By Roy Ice Politicians have been wooing reluctant audiences by crooning about how they will fix the tax system for as long as anyone can remember. Understandably, individuals have some reservations about the intentions of their political suitors when they are presented with a new tax proposal. If tax policy gets your heart aflutter, then the U.S. Department of the … [Read more...]
Should you take a home office deduction?
By Roy Ice We are almost to the end of 2020 and I am praying we don’t go into overtime. I think people are starting to go a little stir-crazy. For example,I have noticed “COVID-envy”working its way into conversations. People talk about so-and-so who got “The ‘Rona.” Yeah, they were in agony for two weeks, but hey, they’re done, right?! It’s like a rite of passage for … [Read more...]
Tax and bartering
By Roy Ice Past articles were focused on tax planning and awareness of changing legislation and full of optimism. January 2020 seems so long ago; we were all so innocent back then. Since that time, there has been a LOT of bad news. Raise your hand if you considered tilling the back yard and raising chickens because, the way things were going, we were on a trajectory back … [Read more...]
Free tax preparation options
By Roy Ice It might seem like taxes were created to be inherently stressful. The rules can be difficult to navigate without a guide but, luckily, there is an army of volunteers and professionals that can help lead you through the forms and line items and make tax season just a little bit more bearable. Volunteer Income Tax Assistance One great program, speaking … [Read more...]
Get started on tax planning early for next year
By Roy Ice Tax season has come and gone. As I look back over the past few months, clients have had a lot of questions as they struggle to get familiar with this strange new world under the Tax Cuts and Jobs Act. The tax forms are different, the tax rates are different, credits have expired and new deductions have been created; the new tax law inspired quite a few … [Read more...]