Category Archives: Taxes

Preparing for my Annual CPA Tax Meeting

Every year I take the opportunity of owning a personal finance blog to organize my thoughts and paperwork for my upcoming CPA meeting.  Could I do this in a word document? Sure, but why own a personal finance blog if I can’t ask others if they thought I missed anything. While my family’s income isn’tContinue Reading

When You Can Negotiate Your Taxes

Owing back taxes can be more stressful than owing debt on a revolving credit line such as a credit card. An option for relief is available with taxes that you may not be able to get with other types of debt. The name for this type of relief is Offer in Compromise and it mayContinue Reading

It Makes Perfect Sense that the Rich Benefit More from Deductions!

The Los Angels Times recently reported that the richest households are getting the majority of “tax breaks” and deductions built into our tax code.  Their article is based on a CBO Report titled, The Distribution of Major Tax Expenditures in the Individual Income System. First thing is first, I think it reprehensible that a non-partisanContinue Reading

Why is Everyone Attacking Apple For Overseas Profits Not Being Taxed

I can’t figure out why the media and the masses are angry with Apple for legally not paying additional taxes.  I am not an Apple guy (for a few reasons), but I think planning for income taxes is a fantastic move on their part.  You have no patriotic duty to pay more taxes than whatContinue Reading

Mo Money Means Mo (IRS) Problems

I have always assumed that with an increase in income, especially business based income, increases your risk to an audit from the Internal Revenue Service.  My thought process is that it just makes good business sense.  Even if they found a W2 employee making $50,000 cheating on their taxes it doesn’t really matter because itContinue Reading

Tax Changes for 2013–Fiscal Cliff Deal Finalized

CCH recently released a fantastic Tax Briefing on the legislation passed to avoid the tax die of the Fiscal Cliff.  There were some significant changes to the tax law, as well as avoidance of some terrible sunsets.  I think my personal opinion of the deal would be better suited for another post.  Below are someContinue Reading