It seems like everywhere I go, there are cars on the side of the road and the unmistakable buzz of people with “yard sale face” rushing to see what hot deals they can find. It’s nice to see some post pandemic normalcy. It’s always been a summer ritual, and as badly as we all crave […]
Ever had a “light bulb” moment? I have been driving for many years. I’ve driven at least a million miles and I own a few cars (I collect certain types), and when driving my spouse’s car or one from the collection that I haven’t driven in a while, inevitably it’s time to gas up. I […]
Although currently very little has actually changed tax rules wise, many things are proposed. Under an executive order a few things have actually changed around child credits, so if you have children there are benefits starting now for many Americans in the lower tax brackets. Also, one item that affects many small business owners is […]
It’s May and the 2020-2021 tax filing season is finally coming to an end, and for many with a familiar recurring moooooan and grooooooan of having paid too much in taxes. Now is the time to take your preventative medicine and avoid the pain next year! Being human, we all form habits. Some good. Most […]
A Sign of Recovery: Masks and Yard Sales and Capital Gain Tax Bargains. Get Them Quick Before They’re Gone.
Everywhere I go, like the dandelions popping up all over my lawn, no matter hard I work at their extermination, there are cars on the side of the road and the unmistakable buzz of people with “yard sale rush” masks, rushing to see what hot deals they can find. It’s a Spring/Summer ritual and its […]
Generally speaking, there are three “waves” of tax filers. The first contains the people with W-2 jobs, kids and daycare and they have had taxes withheld that when refunded are a big part of their income. They generally file in late January and early February, as soon as possible so they can get their refund, […]
It goes without saying that the amount of new tax rules and programs that are now in force because of the pandemic is astounding. Preparers are stressed as the programs have come out during the active tax season so that extra time to slow down and read and comprehend just is not available, and people […]
The latest round of stimulus payments, on top of the backlog left from the 2020 IRS slowdown in processing 2019 returns and the constant new tax rules coming out of the legislature, has produced a “HOT MESS” resulting in the extension of the federal income tax filing deadline for the second year in a row, […]
THE IRS HAS EXTENDED THE FEDERAL FILING DEADLINE BUT MOST STATES HAVE NOT, SO YOU MAY STILL HAVE TO FILE BY APRIL 15TH!?
Last year, 41 states that have a personal income tax postponed their April 15 filing and payment deadlines due to the fallout from the pandemic, but that hasn’t officially happened this time, at least not yet. The IRS has moved the deadline for filing 2020 federal income tax returns from April 15 to May 17, 2021. This […]
Lately we’ve seen a historic amount of spending, due of course to the pandemic and trying to keep the economic ship righted. So, who’s to know whether what we’ve done is right or wrong? Only time will tell, but for now, especially for those retired or about to retire, this is a blind crossing moment that takes some forethought and reflection to navigate. […]