Is Your Will Up To Date?

Is Your Will Up To Date? If your will (or revocable trust document) has not been revised in the past five years, it’s time to dust it off and see if it still states your wishes.  Changes in your family … Continue reading →

IRS Boosts Service Dogs Service dogs, the canines that lead the blind and provide emotional support, have been gaining in popularity.  They are helpful in many contexts and enjoy special status under the Americans with Disabilities Act.  They also have … Continue reading →

The Greatest Tax Cheat in History Paul Daugerdas, a lawyer and certified public accountant from Wilmette, Illinois, seems to have won the world record for the biggest tax cheat in all history. He was sentenced recently to 15 years in … Continue reading →

Revenge is a Dish Best Served with Hard Cold Cash A recent Tax Court Summary Opinion tells a tale of greed, betrayal, and revenge. Mr and Mrs Kososki were in the process of terminating their marriage.  Shortly before separating they … Continue reading →

How’s that for a catchy title for a blog post? My friend Richard says that I remind him of Barry the Money Launderer, one of the characters in his favorite TV series, Burn Notice.  I am not an expert in … Continue reading →

Tax Court Holds That Distinguished Artist’s Work Was Not a Hobby This tax court case is interesting and important to me because I have many friends, family and clients that are artists. The taxpayer’s work as an artist was not … Continue reading →

MN Dept of Revenue Advises Taxpayers on Hiring a Tax Preparer The Minnesota Department of Revenue suggests asking the following questions to your prospective new tax preparer: What kind of formal tax training do you have? Do you hold any … Continue reading →

How Much Can I Give Away Before I Have to Pay Gift Tax?   Because the estate and gift tax “exemption” is now indexed for inflation, it keeps rising and changes almost every year.  For 2019 the estate and gift … Continue reading →

“Exclusive” Use of Home Office May be Less Than Perfect A recent tax court case sheds a little light on how flexible the “exclusive business use” requirement for a home office deduction can be. In a rare taxpayer victory in … Continue reading →

Free File Software is available for returns reporting income under $66,000.  Eligible filers can choose between several branded tax filing software programs created by the IRS and its commercial partners.  You should be sure to choose a program that offers … Continue reading →