A tweet by President Biden on October 20, 2021, got my attention: “Here’s the deal: If you spent $3 on your coffee this morning, that’s more than what 55 major corporations paid in taxes in recent years.” The president has used this statistic...
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 In A Christmas Carol, Charles Dickens has a scene where two charity workers raising funds for the poor approach Ebenezer Scrooge on Christmas Eve. “. . . What shall I put you down for?” “Nothing!” Scrooge replied....
Watch this video on YouTube Want to save a bunch under the new federal income tax laws? Try bunching your deductions. The new tax law doubles the standard deduction and eliminates most miscellaneous deductions. It takes a lot more of the limited allowable deductions...
