WHO REALLY GETS CREDIT FOR REVENUE BOOM

Who really gets credit for revenue boom. In the last few years it seems everything turned from ok to really bad. The economy turned downward during Covid lockdowns, then it looked like things were turning around after that first winter of Covid, then summer and increased Covid, then more lockdowns and a slower economy. Along […]

SOLAR PANELS BIDEN AND TARIFFS

Solar panels Biden and tariffs. It seems the Biden Administration is in a tough spot when making the call between pursuing Climate Change and the bad behavior of the Chinese with human rights abuses and intellectual property theft. Right now the Chinese manufacture just enough of the solar panels that the United States cannot pursue […]

PANDORA PAPERS REVEAL TAX SCHEMES

Pandora papers reveal tax schemes. The Pandora Papers, and prior to that, the Panama Papers, have revealed a worldwide conspiracy by the world’s richest individuals, celebrities, politicians, and sports figures, to hide assets and income, in offshore bank accounts, trust accounts, and dubious corporate entities used exclusively to hide assets and the reporting of those […]

BIDEN TO PAY FOR ALL PROPOSALS

Biden to pay for all proposals. President Joe Biden has stated that he intends to pay for all of his spending proposals by increasing the taxes on the wealthy and on Corporate America, which is exactly what he said when he ran for the Presidency. Even though the extent of his proposals seem a bit […]

FEDERAL AID WILL HURT TAX CUTS

Federal aid will hurt tax cuts. A condition attached to $350 billion in relief for state and local governments by the American Rescue Plan, P.L. 117-2—that states may not use the money to offset their own tax reductions—may prove problematic, and is perhaps unconstitutional, tax practitioners say. The Coronavirus State Fiscal Recovery Fund appropriates $220 […]

STIMULUS PAYMENTS TO GO OUT IN DAYS

Stimulus payments to go out in days.  With plenty of practice sending relief payments to Americans, the federal government should be able to launch the delivery of $1400 checks almost immediately once Congress finalizes the new aid bill and President Joe Biden signs it, tax experts say. Some Americans might see relief as soon as […]

HOMEOWNERS A VIRUS AND PROPERTY TAXES

Homeowners a virus and property taxes. Some 4.75 million homeowners are in forbearance as of May 26 with more than 41 million Americans filing for unemployment insurance benefits during the pandemic, making it tough for some to keep up with costs associated with home ownership, like property taxes and insurance. For many people affected by […]

SUMMER TAX SCAM ALERT

Summer tax scam alert. The IRS has issued a warning for summer tax scams, even though the tax filing season is just starting for most citizens and business owners. Being cautious and alert regarding new summer tax scams, and being prepared ahead of time is what the IRS is trying to accomplish by educating the […]

COMMON TAX MISTAKES TO AVOID

Common tax mistakes to avoid. Small errors lead to expensive tax bills. Tax software–of the old fashioned paper forms and calculations–won’t help much when the numbers that human beings use in the first place are flawed. Finding and entering tax information often isn’t always easy. “That part of the process requires reading comprehension and critical […]

CONGRESS MAY LET YOU USE RETIREMENT

Congress may let you use retirement. You may soon be able to withdraw up to $100,000 from your 401(k) retirement plan amid the coronavirus outbreak. Just make sure you read the fine print before you jump in. The Senate is currently negotiating over a package of COVID-19 stimulus measures, one of which allows savers to […]