General Tax Tips

The Tax Gap

Each year the Taxpayer Advocate’s Office of the Internal Revenue Services issues a report on it’s dealings with the other offices of the Internal Revenue Service. The report is issued in January and sent to the Director as well as… Continue reading

The Definition of a CPA

I’m going to digress from the subject of taxes for a moment and talk about another problem: the changing image of the CPA. With the ENRON debacle and the pending demise of one of the largest auditing and consulting firms… Continue reading

Whats An IRA

It’s time for a brief discussion of Individual Retirement Accounts. There is a lot of information available for these, but most of us don’t have the time to read IRS Publication 590. So I’m going to give you a brief… Continue reading

Adjustments

I just finished reading last week’s column and , boy, was it dry. I’m going to try never to do anything that dull again. But there are a few more adjustments to income that come before “adjusted gross income”, most… Continue reading

More Tax Law Changes

Now that everyone has had a chance to find the amount from that Rate Reduction Credit check they received, what else is new about the 2001 tax returns? The child tax credits are larger this year. Up from $500 last… Continue reading

Changes

Everyone has already heard there are 441 changes in the Internal Revenue Code this year. I have a class to teach next week on these changes so let me tell you where they are. For businesses there are really very… Continue reading

Tax Rebates

Hey VOL FANS! It’s Tax Time in Tennessee! The question that seems to be on most peoples’ minds is: What do I do about that extra IRS check I got this year? Well, that check was considered a “rebate” check… Continue reading