Articles

  • Comments on the Proposed Marketplace Fairness Act
  • It is no surprise that the proposed Marketplace Fairness Act, a piece of legislation that would permit States to assess sales tax from out-of-state online vendors, has been rapidly advancing through the Senate.  Some studies have estimated that its passage could increase state tax revenues by as much as $11 billion annually.  At the same […]Read More
  • 7 Ways to Avoid Taxes on Social Security Benefits
  • With more than ten thousand people turning sixty-five every day it is not surprising that there is a lot discussion about strategies to maximize social security benefit payments.  Equally important, however, is consideration of what your after-tax post-retirement income will look like.  It doesn’t do much good to increase your social security benefits by $3,000 a year […]Read More
  • Why your losses are not always deductible
  • One of the most frequent questions asked by our clients is why their losses cannot be used to offset their income.  “I made money, invested it, lost it and now you are telling me I have to pay tax only on what I made.  What about what I lost?  Where exactly am I supposed to […]Read More
  • Avoiding an IRS Imposed Accuracy Related Penalty
  • The United States relies on a voluntary system of compliance in which each citizen reports their income freely and voluntarily, calculates their tax liability correctly and files a tax return on time.  The system is voluntary in that people are free to arrange their financial affairs in a manner that allows them to best take […]Read More
  • Compilation Engagements – Considerations for Lenders and Investors
  • I have often said that having bad information is usually worse than having no information at all.  Relying on bad information can cause an individual or organization to charge ahead when they should proceed with caution.  Over the past decade I have witnessed creditors and investors rely increasingly on tax returns, QuickBooks reports or even […]Read More