IRS BEING FUNDED TO START COLLECTING

IRS being funded to start collecting. After years of under funding at the IRS, Congress weary of the political fallout from increasing deficits, have decided to fund the one government agency that actually returns nearly $14 for every dollar invested into it, the IRS. It doesn’t take a rocket scientist to figure out that when […]

CLIMATE CHANGE BIDEN SOLAR AND TARIFFS

Climate change Biden solar and tariffs. Auxin Solar, a U.S. Manufacturer of solar modules, field a complaint with the Commerce Department, which is responsible for enforcing the tariffs on solar, claiming that the solar manufacturers in Cambodia, Malaysia, Thailand and Vietnam are making an end around the tariffs on Chinese photovoltaic cells. Imports from those […]

PANAMA PAPERS AND UNITED STATES

Panama Papers and United States. The Panama Papers leak was a particularly revelatory story about Russians use of the offshore system. Once story reported that a Russian cellist, who had been friends with Putin since childhood, was secretly linked to offshore accounts holding up to $2 billion. Putin called the leak a “provocation”, insinuating that […]

VIRUS WILL CHANGE NEXT TAX RETURN

Virus will  change next tax return. The coronavirus seems to be changing every aspect of life, even taxes. The pandemic prompted the IRS to push back the filing deadline for 2019 tax returns to July 15, and tax changes will continue into next year. The Coronavirus Aid, Relief, and Economic Security Act, more commonly known […]

A REVIEW OF 2019 TAX DEDUCTIONS

A review of 2019 tax deductions. The Tax Cuts and Jobs Act was the biggest overhaul of the U.S. Tax Code in decades, and it made some significant changes to the tax deductions that are available. Many tax deductions were kept intact, but others were modified, and some were eliminated entirely. Subsequently, legislation with the […]

2019 EXPENSES THAT ARE DEDUCTIBLE ?

2019 expenses that are deductible ? The Tax Cuts and Jobs Act changed the way individuals and businesses were able to deduct certain expenses on their income tax returns. Some items are no longer deductible and some are still allowed. Here is a partial list of those expenses. 2019 expenses that are deductible ? Medical […]

ONE OF THE MOST HATED TAX BREAKS IN AMERICA

One of the most hated tax breaks in america. One of private equity and hedge fund managers most prized tax breaks is again in politicians cross hairs, but Democrats would need to sweep the 2020 elpection if they want to pull the trigger to end the option. President Donald Trump said in may that he […]