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Want to look like Valentino? That’ll be extra.

Posted on15. Jun, 2010 by .

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I’d like to think the majority of you have already heard about the 10% excise tax on tanning services that was pushed through with the health care reform bill.  No? C’mon, even Jersey Shore’s Snooki keeps up to date with her tax law.  (And apparently McCain watches Jersey Shore. Who knew.) So here’s the deal.  [...]

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Get Help With That IRS Notice – for Free!

Posted on05. Jun, 2010 by .

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Did you receive a notice from the IRS or have other tax issues you need help with?  Well, you’re in luck.  Today, June 5, the IRS is hosting the second of three open houses.  You can get help with anything from IRS notices and return preparation (because let’s face it, some of you filed extensions [...]

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Ask the Tax Pro: Can I deduct Charitable Contributions for My Business?

Posted on25. Mar, 2010 by .

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The below question was asked by a taxpayer: I’m the sole member of an LLC, can I take a charitable deduction on my business return for cash and services I provide to my church? I get this question quite often.  And like most things involving tax, the answer is yes and no.   Charitable contributions of [...]

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The U.S. Tax System is Complex

Posted on24. Feb, 2010 by .

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But you didn’t need me to tell you that. Anyone that knows me knows I’m a geek. Not only when it comes to taxes, but I have a true fondess for math and numbers in general. What’s the only thing I like more than numbers? Any kind of visual representation of numbers. So when this [...]

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Paycheck a Bit Lower in 2010?

Posted on30. Jan, 2010 by .

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You may have noticed that your paychecks are a little lower than they were in 2009. This could be due the the Making Work Pay Credit or, even worse, they’ve lowered your salary or hourly rate and no one’s bothered to inform you of this. Let’s hope it’s the former. The American Recovery and Reinvestment [...]

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2009, What a Year You’ve Been.

Posted on30. Jan, 2010 by .

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2009 was definitely a very eventful year. I accomplished a few goals that I set for myself and even some that I didn’t. I obtained my license After months of toting around review books and studying during lunch breaks, I did it.  Becoming an Enrolled Agent has definitely been one of my most significant accomplishments [...]

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Taking Back Productivity

Posted on23. Nov, 2009 by .

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For the last few weeks I’ve been feeling as if I’ve been getting absolutely nothing accomplished. More tasks get added to my to-do list than are actually being completed. I’ve been sleeping a lot more than I used to. And now I’m at the point where I feel like I need to somehow get everything [...]

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UBS and the IRS’ Voluntary Disclosure Program

Posted on17. Aug, 2009 by .

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John McCarthy, a California businessman, became the 4th person to be charged in the UBS tax-evasion case. According to the plea agreement, Mr. McCarthy used his UBS account to transfer over $1 million from his California firm. He admitted to not paying at least $200,00 in federal income taxes. McCarthy was one of about 300 [...]

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The Difference Between Tax Preparers and Tax Professionals

Posted on14. Aug, 2009 by .

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On a trip to Starbucks, in the midst of tax season, I noticed there was a guy basically running his tax preparation business from the coffee shop, fully-equipped with a printer and all! After being overcome with fascination, I decided to go over and chat with him. During the course of our conversation, I learned [...]

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Home Office Tax Deduction

Posted on01. Jul, 2009 by .

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After having the home office tax deduction come up in three separate conversations in the same week, I’ve realized that some people are really misinformed when it comes to the rules on who gets to deduct expenses for a home office.  So, I’ve decided to write a post to hopefully shed some light and clear [...]

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