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Legitimate enterprise or illegal drug trafficker? Only the IRS knows for sure
The Sacramento Bee reports that the IRS is looking into the tax returns of an Oakland medical center that, among other things, dispenses medical marijuana: Harborside Health Center proclaims itself the...
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Energy-efficient, tax-inefficient
Scott Hodge of the Tax Foundation Tax Policy Blog (italics mine): Bloomberg recently reported that: “Whirlpool Corp. will claim $300 million this year in U.S. tax credits for making energy- efficient...
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Does “biggest refund” = “best tax value”?
Apparently, according to CPA Success: We knew it. The profession knew it. Anyone who has ever worked with a CPA knew it. Now, the rest of the country knows it, too. “It” is simply this: The best bang...
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Helping the tsunami victims
Remember that for your contribution to be tax-deductible it must be directed to a US-based charity. Check out this link at About.com for more information. UPDATE: Stacie Clifford Kitts has some more...
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“Can I deduct…?” part 1
At this time of year, we start getting a steady stream of clients who are worried about owing come April 18. The most common question we get starts out with three little words: “Can I deduct…??” There...
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Knowing where to put the ‘X’
Trish McIntire on one of the issues we all have: Pop Test! One question; what is a simple tax return? Correct answer; whatever return the caller has. Their goal is to get you to under price the return....
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“Can I deduct…?” part 2
In Part 1, I talked about “above the line” deductions – deductions available directly on form 1040 for any taxpayer who qualifies. There are other deductions that are available to taxpayers who itemize...
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Why tax preparers turn gray
A long-time client of mine brought me something new this year – a Schedule K-1 from a limited partnership (formed through the company that employed the client) that was liquidated this year. Normally,...
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Should the government provide tax prep software for free?
Chris Bergin at tax.com thinks so: Since the government has provided its citizens this ridiculous income tax system whose purpose is to take our money, it seems to me the least the government can do is...
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Selling your home – ask a tax pro BEFORE you sign
It’s been a busy year, and kind of an unusual one. The regular job (AKA “the one that pays the bills”) has been eating into my writing time, and what time I’ve been able to spend on tax matters has...
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A personal note
I’m primarily a software professional who works in the tax field as a secondary profession. For professional reasons I haven’t been writing here lately, but that’s going to change. It is my intention...
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