The simple and easy online payment apps like Venmo, Zelle, PayPal, Google Pay, and Apple Pay may be in for a complex transformation if the IRS has its way. Congress recently appropriated money in the American Rescue Plan to increase staffing and resources for the IRS....
How much is a tax deduction worth? Maybe less than your money scripts would have you believe. Here are some common ways that over-emphasizing deductions may reduce your tax bill, but actually cost you more money than you save. 1. Maintaining a Home Mortgage. “I...
Every once in a while, a breaking news story is on a topic that I actually understand. The September 27 New York Times article, “Long-Concealed Records Show Trump’s Chronic Losses And Years Of Tax Avoidance,” is one such story. Many reactions to it show...
Watch this video on YouTube Two types of tax increases are being promoted by several presidential candidates and members of Congress. The less common idea, which I wrote about recently, is a wealth tax on net worth. The more common proposal is a significant increase...
Watch this video on YouTube Is a carefully executed plan to minimize income or estate taxes also a tax dodge, scheme, avoidance trick, or scam? It depends. I have seen all those words used by the media to describe both tax fraud and legitimate tax-reducing strategies....
