How Long Should You Keep Tax Records? Tax Day 2018 has come and gone. Have you cleaned up the mess from the celebration? Has your hangover faded into memory? Now all that's left is to box up those records and store them somewhere safe, for . . . how long? Storing tax...
Over $1 Billion in Taxes Deferred Because of Loophole By all rights, "Tax Day" ought to be one of our favorite holidays, like "Christmas in April" without the carols, the hype, or the eggnog. That's because eighty percent of us get refunds, averaging $2,782 each in...
Not all tax professionals are boring! Everyone has a mental picture of what a tax professional or accountant looks like. Probably pretty boring, right? Dull. Predictable. Not quite smart enough to do useful work, like engineering. Definitely not slick enough for...
Changes May Affect Trades Between Professional Sports Teams Baseball is back, even as some teams are looking at early-season snow days. Little-leaguers across the land are donning gloves and getting ready to watch their favorite big-leaguers take to the field. Stats...
Funny Rant by Cardi B on Money The rapper Cardi B grew up in the South Bronx's Highbridge neighborhood, where the median family income barely tops $27,000. Cardi, born Belcalis Armanzar, couldn't wait to get out. She spent much of her time at her grandmother's home...
When You Rush, You Make Mistakes Back in 1985, a group of ambitious lawmakers set out to reform the federal income tax code. House Ways & Means Chair Dan Rostenkowski introduced the legislation. (This was before he became inmate #25338-016 at the Oxford Federal...
Tax Code Special Rules Help IRS Get Leprechaun's Treasure St. Patrick's Day is here, and every "Irish for a day" tippler in your social circle will take advantage of this convenient excuse to haul grandma out of the house for a little day-drinking. (It seems...
Can This Company Bar Tab Qualify As A Deductible Business Expense? The three-martini lunch has a long and mostly honorable history as a deductible business expense. As former President Gerald Ford once said, "Where else can you get an earful, a bellyful, and snootful...
An Income Tax on "Potential Earnings" We Americans have fought with our internal revenue code since 1913. But slicing and dicing income, deductions, and a dizzying array of business and personal credits is hardly the only way that Uncle Sam could raise the money he...
A Way Around the Soda Tax! Traffic apps have revolutionized how many of us get from Point A to Point B. They started with in-dash navigation systems that needed updates every time a new subdivision or interchange appeared. Then they migrated to the phone with Google...
