four bankruptcies under his belt. That all changed with the debut of The Apprentice,...

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Comments Off on Politicians Behaving Badly

Politicians Behaving Badly

by Peter on January 19, 2017 in celebrity, Tax Audit, Taxable income

(Hard to believe, right?) Last week, we presented three stories from the IRS Criminal Investigation unit's most recent annual report outlining their work to protect the Treasury's revenue from...

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Comments Off on Happy

Happy

by Peter on January 11, 2017 in Accounting, Tax Audit, Taxable income

The IRS publishes hundreds of reports every year, covering all sorts of topics. You'll find routine statistical summaries, like the always-popular "Number of Individual Income Tax Returns, Income, Exemptions...

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Comments Off on Tax Thoughts for the New Year

Tax Thoughts for the New Year

by Peter on January 4, 2017 in Accounting, Taxable income

2017 is likely to be a big year for taxes. House Speaker Paul Ryan and President-elect Donald Trump haven't been shy about their New Year's resolutions to rewrite the...

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Comments Off on Creepy Little Elf Has Nothing on the IRS

Creepy Little Elf Has Nothing on the IRS

by Peter on December 28, 2016 in Accounting, Tax Audit, Tax Planning, Taxable income

If you have kids and you celebrate Christmas, you're probably familiar with the Elf on the Shelf — a storybook and accompanying doll that help encourage your little darlings...

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Comments Off on Christmas Tax Breaks for Christmas Trees

Christmas Tax Breaks for Christmas Trees

by Peter on December 21, 2016 in Accounting, Taxable income

'Tis the season to be jolly, and how jolly could we be without Christmas trees on display? For some of us it's the classic Pinus Sylvestris, or scotch pine....

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Comments Off on Sweet!

Sweet!

by Peter on December 14, 2016 in celebrity, Tax Planning, Taxable income

December is a busy month for holidays, what with Christmas, Hanukkah, and Kwanzaa all crowding calendars. But there's a lesser-known holiday that falls on December 16 that we don't...

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Comments Off on 400 Cigar-Chomping Fat Cats Aren’t Enough Anymore

400 Cigar-Chomping Fat Cats Aren’t Enough Anymore

by Peter on December 7, 2016 in celebrity, Taxable income

Author F. Scott Fitzgerald, who brought us the Great Gatsby among other well-heeled characters, once said the rich are very different from you and me. To which Fitzgerald's jazz...

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Comments Off on Talking Turkey on Taxes

Talking Turkey on Taxes

by Peter on December 1, 2016 in celebrity

A hardy band of refugees board a leaky wooden boat, just 106 feet long to hold 132 of them, and set off for freedom across an unknown sea. Syrian...

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Comments Off on Over the River and Through the Woods

Over the River and Through the Woods

by Peter on December 1, 2016 in Pre-tax benefits, Tax Planning, Taxable income

Thanksgiving is a time for homecoming, and some of us are fortunate to return to a place where we've spent decades of holidays. Who wouldn't relish celebrating in a...

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Comments Off on All You Need is Love

All You Need is Love

by Peter on November 16, 2016 in Accounting, celebrity, Tax Audit, Taxable income

No matter who we voted for, we can all agree that this has been the nastiest presidential election since Thomas Jefferson called John Adams a hermaphroditic bastard. This week...

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Comments Off on No, They Don’t Want Justin Bieber Back

No, They Don’t Want Justin Bieber Back

by Peter on November 10, 2016 in Accounting, Tax Planning, Taxable income

Given how long the 2016 presidential election season was, you're probably in one of two camps right now: ready to move to Canada, or relieved you don't have to....

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Comments Off on Hut, Hut, Hike! (Your Tax Bill)

Hut, Hut, Hike! (Your Tax Bill)

by Peter on November 9, 2016 in Tax Planning, Taxable income

The 2016 NFL season is in full swing, and fans are spending billions of dollars to show their loyalty to their teams. The average ticket costs $92.98. The average...

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Comments Off on Warren Buffett’s Real Superpower

Warren Buffett’s Real Superpower

by Peter on October 26, 2016 in Uncategorized

Spend an afternoon at any area theater, and you'll see heroes with superpowers wreaking havoc wherever they go. Superman is faster than a speeding bullet (and leaps tall buildings...

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Comments Off on We’re Number One!

We’re Number One!

by Peter on October 19, 2016 in Accounting, Taxable income

Americans love awards shows — the Oscars, the Grammys, the Emmys, and the Tonys. So we all watched eagerly as the nonpartisan Tax Foundation rolled out the red carpet...

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Comments Off on Will It Blend?

Will It Blend?

by Peter on October 12, 2016 in Accounting, Tax Audit, Tax Planning, Taxable income

If you've spent any time on the internet, you know it's a vast rabbit hole of places to waste precious minutes of your life. "Will it Blend" is...

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Comments Off on Round ’em Up and Shake ’em Down

Round ’em Up and Shake ’em Down

by Peter on October 5, 2016 in celebrity, Tax Audit, Tax Planning, Taxable income

Last month, Hollywood brought back the classic western with a remake of The Magnificent Seven. It's a tale as old as the West itself. An evil land baron terrorizes...

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Comments Off on Moneyball? Ehhh, Not Really

Moneyball? Ehhh, Not Really

by Peter on September 28, 2016 in Accounting, celebrity, Tax Planning, Taxable income

America is a nation divided. Cat people vs. dog people. Trump people vs. Clinton people. And last week, we discovered a new gulf to bridge: "Brad" people and "Angelina"...

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Comments Off on Do They or Don’t They?

Do They or Don’t They?

by Peter on September 21, 2016 in celebrity, Tax Audit, Tax Credits, Tax Planning, Taxable income

Matt Bissonnette grew up in a dinky flyspeck of a town off the Alaskan coast that you can't get to without a boat or a plane. He ultimately escaped...

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Comments Off on Ahoy, Maties!

Ahoy, Maties!

by Peter on September 16, 2016 in Taxable income

Labor Day has faded into memory, and before you know it, the holidays will be here. Halloween, Thanksgiving, and the year-end Christmas/Hanukkah/Kwanzaa cavalcade of commercialism are the obvious "Big...

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Comments Off on Red Tax Rising

Red Tax Rising

by Peter on September 7, 2016 in Accounting, celebrity, Taxable income

Novelist Tom Clancy shot to the top of the best seller lists when former president Ronald Reagan called his debut, The Hunt for Red October, "the best yarn." His...

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Comments Off on Back to School Tax Time

Back to School Tax Time

by Peter on August 31, 2016 in Accounting, Taxable income

Now's the time of year when kids across America start heading back to school. New kindergartners eagerly don their snazziest big-kid outfits to pose for smiles and pictures. (The...

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Comments Off on Go for the Gold

Go for the Gold

by Peter on August 24, 2016 in Accounting, celebrity, Taxable income

For awhile there, it looked like the just-concluded Rio Olympics would be a carnival of chaos. Golfers boycotting to avoid the Zika virus? Check. Swimmers making their way through...

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Comments Off on Up in Smoke

Up in Smoke

by Peter on August 17, 2016 in celebrity, Taxable income

The Mafia. The Mob. La Cosa Nostra. Call it what you will, this "certain Italian-American subculture" has a long and storied history. Mobsters like Al Capone, Henry Hill, and...

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Comments Off on The Darker Side of Reality TV

The Darker Side of Reality TV

by Peter on August 10, 2016 in celebrity, Tax Audit, Taxable income

Americans can't seem to get enough of reality television. Most critics think that's because reality TV presents us as we all aspire to be. Something about the camera seems...

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Comments Off on Like This!

Like This!

by Peter on August 3, 2016 in Accounting, Tax Audit, Taxable income

If you're like most Facebook users, you get plenty of friend requests from people who aren't really friends. Co-workers you never respected from your last job; classmates you never...

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Comments Off on Now That’s Prime

Now That’s Prime

by Peter on July 27, 2016 in Accounting, celebrity, Taxable income

Americans love peeking into the wallets of the rich and famous. Just how much are they really worth? How did they get there? And who's on top of the...

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Comments Off on Plymouth Rocks!

Plymouth Rocks!

by Peter on July 20, 2016 in Tax Audit, Taxable income

Let's say the IRS decides they don't like your tax return from a couple of years ago. They audit you, and send you a "deficiency notice" for, say, $10,000....

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Comments Off on Shell Games on the Big Screen

Shell Games on the Big Screen

by Peter on July 14, 2016 in Accounting, celebrity, Tax Audit, Taxable income

The dog days are here, and multiplexes across America are delighting audiences with the usual summer fare. Down to the left in Theatre Three, a motley crew of undersea...

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Comments Off on Harry Potter and the Deathly Tax Bill

Harry Potter and the Deathly Tax Bill

by Peter on July 6, 2016 in Accounting, Tax Audit, Taxable income

Harry Potter's sidekick Ron Weasley has challenged opponents from a mountain troll to the Horcruxes to the Death Eaters. Now the actor who plays him, 27-year-old Rupert Grint, is...

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Comments Off on This Too Shall Pass

This Too Shall Pass

by Peter on July 1, 2016 in Uncategorized

Filing your tax return usually isn't much of a chore. If you're like most people, you e-file it and call it a day. (Maybe you cross your fingers in...

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Comments Off on Take This Tax and Shove It

Take This Tax and Shove It

by Peter on June 22, 2016 in Accounting, celebrity, Taxable income

Country music has a long history of celebrating outlaw behavior, which naturally extends to celebrating "outlaw" performers. Plenty of fans have heard the album Johnny Cash recorded of his...

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Comments Off on Thrilla in Manila Envelopes

Thrilla in Manila Envelopes

by Peter on June 20, 2016 in Uncategorized

Words like "hero" and "icon" get tossed around pretty casually these days. But the world lost a true card-carrying legend with the passing last week of boxer Muhammed Ali...

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Comments Off on Have a Coke and a Tax

Have a Coke and a Tax

by Peter on June 8, 2016 in Tax Credits, Uncategorized

When most of us hear the word "tax," we immediately think "IRS." It's natural to associate those three-letter words with each other (even if "IRS" is an acronym and...

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Comments Off on Barry Good!

Barry Good!

by Peter on June 1, 2016 in Accounting, Taxable income

Humorist Dave Barry entertained millions of readers with his nationally syndicated column from 1983 to 2004. Along the way, he earned a Pulitzer Prize for commentary, inspired a television...

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Comments Off on Mickelson Lands in the Rough

Mickelson Lands in the Rough

by Peter on May 25, 2016 in celebrity, Tax Audit, Taxable income

Spring is here, and golfers across the country are busting out their loudest pants to hit the links. Tiger Woods is taking a break from chasing pancake-house waitresses to...

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Comments Off on A Tale of Two CEOs

A Tale of Two CEOs

by Peter on May 18, 2016 in Accounting, Taxable income

Every year, business reporters look forward to listing the country's highest-paid CEOs. Corporate chiefs have always done well for themselves — in 1980, the average S&P 500 head earned...

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Comments Off on The Gambler, The Billionaire, and The Game of Kings

The Gambler, The Billionaire, and The Game of Kings

by Peter on May 11, 2016 in Accounting, Taxable income

Backgammon is an ancient game of dice, strategy, and skill. The name dates back to the 1600s, but the game itself goes back to the Byzantine Emperor Zeno (AD...

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Comments Off on Sign “O” the Times

Sign “O” the Times

by Peter on May 4, 2016 in Accounting, celebrity, Taxable income

The artist forever to be remembered as Prince shocked the world with his unexpected death last month at his Paisley Park compound outside Minneapolis. As is often the case...

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Comments Off on POTUS Meets IRS

POTUS Meets IRS

by Peter on April 27, 2016 in celebrity, Taxable income

For most of us, filing a tax return is a fairly private affair, just between us and our friends at the IRS. But for President Obama and his family,...

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Comments Off on Born to Run

Born to Run

by Peter on April 22, 2016 in Uncategorized

Lots of states get a bad rap. California is too flaky. New Yorkers are too unfriendly. North Dakota is too cold. (Wait a minute . . . you mean...

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Comments Off on Where Are All the Americans?

Where Are All the Americans?

by Peter on April 12, 2016 in Accounting, Tax Audit, Taxable income

Last Sunday, the International Consortium for Investigative Journalism stunned the world with their release of findings from 11.5 million files leaked from the Panamanian law firm Mossack Fonseca. The...

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Comments Off on Start Warming Up Your Texting Thumbs

Start Warming Up Your Texting Thumbs

by Peter on April 6, 2016 in Accounting, Tax Credits, Taxable income

If you're not already one of the millions of Americans with a smartphone glued to your hands, this story may make you reconsider . . . . Vermont Senator Bernie...

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Comments Off on The Great Eskimo Tax Scam

The Great Eskimo Tax Scam

by Peter on March 30, 2016 in Taxable income

Spring is here, at least according to the calendar, and you probably aren't thinking much about Eskimos as April 15 approaches. But here's a fun story from the Wayback...

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Comments Off on A Little Tax Magic

A Little Tax Magic

by Peter on March 23, 2016 in Accounting, Taxable income

You already know that our Congress is as gridlocked as at any time in recent history. Budget and spending bills get rolled up into year-end monstrosities. Urgent priorities like...

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Comments Off on The Humor Endures

The Humor Endures

by Peter on March 16, 2016 in Accounting, celebrity

The passing of former First Lady Nancy Reagan last week at age 94 marks a bit of an end to the 1980s. Nancy earned both praise and criticism for...

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Comments Off on We Don’t Really Like You

We Don’t Really Like You

by Peter on March 9, 2016 in Accounting, celebrity, Taxable income

The actress Sally Field has appeared in dozens of television and movie roles since first appearing as "Gidget." But she's perhaps best known for a 45-second acceptance speech at...

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Comments Off on Taxes Without Zaxes

Taxes Without Zaxes

by Peter on March 2, 2016 in Accounting, celebrity, Taxable income

March 2 marks the birthday of Theodore Geisel — better known to millions of children and former children as Doctor Seuss. That's reason enough to celebrate. But the beloved...

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Comments Off on Men, Boys, Price, Toys

Men, Boys, Price, Toys

by Peter on February 24, 2016 in Accounting, Tax Audit, Taxable income

How much is a classic bright-red Ferrari worth? Well, if it's the 1957 335 S Spider Scaglietti that the French Bardinon family auctioned earlier this month, the answer is...

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Comments Off on Rats Finding Cheese

Rats Finding Cheese

by Peter on February 17, 2016 in Accounting, Tax Audit, Taxable income

Anyone who's ever watched a gangster movie knows there's nothing worse than a rat . . . a snitch . . . a stool pigeon. Life is hard for...

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Comments Off on Deee-Fence!

Deee-Fence!

by Peter on February 10, 2016 in Accounting, Tax Audit, Taxable income

Football fans who enjoyed Super Bowl 50 all know that while offense may sell tickets, it's defense that wins championships. The Carolina Panthers learned this lesson the hard way...

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Comments Off on Ch-ch-ch-ch-changes

Ch-ch-ch-ch-changes

by Peter on February 3, 2016 in Accounting, celebrity, Taxable income

Rock & roll fans lost an icon last month with the death of David Bowie just two days after his 69th birthday. Bowie made a career out of breaking...

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Comments Off on We Bring Good Things to Boston

We Bring Good Things to Boston

by Peter on January 28, 2016 in Tax Audit, Tax Credits, Taxable income

Way back in 1889, the inventor Thomas Edison and the financier J.P. Morgan put their heads together to create the Edison General Electric Company. Just seven years later, it...

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Comments Off on Spinning Garbage Into Gold

Spinning Garbage Into Gold

by Peter on January 20, 2016 in Tax Credits

Centuries ago, medieval alchemists used all the technology at their disposal to try to transform base elements like lead into precious substances like gold. Occasionally they even succeeded! Alas,...

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Comments Off on Golf Course Owners Go for the Green

Golf Course Owners Go for the Green

by Peter on January 13, 2016 in Accounting, Tax Audit, Taxable income

Golf courses may be some of the most beautiful manmade environments on earth. Millions of Americans actually hate the game itself, but tolerate topping their drives, shanking their wedges,...

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Comments Off on The Rich Are Different

The Rich Are Different

by Peter on January 6, 2016 in celebrity, Taxable income

Back in the Gilded Age, an ambitious social climber and noted toady named Ward McAllister coined the phrase "the Four Hundred," named for the number of people that Manhattan...

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Comments Off on Cast Your Ballot

Cast Your Ballot

by Peter on December 30, 2015 in Accounting, celebrity

The 2016 presidential election is almost here. Are you excited yet? (Some cynics would say the campaign actually started as long ago as November 7, 2012 — the day...

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Comments Off on Smile!

Smile!

by Peter on December 23, 2015 in Accounting, celebrity, Tax Audit, Taxable income

"Bar Rafaeli" sounds like a happening watering hole in a trendy part of Brooklyn — the kind of place where bearded hipsters rocking flannel shirts and man-buns tip back...

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Comments Off on Tax Advice for the Grinch

Tax Advice for the Grinch

by Peter on December 16, 2015 in Accounting, Taxable income

The holiday season is in full swing, and we expect you're on your best behavior to make Santa's nice list. But there's one famous guy who works harder than...

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Comments Off on IRS Employees Make the Naughty List

IRS Employees Make the Naughty List

by Peter on December 9, 2015 in Accounting, Tax Audit, Taxable income

Back in 2002, Steve Epstein, the director of the Pentagon's Standards of Conduct Office, faced a common dilemma among ethics officials: how to keep his training sessions fresh and...

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Comments Off on New Tax Collection “Law”

New Tax Collection “Law”

by Peter on December 2, 2015 in Tax Audit, Taxable income

Turn the dial on the Way-Back Machine to the days of the Great Depression. Millions of Americans are jobless, struggling just to eke out a living. But one man...

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Comments Off on Uncle Sam, Knowing When to Hold’em

Uncle Sam, Knowing When to Hold’em

by Peter on November 25, 2015 in Accounting, celebrity, Taxable income

Last month, millions of fans across America sat down in front of their televisions to watch the Kansas City Royals beat the New York Mets, 4 games to 1...

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Comments Off on “Easily Satisfied with the Very Best”

“Easily Satisfied with the Very Best”

by Peter on November 18, 2015 in Accounting, Taxable income

Few figures from recent history loom larger than British Prime Minister Winston Churchill, "the Last Lion." He spent "the wilderness years" of the 1930s fighting the Conservative Party's leadership,...

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Comments Off on Quantum Mechanics (or Something Equally Complicated)

Quantum Mechanics (or Something Equally Complicated)

by Peter on November 11, 2015 in Accounting, celebrity, Taxable income

How big a tax bill would you have to pay before it really hurt? Would sending the IRS $10,000 do it? What about $100,000? What about $1 million? Would...

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Comments Off on Who Lives, Who Dies, Who Tells Your Story

Who Lives, Who Dies, Who Tells Your Story

by Peter on November 4, 2015 in Accounting, celebrity, Taxable income

Every so often a new show hits Broadway with lights that shine brighter than the rest. In 1996, Rent celebrated a group of impoverished East Village artists struggling to...

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Comments Off on No Extra Credit Here

No Extra Credit Here

by Peter on October 28, 2015 in celebrity, Taxable income

Paying your taxes is one of those responsibilities that most of us accept when the time comes. Sure, we grumble about it. But we pay, then get on with...

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Comments Off on Tax Man Turns $1 = $10,001

Tax Man Turns $1 = $10,001

by Peter on October 21, 2015 in Accounting, celebrity, Taxable income

Here in the United States, Uncle Sam imposes a "progressive" income tax. As your income goes up, so does your tax rate. However, those rates go up incrementally. If...

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Comments Off on Fahrvergtaxen

Fahrvergtaxen

by Peter on October 14, 2015 in Tax Credits

Every once in awhile, some knucklehead in a position of power at one of the world's biggest businesses does something so incredibly stupid, you wonder how they can remember...

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Comments Off on Yogi Berra on Taxes

Yogi Berra on Taxes

by Peter on October 7, 2015 in Accounting, celebrity

Last month, one of the most truly American lives came to an end at age 90. Baseball legend Lawrence "Yogi" Berra was a superstar both on and off the...

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Comments Off on Don’t Bogart That Deduction, My Friend

Don’t Bogart That Deduction, My Friend

by Peter on September 30, 2015 in Tax Audit, Taxable income

Imagine you're a hardworking pot dealer just trying to operate an honest shop in the newly legal marijuana industry. You get audited, and the examiner hits you with a...

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Comments Off on Share a Coke with the IRS

Share a Coke with the IRS

by Peter on September 23, 2015 in Accounting, Tax Audit, Taxable income

Coca Cola has earned a lot of headlines for their "Share a Coke with . . . " marketing campaign, printing bottles and cans with 1,000 of the most...

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Comments Off on Alibaba and the Forty Percent

Alibaba and the Forty Percent

by Peter on September 16, 2015 in Tax Audit, Taxable income

Turn on the financial news and you'll hear all sorts of explanations for the stock market's ups and downs. Oh no, the Fed's going to raise rates! Oh no,...

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Comments Off on Vive le Tax!

Vive le Tax!

by Peter on September 9, 2015 in Tax Credits, Taxable income

This year, as usual, millions of American tourists took advantage of summer vacation to travel abroad. Favorable exchange rates made European destinations especially attractive. Seeing Old World cultures gives...

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Comments Off on What’s in a Name?

What’s in a Name?

by Peter on September 2, 2015 in celebrity, Taxable income

Sports fans go nuts this time of year. Baseball fans are watching pennant races heat up; football fans are watching the NFL take the gridiron to kick off the...

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Comments Off on Cadillac Taxes for Everyone!

Cadillac Taxes for Everyone!

by Peter on August 26, 2015 in Pre-tax benefits, Taxable income

Employers have played a key role in financing their employees' healthcare since World War II, when they threw in tax-free benefits to attract talent in a time of wage...

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Comments Off on Bug Bonus

Bug Bonus

by Peter on August 19, 2015 in Taxable income

It seems like every day brings word of a new internet hack or data breach. Target got hacked by Russian teenagers and millions of credit cards had to be...

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Comments Off on Ready or Not, Here We Come!

Ready or Not, Here We Come!

by Peter on August 12, 2015 in Taxable income

Campaign 2016 is here! Last Thursday, 10 Republican presidential candidates squared off against each other in Cleveland's Quicken Loans Arena, tackling such crucial topics as hugs, pimps, and Rosie...

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Comments Off on 2015: A Tax Odyssey

2015: A Tax Odyssey

by Peter on August 5, 2015 in Accounting, Taxable income

On July 23, NASA announced the discovery of Kepler-452b, the first potentially Earth-like planet within the "habitable zone" of a star like our Sun. Kepler-452b is 1,400 light-years away,...

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Comments Off on Toxic Deductible Sludge

Toxic Deductible Sludge

by Peter on July 29, 2015 in Accounting, Taxable income

Back in 2010, British Petroleum's Deepwater Horizon drilling rig exploded and spilled millions of barrels of oil off the Louisiana coast. Countless small business owners, including fishermen, hotel operators,...

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Comments Off on Click!

Click!

by Peter on July 22, 2015 in Uncategorized

Nina Olson is the most important person you've never heard of at the IRS. She's the "National Taxpayer Advocate," and she heads up an organization created to cut through...

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Comments Off on Forensic Filings

Forensic Filings

by Peter on July 15, 2015 in Accounting, Tax Audit, Taxable income

We tend to think of the Internal Revenue Service mainly as Uncle Sam's "collections department." But it's also a true law enforcement agency. Special agents from the Criminal Investigations...

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Comments Off on A Tax in a Pineapple Under the Sea

A Tax in a Pineapple Under the Sea

by Peter on July 8, 2015 in celebrity, Taxable income

You know what's even worse than paying tax on money you make? Try taking a loss on money you lose. Make $100, pay a 40% tax, and you've still...

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Comments Off on Little Tax Lien on the Prairie

Little Tax Lien on the Prairie

by Peter on June 24, 2015 in Accounting, celebrity, Taxable income

Us Weekly is one of those glossy tabloid magazines you see in the checkout line at your local supermarket. Every week, they run a photo feature called "Stars: They're...

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Comments Off on Pomp and Circumstance

Pomp and Circumstance

by Peter on June 17, 2015 in celebrity, Taxable income

June is Graduation Season, and odds are good that you've spent some time seated on a cheap folding chair or arena bleacher watching someone proceed down an aisle in...

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Comments Off on Who Won Most at Roland Garros?

Who Won Most at Roland Garros?

by Peter on June 11, 2015 in Accounting, celebrity, Taxable income

For two weeks every spring, the tennis world focuses its attention on Roland Garros, the Parisian center that hosts the French Open. This year, fans yawned as the dominant...

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Comments Off on Red Card!

Red Card!

by Peter on June 3, 2015 in Accounting, celebrity, Taxable income

Picture a greedy cabal of shameless officials lording over a famously corrupt international cartel. Add suitcases full of cash bribes, and multimillion-dollar payoffs coursing through a shadowy network of...

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Comments Off on Blockbuster Taxes

Blockbuster Taxes

by Peter on May 28, 2015 in Accounting, celebrity, Taxable income

Memorial Day came early this year, and that means we get more time with our summer whites! (Of course, summer doesn't "officially" start until June 21, but who's counting?)...

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Comments Off on Top 10 Taxing Words That (Sort Of) Rhyme With “Tax”

Top 10 Taxing Words That (Sort Of) Rhyme With “Tax”

by Peter on May 20, 2015 in celebrity, Taxable income

Late-night talk-show host David Letterman has delighted audiences with his wry, subversive sense of humor for an impressive 33 years. But this week he bids us farewell. We'll remember...

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Comments Off on The Original Tax “Shelter”

The Original Tax “Shelter”

by Peter on May 13, 2015 in celebrity, Tax Credits

New York City is the indisputable hub of American capitalism. Its glittering streets are home to the worlds of finance, advertising, fashion, publishing, and even organized crime. The island...

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Comments Off on Big News from Washington

Big News from Washington

by Peter on May 1, 2015 in Taxable income

Americans have been complaining about income taxes since the IRS unleashed the first Form 1040 on us back in 1913. Sure, we all hate paying them. But as the...

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Comments Off on Bet They Didn’t Think About This!

Bet They Didn’t Think About This!

by Peter on April 29, 2015 in Accounting, Taxable income

Last week, a New York judge issued writs of habeas corpus on behalf of two chimpanzees named Hercules and Leo, currently living in a research lab at the State...

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Comments Off on Guaranteed Loser

Guaranteed Loser

by Peter on April 22, 2015 in Tax Audit, Taxable income

You've bought a lottery ticket or two in your time, right? The Powerball jackpot hits a kajillion dollars, and you realize you really can't win if you don't play....

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Comments Off on Smoke ‘Em If You Got ‘Em

Smoke ‘Em If You Got ‘Em

by Peter on April 15, 2015 in Accounting, Tax Audit, Taxable income

Every year, the IRS Criminal Investigations unit (IRS-CI) releases a surprisingly entertaining report detailing their efforts to protect the Treasury from scammers, fraudsters, and cheats. This year's edition reveals...

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Comments Off on The Tax Man Runneth

The Tax Man Runneth

by Peter on April 8, 2015 in celebrity

The 2016 presidential election is 20 months away. Sadly, for those of us who don't watch C-SPAN for fun, that basically means it's right around the corner. (Keep a...

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Comments Off on Shocking News

Shocking News

by Peter on March 25, 2015 in Accounting, Taxable income

This time of year, taxpayers across America are scrambling to put together their last year's mileage records. First you've got to total up how many miles you drove for...

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Comments Off on 007 for a Day

007 for a Day

by Peter on March 18, 2015 in Tax Audit, Taxable income

Who hasn't wanted to be a spy at some point or another? Boys see their first James Bond movie, and they don't want to be like 007 — they...

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Comments Off on Crossing the Finnish Line

Crossing the Finnish Line

by Peter on March 11, 2015 in celebrity, Taxable income

You know that sinking feeling. You're driving down the road, minding your own business, when you see a cop's "cherries and berries" flashing in your mirror. Then you look...

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Comments Off on You Taxin’ Me?

You Taxin’ Me?

by Peter on March 4, 2015 in celebrity, Tax Audit

Actor Robert DeNiro has played some of the most compelling characters in movie history: the schizophrenic ex-marine Travis Bickle in Taxi Driver, the young mob boss Vito Corleone in...

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Comments Off on It’s Freezing Where?

It’s Freezing Where?

by Peter on February 25, 2015 in celebrity

Taxpayers across much of the midwest and east coast have enjoyed a relatively light winter this year, with mild temperatures and little snow. But Old Man Winter made up...

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Comments Off on Baby, Don’t Leave

Baby, Don’t Leave

by Peter on February 18, 2015 in celebrity, Tax Credits, Taxable income

State governments collect billions of dollars in taxes every year, and they work just as hard to protect their revenue base as their friends at the IRS. Sometimes that...

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Comments Off on Patriots 28, Seahawks 24, IRS Millions

Patriots 28, Seahawks 24, IRS Millions

by Peter on February 11, 2015 in celebrity, Taxable income

You probably thought the holiday season ended when the last Christmas lights finally came off the house. But then you would have forgotten the closest thing we have to...

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Comments Off on The Postman Always Rings Twice

The Postman Always Rings Twice

by Peter on February 4, 2015 in celebrity, Taxable income

Getting mail from the IRS is rarely something to celebrate. If it's a bill, consider yourself lucky — at least you can just pay it and be done. If...

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Comments Off on Some Modest Proposals

Some Modest Proposals

by Peter on January 30, 2015 in Taxable income

Here in America, most of our tax debates center on "income." How do we define it? How do we count it? What do we get to exclude from it,...

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Comments Off on The Most Wonderful Time of the Year?

The Most Wonderful Time of the Year?

by Peter on January 21, 2015 in Uncategorized

Way back in 1963, the singer Andy Williams introduced one of the most popular Christmas songs of all time: "It's the Most Wonderful Time of the Year." Decades later,...

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Comments Off on Trick Play Backfires; Team Thrown for Loss

Trick Play Backfires; Team Thrown for Loss

by Peter on January 14, 2015 in Accounting, celebrity

College football fans have been crying for a season-ending playoff tournament for years, to replace the invitational "bowl championship" series that usually prompted as many questions as it answered....

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Comments Off on A Royal Mess!

A Royal Mess!

by Peter on January 7, 2015 in celebrity, Taxable income

Most of us don't get to choose our parents. And while we're usually grateful for the ones we have, we've also dreamed of lives that might have been. What...

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Comments Off on Decoding the Code

Decoding the Code

by Peter on December 31, 2014 in Accounting, Tax Credits, Taxable income

The Imitation Game is the critically acclaimed story of Alan Turing, a British mathematician who is widely credited as being the father of computer science and artificial intelligence. Benedict...

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Comments Off on Our Twelve Days of Christmas

Our Twelve Days of Christmas

by Peter on December 24, 2014 in Taxable income

Every year, PNC Bank publishes their "Christmas Wealth Index" to track the cost of the Twelve Days of Christmas. For 2014, it's $116,273.06, up 1.4% from 2013. (And you...

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Comments Off on #1 On the Naughty List?

#1 On the Naughty List?

by Peter on December 17, 2014 in Accounting, Tax Audit, Taxable income

"Christmas comes this time each year," as the Beach Boys astutely observed in "Little Saint Nick." That means Santa Claus will be making his annual "list," checking it twice,...

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Comments Off on Battery-Powered Tax Savings

Battery-Powered Tax Savings

by Peter on December 10, 2014 in celebrity, Tax Credits, Taxable income

We know something that's on your holiday shopping list. And we don't even have to read your mind to know it. You're buying batteries — and you're buying lots...

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Comments Off on Taxation for the Other Guy’s Representation

Taxation for the Other Guy’s Representation

by Peter on December 3, 2014 in Taxable income

Our United States of America was forged in the flame of tax protest. As early as 1750, our Founding Fathers objected that taxation without representation is tyranny. In 1776,...

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Comments Off on 400 People Giving Thanks

400 People Giving Thanks

by Peter on November 26, 2014 in Taxable income

Back in 1982, Forbes magazine compiled their first "Forbes 400" list of the richest Americans. It took $75 million to gain entry to that first list, which featured an...

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Comments Off on Jilting the IRS

Jilting the IRS

by Peter on November 19, 2014 in celebrity, Taxable income

Harold Hamm was born in Lexington, Oklahoma, the 13th child of Oklahoma sharecroppers. He graduated from high school then went straight to work in an oilfield. But he didn't...

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Comments Off on Deduct the Alamo!

Deduct the Alamo!

by Peter on November 12, 2014 in Taxable income

In 1836, Mexican General Santa Anna and 1,500 troops laid seige against 182 Texans garrisoned at the Alamo, a Spanish mission designed to resist attack from native tribes. Thirteen...

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Comments Off on Pagans 1, Mind Control Defenders 0

Pagans 1, Mind Control Defenders 0

by Peter on November 6, 2014 in Taxable income

We're all familiar with the idea of "tax exempt" organizations. The theory here is that some groups serve such valuable roles in society that they should be exempt from...

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Comments Off on Illegal Deduction in the Backfield

Illegal Deduction in the Backfield

by Peter on October 29, 2014 in celebrity, Taxable income

The 1985 Chicago Bears were one of the greatest teams in NFL history — in fact, ESPN ranked them the greatest ever. Quarterback Vince McMahon, Hall-of-Fame running back Walter...

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Comments Off on How to Guarantee an Audit

How to Guarantee an Audit

by Peter on October 22, 2014 in celebrity, Tax Audit

Most of us would rather have a root canal without anesthesia than face an IRS audit. Fortunately, your chances of winding up in that particular hot seat are fairly...

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Comments Off on The Art of the Tax Loss

The Art of the Tax Loss

by Peter on October 15, 2014 in Tax Audit, Taxable income

Everyone knows what a hobby is, right? It's something you do to relax and have fun, not something you do as an occupation. And everyone knows what a business...

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Comments Off on What Do You Give the Man Who Has Everything?

What Do You Give the Man Who Has Everything?

by Peter on October 8, 2014 in celebrity, Tax Audit, Taxable income

Last week, New York Yankee shortstop and future Hall-of-Famer Derek Jeter played his last Major League Baseball game. He chopped a single to third in the third inning to...

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Comments Off on Taxing Situation

Taxing Situation

by Peter on October 1, 2014 in Tax Audit, Taxable income

MTV's Jersey Shore premiered in late 2009 and quickly became the network's most-watched series ever. Cast members Nicole "Snooki" Polizzi, Mike "The Situation" Sorrentino, Jennifer "JWoww" Farley, and their...

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Comments Off on Lipstick on a Pig?

Lipstick on a Pig?

by Peter on September 24, 2014 in Tax Audit, Taxable income

The personal finance website mint.com reports the average American woman spends $15,000 on makeup in her lifetime, including $3,770 on mascara, $2,750 on eyeshadow, and $1,780 on lipstick. Americans...

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Comments Off on Can We Talk?

Can We Talk?

by Peter on September 17, 2014 in celebrity, Taxable income

The world of comedy lost a giant this month. Joan Rivers may have topped out at just 5'2" and weighed 110 pounds soaking wet, but when it comes to...

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Comments Off on No Such Thing As a Tax-Free Lunch

No Such Thing As a Tax-Free Lunch

by Peter on September 10, 2014 in Taxable income

Silicon Valley's high-tech employers are famous for feeding their employees at work. It's not entirely selfless — feeding people helps attract talented workers and keep them chained to their...

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Comments Off on People Who Live in Glass Houses

People Who Live in Glass Houses

by Peter on September 3, 2014 in Taxable income

Takisha McGee works (at least for now) as a Section Manager for the IRS Office of Professional Responsibility, where their mission is to "interpret and apply the standards of...

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Comments Off on It’s International Bacon Day!

It’s International Bacon Day!

by Peter on August 27, 2014 in Tax Credits, Taxable income

The last Saturday in August is International Bacon Day here in the United States. (Yes, it's really a thing.) Hang your bacon decorations and warm up your voice for...

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Comments Off on “Gaming the System”?

“Gaming the System”?

by Peter on August 20, 2014 in Uncategorized

America's biggest companies fight like tigers for surprisingly tiny advantages. Grabbing as little as a single extra percent of market share can mean millions in new revenue, especially in...

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Comments Off on “Most of What Follows Is True”

“Most of What Follows Is True”

by Peter on August 13, 2014 in celebrity, Tax Audit, Taxable income

Robert Redford has thrilled movie audiences for decades. He's breathed life into iconic roles like the outlaw Sundance from Butch Cassidy and the Sundance Kid. He's won two Oscars,...

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Comments Off on Unnecessary Roughness

Unnecessary Roughness

by Peter on August 6, 2014 in celebrity, Taxable income

Football fans can rejoice — the NFL is finally back! On Sunday night, the New York Giants defeated their cross-state rivals from Buffalo, 17-13, in a meaningless pre-season contest....

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Comments Off on Holy Taxes, Batman!

Holy Taxes, Batman!

by Peter on July 30, 2014 in celebrity, Taxable income

On July 23, Batman turned 75! Everyone knows how the billionaire industrialist Bruce Wayne dons a bat-like costume to protect Gotham City from supervillains like The Joker, The Penguin,...

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Comments Off on Berkshire Giveaway

Berkshire Giveaway

by Peter on July 23, 2014 in Uncategorized

Someday, the financial wizards who run things on Wall Street will realize there's "paper to be stacked" opening an Investor Hall of Fame. (Hey, the Rock and Roll Hall...

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Comments Off on Cleveland Rocks!

Cleveland Rocks!

by Peter on July 16, 2014 in celebrity, Taxable income

Cleveland, Ohio has historically been one of America's most populous and productive cities, peaking as the fifth-largest back in 1920. Today, "C-town" is a shadow of its former glory,...

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Comments Off on Inside Job

Inside Job

by Peter on July 9, 2014 in Tax Audit, Tax Credits

The IRS currently has nearly 90,000 employees — about the population of Springfield, OH, or Muncie, IN. The vast majority of them are honest, hardworking civil servants, doing their...

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Comments Off on Winning the Real World Cup

Winning the Real World Cup

by Peter on July 5, 2014 in Taxable income

Here in the United States, we think our Super Bowl is the biggest sporting event around. Every four years, though, we're reminded that there are nearly seven billion other...

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Comments Off on Words of Wisdom

Words of Wisdom

by Peter on June 25, 2014 in Uncategorized

If you've spent any time online lately, you're familiar with so-called "listicles" — those irresistible lists of trivial facts that pass for "online content" these days. You know what...

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Comments Off on Honey or Vinegar?

Honey or Vinegar?

by Peter on June 11, 2014 in Uncategorized

Back when you were a kid, your mom said you'd catch more flies with honey than with vinegar. (We're not sure why she thought you'd want to catch flies...

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Comments Off on Really?

Really?

by Peter on June 4, 2014 in Uncategorized

Why did Willie Sutton rob banks? Because that's where the money is, of course. Why does the IRS focus its attention on income taxes? Same reason! For fiscal 2014,...

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Comments Off on “What’s on The Grill?”

“What’s on The Grill?”

by Peter on May 28, 2014 in Uncategorized

If you're like millions of Americans, you spent last weekend welcoming the unofficial start of summer. (Time to start wearing white again!) You might have enjoyed a day at...

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Comments Off on Oops!

Oops!

by Peter on May 21, 2014 in Uncategorized

Politicians in Iowa, like politicians everywhere, want to encourage their local economy to grow. (Happy voters lead directly to reelection, of course.) But back in 2008, construction in Iowa,...

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Comments Off on From Russia With Love

From Russia With Love

by Peter on May 14, 2014 in Uncategorized

The former Soviet republic of Ukraine has become the world's hottest military and diplomatic flashpoint as Ukrainian nationalists face off against pro-Russian separatists. Russian President Vladimir Putin courteously waited...

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Comments Off on Nice Mouth

Nice Mouth

by Peter on May 7, 2014 in Uncategorized

Two weeks ago, few Americans had heard of Los Angeles Clippers owner Donald Sterling. Now, thanks to Sterling's big mouth, we're all talking about him. As President Barack Obama...

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Comments Off on Toby Keith’s “I Love This Tax Problem”

Toby Keith’s “I Love This Tax Problem”

by Peter on April 30, 2014 in Uncategorized

In 2003, country music superstar Toby Keith released "I Love This Bar," the first single from his Shock'n Y'All album. (For those of you under age 25 or so,...

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Comments Off on The New Known Unknown

The New Known Unknown

by Peter on April 24, 2014 in Uncategorized

Donald Rumsfeld may be one of the most controversial figures of our time, but you have to respect his resume. He won a seat in Congress at an age...

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Comments Off on Master This Green!

Master This Green!

by Peter on April 16, 2014 in Uncategorized

The calendar may say that spring officially begins on March 21. But for millions of golfers across the country, the season didn't really start until this weekend — specifically,...

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Comments Off on Fall into a Fortune

Fall into a Fortune

by Peter on April 9, 2014 in Uncategorized

Getting an audit notice is never anyone's idea of fun. But getting audited isn't always the disaster it might seem. In fact, for fiscal 2012, 107,820 lucky winners got...

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Comments Off on A Little Bit of Tax

A Little Bit of Tax

by Peter on April 2, 2014 in Uncategorized

It seems like every day brings new questions about the digital currency called bitcoin, which first appeared in 2009. Who is the shadowy "Satoshi Nakamoto" who created the currency's...

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Comments Off on Fast Track to the Presidency

Fast Track to the Presidency

by Peter on March 26, 2014 in Uncategorized

Last week, we talked about the IRS Criminal Investigation unit's Fiscal 2013 annual report. We told you about four of the 2,812 offenders who drew prison sentences for their...

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Comments Off on Seasoned Octopus

Seasoned Octopus

by Peter on March 19, 2014 in Uncategorized

Most of the Internal Revenue Service's 90,000 employees are financial bureaucrats, working to collect the taxes that finance our government. But the Criminal Investigations unit, or IRS-CI, is an...

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Comments Off on Finders, Keepers?

Finders, Keepers?

by Peter on March 12, 2014 in Uncategorized

Modern-day salvagers can spend years to find centuries-old treasures. Mel Fisher spent 16 years searching for the Spanish galleon Nuestra Señora de Atocha, which sank in a hurricane off...

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Comments Off on I’d Like to Thank the Academy . . . .

I’d Like to Thank the Academy . . . .

by Peter on March 5, 2014 in Uncategorized

Sunday night, millions of movie fans across the globe tuned in as the Academy of Motion Picture Arts & Sciences presented the 86th Academy Awards. Viewers were amazed that...

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Comments Off on Now We Know Why She’s Dancing

Now We Know Why She’s Dancing

by Peter on February 26, 2014 in Uncategorized

The Swedish pop band ABBA rocketed to global superstardom in the 1970s, with hits like Waterloo, Fernando, and, of course, Dancing Queen. Named for members Agnetha Fältskog, Björn Ulvaeus,...

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Comments Off on And the Gold Goes To . . . !

And the Gold Goes To . . . !

by Peter on February 19, 2014 in Uncategorized

If you're like most of us, you've spent at least some time over the past couple of weeks watching the games of the 22nd Winter Olympiad. Who cares if...

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Comments Off on There’s an App for That

There’s an App for That

by Peter on February 12, 2014 in Uncategorized

Managing the Internal Revenue Service is no easy job. It takes a lot of automation to process over two hundred million tax returns per year. And, while the Service...

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Comments Off on Adding Insult to Super Bowl Injury

Adding Insult to Super Bowl Injury

by Peter on February 5, 2014 in Uncategorized

On Sunday, quarterback Peyton Manning led his uncharacteristically hapless Denver Broncos to the second-most-lopsided Super Bowl loss ever. Manning & Company just couldn't catch a break, from the safety...

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Comments Off on Le Grand Tax Savings

Le Grand Tax Savings

by Peter on February 3, 2014 in Uncategorized

When you think of France, you probably think of food. The French are known throughout the world for their truffles, foie gras, and fine champagne. French chefs have spread...

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Comments Off on Excuses, Excuses

Excuses, Excuses

by Peter on January 22, 2014 in Uncategorized

So-called "tax protestors" have dreamed up dozens of excuses for not paying the taxes the rest of us grumble about. They argue that the Sixteenth Amendment, which authorizes the...

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Comments Off on The Endangered Species List

The Endangered Species List

by Peter on January 15, 2014 in Uncategorized

On September 1, 1914, "Martha," the last remaining passenger pigeon (ectopistes migratorius), died at the Cincinnati Zoo. On September 7, 1936, "Benjamin," the last Tasmanian tiger (thylacinus cynocephalus), died...

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Comments Off on Test Your Tax Knowledge

Test Your Tax Knowledge

by Peter on January 8, 2014 in Uncategorized

They say that knowledge is power, and that's especially true with taxes. So here's a quick quiz to test your tax knowledge in 2014. But look out — the...

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Comments Off on Resolutions We’d Like to See

Resolutions We’d Like to See

by Peter on January 1, 2014 in Uncategorized

2014 is here, and it's time for New Years' resolutions. Americans across the country are pledging to lose weight, quit smoking, exercise, and find new jobs. Some of them...

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Comments Off on Thoughts on Taxes for 2014

Thoughts on Taxes for 2014

by Peter on December 26, 2013 in Uncategorized

2013 has been a big year for taxes. The "fiscal cliff" deal boosted the top federal income tax rate to 39.6%; "Obamacare" added new taxes on top earners; and...

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Comments Off on The Naughty List

The Naughty List

by Peter on December 18, 2013 in Uncategorized

Christmas is almost here, and that means millions of parents across America are telling their kids to behave themselves or risk winding up on the "Naughty List." (Admit it...

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Comments Off on “Ardente!” is Portuguese for “Hot!”

“Ardente!” is Portuguese for “Hot!”

by Peter on December 11, 2013 in Uncategorized

Tax collectors generally don't choose their line of work for the pay. Glassdoor.com, a gossipy website covering salaries and careers, reports the average Revenue Agent earns $73,967. Careerbliss.com tells...

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Comments Off on Coach’s Challenge

Coach’s Challenge

by Peter on December 4, 2013 in Uncategorized

December is here, and for millions of college football fans, that means following their favorite coach to a New Year's bowl game. In Birmingham, Alabama's Nick Saban is reeling...

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Comments Off on That’s a Lot of Gravy!

That’s a Lot of Gravy!

by Peter on November 27, 2013 in Uncategorized

Back in 1621, a group of hardy Pilgrims sat down for a three-day festival of thanksgiving to celebrate surviving plague, starvation, cold, scurvy, Indian attack, and all the other...

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Comments Off on What’s In A Name?

What’s In A Name?

by Peter on November 25, 2013 in Uncategorized

In Shakespeare's most recognized tragedy, the star-crossed lover Juliet asks "What's in a name? That which we call a rose by any other name would smell as sweet." Now,...

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Comments Off on #Windfall

#Windfall

by Peter on November 13, 2013 in Uncategorized

Psychologists agree that the ability to concentrate is key to achieving our goals. But today's high-tech world is full of distractions, from thousands of cable TV channels to millions...

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Comments Off on Death and Taxes and Zombies

Death and Taxes and Zombies

by Peter on November 6, 2013 in Uncategorized

Law reviews are scholarly journals focusing on legal issues, usually edited by students at a particular school. America's law schools currently crank out hundreds of different reviews, which means...

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Comments Off on Touchdown, IRS?

Touchdown, IRS?

by Peter on October 30, 2013 in Uncategorized

It's Week Nine of the 2013 football season, and millions of Americans are following every play. The Kansas City Chiefs are still undefeated. The New York Giants have finally...

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Comments Off on Voting With Your Feet

Voting With Your Feet

by Peter on October 23, 2013 in Uncategorized

It's safe to say that people don't like paying taxes. America was born out of a tax rebellion, and Americans have resisted every variety of tax ever since. Some...

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Comments Off on Story Problems for Grownups

Story Problems for Grownups

by Peter on October 16, 2013 in Uncategorized

Back in grade school, you did all sorts of math problems. You started out with drills to learn your basic addition, subtraction, and multiplication. You learned long division (ugh)....

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Comments Off on Try Looking in the Couch Cushions

Try Looking in the Couch Cushions

by Peter on October 12, 2013 in Uncategorized

People lose things all the time. Usually it's no big deal. We misplace our phone, keys, or sunglasses — then they show up an hour or a day later,...

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Comments Off on Horsing Around with Tax Preparers

Horsing Around with Tax Preparers

by Peter on October 2, 2013 in Tax Audit, Taxable income

This is a big week for taxes and technology. State "insurance exchanges" are scheduled to open for business under the Affordable Care Act, which lets consumers sign up for...

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Comments Off on A Sweeter Tax Than Most

A Sweeter Tax Than Most

by Peter on September 26, 2013 in Taxable income

When you hear the word "tax," you probably think of something the IRS takes out of your paycheck. Or you might think of something they take out of an...

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Comments Off on When the IRS Comes a-Knockin’

When the IRS Comes a-Knockin’

by Peter on September 19, 2013 in Tax Audit, Taxable income

If you get an IRS audit notice, you probably expect to spend hours responding to endless document requests, visiting bland government offices, and meeting with faceless bureaucrats. You might...

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Comments Off on Role Models (Not!)

Role Models (Not!)

by Peter on September 11, 2013 in Tax Audit, Taxable income

Every year, the IRS Criminal Investigation unit releases an annual report detailing how they pursue and prosecute tax-law violations. It's full of the usual dry statistics you...

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Comments Off on When 20 > 20.1

When 20 > 20.1

by Peter on September 4, 2013 in celebrity, Taxable income

Labor Day has come and gone, and, while fall isn't "officially" here, it's time to put away those summer whites. Never mind that the mercury is still hitting 100...

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Comments Off on Hit ‘Em Where It Hurts

Hit ‘Em Where It Hurts

by Peter on August 28, 2013 in Tax Audit, Taxable income

When people misbehave — badly enough — they go to jail. But when corporations misbehave, they can't go to jail. So they pay fines instead. Recent years have brought...

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Comments Off on Are You Sitting Down?

Are You Sitting Down?

by Peter on August 21, 2013 in Tax Audit, Taxable income

Let's start by saying that no one likes getting audited. But the average income tax audit isn't the end of the world. For tax year 2012, the IRS audited...

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Comments Off on Sentencing Reform

Sentencing Reform

by Peter on August 14, 2013 in Uncategorized

Back in 2007, a Los Angeles judge sentenced actress Lindsay Lohan to one day in jail for misdemeanor drunk driving and cocaine charges. California's prisons are notoriously crowded, so...

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Comments Off on Can You Keep A Secret?

Can You Keep A Secret?

by Peter on August 7, 2013 in Taxable income

Benjamin Franklin famously said that "three may keep a secret, if two of them are dead." And that was before the National Security Agency and other government agencies could...

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Comments Off on Putting for Dough

Putting for Dough

by Peter on July 31, 2013 in celebrity, Taxable income

August is almost here, and golf season is in full swing. Duffers are filling the air with curses as colorful as their outfits. Tiger Woods is taking a break...

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Comments Off on What’s Not to “Like”?

What’s Not to “Like”?

by Peter on July 25, 2013 in Tax Audit, Taxable income

Let's imagine, just for a minute, that you decided on a new line of work: ripping off the IRS. How do you think you would launch your new business?...

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Comments Off on Hotties and Notties

Hotties and Notties

by Peter on July 17, 2013 in Tax Credits, Taxable income

Junior high school is a difficult time for parents as well as students. It's a time when boys start to discover girls, and girls start to discover boys. (Reports...

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Comments Off on Bada-Ching!

Bada-Ching!

by Peter on July 10, 2013 in celebrity, Taxable income

The acting world lost one of its brightest lights when Sopranos star James Gandolfini died of a sudden heart attack while touring Italy with his family last month. Gandolfini...

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Comments Off on You Think You Got Audited?

You Think You Got Audited?

by Peter on July 3, 2013 in Uncategorized

Getting an audit notice from the IRS isn't anyone's idea of a party. But it's not the end of the world. Usually the auditor just wants to make sure...

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