Tag Archives: Taxes

Trump had almost $1B losses – how does that work?

The Republican Presidential nominee is apparently not as shrewd a businessman as he wants everyone to believe. It has been published that on his 1995 tax return he reported total accumulated losses of almost $1B! I’ll leave it to the … Continue reading

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Do you have foreign accounts? Then the Highway Bill affects you.

That’s right. You’re not a truck driver, nor a construction worker. You merely drive on highways, and even that not every day. But if you have any foreign accounts, this bill that has just been passed in the Congress – … Continue reading

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Obama is no Romney.

So we’ve read that Obamas paid 19.8% tax last year on their almost $478K income (the full return here). During the 2012 election cycle, we’ve heard Romney paying about 13%. Some claim that because most of the money Romney got … Continue reading

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Do you know what the IRS Form 3115 is? No? Good. Now you don’t have to.

Guess what, the IRS made a boo-boo again. What about, this time? Trying to force almost anyone with a business or rental income to file form 3115 with their 2014 tax returns. What’s that, you say? Never heard of that … Continue reading

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The IRS now allows verifying credentials of your tax preparer!

I’ve written before about selecting your tax preparer. I’ve received several requests from people to write about how to verify the preparer is actually good. While quantifying the quality is a difficult task, verifying that the preparer is properly licensed … Continue reading

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A quick follow up on Turbo Tax Deluxe edition

As a follow up to my recent article, it appears that Turbo Tax Deluxe has been reduced in functionality from what you may have been used to from prior years. If you need to fill Schedules C, D or E … Continue reading

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Getting ready to filing your taxes?

This is the tax season again, and many people are starting to prepare their tax returns. Some are preparing the documents to provide to their tax preparers (you might want to read this post on how to chose your tax … Continue reading

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