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The Johnny Jingles Tax Write Off Tale
Our old friend Johnny Jingles has gotten ambitious. Word about town is that he is thinking about becoming a small business owner. It seems that he´s determined that he can make lots of money and use it all but never owe any taxes because of all the tax write offs. Poor Johnny is a bit confused.
The Pinocchio Returns – Lies or Bad Bookkeeping
Let me tell you about a hypothetical couple - Mr. & Mrs. Pinocchio Every so often I will have a new client or two who arrive in my office and they instantly sound the “seems a little shady to me” alarm. You think they must be lying because their mouth is moving and their nose is growing...
The Taxing Subject of Taxes
The Taxing Subject of Taxes will undoubtedly always be a taxing subject but perhaps it will be less annoying if we all try to work together toward an outcome that benefits all classes of people who together are one taxing body of people who support America our country, our home!
Thoughts on Father’s Day Giants, Taxes, Sports…
Fathers are Giants in the eyes of their families. At the gatherings on Father’s Day to honor all of the Giants, undoubtedly, there will be many political discussions, tax discussions, economic discussions, and war related discussions amid the festivities to honor our Fathers.
Truth or Dare - Obama & McCain Promises - Taxes
Wouldn’t you like to see a political campaign where the information you heard and read in ads was the truth and not information with so much spin on it that the truth is disguised in the spinning words. Politicians should have to sign a Truth or Dare pledge at the beginning of their campaigns...
What Exactly Is Adjusted Gross Income
What exactly is Adjusted Gross Income (AGI)? AGI is a tax term for a particular figure on a personal federal income tax return. When you are preparing or reviewing your federal personal return it is helpful to have an understanding of how this number is used in calculations.
What is the Standard Deduction?
When you prepare your personal federal tax return, or have it prepared, you choose to reduce your gross income by the amount of your allowable standard deduction or allowable itemized deductions. You cannot do both. So how do you know which one is better or which one you qualify to take?
What The Bleep Is Capital Gains Tax?
“Hey, I sold some stock that I bought with my money I got for my high school graduation and wow, I made lots of money. Do I have to do anything with this 1099-B and what the bleep is capital gains tax anyway?”
Why We Pay Income Taxes
When was the first income tax levied and why? The telling of this tale of taxes is unfortunately not a child's storybook tale but there have been many big bad wolves around for years huffing and puffing and blowing hot disagreeable taxing air.
Will I Owe Taxes If I Sell My Personal Residence
In slumping real estate markets it may seem that there are no homes selling at gains but in reality some people are still making money on the sale of their personal residences. This prompts the question of whether that gain is taxable for income tax purposes. Let’s take a look at that query...
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