IRS Tax Planning Ideas, Tips & News

Let’s assume you find yourself in a position where you no longer itemize your tax deductions on Schedule A of Form 1040 but you wish to make donations to your favorite charities. You are … [Read more...] about Why You Need to Stop Making Charitable Contributions

The IRS has again failed the American taxpayer! Tax preparers are required to obtain a Preparer Tax Identification Number (PTIN) from the IRS. PTINs, if used effectively, can be a very valuable … [Read more...] about More Bad News About the IRS

Everyone is very busy. Why do something today when you can put it off until tomorrow? Are you one of those who defer planning for your retirement until the year of your retirement? Are you qualified … [Read more...] about A Life-Long Process – Planning for Retirement

The PA Dept. of Revenue (DOR) is disallowing individuals to claim losses from out-of-state partnerships and S Corporations that do not file a partnership (or S Corp) tax return with PA. For example, … [Read more...] about PA Disallowing Losses from Partnerships & S Corporations

The December 2015 issue of Accounting Today reported about numerous challenges the IRS is facing. First, there was the IRS Commissioner, John Koskinen, stating that budget cuts are not only harming … [Read more...] about IRS Woes & Problems Continue – Is There No End in Sight?

When some companies have a cash flow problem, what have they done? Some have thought that the cash flow problem was temporary due to a customer failing to remit payment when promised, an unexpected … [Read more...] about IRS Announces New Initiative to Collect Payroll Taxes