Archive for the ‘Blog’ Category

Now is the Time to Start your Year-End Tax Planning

30/08/12 7:14 pm | Comments (0) | Posted By:

Next year, unless Congress acts before the end of 2012, year-end tax planning will be challenging. Since 2013 tax rates are set to go up, the conventional wisdom of deferring income into subsequent years should be reconsidered. Thus certain high-income taxpayers may want to actually accelerate income into 2012 rather than deferring income into 2...

The Financial Literacy Talk – Just as Important as the Birds and Bees

23/08/12 10:12 pm | Comments (1) | Posted By:

Having given financial literacy presentations to children in our community, I found the recent survey results published by the AICPA (American Institute of Certified Public Accountants) dismaying. According to the survey conducted by Harris Interactive, three in 10 parents never talk to their children about money, or have only had one big talk w...

Identity Theft Taken to the Next Level

16/08/12 5:13 pm | Comments (1) | Posted By:

I recently came across an article on yahoo news, which left me flabbergasted. It explained that one home in Florida was the recipient of more than $1 million in refunds by filing 741 false income tax returns. This is a whole different level of tax fraud that goes way beyond fibbing on charitable donations or not reporting some cash income. T...

New Federal Sales Tax on Real Estate – Simply Not True

14/08/12 8:07 pm | Comments (0) | Posted By:

If you recently got an e-mail telling you that on January 1st all real estate transactions will be subject to a 3.8% federal sales tax, don’t believe it. That is simply not true. The facts are as follows: • First of all, the new tax is applicable only to the gain on sale, not the entire sales price. • The tax applies only to single taxp...

Margin Tax? – Not Good!

02/08/12 8:00 am | Comments (0) | Posted By:

  During the 2011 Nevada state legislative session the specter of a Texas-type margin tax was raised as a replacement to the Modified Business Tax we now “enjoy”. Fortunately, it never got traction. But guess what? Its back and now it is being proposed in ADDITION to the Modified Business Tax, not in lieu of. How would this new Margin Tax ...